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PRINCIPAL COMMISSIONER OF INCOME TAX VS MAHLA REAL ESTATE (P) LTD (Rajasthan High Court)
RAJASTHAN HIGH COURT JAIPUR: The High Court confirmed the quashing of the reassessment order by the Tribunal in absence of a valid service of notice u/s 148 prior to making of the assessment, holding that the Tribunal came to the factual finding that before passing the order of the assessment, notice of reopening was never served on the assessee… Read More ...
Apex Laboratories Pvt. Ltd. v. Deputy Commissioner of Income Tax (Supreme Court)
Supreme Court: S. 37(1) : Business expenditure-Explanation 1-Freebies given to doctors-Prohibited by law-Disallowed as expense-Interpretation-Taxing statutes to be interpreted strictly. [Medical Council Act, 1956, S. 20A , Medical Council (professional Conduct, Etiquette and Ethics) Regulations, 2002, R. 6.8, Contract Act, 1872, S. 23, General Clauses Act, 1897, S.2(38), Indian Penal Code, 1860, S. 40, 43] Honourable Supreme… Read More ...
JM Financial Foundation v. CIT (ITAT Mumbai)
Mumbai Tribunal : S. 263 : Commissioner-Revision of orders prejudicial to revenue- CSR funds received-Specific projects-Not income of the trust- sustainable view taken by the Ld. AO-Order of revision set aside. [S. 2(24), 11] Where the Ld. Assessing Officer (AO), inter alia, had relied on the decision of the Hon’ble Delhi High Court in the case of DIT… Read More ...
KLJ ORGANIC LTD vs COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION) – 2 (Delhi High Court)
HIGH COURT OF DELHI: The Hon'ble Delhi High Court has recently decided a case where the Hon'ble Court was pleased to apply section 14 of the Limitation Act in the Income Tax Proceedings to exclude the time the assessee had spent in pursuing its remedies before a forum without jurisdiction for the calculation of limitation period. The relevant part… Read More ...
RAJIV AGARWAL vs DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE 20, NEW DELHI & ANR (Delhi High Court)
HIGH COURT OF DELHI: THE HON'BLE HIGH COURT HAS BEEN PLEASED TO ISSUE NOTICE ON THE WRIT PETITION RAISING THE QUESTION OF LAW THAT "WHETHER THE AMENDMENT BROUGHT ABOUT BY THE FINANCE ACT 2017 UNDER SECTION 153C OF THE ACT IS PROSPECTIVE FROM THE DATE OF SEARCH" [W.P.(C) 3221/2022, 3224/2022, 3152/2022,3153/2022, 3155/2022] Read More ...
Krishi Upaj Mandi Samiti, New Mandi Yard, Alwar Vs Commissioner of Central Excise and Service Tax, Alwar (Supreme Court)
Supreme Court: Krishi Upaj Mandi Samiti, New Mandi Yard, Alwar Vs Commissioner of Central Excise and Service Tax, Alwar Forum-Supreme Court of India Date -23/02/2022 Sub- Whether exemption notification has to be construed strictly and the meaning has to be given to it according to legislative intent. The Supreme Court in this case was called upon to… Read More ...
Horticulture Experiment Station Gonikopal, Coorg Vs Regional Provident Fund Organisation (Supreme Court)
Supreme Court of India: Horticulture Experiment Station Gonikopal, Coorg Vs Regional Provident Fund Organisation Forum-Supreme Court of India Date-23rd February 2022 Sub-Whether element of Mens rea (guilty mind) is essential for violation of civil laws. The Supreme Court in this case was called upon to decide that once an employer violated the law relating to deposit of PF, whether… Read More ...
E-Land Apparel Ltd. v. ACIT (Bombay High Court)
Bombay High Court : S. 147 : Reassessment-After the expiry of four years-Interest and property tax paid subsequently after slump sale-Claimed as deduction in the year of payment-Amount disclosed in tax audit report relying on case law-Reassessment notice for incorrect claim- Change of opinion-Reassessment notice was quashed. [S. 43B, 44AB, 148 , Art. 226] In the Form No 3CD… Read More ...
Rakesh Garg Vs PCIT Ajmer (Rajasthan High court)
Rajasthan high court : Rakesh Garg Vs PCIT Ajmer Forum-Rajasthan High Court Date-17th February 2022 Sub-Whether Appeal filed before ITAT after the cut-off date of 31/1/2020 and delay in filing the appeal having been condoned, the application under the Vivad Se Vishwas Act 2020 is eligible to be accepted or is to be rejected in terms of FAQ No… Read More ...
DCIT v. Dilip J. Thakkar (ITAT Mumbai)
Mumbai Tribunal : S. 149 : Reassessment-Foreign asset-HSBC Geneva account of Trust -Time limit for notice-16 years-Assets held outside India- Introduced vide Finance Act, 2012-Retrospective in nature. [S. 147, 148, 151] A search and seizure operation were carried out in the assessee’s premises on August 10, 2011. Documents were found pertaining to a foreign bank account, based on… Read More ...