Judgements Uploaded By Users In Category: Income-Tax Act
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The Allahabad High Court has held that “(i) Whether digitally signing notice would automatically amount to issuance of notice ? (ii) Whether digitally signing a notice and issuing it are two different acts ? (iii) Whether issuance of notice shall take place on the date and time when it is dispatched either electronically or through other mode ? (iv) Whether merely generating… Read More ...
The Bombay High Court has held that S. 147 : Reassessment-After the expiry of four years-Change of opinion-Subsidy-Provision for expenses-Query raised during assessment proceedings-Reply filed-It is not necessary that the assessment order should contain reference or discussion in the assessment order-Order was quashed-Court observed that the order of disposal of objections in to 21 pages and referring 68 case laws without referring… Read More ...
The Bombay High Court has held that S. 44AB : Audit of accounts-Business-Profession–Remuneration received from Partnership Firm-Firm is separate legal entity- Remuneration and interest from partnership firm-Not to be included in gross receipt or turnover-Presumptive basis-No tax Audit is required, if remuneration does not exceeds threshold limit for Tax Audit- Return cannot be treated as invalid for failure to get Tax Audit… Read More ...
The Delhi ITAT has held that Section 263 revisonary proceddings under Income Tax Act, 1961 against a dead person are null and void regardless of the fact whether Department was privy of death or not and Notice issued to the Assessee for attendence on next day shows casual approach of a very senior functionary of the Department that does not augur… Read More ...
The Madhya Pradesh HIgh court has held that Yuvraj Vs Income-tax officer, Bhopal Forum-Madhya Pradesh High Court Date- 03rd March 2022 Sub-Whether notice dated 31st March 2022 served by email on 16th April, 2022 is a valid issue of notice u/s 148 of the Income-tax Act,1961 The Hon’ble High Court in this case was called upon to decide as to when the notice… Read More ...
The Orissa High Court has held that Indian Metal & Ferro Alloys Limited Vs CIT Bhuwaneshwar Date-04th March 2022 Forum- Orissa High Court Sub-Whether deposit of electricity duty in no-lien escrow account satisfies the conditions of payment for the purpose of Section 43B of the Income-tax Act 1961 and thus eligible for deduction. Also whether details of the expenses incurred on stay,… Read More ...
The Delhi High court has held that CIT(International Taxation-2) Vs Gracemac Corporation Forum-Delhi High Court Date-7th March 2022 Sub-Whether licensing of software is liable to be treated as royalty within the meaning of Section 9(1)(vi) of the Income-tax Act,1961 read with Article 12 of the Double Taxation Avoidance Agreement between India and USA. The Delhi High court in this case was considering… Read More ...
The Bombay High Court has held that S. 147 : Reassessment-Revenue directed to guidelines for reassessment- CBDT to issue guidelines to its officerrs based on the Order with clear instructions which are to be strictly followed. [S. 148, 149, 150, 151, Art. 226] The Hon’ble Bombay High Court, inter alia directed the revenue to adhere to certain guidelines to be followed for… Read More ...
The RAJASTHAN HIGH COURT JAIPUR has held that The High Court confirmed the quashing of the reassessment order by the Tribunal in absence of a valid service of notice u/s 148 prior to making of the assessment, holding that the Tribunal came to the factual finding that before passing the order of the assessment, notice of reopening was never served on the assessee… Read More ...
The Supreme Court has held that S. 37(1) : Business expenditure-Explanation 1-Freebies given to doctors-Prohibited by law-Disallowed as expense-Interpretation-Taxing statutes to be interpreted strictly. [Medical Council Act, 1956, S. 20A , Medical Council (professional Conduct, Etiquette and Ethics) Regulations, 2002, R. 6.8, Contract Act, 1872, S. 23, General Clauses Act, 1897, S.2(38), Indian Penal Code, 1860, S. 40, 43] Honourable Supreme… Read More ...