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DCIT v. Manish Vijay Mehta (Mum.)(Trib.)
Mumbai Tribunal : S. 68 : Cash credits-Foreign bank deposits-HSBC account-Non-Resident-Merely on the basis of ‘base note’ addition cannot be made in the hands of non-Resident-Deletion of addition is affirmed. [S. 5(2), 6, 147, 148] The assessee is a non-resident since AY. 2001-02. The assessee is working an employee in Belgium and has no business communication in India… Read More ...
Registrar of Assurance & Anr Vs ASL Vyapar Pvt ltd & Anr (Supreme Court)
Supreme court: Registrar of Assurance & Anr Vs ASL Vyapar Pvt ltd & Anr (Supreme Court) Date-10th November, 2022 Sub- Whether Registrar while registering any immovable property ,the value of which has been determined in a court monitored public auction can apply the provisions of Section 47A of the Indian Stamp Act (West Bengal Amendment) Act, 1990… Read More ...
M/s Texco Marketing Pvt ltd Vs Tata AIG General Insurance Company Ltd & Ors (Supreme Court)
Supreme Court of India : M/s Texco Marketing Pvt ltd Vs Tata AIG General Insurance Company Ltd & Ors (Supreme Court) Date-9th November, 2022 Sub-Whether an exclusion clause destroying the very contract knowingly entered, can be permitted to be used by a party who introduced it, becomes a beneficiary and then to avoid its liability? The Supreme Court of India… Read More ...
G-Trans Logistics (India) P Ltd Vs ITO (ITAT Delhi)
ITAT Delhi : CIT(A) dismissed the appeal just on the ground that in Form No.35, the section of assessment order mentioned is 144 instead of 143(3). CIT(A) held that it is an incurable defect. Tribunal noted that CIT(A) has not specified under which law, it is an incurable defect. On query in this regard from the ITAT, the… Read More ...
Municipal Corporation of Greater Mumbai & Ors Vs Property Owners’ Association & Ors (Supreme Court)
Supreme Court of India : Municipal Corporation of Greater Mumbai & Ors Vs Property Owners’ Association & Ors(Supreme Court) Date-7th November,2022 Sub-When the property tax is levied on the basis of capital value system as against rateable value system, whether capital value can be fixed on the basis of future intended use or has to be fixed on the basis… Read More ...
Institute of Company Secretaries of India Vs Biman Debnath & Ors (Supreme Court)
Supreme Court of India : Institute of Company Secretaries of India Vs Biman Debnath & Ors (Supreme Court) Date-7th November,2022 The Supreme Court of India today quashed the order of Single and Division bench of Calcutta High Court quashing and setting aside the election of office bearers of EIRC of ICSI held on 27-12-2021 by explaining the difference between vacation… Read More ...
CIT Indore Vs S Kumars Tyres Manufacturing Co Ltd (Madhya Pradesh High Court)
Madhya Pradesh High Court : CIT Indore Vs S Kumars Tyres Manufacturing Co Ltd (Madhya Pradesh High court) Date-4th November,2022 Sub-Whether there can be any penalty u/s 271(1)(c) in respect of a debatable issue? The Division bench of Madhya Pradesh High Court was considering department’s appeal when ITAT had given relief to the assessee by holding that there could not… Read More ...
State Bank of India Vs Assistant Commissioner of Income-tax (Supreme Court)
Supreme Court of India : State Bank of India Vs Assistant Commissioner of Income-tax (Supreme Court) Date- 4th November 2022 Sub-Whether an employer is liable to deduct tax at source on leave travel concession(LTC) paid to its employees and whether when the LTC is claimed by the employee for the shortest route between place of work and home town though… Read More ...
Sri Ramjanki Tapovan Mandir Ranchi Vs CIT(Exemptions) [Jharkhand High Court]
Jharkhand High Court : Sri Ramjanki Tapovan Mandir Ranchi Vs CIT(Exemptions)[Jharkhand High Court] Date-3rd November,2022 Sub: Whether deity of a temple can transfer land belonging to the trust and whether Tribunal can travel beyond the reasons recorded in the order impugned before it and develop a complete de novo case for the Revenue. The Hon’ble Division Bench of Jharkhand… Read More ...
OCL Limited Vs State of Orissa & Ors (Supreme Court)
Supreme Court of India : OCL Limited Vs State of Orissa & Ors (Supreme Court) Date- 4th November, 2022 Sub-Whether the exclusion of an industrial area or areas from the limits of municipal councils or municipalities under the state laws in exercise of statutory power or by virtue of a declaration under proviso to Article 243-Q, would result in that… Read More ...