Judgements Uploaded By Users In Category: Income-Tax Act
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The Bombay High Court has held that Assessment orders passed without application of mind liable to be set aside and invite substantial costs to be imposed on such AO. Read More ...
The Supreme Court has held that The CIT, Chennai Vs Mohammed Meeran Shahul Hameed Date-7th October 2021 Forum- Supreme Court of India Sub-Whether the revision order u/s 263 of the Income-tax Act,1961 has to be served within two years from the end of the financial year in which the order sought to be revised was passed for the purpose of limitation?… Read More ...
The Mumbai Tribunal has held that S. 11 : Property held for charitable purposes-Charitable purpose- Strive to promote the trade, commerce and manufacturers of India without seeking to make profits for its members is charitable purpose-Denial of exemption is held to be not justified. [S. 2(15)] The AO denied the exemption under section 11 of the Act by holding that the… Read More ...
The Calcutta High Court has held that Transway Wine Pvt ltd and another Vs PCIT Forum -Calcutta High Court Date-5th October 2021 Sub-whether notice u/s 148 in the name of a company which had already been amalgamated with another company under intimation to the department is bad in law? The Calcutta high Court in this case was considering the writ petition where… Read More ...
The Calcutta High Court has held that Neerja Rateria Vs National Faceless Assessment Centre Date -5th October 2021 Forum-Calcutta High Court Sub-Assessment order for AY 2018-19 quashed on account of violation of natural justice as the password for the Video conference link was not provided. The Calcutta High court in this case was considering the writ petition where the petitioner contended that… Read More ...
The Allahabad High Court has held that The petitioners have challenged the validity of the re-assessment notices issued to them, under Section 148 of the Act. Another challenge has been raised to the validity of the Explanation appended to clause (A)(a) of CBDT Notification No. 20 of 2021, dated 31.03.2021 and Explanation to clause (A)(b) of CBDT Notification No. 38 of 2021,… Read More ...
The Indore has held that S. 4 : Charge of income-tax – Hardship allowance received from the Developer – Capital receipt-Not chargeable to tax. [S. 2(24)(vi)] The Hon’ble Income-tax Appellate Tribunal - Indore Bench in the case of Shri Lawrence Rebello v. ITO ITA No.132/Ind/2020 dated September 29, 2021 inter alia, relying on the decisions of the Hon’ble ITAT- Mumbai… Read More ...
The ITAT DELHI has held that ITAT QUASHES REASSESSMENT PROCEEDINGS AS REASONS SUPPLIED TO THE ASSESSEE DIFFERENT FROM REASONS RECORDED BY ASSESSING OFFICER AND NOT VERBATIM SAME . GIST 10. It is, therefore, clear that the settled position of law on this aspect,as held by the Hon’ble High Court in the case of Haryana Acrylic Manufacturing Co. v. Commissioner of Income… Read More ...
The Bombay High Court has held that S. 143 (3) : Assessment - E-Assessment - Non furnishing draft assessment order - Order not having been passed in conformity with the requirements of the Faceless Assessment Scheme, 2019 held to be non-est and shall be deemed to have never been passed-Order was quashed and set aside. [S. 143(3A), 143(3B), Art. 226] In response… Read More ...
The Bombay High Court has held that S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Interest income-Deduction-Change of opinion-No power of review-Reassessment is held to be bad in law [S. 37(1), 56, 57, 148 , Art. 226] The assessee is engaged in the business of real estate and development. The assessment was completed u/s. 143 (3) of… Read More ...