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Latest Supreme Court Verdicts
- Asset Reconstruction Company (India) Limited vs. Bishal Jaiswal (Supreme Court) Under S. 18 an acknowledgement of liability signed by the party against whom the right is claimed gives rise to a fresh period of limitation. Under Explanation (b) to the Section the word ‘signed’ .....
- In Re: Expeditious Trial Of Cases Under Section 138 Of N.I. Act 1881. Chapter XVII inserted in the Negotiable Instruments Act, containing Sections 138 to 142, came into force on 01.04.1989. Dishonour of cheques for insufficiency of funds was made punishable with impriso .....
- DCIT vs. Pepsi Foods Ltd (Supreme Court) Judged by both these parameters, there can be no doubt that the third proviso to Section 254(2A) of the Income Tax Act, introduced by the Finance Act, 2008, would be both arbitrary and discriminatory .....
Latest High Court Verdicts
- Tata Communications Ltd vs. UOI (Bombay High Court) Although the respondents purport to contend that proper procedure had been followed, record does not bear that there had been any communication made to the petitioner as to its submissions being not a .....
- Teleperformance Global Services Private Limited vs. ACIT (Bombay High Court) The consequence of approved scheme of amalgamation was that amalgamating company had ceased to exist and on its ceasing to exist, it cannot be regarded as a person against whom assessment proceeding c .....
- Sadruddin Tejani vs. ITO (Bombay High Court) Before Hon’ble High Court, the Petitioner challenged the arbitrary and unreasonable action of the Designated Authority (Respondent No.2) in rejecting the declarationfiled under the DTVSV Act. It was .....
Latest ITAT Verdicts
- DCIT vs. Ozone India Ltd (ITAT Ahmedabad) To summarise, in our view, the issue of shares at ‘face value’ by the amalgamated company (assessee) to the shareholders of amalgamating company in pursuance of scheme of amalgamation legally reco .....
- Maria Fernandes Cheryl vs. ITO (ITAT Mumbai) As noted by the Central Board of Direct Taxes circular # 8 of 2018, explaining the reason for the insertion of the third proviso to Section 50C(1), has observed that "It has been pointed out that the .....
- Shiv Bhagwan Gupta vs. ACIT (ITAT Patna) The Assessing Officer has levied penalty @ 10% of the alleged undisclosed income, however, it is a matter of record in this case that the assessee has not made any surrender of any undisclosed income .....
Latest Useful Information
- DCIT vs. Ozone India Ltd (ITAT Ahmedabad) To summarise, in our view, the issue of shares at ‘face value’ by the amalgamated company (assessee) to the shareholders of amalgamating company in pursuance of scheme of amalgamation legally reco .....
- Maria Fernandes Cheryl vs. ITO (ITAT Mumbai) As noted by the Central Board of Direct Taxes circular # 8 of 2018, explaining the reason for the insertion of the third proviso to Section 50C(1), has observed that "It has been pointed out that the .....
- Shiv Bhagwan Gupta vs. ACIT (ITAT Patna) The Assessing Officer has levied penalty @ 10% of the alleged undisclosed income, however, it is a matter of record in this case that the assessee has not made any surrender of any undisclosed income .....
Latest Articles By Legal Luminaries
- Sharpened Niceties And Nuances Of Natural Justice Advocate Sanjiv Shah has explained the entire law on "audi alteram partem" in a simple and clear manner. He has referred to all the important judgements on the topic and highlighted their nua .....
- Faceless Appeal: Improving Transparency In Taxation – A Practical Guide Dr. K. Shivaram, Senior Advocate, and Mr. Shashi Bekal, Advocate, have explained in meticulous detail the entire law and practice relating to the newly introduced scheme of 'Faceless Appeals'. The le .....
- Faceless Income Tax Appellate Tribunal – Opacity In The Name Of Transparency Advocate Aditya Ajgaonkar has explained the concept of "faceless appeals" proposed to be introduced in the ITAT by the Finance Bill 2021. He has opposed the proposal and argued that it is a serious a .....
Latest Blog Posts
- A Tribute : Hon’ble Shri A.D. Jain, Vice President – a Man with extraordinary dedication, a paragon of integrity and a judicial mind of exceptional insight, he is above all, a truly remarkable human being. We are pleased to acknowledge that your honour has served this great institution of the Income Tax Appellate Tribunal (ITAT) for 23 years with extraordinary dedication, a paragon of integrity and a ju .....
- Income-tax Appellate Tribunal (ITAT)-Appointment of the Honourable Members of the ITAT on a tenure basis of four years and proposed Faceless hearing before the ITAT will destroy the fabric and independence of the institution- Tax Bar Associations across the country have to join together and make a Representation to the consideration of the Honourable Prime Minster of India to bring the status of the appointment of Honourable Members of the ITAT as it existed before 2017. Dr. K. Shivaram Senior Advocate. Income-tax Appellate Tribunal (ITAT) – Appointment of the Honourable Members of the ITAT on a tenure basis of four years and proposed Faceless hearing before the I .....
- A Tribute to Late Shri Narayan Varma From the desk of the Editor-in-Chief A Tribute to Late Shri Narayan Varma A great visionary of the tax profession My Senior, Late Shri V. H. Patil Advocate had encouraged me to write for the Bombay Ch .....
Latest Forum Discussions
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Re: validity of notices u/s 148A
Quote from: satyanveshi on October 04, 2023, 09:15:05 AMThough I have posted this query .....
- Re: validity of notices u/s 148A Though I have posted this query nearly one year back, it didnot attract any attention from the stake holders... Recently, I found a decision of Telangana high court decision in the case of kankanala R .....
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