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DCIT v. Surbhit Impex Pvt. Ltd (ITAT Mumbai)
Mumbai Tribunal : S. 41(1) : Profit Chargeable to tax - Remission or cessation of trading liability-Amounts not written off-matter sub-judice before Hon'ble High Court - No addition can be made- Department should be more careful while filing the appeal before the Appellate Tribunal where the facts are undisputed. The Hon'ble ITAT Mumbai in a Departmental appeal challenging… Read More ...
Tapas Kumar Basak Vs ADIT (International Taxation) & Ors(Calcutta High Court)
Calcutta High Court: *Tapas Kumar Basak Vs ADIT Int Tax & Ors * *Forum-Calcutta High Court* *Date-16th September,2021* *WPO No 931 of 2007* *Sub- Whether commissioner in exercise of power u/s 264 can revise the order passed by the AO treating the assessee as a resident even though the assessee claimed the status of Non resident?* The assessee… Read More ...
Director of Income-tax New Delhi Vs Mitsubishi Corporation (Supreme Court)
Supreme Court: Director of Income-tax New Delhi Vs Mitsubishi Corporation Date-17th September,2021 Forum-Supreme Court of India Subject-Whether interest u/s 234B for default in payment of advance tax due to non deduction of tax at source by the payer is liable to be paid for AY 2012-13 and earlier years (as the law was amended with effect from… Read More ...
Vijaykumar Bhima Dighe vs. UOI (Bombay High Court – Nagpur Bench)
Bombay High Court (Nagpur Bench): Appointment of Members-Adjudicating Members-State Consumer Commission-District Consumer Forums- Tribunals-Appointment Process, Minimum experience-20 years for appointment of President and 15 years for members of state Commission- Unconstitutional and violative of Article 14 of the Constitution of India- Advocate with 10 years of experience at the Bar eligible for appointment as Members in Tribunals- Rules-Struck down. [Consumer… Read More ...
PCIT, Central-2, Kolkata Vs Settlement Commission (Income-tax & Wealth-tax & anr, (Calcutta HIgh Court)
Calcutta high court: PCIT Central-2, Kolkata Vs Settlement Commission(Income-tax & Wealth-tax & Anr) WPO No 289 of 2017 Forum-Calcutta High Court Date -14th September, 2021 Sub-What are the grounds on which the High court can interfere with the order passed by the Settlement commission in its extraordinary writ jurisdiction under Article 226 of the Constitution of India? In… Read More ...
Harshhvardhan Chhajed v. DGIT (Rajasthan High Court)
Rajasthan High Court : S. 132 : Search and seizure-Seizure of stock in trade-Seizure was held to be illegal-Directed to release the stock in trade and also directed to pay interest of Rs. 1 lakh to the petitioner. [S. 132(4), 132B, Art. 226] The petitioner no. 3 was travelling from Mumbai to Jaipur he was carrying Jewellery and diamond.… Read More ...
Ideacount Education Pvt. Ltd. v. ACIT (ITAT Mumbai)
Mumbai Tribunal : Coram: Honouarble Mahavir Singh Vice-President, and Honourable M. Balaganesh, AM S. 147 : Reassessment-Change of head-Income from other sources- Share capital-Notice was issued to assess the excess share premium under section 56 of the Act-Addition was made under section 68 of the Act as cash credits-Reassessment is held to be bad in law. [S. 56,… Read More ...
South Indian Bank limited Vs CIT (Supreme Court of India)
Supreme Court of India: South Indian Bank Limited Vs CIT Civil Appeal No 9606 of 2011 Forum-Supreme Court of India Date-9th September, 2021 Sub-Whether proportionate disallowance of interest paid by the banks is called for under Section 14A of Income Tax Act for investments made in tax free bonds/ securities which yield tax free dividend and interest to assessee… Read More ...
Palak Khatuja v. UOI (Chhattishgarh High Court)
Chhattishgarh High Court : S. 148 : Reassessment - Notice - Constitutional Validity - Issued between April 01, 2021 to June 30, 2021 - Without following S. 148A - Conducting inquiry, providing opportunity before issue of notice under section 148 - Taxation and other Law (Relaxation and Amendment of Certain Provisions) Act, 2020 and subsequent notifications - held Constitutionally… Read More ...
ADIT(IT) v. Asia Today Ltd. (Mum.)(Trib.)
Mumbai Tribunal : S. 9(1)(i) : Income deemed to accrue or arise in India – DTAA – India - Mauritius - Change of domicile from British Virgin Islands to Mauritius - Entitle to benefits of India-Mauritius DTAA - Dependent agency permanent establishment (DAPE) - As long as an agent is paid an arm's length remuneration for the services… Read More ...