Judgements Uploaded By Users In Category: Income-Tax Act
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The Calcutta High Court has held that PCIT Asansol Vs Durgapur Projects Limited (Calcutta High Court) Date-24th February 2023 Sub- Whether provisions of Section 50C can be applied when the immovable property is compulsorily acquired by the Government? Whether the definition of transfer u/s 2(47) can be considered for applying Section 50C or only when the transfer involves payment of stamp duty… Read More ...
The Mumbai Tribunal has held that S. 253 : Appellate Tribunal-Maintainability-Consolidated order of CIT(A) for more than one year-One appeal cannot be filed against two reassessment orders for the same assessment year-Income-tax Appellate Tribunal Rules, 1963-R. 9-Appeal of revenue was dismissed. [S. 132, 153C, ITAT R. 9] There were two different search and seizure actions conducted by the Department and the… Read More ...
The Bombay High Court has held that S. 147 : Reassessment-After the expiry of four years-Valuation of equity shares-Share premium-Income from other sources-No failure to disclose material facts-Notice of reassessment and order disposing objection was quashed. [S. 56(2)(viib), 148, Art. 226] The reason for reopening of the assessment was the petitioner had issued premium of Rs. 17 per share, which was not… Read More ...
The Bombay High Court has held that S. 147 : Reassessment-After the expiry of four years-Loans and advances to sister concern-Allegation of colourable device-No failure to disclose material facts-Notice of reassessment and order disposing objection was quashed. [S. 69, 148, Art. 226] The original assessment was completed under section 143(3) of the Act. The reassessment notice was issued on 30-3-2021, on the… Read More ...
The Calcutta High Court has held that Kamal Nath Vs PCIT Kolkata-9 & Ors(Calcutta High Court) Date-10th February 2023 Sub-Whether an order for transfer of a case from one city to another is an administrative order or a quasi judicial order and also whether reasons are required to be recorded for passing such an order? In this high voltage case related to… Read More ...
The Delhi High Court has held that S. 147 : Reassessment-After the expiry of four years-Verification tax residency certificate issued by other jurisdiction-For determining residential status, treaty eligibility and legal ownership-bad in law-Reassessment Notice quashed-DTAA-India- Singapore. [S. 143(1), 148, Art. 13(4), Art. 226] The reassessment notice was issued to verify the genuineness of the Transaction. The assesse filed the objections to the… Read More ...
The Calcutta High Court has held that Rupahali Sarees Pvt ltd & Anr Vs. Union of India & Ors(Calcutta High Court) Date-24-1-2023 Sub-The petition in this case filed to challenge inaction on part of CIT(Appeals) in deciding the appeal against order u/s 263 which was filed on 27-1-2020 even though almost 3 years had passed. The Ld Judge after listening to arguments… Read More ...
The Bombay High Court has held that S. 148A : Reassessment - Conducting inquiry, providing opportunity before issue of notice – Unsigned notice – Order is bad in law- Notice and order was quashed . [S. 147, 148 292B, Art. 14, 226] Petitioner is a non-resident Indian, residing in Dubai, UAE and since his total income for the relevant financial year was… Read More ...
The Bombay High Court has held that S. 69C : Unexplained expenditure-Civil Contractor engaged in civil construction contracts- Purchases from suspicious dealers-Official websites of the Sales Tax Department, Government of Maharashtra -Bogus purchases-Books of account not rejected-Opportunity for cross examination was not provided-Purchases through banking channels- Deletion of addition is upheld. [S. 133(6), 143(3)] The assessee is in the business of Civil… Read More ...
The Bombay High Court has held that S. 279 : Offences and prosecutions – Sanction - Chief Commissioner – Commissioner – Compounding can be done beyond a period of 12 months – Guidelines contrary to the Act–Rejection of Compounding Application Quashed. [S. 192, Art. 226] There was delay in depositing the tax deducted at source on account of TDS deducted from the… Read More ...