Judgements Uploaded By Users In Category: Income-Tax Act
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The ITAT MUMBAI has held that Disallowance of interest under section 36 (1)(iii) - Deposit for premises -Related party - assessee has interest free funds available with it in the form of share capital and free reserve : No disallowance : Dies written off- no sale of Dies during the year - valuation increase/decrease in the dies is not at all… Read More ...
The Bombay High Court has held that S. 254(1) : Appellate Tribunal-Duties-Housing project- Tribunal cannot differ from earlier order of Tribunal in assessee’s own case and follow the order of Tribunal in another assessee-The matter has to be referred to larger Bench in case the Tribunal desires to differ from earlier order of the Tribunal-The Tribunal should have considered the order of… Read More ...
The Allahabad High Court has held that Reassessment — Reopening of assessment — Reopening notice issued under unammended provisions — Reliefs sought in petition is to q uash impugned notice u/s 148 — Held, as per Clauses 6.2 and 7.1 of Board's Circular dated 11.05.2022, if a case does not fall under Clause (b) of sub-Section (i) of Section 149 for Assessment… Read More ...
The INDORE has held that 1. Appeal against intimation u/s 143(1)(a) / 154 is maintainable 2. The amendment made by Finance Act, 2021 for disallowance of EPF & ESIC is applicable from the assessment 2021-22 and subsequent year. 3. From bare reading of sub section (3) of section 199 read with sub Rule 3(1) of Rule 37BA. make it unambiguously… Read More ...
The Mumbai Tribunal has held that S. 32 : Depreciation-Asset purchased from and leased back-Entitle depreciation-Assessment-Direction of the Tribunal to follow the Judgement of Special Bench-While giving effect High Court decided contrary to the Judgement of Special Bench-Assessing Officer is bound to follow the order of High Court -Asset purchased from and leased back -Entitle depreciation-Business expenditure-Amount paid fees paid to… Read More ...
The Delhi High Court has held that Hon’ble Delhi High Court set asides order u/s 148A(d) and Notice u/s 148 of Income Tax Act, 1961 dated 31-03-2022. (Writ Petition (C) 8238-2022) Annexure enclosed with the order u/s 148A(d) clearly recoded that assessee’s case was not fit for issuance of notice u/s 148 of the Act. AO personally appeared before the court and… Read More ...
The Bombay High Court has held that S.144B – Cryptic unreasoned order of three lines rejecting Petitioners objections passed – Faceless Assessment order set-aside. Faceless Assessing Officer passed the following order on petitioners objection to draft assessment order: “The reply of the assessee has duly been considered and also in the VC, the assessee has failed to explain his issue properly. Therefore,… Read More ...
The Delhi high court has held that S. K.Srivastava(Retd) Vs CBDT (Delhi High Court) Date-1st June,2022 Sub- Whether NFAC is not being an income-tax authority is not authorised to pass assessment order and other issues related to reassessment proceedings challenged by a Retd Officer of Income-tax department. In an interesting case, a Retd Officer of Income-tax department was pitted against CBDT when… Read More ...
The Allahabad High Court has held that Srhi Tarun Bajaj, Revenue Secretary to the Government of India, New Delhi dated 19.5.2022 had filed an Affidavit in Harish chandra bhati vs. PCIT if order passed is high-pitched, or there is non-application of mind or gross negligence action shall be taken against such officers. this order passed by AO is patently erroneous and grossly… Read More ...
The Allahabad High Court has held that A personal affidavit of Shri Tarun Bajaj, Revenue Secretary to the Government of India, has taken on record. The Government shall take all actions against the erring officers where it is established that assessment framed is High-pitched Assessment, there is non-observance of principles of natural justice, non-application of mind or gross negligence of Assessing Officer/Assessment… Read More ...