Judgements Uploaded By Users In Category: Income-Tax Act
These judgements are uploaded by our esteemed readers. If you have a judgement on an important topic that you would like to share with others, please use this form to upload it
The Mumbai Tribunal has held that S. 69 : Unexplained investments-Non-resident-On money-Foreign Resident cannot be taxed under section 69 of the Act-DTAA India -UAE. [S. 132(4), Art. 22] Where the assessee is a non-resident Indian, the assessee had paid cash amounts, as 'on money' to certain Builders in India. This amount was treated as an "unexplained investment" under section 69 of… Read More ...
The Mumbai Tribunal has held that S. 12A : Registration-Trust or institution-Held declining registration on the ground of Indian Premier League (IPL) activities are in the nature of commercial activities is held to be not justified. [S. 2(15), S. 12AA] Where the Department declined registration of a Charitable Organization on the ground of Indian Premier League (IPL) activities are in the… Read More ...
The Gauhati High Court has held that Kartik Sonavane Vs DCIT Circle-8 Forum-Gauhati High Court Date-15th November, 2021 Sub-Whether an employee is entitled to get credit for the TDS deducted on salary even when the employer has defaulted in the payment of the tds so deducted? The Gauhati High Court in this case was considering the case of an employee of the… Read More ...
The mumbai itat has held that Update Assessee filed a return declaring agricultural income as exempt. He filed MOU entered with Cultivator who paid him lease rent and said rent was shown by him as exempt. AO rejected claim as Inspector report showed that no irrigation was done on land and treated the amount as cash credit and taxed the same… Read More ...
The Pune ITAT has held that Revision by CIT u/s 263 of the Act based on the recommendation of the Assessing Officer lacks statutory sanction, hence bad in law Read More ...
The ITAT Mumbai has held that Co-operative banks are basically Co-operative society, the income from the same fall under section 80(2)(d) and deduction can be claimed. Read More ...
The Bombay High Court has held that S. 143(3) : Assessment-Bogus purchases-Estimation of profit at 10% of total alleged bogus purchases is held to be justified-No substantial question of law. [S. 37(1), 40A(3), 260A] The Assessing Officer disallowed the entire purchases as bogus purchases. On appeal the Commissioner of Income-tax (Appeals) estimated the estimated the profit at 15%. On appeal the Tribunal… Read More ...
The Bombay High Court has held that S. 143(3) : Assessment-Natural justice-Covid-19-Lockdown- Returned income was loss of Rs.10,57,049/- and income assessed was Rs.114,57,33,424-Only three working days’ notice was given to file various details-Order passed without giving sufficient time is violative of the principle of natural justice-Order was set aside. [S. 144, Art. 226] The assessee is in the business of trading of… Read More ...
The Orissa High Court has held that Smrutisudha Nayak Vs Union of India & Ors Forum-Orissa High Court Date-27th October 2021 Sub-Whether notice u/s 153A of the Income-tax Act 1961 for conducting search assessment can be issued in a case where no incriminating materials are found during the course of search. The Chief Justice bench of Orissa High Court in this case… Read More ...
The Bombay High Court has held that Final assessment order passed by National Faceless Assessment Centre quashed due to insufficient time being given to respond the Draft Assessment Order. The National Faceless Assessment Centre served a Draft Assessment Order for AY 2018-19 on the Petitioner-assessee on Friday, 23rd April 2021 at 1:40 pm requiring the assessee to respond to the same by… Read More ...