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Assistant Commissioner of Income-tax (Exemptions) Vs Ahmedabad Urban Development Authority (Supreme Court)
Supreme Court of India: Assistant Commissioner of Income-tax (Exemptions) Vs Ahmedabad Urban Development Authority (Supreme Court) Date-19th October 2022 Sub-What is the meaning of the Object of General Public Utility(GPU) in Section 2(15) of the Income-tax Act,1961 and when that object of GPU gets converted into trade, commerce or business so as to attract the limits laid down in… Read More ...
M/s New Noble Education Society Vs The Chief Commissioner of Income-tax and another (Supreme Court)
Supreme COurt of India : M/s New Noble Education Society Vs The Chief Commissioner of Income-tax and another (Supreme Court) Date-19th October 2022 Sub-Whether an institution claiming exemption u/s 10(23C) has to exist solely for the purpose of education or it can have income from other sources as well and connected issues? The three judges bench of Supreme Court in… Read More ...
Geeta Agarwal Vs Income-tax Officer (Rajasthan High Court)
Rajasthan High Court : Geeta Agarwal Vs Income-tax Officer (Rajasthan High Court) Date-11th October 2022 Sub-Notice u/s 148 issued on 26th July, 2022 for AY 2016-17 for income escaping Rs 8 lacs stayed in view of the same having been issued beyond three years from the end of the Assessment year for an amount of income escaping assessment below… Read More ...
Hero Motocorp Limited Vs Union of India & Ors (Supreme Court)
SupremeCourt of India: Hero Motocorp Limited Vs Union of India & Ors (Supreme Court) Date-17th October 2022 Sub-Whether a writ of mandamus lies against the Central Government to allow 100% exemption from GST in view of similar exemption of excise duty having been allowed vide office Memorandum issued in the year 2003? Whether there can be a promissory… Read More ...
Deputy Commissioner of Gift-tax, Central Circle – II Vs M/s BPL Limited (Supreme Court)
SupremeCourt of India : Deputy Commissioner of Gift-tax, Central Circle - II Vs M/s BPL Limited (Supreme Court) Date-13th October 2022 Sub- Whether promoters shares which are locked in, when gifted have to be treated as quoted or unquoted shares for the purpose of valuing the gift for taxability under the Gift-tax Act, 1958? An interesting question arose in… Read More ...
The State of Madhya Pradesh and another Vs Commercial Engineers and Body Building Company limited (Supreme Court)
Supreme Court of India : The State of Madhya Pradesh and another Vs Commercial Engineers and body building company limited (Supreme Court) Date- 14th October 2022 Sub-When Writ petition under Article 226/227 of the Constitution of India can be entertained by Courts disregarding the statutory remedy available under the respective Act. The Supreme Court of India in this short judgement… Read More ...
M/s Thermax Limited Vs Commissioner of Central Excise, Pune (Supreme Court)
Supreme Court of India : M/s Thermax Limited Vs Commissioner of Central Excise, Pune(Supreme Court) Date-13th October 2022 Sub-Whether MVAC manufactured by the petitioner can be classified as Heat Pump to be eligible for concessional rate of duty in terms of exemption notification? Relevance of definition given in HSN, Market/common Parlance and Principal Purpose test explained. The Supreme Court in… Read More ...
Checkmate Services Pvt ltd Vs CIT- I (Supreme Court)
Supreme Court of India : Checkmate Services Pvt ltd Vs CIT- I (Supreme Court) Date -12th October 2022 Sub- Deduction u/s 36(1)(va) in respect of delayed deposit of amount collected towards employees’ contribution to PF can not be claimed when deposited within the due date of filing of return even when read with Section 43B of the Income-tax Act,1961. This… Read More ...
Gyan Traders Limited Vs CIT, Kolkata-II (Calcutta High Court)
Calcutta High Court : Gyan Traders Limited Vs CIT, Kolkata-II Date-30th September, 2022 Sub-What is the criteria for determining whether the profit on sale of shares is business income or capital gains? The issue regarding the profit on sale of shares being business income or capital gains is an issue which has never been settled. The fight continues depending… Read More ...
Stewart Science College,Cuttack Vs ITO Ward 1(1), Cuttack (Orissa High Court)
Orissa High Court : Stewart Science College,Cuttack Vs ITO Ward 1(1), Cuttack (Orissa High Court) Date 27th September,2022 Sub- Whether an assessee claiming exemption from filing of return of income u/s 10/11 can be issued notice u/s 148? The matter related to issue of notice u/s 148 for AY2015-16 in view of cash deposit in bank etc and admitted… Read More ...