Click Here For Best Books On Taxation & Law. Upto 60% Off On Select Titles. Free Shipping & Pay On Delivery!
 

Click Here To Subscribe To Our Free Newsletter

Home › All Judgements › K.C.C. Software Ltd vs. DIT (Inv.) (Supreme Court)

K.C.C. Software Ltd vs. DIT (Inv.) (Supreme Court)

Posted on by editor
COURT:
CORAM:
SECTION(S):
GENRE:
CATCH WORDS:
COUNSEL:
DATE: (Date of pronouncement)
DATE: January 31, 2008 (Date of publication)
AY:
FILE:
CITATION:

Cash in bank is conceptually different from cash in hand. It is not permissible for the Revenue to withdraw money from the attached bank accounts. However, as the order u/s 132B was not challenged, no relief given. Directions given for deposit of seized moneys in fixed deposit.

Related Posts:

  • PCIT vs. TIBCO Software (India) Pvt Ltd (Bombay High Court) This Court was rather surprised as to why the Revenue brings such Appeals to this court and regularly. The Courts in India seem to be taking a view that the Revenue has routinely brought such matters before this Court knowing fully well that the Transfer Pricing particularly with regard to…
  • Oracle Financial Services Software Ltd vs. DCIT (Bombay High Court) We are prima facie of the view that the Revenue Authorities committed serious error. Against the total demand arising out of the order of assessment of Rs. 205 crore, the Assessing Officer has already recovered a total of Rs. 140 crores by now through different means. There is no allegation…
  • Calance Software Pvt. Ltd vs. DCIT (ITAT Delhi) At the time of hearing the Ld. AR has taken a ground which is on legal point that as per the Instruction No. 3/2003 issued by the CBDT, the Assessing Officer should have decided the issue of international transaction himself instead of referring it to Transfer Pricing Officer as the…
  • In Re: Guidelines For Court Functioning Through Video Conferencing During Covid-19 Pandemic… Every individual and institution is expected to cooperate in the implementation of measures designed to reduce the transmission of the virus. The scaling down conventional operations within the precincts of courts is a measure in that direction. Access to justice is fundamental to preserve the rule of law in the…
  • M/s N. K. Jewellers vs. CIT (Supreme Court) In view of the amendment made in Section 132A of the Income Tax Act, 1961 by Finance Act of 2017, the 'reason to believe' or 'reason to suspect', as the case may be, shall not be disclosed to any person or any authority or the Appellate Tribunal as recorded by…
  • Dayawanti vs. CIT (Supreme Court) In Dayawanti Gupta vs. CIT 390 ITR 496 (Del), the assessee argued before the Delhi High Court that since no incriminating material was found during or pursuant to the search, additions, made on the basis of block assessment, were unsustainable inasmuch as they revisited finally settled assessments. It was submitted…

Related Judgements

  1. Infosys Technologies (Supreme Court) 

    (i) A stock option which is subject to a ‘lock-in’ is not a chargeable perquisite u/s 17(2) on the date of grant, vesting or exercise. The benfit is purely notional. (ii) s. 17(2)(iiia) inserted w.e.f 1.4.2000 is not clarificatory; (iii) … Infosys Technologies (Supreme Court) Read More »
  2. CIT vs. Suresh N. Gupta (Supreme Court) 

    S. 158BB has to be read with the relevant Finance Act and the surcharge prescribed therein is applicable to a block assessment. The Proviso to s. 113 of the Act, though inserted by the Finance Act 2002 with effect from … CIT vs. Suresh N. Gupta (Supreme…
  3. M/s Ahmed Anis vs. CIT (Supreme Court) 

    Where the assessee had led satisfactory evidence that its business was that of a commission agent and not a trader and 10-11 years had passed, the assessee could not be held responsible for non-appearance of five traders to whom summons … M/s Ahmed Anis vs. CIT (Supreme…
  4. Sumit Bhattacharya vs. ACIT (ITAT Mumbai Special Bench) 

    (i) Amounts received by an assessee from the foreign holding company of his employer company on redemption of stock appreciation rights, being “fruits of employment” is chargeable to tax as “salaries” despite the absence of an employer-employee relationship (ii) there … Sumit Bhattacharya vs. ACIT (ITAT Mumbai Special…
  5. Amadeus Global Travel vs. DCIT (ITAT Delhi) 

    (i) The Amadeus system, by which subscribers in India are enabled to perform the functions of reservation and ticketing, represents a “business connection” because it extends to the Indian territory in the form of connectivity in India and generates income … Amadeus Global Travel vs. DCIT (ITAT Delhi)…