Judgements Uploaded By Users In Category: Income-Tax Act
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The Bombay High Court has held that S. 237 : Refunds-Failure to issue refunds-Alleged “due to system issue“-Negligence of the officers-Court directed the Officer to credit the amount of the refund to the account of the petitioner not later than 10.30a.m on 30th April 2024, along with accumulated interest under section 244A of the Act, up to 29th April, 2024. [S. 244A,… Read More ...
The Bombay High Court has held that S. 45 : Capital gains-Consideration received for subsequent granting of development as per the commitment letter for granting permission to right for uploading TDR is assessable as long term capital gains and not as income from other sources – Substantial question of law raised first time before the Honourable High in an appeal filed by… Read More ...
The Supreme Court has held that Condonation of Delay A decision was taken by the Department not to file an appeal against the impugned order of the ITAT. It was only after coming to know that in the case of M/s Vodafone South Limited, the ITAT, Bangalore Bench had given a decision in favour of the Department that as an afterthought… Read More ...
The Supreme Court has held that A bench of Justices BR Gavai, BV Nagarathna and Pankaj Mithal rejected a batch of review petitions filed by the Commissioner of Income Tax both on merits as well as on the grounds of delay. This means tax liability of foreign software seller without a permanent establishment in India would reduce to the 2% equalisation… Read More ...
The Income Tax Appellate Tribunal Pune Bench has held that Interest on Taxes not to be disallowed under section 43B of the income tax act. In the absence of statutory provisions under the income tax Act that is in absence of specific entry under clause (a) of section 43B of the income tax Act, the interest liability incurred by the assessee on account of delay… Read More ...
The Rajasthan High Court has held that 276CC. Failure to furnish returns of income. For bringing home the charge against the accused for his conviction under Section 276CC of the Act of 1961, it is essential on the part of the Income Tax Department to prove that there was willful attempt to evade any tax, penalty or interest chargeable. In the absence… Read More ...
The Bombay High Court has held that Requiring an assessee to pay more tax by denying deduction under Section 80-IC of the Act would be a case of ‘genuine hardship’ for the purpose of section 119(2)(b) of the Act. The power to condone the delay has been conferred to enable the authorities to do substantial justice and the authorities are expected to… Read More ...
The P&H High Court has held that (i) The submission of the Department that communication of the notice electronically would also include communication of notice by placing it on e-portal and that as the assessee had submitted his form himself on the said e-portal, a presumption can be drawn that he was having knowledge of the notice/reminders which were placed on the… Read More ...
The Delhi High Court has held that S. 153C : Assessment - Income of any other person - Search – Block period - The period of the “relevant assessment year” is to be calculated, to the date of receipt of the books of accounts, documents or assets seized by the jurisdictional AO of the non-searched person- Block periods would have to be… Read More ...
The Bombay High Court has held that Even 143(1) assessment cannot be reopened for conducting fishing enquiry or merely on suspicion. Where trust is a religious institution which receives offerings from devotees to their deity of faith in cash or otherwise, mere fact that there are cash deposits cannot mean that there is any reason to believe that income has escaped assessment,… Read More ...