Judgements Uploaded By Users In Category: Income-Tax Act
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The Madras High Court has held that Pentamedia Graphics Limited Vs ACIT Media Circle-1 Chennai WP No 28836 & 28837 of 2014 Date-20th July 2021 Forum -Madras High Court Sub- whether the period of limitation u/s 153 for the purpose of passing order u/s 148 in a case where proceedings are stayed by a court are to be counted from the date… Read More ...
The Madras High Court has held that *Vedanta Limited Vs DCIT CompanyCircle 6(2), Chennai *. *WP No 25529 of 2015* *Forum Madras High Court* *Date -15th July2021* *Sub-Whether when the notice u/s 148 is issued in the name of a company which is already merged with another company, Can the apex court decision in the case of Maruti Suzuki be applied or… Read More ...
The Calcutta High Court has held that *Tripura Cricket Association Vs The ACIT & Ors* *Date 26th July 2021* *Forum Calcutta High Court* *WPA No 8480 of 2020 and 8483 of 2020* *Sub-Whether petition u/s 119(2)(b) of the Income-tax Act,1961 for condonation of delay in filing Form No 10 can be entertained by CBDT beyond the period as prescribed* The appellant in… Read More ...
The Mumbai Tribunal has held that S. 54F : Capital gains-Investment in a residential house-Sale of land -Allotment of flat as per an escrow document-Denial by builder- Assessing Officer taxing the value of flat as deemed consideration and denying the exemption-Since Assessee has performed his part of duty by disclosing the sale prior to its receipt, then it is deemed on… Read More ...
The Delhi High Court has held that Civitech Developers Private Limited Vs National E-assessment Centre, New Delhi Date-22nd July 2021 Forum-Delhi High Court Sub-Whether grant of personal hearing is mandatory before an e-assessment order is passed In this case where the request for personal video link was not enabled inspite of repeated requests, the Appellate could not explain the complex issue to… Read More ...
The Delhi High Court has held that S. 254(1) : Appellate Tribunal-Duties-High Court directed the Appellate Tribunal to upload the daily order sheets and revised cause list on its website-System in this regard be put in place by the ITAT, if not already there as expeditiously as possible, preferable within three months. [S. 255, Art. 226] The Miscellaneous application of the assessee… Read More ...
The ITAT Delhi has held that To elaborate, Section 142 of the Act provides for the procedure to be followed by the A.O. while making the requisite enquiries before concluding an assessment. Section 142(1) of the Act empowers the A.O. to call for information/material from the assessee. Section142 (2) empowers the A.O. to make such enquiry as may be necessary for… Read More ...
The MADRAS HIGH COURT has held that After 4years from the end of the assessment year, a scrutiny assessment allowing deduction u/s. 10B can't be re-opened for the reason that the approval by Industries Department has not been ratified by the board. Read More ...
The Mumbai Tribunal has held that S. 23 : Income from house property-Annual value-Annual value should be restricted to municipal ratable value-Estimate at 6% of cost of value of flat was held to be not justified. [S. 22, 23(1)(c)] The Assessing Officer adopted 8% of the cost of flat while computing the notional value of the house property. On appeal the… Read More ...
The Delhi high court has held that Coforge Limited (formerly known as NIIT Limited) Vs ACIT Forum- Delhi High court Date 5th July 2021 Sub- whether commuted value of lease rent for 90 years paid in one go in an year is a revenue expenditure deductible in the year of payment. The Delhi high court in this case was dealing interalia with… Read More ...