Judgements Uploaded By Users In Category: Income-Tax Act
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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 ...
The Orissa High Court has held that *Amber, Bhubaneswar Vs DCIT, Circle 2(1) & Others* *Forum-Orissa High Court* *Date -5th July 2021* *Sub-Whether reassessment in pursuance of information in the course of search amounts to change of opinion and whether not affording cross examination at the objection stage amounts to violation of natural justice.* In the above case the Orissa High Court… Read More ...
The Supreme Court has held that Such lethargy on part of the revenue department with so much computerization having been achieved is no more acceptable. The petitioner has approached the Court in a casual manner without any cogent or plausible ground for condonation of delay. Looking to the period of delay and the casual manner in which the application has been… Read More ...
The Bombay High Court has held that Interim Order: Stay on Notice issued under section 148 of the Act after March 31, 2021 without following the procedure laid down under section 148A of the Act which is effective from April 01, 2021 Read More ...
The Bombay High Court has held that Interim Order. Stay Granted where the Petitioner contends that section 3 of The Taxation And Other Laws (Relaxation And Amendment Of Certain Provisions) Act, 2020 and the Notification No.20/2021 dated 31st March, 2021, Notification No.38/2021 dated 27th April, 2021, Explanation to clause (A)(a) of Notification No.20/2021 and Explanation to clause (A)(b) of Notification No.30/2021 are… Read More ...
The Gujarat high court has held that Reopening u/s 147 in a scrutinised assessment u/s 143(3) beyond a period of 4 years on external information of bogus LTCG exemption in not maintainable. Notice u/s 148 quashed as issue already considered in original assessment amounts to change of opinion. Recent Supreme Court decision of NDTV explained. Read More ...
The Delhi High Court has held that PCIT Vs Brahma Centre development Private Limited Forum - Delhi High Court Date -5th July, 2021 Sub-Whether the enquiry made by the AO during the course of Assessment has any value for the purpose of initiating proceedings u/s 263 and connected issues The matter related to the treatment of interest on fixed deposit which were… Read More ...
The Gujarat High Court has held that Notice under Section 148 has to be 'served' upon the assessee. If Notice is not served, the same is invalid and deserves to be quashed and set aside. Read More ...
The Gujarat High Court has held that Where a issue was not scrutinized under Section 143(3), however queries were raised before issuance of Notice under Section 148 and the Petitioner responded to the queries and furnished all the relevant details, there is no fault in Petitioner's part and the reopening is impermissible. Where Reasons for reopening mentions that Requisite details were not… Read More ...