Judgements Uploaded By Users In Category: Income-Tax Act
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The Supreme Court of India has held that Singapore Airlines Limited Vs CIT, Delhi (Supreme Court) Date-14th November,2022 Sub-Whether an airline is responsible for deducting tax at source in respect of supplementary commission which an agent is paid on the difference between the actual fare and the net fare- Section 194H of Income-tax Act, 1961 analysed including whether liability to deduct when the… Read More ...
The DELHI HIGH COURT has held that Held in detail by division bench of Delhi High Court comprising of Justice Vibhu Bakhru and Justice Amit Mahajan that AO cannot assume jurisdiction u/s 147 for re-opening the assessment in order to correct an error in the original assessment order framed u/s 143(3). Held that re-opening for reviewing the earlier assessment order is forbidden… Read More ...
The Mumbai Tribunal has held that 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 ...
The ITAT Delhi has held that 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 ...
The Madhya Pradesh High Court has held that 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 ...
The Supreme Court of India has held that 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 ...
The Jharkhand High Court has held that 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 ...
The Orissa High Court has held that Anil Raj Tuli Vs ITO, NFAC Delhi and others (Orissa High Court) Date-3rd November 2022 Sub- Reassessment notice u/s 148 for AY 2014-15 dated 30th March 2021 issued under the old law quashed in view of change of opinion. The Chief Justice Bench of Orissa High court in this case was interalia dealing with objection… Read More ...
The Supreme Court of India has held that Assistant Commissioner of Income-tax(Exemptions) Vs Ahmedabad Urban Development authority(Supreme Court) Date-3rd November,2022 The Supreme Court today was hearing a miscellaneous application which was filed by the department seeking clarification in relation to the judgement of the Supreme Court which was pronounced on 19th October, 2022 (original judgement)regarding interpretation of Section 2(15) of Income-tax Act,1961. As… Read More ...
The BANGALORE ITAT has held that additional income declared during the course of survey can be treated as business profits and remuneration paid to partners on the same is to be allowed u/s 40(b) - Held Yes Read More ...