Gauhati HC: DRT Has to Dispose of Application under Section 17 of SARFAESI Act as per RDB Act  ||  Kerala HC: Showing or Waving Black Flag to a Person Cannot Amount to Defamation  ||  Del. HC: Merit Based Review of Arb. Award Involving Reappraisal of Factual Findings is Impermissible  ||  Del. HC: It is the Product and Not the Technology Used that Determines HSN Classification  ||  P&H HC: Provis. of Punjab Recruitment of Ex-Servicemen (First Amendment) Rules are Unconstitutional  ||  Cal HC: High Time that Irretrievable Breakdown of Marriage be Read as Grounds of Desertion & Cruelty  ||  Supreme Court: Third Party Can File SLP Against Quashing Of Criminal Proceedings  ||  SC: Absolute Ownership in Property as Per HSA Can’t be Claimed by Woman with Limited Interest  ||  SC: Can’t Forego Fundamental Requirements of Election of Society in Absence of Specific Provisions  ||  SC: Special Efforts Should be Made to Identify Women Prisoners Eligible for Release u/s 479 of BNSS    

Search Results for Tag : Inc

Blast from the Past

Giving a constitutional enactment the widest possible meaning(01.11.1954)

It seems prerequisite that any case seeking to send aftershocks into the legal system should have the word Mafatlal in it. Certainly, Mr. Mafatlal her.....

Tags : Income, constitution, interpretation, widest, natural meaning



International Cases

Where, there is challenge on totality grounds, severity of sentence imposed on individual count to be assessed in light of its contribution to total effective sentence(08.12.2016)

Appellant appeals against his conviction on the grounds that a miscarriage of justice occurred due to the appellant wrongly pleading guilty. Appellant.....

Tags : Conviction, Sentence, Totality principle



Income tax is charged on the employment income of an employed diver, which includes fiction that, diver is carrying on a trade(20.05.2020)

In facts of present case, Mr. Martin Fowler is a qualified diver who is resident in the Republic of South Africa. During the 2011/12 and 2012/13 tax y.....

Tags : Employment income, Tax, Levy



Statutory provision should not be interpreted so as to alter the common law unless the intention to do so was clearly reflected in the enactment(04.11.2021)

The appeal concerned the construction to be placed on ‘collection costs’ as defined in Section 1 and whether collection costs in Section 101(1)(g), as.....

Tags : Cost, Inclusion, Post-judgment



Essential operations of the business must be conducted within the jurisdiction in respect of which exemption is sought(07.02.2023)

The Respondent, CIMSA, is the holding company for the Coronation Group which is registered and tax resident in South Africa. During 2012, CIMSA was a .....

Tags : Income, Assessment, Tax



To maintain suit under Article III of US Constitution, it has to be established that sufficient injury in commercial terms has been caused to complainant(17.11.2023)

This case pits real lawyers against a robot lawyer. Defendant DoNotPay, Inc. (“DNP”), is an online subscription service that touts its robot lawyer’s .....

Tags : Robot lawyer, Real lawyer, DoNotPay Inc., MillerKing, Inc



A hereditament is to be valued as it in fact existed at the material day(01.03.2017)

Appellants (“SJJM”) own the freehold of first floor of a three-storey office building built in the 1990s. In past, premises were occupied by tenants a.....

Tags : Property, Valuation, Reality principle



Commissioner is not bound by the three-year period of limitation where full amount of tax chargeable was not assessed due to fraud, misrepresentation, non-disclosure of material facts(15.10.2021)

The issue for determination before present Court was whether the High Court correctly held that, there was a sufficiently close causal link that exist.....

Tags : Assessment, Income, Additions



Location of conduct of business of company quintessential to jurisdiction(11.11.2015)

Hearing a petition against the prejudicial conduct of business by a stakeholder in the company, the Hong Kong High Court gave rather a long stretch to.....

Tags : Jurisdiction, location, conduct of business, incorporation



Top Story

Claiming time of essence in property sale? Prove it!(16.02.2016)

Bangalore High Court set a high threshold for claims that time was of the essence in a contract for sale of immovable property. Onus, however, was pla.....

Tags : reasonable, time of essence, immovable property, sale, income tax clearance



Maximum age of joining National Pension System (NPS) increased from the existing 60 years to 65 years(01.11.2017)

Pension Fund Regulatory and Development Authority (PFRDA) has increased the age of joining under NPS-Private Sector from 60 years to 65 years in order.....

Tags : Age, Increase, NPS



Central Government enhances funds for improving quality of Higher Education(02.08.2018)

In order to provide greater access to Higher Education with equity to all the eligible citizens and in particular to the vulnerable sections, Governme.....

Tags : Funds, Higher education, Increase



Government E-Marketplace Records Four-Fold Increase in Total Value of Transactions in 2018-2019(15.04.2019)

Government e-Marketplace (GeM), the national public procurement portal has closed the FY 2018-2019 on a high note. The year witnessed a four-fold incr.....

Tags : GeM, Transactions, Increase



RBI announces National Strategy for Financial Education 2020-2025(20.08.2020)

In order to strengthen financial inclusion in the Country, RBI announces National Strategy for Financial Education 2020-2025 (NSFE). Financial litera.....

Tags : Financial inclusion, NSFE, Announcement



CBDT extends due dates for filing of Income Tax Returns(11.01.2022)

CBDT extends due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961 (I.....

Tags : Extension, Timelines, Income-tax returns



Union Minister of Finance and Corporate Affairs presented the Union Budget 2023-24 providing major relief in the personal income tax(01.02.2023)

The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2023-24 in Parliament. The Union Minister for F.....

Tags : Budget, Relief, Income Tax



Ministry of Corporate Affairs amends Companies (Incorporation) Amendment Rules, 2021(25.01.2021)

Ministry of Corporate Affair (MCA) has notified Companies (Incorporation) Amendment Rules, 2021 which sought to amend the Companies (Incorporation) Ru.....

Tags : Companies, Incorporation, Rules, Amendment



Cabinet approves the incentive scheme for promotion of RuPay Debit Cards and low-value BHIM-UPI transactions(11.01.2023)

Cabinet Committee of Economic Affairs headed by Prime Minister has approved the incentive scheme for promotion of RuPay Debit Cards and low-value BHIM.....

Tags : Incentive scheme, Approval, RuPay Debit Cards



Cabinet approves the incentive scheme for promotion of RuPay Debit Cards and low-value BHIM-UPI transactions(11.01.2023)

Cabinet Committee of Economic Affairs headed by Prime Minister has approved the incentive scheme for promotion of RuPay Debit Cards and low-value BHIM.....

Tags : Incentive scheme, Approval, RuPay Debit Cards



Cabinet approves the incentive scheme for promotion of RuPay Debit Cards and low-value BHIM-UPI transactions(11.01.2023)

Cabinet Committee of Economic Affairs headed by Prime Minister has approved the incentive scheme for promotion of RuPay Debit Cards and low-value BHIM.....

Tags : Incentive scheme, Approval, RuPay Debit Cards



Highest forex inflows for FY 2021-22 on account of various correctional steps taken by Government(29.07.2022)

Central Government’s initiative on FDI policy reforms have resulted in increased FDI inflows in the country. India has received its highest ever FDI i.....

Tags : FDI inflow, Increase, Measures



Judgments

Value of work entrusted to sub-contractors or payments made shall not be taken into consideration while computing total turnover(05.09.2016)

Assessee was doing business of engineers and contractors and in this process it, executed projects under contracts with public sector undertakings, lo.....

Tags : Payment, Sub-contractor, Inclusion, Total turnover



University established by law in State granting recognized dental qualification, is entitled to representation in Dental Council of India(08.12.2016)

Petitioner, by present petition, seeks a direction to Respondent – Union of India to accept nomination of an elected representative of Petitioner as a.....

Tags : Members list, Inclusion, Elected representative



Deduction under Section 10A would be made while computing gross total income of eligible undertaking under Chapter IV of Act(16.12.2016)

The true and correct meaning and effect of provisions of Section 10A of Income Tax Act, 1961 is the principal issue arising for determination. Appella.....

Tags : Deduction, Computation, Gross total income



Where salary of junior is higher than that of senior, senior is also entitled to fixation of salary at par with her junior(13.07.2018)

The Petitioner, Department of Education, Government of NCT of Delhi, is aggrieved by the judgment, passed by the Principal Bench, Central Administrati.....

Tags : Increment, Grant, Validity



In the absence of any new tangible material, the case could not be reopened on mere change of opinion(01.06.2021)

The material facts are that, the assessee being resident corporate assessee stated to be engaged in power generation, real estate, securities etc. was.....

Tags : Escapement, Income Reassessment, Legality



Court will not ordinarily interfere in policy matters as the same are based on expert knowledge of the persons concerned in the respective fields(18.05.2021)

Present Public Interest Litigation is filed by the Petitioner seeking a direction to the Respondent to expand the scope and ambit of Scheme for Faster.....

Tags : Scheme, Clause, Inclusion



Before making any order under Section 338 DMC Act, the Commissioner shall give reasonable opportunity to the person affected(20.07.2021)

Petitioner impugns order whereby the respondent Corporation has revoked the sanctioned building plan under Section 338 of the Delhi Municipal Corporat.....

Tags : Principles, Natural justice, Breach



Non-consideration of reply filed by the assessee amounts to violation of the principles of natural justice(17.06.2021)

The Appellant, a dealer of printers, peripherals and its parts has approached present Court challenging Exhibit P4 order of assessment issued by the S.....

Tags : Assessment, Natural Justice, Principles



When cost of imported goods is included in amount, which is considered for payment of royalty, then such royalty should be added in assessable value of imported goods(26.12.2017)

In the facts of present case, the Appellant is regularly importing goods from Thailand, China and Philippines. The suppliers of the imported goods viz.....

Tags : Valuation, Inclusion, Validity



The amounts received by the assessee on account of sale of software and other incidental receipts would not constitute royalty within the meaning of Section 9(1)(vi) of IT Act(25.08.2021)

The assessee is a foreign company. It is engaged in the business of development and licencing of software products. During the relevant assessment yea.....

Tags : Assessment, Royalty, Inclusion



Vicarious liability as a principle cannot be applied to a case of contempt(26.10.2021)

The present appeal has been filed against the order of the High Court finding the Appellants guilty of willful disobedience of the order passed in Wri.....

Tags : Vicarious Liability, Principle, Contempt



“Astrological incompatibility” cannot be used as a ground to avoid Rape charges(20.09.2021)

The applicant has filed present revision under Section 397 read with Section 401 of the Code of Criminal Procedure, 1973 (Cr.P.C.) against dismissal o.....

Tags : Astrological incompatibility, Rape



DRT is also a civil court and its order would operate as res judicata(11.07.2022)

Present civil revision under Section 115 of the Code of Civil Procedure, 1908 ("CPC") has been filed by the applicants challenging the order passed by.....

Tags : Principles, Res judicata, DRT



Receipt of the order passed under Section 263 of the IT Act by the assessee has no relevance for the purpose of counting the period of limitation(07.10.2021)

The Assessing Officer (AO) passed an assessment order under Section 143 (3) of the Income Tax Act ( IT Act) for the assessment year (AY) 2008-¬09 vide.....

Tags : Income, Assessment, Time period



Expression "District Magistrate" and the "Chief Metropolitan Magistrate" under Section 14 of the SARFAESI Act includes Additional District Magistrate and Additional Chief Metropolitan Magistrate(27.07.2022)

The borrower has preferred the present appeal against impugned judgment and order passed by the High Court, by which, the Division Bench of the High C.....

Tags : Powers, Inclusion, Jurisdiction



Court refutes arguments transposing arbitration clause from pricing clause(01.07.2016)

An arbitration clause can be incorporated in a contract where reference to the same is made as part of the contract, the Madras High Court reiterated......

Tags : arbitration, clause, incorporation, contract



CIT(A) cannot change the provision of law qua the item of which assessment was made(21.12.2022)

The assessee filed her return of income for the assessment year 2011-12 returning total income of ₹.2,35,280. During the course of remand proceedings .....

Tags : Income Tax Appellate Tribunal, Chennai



Distinct logo cannot rescue copycat emulating overall trade dress(25.05.2016)

Delhi High Court rejected submissions by Pure Play Sports that the similarity in designs between its shoes and those of the Plaintiff Skechers was suf.....

Tags : skechers, pure play, sports shoes, trade dress, distinct, logo



Insurance contract must be read as a whole and every attempt should be made to harmonise the terms thereof(08.02.2023)

The non-application of the general strict liability principle, in case of an insurance policy, is sought to be questioned, where an expanded meaning h.....

Tags : Policy, Principle, Applicability



Profits of the foreign enterprise are taxable only where the said enterprise carries on its core business through a permanent establishment(22.07.2020)

Present appeal by the Department revisits the question as to the taxability of income attributable to a “permanent establishment” set up in a fixed pl.....

Tags : Project Office, Taxability, Income



Reasons behind any decision are necessary to be assigned by the administrative authorities(27.04.2023)

The present petition has been filed under Article 226 of the Constitution of India, 1950 against the impugned Memorandum dated 10th March, 2023 passed.....

Tags : Principles, Natural justice, Admission



Errors cannot be perpetuated on the name of consistency(17.08.2023)

Aggrieved by the order passed by the learned Commissioner of Income Tax(Appeals), ("CIT(A)") in the case of Mandava Holdings Private Limited ("the ass.....

Tags : Income, Assessment, Disallowance



In case of trivial matter, Court can refuse to draw the presumption of corruption(03.10.2023)

Present appeal is filed by the Appellant/original complainant against the judgment delivered by the Special Judge (under the Prevention of Corruption .....

Tags : Inconsistencies, Evidence, Acquittal



Sufficient medical evidence should be available before the adjudicating authority for applying the principles of Res Ipsa Locutor(17.10.2023)

The present appeal is directed against the order passed by the National Consumer Disputes Redressal Commissionwhereby the complaint filed by the Appel.....

Tags : Principles, Res Ipsa Locutor, Applicability



When language of statute is plain and unambiguous, it should be given effect to irrespective of its consequences(05.12.2023)

The singular point raised by learned counsel for the Petitioners is that, the decision making process adopted by the Respondents is contrary to the pr.....

Tags : Principles, Natural justice, Statutory mandate



Commissioner cannot usurp Department’s plausible view(11.05.2016)

View taken by Assessing Officer, so long as it is a possible view, cannot be interfered by Commissioner under Section 263 of Income Tax Act 1961.
<.....

Tags : Income tax, expenses, further information



Right to correct amount of salary gives rise to continuous cause of action and can be exercised at any point of time during service(22.12.2023)

In instant case, Petitioner has filed the present petition challenging the order passed by the Industrial Court. By that Order, the Industrial Court h.....

Tags : Additional increments, Direction, Delay



Writ Court cannot sit in appeal against orders of Disciplinary Authority and Appellate Authority which are prescribed Statutory Authorities under Rules and Regulations(28.03.2024)

The Petitioner has filed the instant writ petition seeking issuance of issue a writ of Certiorari to quash the order by the appellate body i.e. sub- c.....

Tags : Increment, Withholding of, Legality



Freight charged separately in the invoices is not includable in the assessable value for the payment of excise duty(07.06.2024)

The Appellant is engaged in manufacture of transformer, aluminium, cables etc. Excise duty amounting to Rs.65,15,338 on the freight value of Rs.5,21,2.....

Tags : Freight, Inclusion, Demand



Assessing Officer cannot reopen assessment on erroneous assumptions(15.09.2015)

To reopen a concluded income tax assessment for escaped income, a reason to suspect cannot be a reason to believe, which must be rational and bear a d.....

Tags : Tax, assessment, escaped income, belief



State cannot excuse itself of unemployment allowance under NREGA(21.01.2016)

The economic capacity of the State government cannot be a factor to deny unemployment allowance to job seekers who applied under the national rural em.....

Tags : nrega, unemployment allowance, financial incapacity



Unadjusted business loss of a particular year would be eligible to be carried forward to subsequent assessment years and for set off also(28.02.2024)

The appeal arises out of the order of the Commissioner of Income Tax (Appeals). The only issue to be decided in this appeal is as to whether the learn.....

Tags : Set off, Business income, Eligibility



Assessing Officer can impose penalty for default in making payment of tax, but same shall not exceed amount of tax in arrears(01.07.2017)

In the present case, Income Tax Return of Respondent-Assessee was processed under Section 143(1) of Income Tax Act, 1961, demand was raised and penalt.....

Tags : Arrears, Tax, Interest, Inclusion



Notifications & Circulars

AOs to not issue penalty notices under Sections 271D,E of IT Act(26.04.2016)

The Central Board of Direct Taxes set forth a “Departmental View” to assuage conflicting notions on the limitation for imposition of penalty under Sec.....

Tags : income tax, penalty notice, limitation



RBI increases incentives for ATMs dispensing lower denomination notes(05.05.2016)

The Reserve Bank of India revised ‘Incentives & Penalties’ in the Currency Distribution & Exchange Scheme. By revision, the incentives for installatio.....

Tags : currency distribution, incentive, denomination



MAT no longer applicable to foreign companies(24.09.2015)

Government of India has decided that with effect from 01.04.2001, the provisions of Section 115JB of the Income Tax Act, 1961 will not be applicable t.....

Tags : Mat, 115jb, income tax, foreign company



Income Declaration Scheme 2016 to open 1 June 2016(14.05.2016)

The Income Declaration Scheme 2016 incentivising declaration of black money will commence 1 June 2016.

Monies declared under the scheme wi.....

Tags : black money, income tax, window



ITR-V verification pending? Now use EVC(09.05.2016)

The Central Board of Direct Taxes allowed taxpayers to verify their electronic returns by means of Electronic Verification Code.

As far bac.....

Tags : Income tax, verification, evc, itr-v



TRAI rules out inflation linked rate hike for TV services(09.05.2016)

The Telecom Regulatory Authority of India declined an inflation linked hike for television tariffs. The Authority noted that healthy growth in the ind.....

Tags : Trai, television broadcast, rate, increase, inflation



Clarifications on the Income Declaration Scheme, 2016(14.07.2016)

The Central Board of Direct Taxes released additional clarifications on the Income Declaration Scheme 2016.

In answers to ten additional qu.....

Tags : income declaration scheme, revision, directors, partners



Compulsory manual selection of cases for scrutiny during FY 2016-17(13.07.2016)

The Central Board of Direct Taxes laid down fresh criteria and procedure for manual selection of returns or cases for compulsory scrutiny during the 2.....

Tags : manual selection, income tax, compulsory scrutiny



Government’s startup initiatives inviting much interest(20.07.2016)

The Ministry of Commerce and Industry revealed that 728 applications have been received thus far by the Ministry through the Startup India portal.

Tags : startup, fund of funds, tax incentives, portal



Income Tax (11th Amendment) Rules, 2015(07.08.2015)

The Government made amendments to the Income-tax Rules, 1962 with regard to registration of persons, due diligence and maintenance of information; and.....

Tags : income tax rules, registration, persons



Review of Annual Custody / Issuer Charges(09.12.2015)

The Securities and Exchange Board of India has enhanced custody/issuer charged to be collected by depositories from issuers. Per folio charge has been.....

Tags : SEBI, Custody, issuer, charges, increase



Total Road Length in India Increased at 4.2% CAGR(17.11.2016)

The total road length of the India has increased at a Compound Annual Growth Rate (CAGR) of 4.2% up to 2015 from 1951. As on 31st March 2015, India's .....

Tags : Statistics, Road length, Increase



Revision of North East Industrial and Investment Promotion Policy, 2007 for new industrial units(24.11.2016)

1. Government had approved a package of incentives and concessions to promote industrialization and investment in the North East Region (including Sik.....

Tags : Incentives, Industrialization, Promotion



Draft to determine company’s ‘Place of Effective Management’(23.12.2015)

The Ministry of Finance has released draft guidelines proposing principles to determine the ‘place of effective management’ of a company, for the purp.....

Tags : Income tax, company, effect management, draft, principles



LPG subsidy not available to those with taxable income of over Rs. 10 lakhs(28.12.2015)

The Government has revoked the subsidy on LPG cylinders for consumers (or spouses) that had taxable income of more than Rs. 10 lakhs during the previo.....

Tags : Lpg, subsidy, 2016, taxable income



Filing of Revised Income Tax Returns by the Tax Payers Post De-Monetisation of Currency(14.12.2016)

Under the existing provisions of Section 139(5) of the Income-tax Act, 1961 ('Act'), Revised Return can only be filed if any person, who has filed a r.....

Tags : Income Tax, Returns, Filing



Six institutions incorporated as IITs(25.05.2016)

The Union Cabinet granted retrospective approval to amendment of the Institutes of Technology Act 1961 for the incorporation of six new Indian Institu.....

Tags : indian institution of technology, incorporation, 2016



Paperless tax assessment expanded to Hyderabad and Kolkata(25.05.2016)

Scheme for e-assessment for income tax has been extended to include Hyderabad and Kolkata for Financial Year 2016-2017.

The ‘paperless’ sch.....

Tags : paperless, email, income tax, scrutiny



CBDT endeavours to reduce litigation over bad debt(30.05.2016)

The Central Board of Direct Taxes bolstered Departmental policies to reduce litigation arising from assessees writing off sums as ‘bad debt’.

.....

Tags : income tax, bad debt, irrecoverable, reducing litigation



Income - Tax (Seventh Amendment) Rules, 2017(05.04.2017)

In exercise of the powers conferred by section 139A and section 285BA, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Boa.....

Tags : Rules, Amendment, Income-tax



Clarifications on Income Declaration Scheme, 2016(27.06.2016)

The Central Board of Direct Taxes issued further clarifications to the recently announced Income Tax Declaration Scheme, 2016.

Elaborations.....

Tags : income tax, black money, declaration, clarifications



Inclusion of "Farmer Producer Company (FPC) in the list of Micro Insurance Agent"(26.04.2017)

Reference is invited to Regulation 2 (f) of IRDAI (Micro Insurance) Regulations 2015 (Regulations) which defines a "Micro-insurance Agent". Based on t.....

Tags : FPC, Inclusion, Micro Insurance



Lease rent from letting out buildings/developed space along with other amenities in an Industrial Park/SEZ- to be treated as business income(25.04.2017)

The issue whether income arising from letting out of premises /developed space along with other amenities in an Industrial Park/SEZ is to be charged u.....

Tags : Lease rent, Industrial Park, Business income



Central Board of Direct Taxes (CBDT) invites comments from stakeholders on Draft Income Computation and Disclosure Standards on Real Estate Transactions by 26th May, 2017(11.05.2017)

The Committee constituted by the Finance Minister to suggest the areas in respect of which further Income Computation and Disclosure Standards (ICDS) .....

Tags : Comments, Invitation, Income Computation



New updated Version of Income Tax Return Statistics for Assessment Year 2012-13 released(19.08.2016)

Central Board of Direct Taxes (CBDT) had proactively released data relating to direct tax collections, PAN allocation and distribution of income in th.....

Tags : Statistics, Income Tax Return, updated Version



Atal Pension Yojana (APY) included under Section 7 of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act 2016(12.06.2017)

With an objective of bringing in transparency, efficiency and to enable beneficiaries to get their entitlement directly in a convenient and seamless m.....

Tags : Pension Yojna, Inclusion, Aadhar Act



CBDT has been asked to consider inclusion of Service Charge while assessing tax: Shri Ram Vilas Paswan(13.09.2017)

Shri Ram Vilas Paswan, Union Minister for Consumer Affairs, Food & Public Distribution told that in order to check the levying of Service Charge compu.....

Tags : Service Charge, Inclusion, Tax, Assessment



Income-tax (3rd Amendment) Rules, 2016(01.03.2016)

The Central Board of Direct Taxes notified Income-tax (3rd Amendment) Rules, 2016 amending the Income-tax Rules, 1962. The Rules substitute provisions.....

Tags : income tax, appeal, form 35



Labour migration in India increasing at an accelerating rate, reveals new study: Economic Survey 2016-17(31.01.2017)

New estimates of labour migration in India have revealed that inter-state labor mobility is significantly higher than previous estimates. This was sta.....

Tags : Labour migration, Increase, Study



Fifteenth Finance Commission invites suggestions/views from general public, institutions for higher inclusive growth(22.02.2018)

The Fifteenth Finance Commission has invited suggestions/views on issues related to the terms of reference from the members of the general public, ins.....

Tags : General public, institutions, Suggestion, Inclusive growth



IT dues payable in advance at authorised bank branches(16.05.2016)

Advance income tax can be paid at authorised banks instead of just with the Reserve Bank of India. Of the 29 banks authorised to acceptance tax remitt.....

Tags : Income tax, advance, authorised banks



CBDT notifies Income Tax Return Forms for Assessment Year 2018-2019(05.04.2018)

The Central Board of Direct Taxes (CBDT) has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2018-19. For Assessment Year 2017-18.....

Tags : CBDT, Forms, Income tax



Review of the capacity planning framework of stock exchanges and clearing corporations(08.10.2015)

Due to an increase in trading volume resulting from a growth of the stock market, the Securities and Exchange Board of India has reiterated the need f.....

Tags : Due to an increase in trading volume resulting from a growth of the stock market, the Securities and Exchange Board of India has reiterated the need for stock exchanges and clearing corporations to maintain sufficient capacity to be able to handle the increased demand. Some of new directions with regards to capacity are: installed capacity being at least one and a half times of projected peak load; and all software and hardware needs to be adequately sized to meet the requirements.



Inclusion of Tribes in ST List(23.07.2018)

The Government on 15.06.1999 (further amended on 25.06.2002) has laid down the modalities for deciding the claims for inclusion in, exclusion from and.....

Tags : Tribes, Inclusion, ST list



Government extends due date for filing of Income Tax Returns from 30th September, 2016 to 17th October, 2016(12.09.2016)

The due date for filing of Income tax returns by tax payers whose accounts are required to be audited under the Income Tax Act is the 30th September o.....

Tags : Income Tax Returns, Filing, Extension of date



Government invites comments of Stakeholders and General Public on Proposed Amendments to Income-Tax Rules, 1962 by 4th September, 2018(20.08.2018)

Income-tax Rules, 1962 (I.T. Rules) prescribe Form No. 13 for filing an application for seeking a certificate under Section 197 and/or under Section 2.....

Tags : Comments, Income-Tax Rules, Amendment



Draft Notification proposing Amendment of Rules 2C, 2CA and 11AA and for Nos. 10G, 56 and 56G of the Income-Tax Rules, 1962 placed in public domain for inputs from stakeholders and general public(29.10.2018)

Currently, for grant of approval under sub-clauses (iv) and (v) of clause (23C) of Section 10 of the Income-tax Act, 1961 (the Act), for exemption of .....

Tags : Draft Notification, Amendment, Income-Tax Rules



Income-tax (15th Amendment) Rules, 2015(12.10.2015)

Central Board of Direct Taxes amended the Income-tax Rules, 1962 with the Income-tax (15th Amendment) Rules, 2015. These modify Rule 11DD, substituti.....

Tags : Income tax, rules, amendment, fifteen, 2015



Revised Guidelines for the Financial Inclusion Fund(15.10.2015)

In light of the merging of the Financial Inclusion Fund and the Financial Inclusion Technology Fund to form the FIF as it exists today, the Reserve Ba.....

Tags : Bank, financial inclusion guidelines, fund



Use of email based communication for paperless Assessment Proceedings(19.10.2015)

Central Board of Direct Taxation has begun a pilot program of using email to correspond with taxpayers. The project is expected to be run in non-corpo.....

Tags : Income tax, pilot, email, correspondence, 2015



Amendment in Rule 114H of Income-tax Rules, 1962(22.06.2016)

Rule 114H of the Income Tax Rules 1962 has been amended to provide sufficient time to reporting financial institutions for completing due diligence in.....

Tags : Income tax rules, reportable accounts, deadline



Central Government notifies 'Mysore Palace Board', Karnataka, a board constituted by the Government of Karnataka, in respect of the specified income arising to that Board(09.04.2019)

S.O.1537(E).--In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby.....

Tags : Board, Constitution, Income from Palace



Cyber Security Incident Reporting by Non - Banking Financial Companies(08.05.2019)

In terms of para 3.6 of Master Direction DNBS.PPD.No.04/66.15.001/2016-17 dated June 08, 2017 on IT Framework for Non-Banking Financial Companies (NBF.....

Tags : Cyber Security, Incidents, Reporting



E-filing of Income Tax Returns registers an increase of 19%(06.05.2019)

There have been some incorrect reports in media pertaining to reduction in numbers of Income Tax Returns(ITR) e-filed during Financial Year(F.Y.) 2018.....

Tags : E-filing, Income Tax, Returns



CBDT issues Draft Notification for Amendment of Form No 10B of the Income-tax Rules, 1962(21.05.2019)

Section 12A of the Income-tax Act, 1961 (the Act) provides for conditions for applicability of Sections 11 and 12 of the Act. One such condition under.....

Tags : Notification, Amendment, Form No 10B, Income-tax Rules



Mr. Agustin Carstens, Bank for International Settlements delivered 17th C.D. Deshmukh Memorial Lecture titled "Central Banking and Innovation: Partners in the Quest for Financial Inclusion"(25.04.2019)

The Reserve Bank of India hosted the Seventeenth C.D. Deshmukh Memorial Lecture on April 25, 2019 in Mumbai. The lecture was delivered by Mr. Agust¡n .....

Tags : Lecture, Innovation, Financial Inclusion



Income Tax Rules on Fund Manager regime(15.03.2016)

The Central Board of Direct Taxes released the Income-Tax (5th Amendment) Rules, 2016 providing guidelines for the application of Section 9A of the In.....

Tags : Fund manager, offshore, income tax



FASTag rollout picking up pace, daily usage increases(31.12.2019)

With the implementation of Electronic Toll Collection through FASTag from 15th December this year, sale of FASTags has picked up substantially. Over 1.....

Tags : FASTag, Rollout, Usage, Increase



Inclusion of GIA, Israel and GIA, Japan as authorized laboratories for certification/ grading of diamonds of 0.25 carat and above-reg(14.05.2018)

In exercise of powers conferred under Paragraph 1.03 of the Foreign Trade Policy 2015-2020, as amended from time to time, the Director General of Fore.....

Tags : Inclusion, Authorized laboratories, Grading, Diamonds



Inclusion of Mauritius in the FATF list of "jurisdictions under increased monitoring"(25.02.2020)

The Financial Action Task Force on February 21, 2020, has placed Mauritius in the list of "jurisdictions under increased monitoring", commonly referre.....

Tags : Inclusion, Mauritius, FATF list



Proceeds from unlisted share sale to default to ‘Capital Gain’ head(05.05.2016)

The Central Board of Direct Taxes directed its offices that income from transfer of unlisted shares irrespective of period of holding would be taxable.....

Tags : Unlisted shares, sale, capital gain, income tax



Streamlining export data to include District level details in Shipping Bills(05.02.2020)

1. Reference is invited to Notification No. 33/2019-Cus (NT) dated 25.04.2019 vide which the Shipping Bill (Electronic Integrated Declaration and Pape.....

Tags : Export data, Inclusion, District level details



CBDT further extends date for filing Income Tax Returns and Audit Reports(08.10.2018)

The due date for filing of Income Tax Returns and Audit Reports for Assessment Year 2018-2019 is 30th September, 2018 for certain categories of taxpay.....

Tags : Income Tax Returns, Date, Extension



System-based asset classification - UCBs(12.08.2020)

1. Please refer to the Master Circular DCBR.BPD. (PCB) MC No.12/09.14.000/2015-16 dated July 1, 2015 containing consolidated instructions on income re.....

Tags : Asset classification, UCBs, Income Recognition



Review of inclusion of Historical Scenarios in Stress Testing in Commodity Derivatives Segment(21.12.2020)

1. SEBI vide Circular SEBI/HO/CDMRD/DRMP/CIR/P/2018/111 dated July 11, 2018 and SEBI/HO/CDMRD/DRMP/CIR/P/2020/128 dated July 21, 2020, inter alia, had.....

Tags : Inclusion, Historical Scenarios, Stress Testing in



Companies (Incorporation) Second Amendment Rules, 2021(01.02.2021)

In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby .....

Tags : Companies, Incorporation



Cabinet approves Production Linked Incentive Scheme 'National Programme on High Efficiency Solar PV Modules'(07.04.2021)

The Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the Ministry of New & Renewable Energy's proposal for implementation of the Pr.....

Tags : Approval, Incentive scheme, Solar PV Modules



Coir Industry set to cross a new high in fortunes even amidst Covid-19(09.02.2021)

Despite COVID - 19, the export of Coir and Coir products from India during the first half of the year 2020-21 registered Rs. 1662.43 crore with an inc.....

Tags : Coir Industry, Growth, Increase



Cabinet approves Production Linked Incentive scheme "National Programme on Advanced Chemistry Cell Battery Storage"(12.05.2021)

The Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the proposal of Department of Heavy Industry for implementation of the Product.....

Tags : Incentive scheme, Approval



Increase in duration of validity of MEIS/SEIS scrips and relaxation in last dates for filling applications under MEIS/SEIS(01.06.2020)

1. In exercise of powers conferred under paragraph 1.03 of the Foreign Trade Policy (2015-2020), the Director General of Foreign Trade hereby makes th.....

Tags : Increase, Duration, MEIS/SEIS scrips



Format, procedure and guidelines for submission of Statement of Financial Transactions for Dividend income(20.04.2021)

1. Section 285BA of the Income Tax Act, 1961 and Rule 114E requires specified reporting persons to furnish statement of financial transaction (SFT). <.....

Tags : Procedure, Guidelines, Dividend income



Asset classification and income recognition following the expiry of Covid-19 regulatory package(07.04.2021)

The Hon'ble Supreme Court of India has pronounced its judgement in the matter of Small Scale Industrial Manufacturers Association vs UOI & Ors. and ot.....

Tags : Asset classification, Income recognition



Inclusion of Inland Container Depots located at Kalinganagar and Tumb Village (Taluka Umbergaon, District Valsad) as a Port of Registration under Para 4.37 of Hand Book of Procedures (2015-2020)(20.10.2016)

In exercise of powers conferred under Paragraph 1.03 of the Foreign Trade Policy 2015-2020, as amended from time to time, the Director General of Fore.....

Tags : Depots, Inclusion, Ports



Increase in monthly salary threshold to Rs. 24,000 as wages under Section 1(6) of Payment of Wages Act, 1936(29.08.2017)

S.O.2806(E).--In exercise of the powers conferred by sub-section (6) of section 1 of the Payment of Wages Act, 1936 ( 4 of 1936), the Central Governme.....

Tags : Increase, Monthly salary, Threshold



Central Government hereby notifies 'Haryana Labour Welfare Board' a Board constituted by the State Government, in respect of the specified income arising to that Board(14.07.2021)

In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for .....

Tags : Notification, Board, Income



Income Tax Amendment (19th Amendment), Rules, 2021(07.07.2021)

In exercise of the powers conferred by proviso to section 50 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Dire.....

Tags : Income Tax, Amendment, Rules



Procedure for exercise of option under sub-section (1) of Section 245M and intimation thereof by furnishing and upload of Form No. 34BB under sub-Rule (1) of Rule 44DA of Income-Tax Rules, 1962(24.05.2021)

In exercise of the powers conferred by the Department of Revenue, Ministry of Finance, under sub-rule (3) and sub-rule (4) of Rule 44DA of the Income-.....

Tags : Form, Income Tax



Central Government hereby notifies 'Himachal Pradesh Computerization of Police Society'a body established by the State Government, in respect of the specified income arising to that body(14.07.2021)

In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for .....

Tags : Notification, Society, Income



CBDT grants further relaxation in electronic filing of Income Tax forms 15CA/15CB(20.07.2021)

As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along wit.....

Tags : Relaxation, Electronic filing, Income Tax forms



CBDT amends Income-tax Rules, 1962(17.08.2015)

The Central Board of Direct Taxes made amendments to the Income-tax Rules, 1962, inserting Rule 126: 'Computation of period of stay in India in certai.....

Tags : Income tax, rule, sea voyage



To Incentivise Domestic Value Addition And Make In India, Customs Duty Increased On Mobile Phones And TV Parts, Measure Will Help Promote Creation Of More Jobs, Customs Duty On Raw Cashew Halved(01.02.2018)

In the first General Budget 2018-19 after the roll-out of the Goods and Services Tax (GST), the Union Minister for Finance and Corporate Affairs, Shri.....

Tags : Duty, Increase, Mobile Phones, Tv Parts



Guiding principles for bringing uniformity in benchmarks of Mutual Fund Schemes(27.10.2021)

1. In order to standardize and bring uniformity in the Benchmarks of Mutual Fund Schemes and taking into account the recommendations of Mutual Fund Ad.....

Tags : Principles, Uniformity, Mutual Fund Schemes



Income Tax Simplification Committee reveals recommendations(25.01.2016)

The Income Tax Simplification Committee, headed by former Justice R.V. Easwar, has released its first.....

Tags : Income tax, simplification, recommendations



Companies (Incorporation) Amendment Rules, 2016(22.01.2016)

The Ministry of Corporate Affairs has notified Companies (Incorporation) Am.....

Tags : Company, incorporation, reservation of name



Income-Tax (29th Amendment) Rules, 2021(13.09.2021)

In exercise of the powers conferred by second proviso to clause (i) sub-section (1) of section 142 read with section 295 of the Income-tax Act, 1961 (.....

Tags : Income-tax, Prescribed



Government to support startups through better incubation centres in smaller towns(03.03.2022)

The Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal today called for making IIT-Madr.....

Tags : Startups, Incubation, Smaller towns



Clarification of 'initial assessment year' in Section 80IA (5) of the IT Act(15.02.2016)

The Central Board of Direct Taxes issued a clarification to the ‘initial assessment year’ for the purposes of Section 80IA(5) of the Income Tax Act, 1.....

Tags : Income tax, initial assessment year, deduction claim



Pay IT dues in advance at RBI or authorised bank branches(15.02.2016)

The Reserve Bank of India has authorized twenty nine agency banks to accept payments of income tax. The move hopes to reduce the heavy rush for remitt.....

Tags : Income tax, payment, agency banks, march



Steps taken for increasing exports through e-Commerce(03.08.2022)

Government has implemented several legislative and policy measures for e-commerce keeping in mind the retailers. Some of these measures are FDI Policy.....

Tags : Exports, Increase, E-Commerce



Exemption to Interest Income on Specified Off-shore Rupee Denominated Bonds(17.09.2018)

Interest payable by an Indian company or a business trust to a non-resident, including a foreign company, in respect of rupee denominated bond issued .....

Tags : Interest Income, Denominated Bonds Exemption



Central Government notifies 'Pune Metropolitan Region Development Authority', an Authority for receiving specified income arising to that Authority(10.05.2023)

In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for .....

Tags : Notification, Authority, Income



Reserve Bank of India introduces the Financial Inclusion Index(17.08.2021)

As announced in the Statement on Developmental and Regulatory Policies in the first Bi-monthly Monetary Policy Statement for 2021-2022 dated April 07,.....

Tags : Financial Inclusion, Index, Introduction



Increase in limit for tax exemption on leave encashment for non-government salaried employees notified(25.05.2023)

The tax exemption on leave encashment of non-government salaried employees (in respect of the period of earned leave at his credit at the time of his .....

Tags : Increased limit, Tax, Exemption



No deduction of income tax shall be made under Section 194 of the Income-tax Act from any income in the nature of dividend paid by any unit as specified(20.07.2023)

In exercise of the powers conferred by sub-section (1F) of section 197A read with clause (34B) of section 10 of the Income-tax Act,1961 (43 of 1961) (.....

Tags : Deduction, Income, Dividend



Government measures increase FDI inflows in the country(05.04.2021)

Japan leads the list of Investor countries with 29.09% of the total FDI Equity inflows during January, 2021.

The Measures taken by the Govern.....

Tags : Measures, Increase, FDI inflows



IREDA incorporates "IREDA Global Green Energy Finance IFSC Limited" in GIFT City, Gujarat(09.05.2024)

Indian Renewable Energy Development Agency Ltd. (IREDA) has incorporated a wholly owned subsidiary in the International Financial Services Centre (IFS.....

Tags : Incorporation, IREDA



Appointment date for the purpose of some provisos and sub-sections of Income-Tax Act, 1961(01.09.2021)

In exercise of the powers conferred by the second proviso to sub-section (1) of section 245-O, sub-section (2) of section 245P, sub-section (4) of sec.....

Tags : Appointment date, Release, Income-Tax



Guidelines under Clause (10D) of Section 10 of the Income-tax Act, 1961(16.08.2023)

1. Clause (10D) of section 10 of the Income-tax Act, 1961 (the Act) provides for income-tax exemption on any sum received under a life insurance polic.....

Tags : Income Tax Act, 1961, Guidelines



More Forms for e-ITR, more security(04.04.2016)

The Central Board of Direct Taxes announced the electronic filling and filing of Forms 1 and 4S for income tax returns. Furthering the shift to electr.....

Tags : Income tax, electronic filing, 2016



3.59 crore Income Tax Returns filed on the new e-filing portal of the Income Tax Department(16.12.2021)

Senior officials of Ministry of Finance headed by Secretary, Revenue had a meeting with the Infosys team headed by Shri Salil Parekh, MD & CEO, Infosy.....

Tags : Income Tax Returns, E-filing, Portal



Promotion of MSMES(09.12.2021)

As informed by Department for Promotion of Industry & Internal Trade (DPIIT), as part of the 'Start-up India' initiatives the Government has provision.....

Tags : Promotion, MSMES, Incentives



'Doubling Farmers' Income by 2022' – Measures(29.09.2016)

Government of India in the Union Budget 2016-17 had announced its resolve to double the income of farmers by 2022. Several steps have been taken towar.....

Tags : Income, Doubling, Farmers, Measures



Inclusion of "India Post Payments Bank Limited" in the Second Schedule of the Reserve Bank of India Act, 1934(03.07.2019)

We advise that the "India Post Payments Bank Limited" has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notificatio.....

Tags : Post Payments, Bank, Inclusion



Amendment in import policy of Iron and Steel and incorporation of policy condition in Chapter 72, 73 and 86 of ITC (HS), 2017, Schedule-I (Import Policy)(13.11.2019)

In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amend.....

Tags : Amendment, Import policy, Incorporation, Condition



Interest income to be included in tax return(01.01.1900)

The Central Board of Direct Taxes notified persons earning interest income that interest credited or received on deposits is taxable unless exempt und.....

Tags : Income tax return, interest income, inclusion



Wealth tax return not required 2016-2017 onwards(01.04.2016)

With the Central Government’s recent decision to abolish the wealth tax, the (16.02.2017)

We advise that the "Capital Small Finance Bank Limited" has been included in the Second Schedule to the Reserve Bank of India Act, 1934 vide Notificat.....

Tags : Inclusion, Bank, Second Schedule, Act



Guidelines under sub-section (4) of section 194-O, sub-section (3) of section 194Q and sub-section (1-I) of section 206C of the Income Tax Act, 1961(25.11.2021)

1. Finance Act, 2020 inserted a new section 194-O in the Income-tax Act 1961 (hereinafter referred to as "the Act") which mandates that with effect fr.....

Tags : Guidelines, Provisions, Income Tax



Guidelines under clause (10D) section 10 of the Income-Tax Act, 1961(19.01.2022)

1. Clause (10D) of section 10 of the Income-tax Act, 1961 (the Act) provides for income-tax exemption on the sum received under a life insurance polic.....

Tags : Guidelines, Clause, Income-Tax Act



Inclusion of additional export items in Appendix 4R with effect from 15.12.2022(07.12.2022)

1. In exercise of the powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with Para 1.02 of the Foreign Tra.....

Tags : Inclusion, Additional export, Notification



Explanation regarding circular under section 119 of the Income-tax Act, 1961(06.03.2024)

1. Income of any fund or institution or trust or any university or other educational institution or any hospital or other medical institution referred.....

Tags : Income, Exemption, Conditions



Clarification regarding prudential norms on income recognition, asset classification and provisioning pertaining to advances(15.02.2022)

1. Please refer to the clarifications issued in respect of Prudential norms on Income Recognition, Asset Classification and Provisioning vide circular.....

Tags : Prudential norms, Income recognition, Clarifications



Pay fixation matters relating to BSNL absorbed employees-Issue of increment on regular promotion to a scale(20.02.2023)

1. This refers to DoT orders of even number dated 05.07.2017 and 17.05.2018 on the above mentioned subject. (Copies enclosed)

2. The issue r.....

Tags : Pay fixation, Increment, Regular promotion



Scope of Principal-agent relationship in the context of Schedule I of the CGST Act(04.09.2018)

In terms of Schedule I of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the "CGST Act"), the supply of goods by an agent on.....

Tags : Principal-agent, Relationship, Scope



Central Government notifies 'SEEPZ Special Economic Zone Authority' as an Authority constituted under the Special Economic Zone Act, 2005(20.04.2022)

In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for .....

Tags : Special Economic Zone, Income Tax Act



Budget 2024-25 Introduces Enhanced Deductions and Revised Tax Slabs(23.07.2024)

What is Income Tax?

Income tax is a government levy on the income earned by individuals and businesses during a financial year. "Income" enc.....

Tags : Income Tax Return, Commercial Properties, Securities Transaction Tax



Income-tax (Twelfth Amendment) Rules, 2022(05.05.2022)

In exercise of the powers conferred by the section 245Q read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Ta.....

Tags : Income-tax, Twelfth Amendment, Rules, 2022



Maintenance of Cash Reserve Ratio (CRR)(04.05.2022)

1. Please refer to our circular DOR.No.Ret.BC.35/12.01.001/2020-21 dated February 05, 2021 and relative notification on the captioned subject.

Tags : Maintenance, Increase, CRR



News

Income Tax Department Issues Guidelines for E-Communication to Tax Payers(05.02.2016)

Government, in order to ease communication with the Income-Tax Department, has allowed tax payers to reply to notices using their registered email add.....

Tags : Income Tax Department , Tax Payers



NGT Asks Aviation Ministry, DGCA to Provide Incentives to Pilots Who Cause Less Noise Pollution(18.01.2017)

National Green Tribunal has directed Ministry of Civil Aviation and aviation regulator DGCA to mull over possibility of providing incentives to pilots.....

Tags : National Green Tribunal, Ministry of Civil Aviation, Incentives



Government: Bank Deposits Before April 01, 2016 Can be Declared Under PMGKY(19.01.2017)

Govt has clarified that deposits in bank accounts made before 1 April 2016 can also be declared under Pradhan Mantri Garib Kalyan Yojana (PMGKY), the .....

Tags : Bank Deposits, Pradhan Mantri Garib Kalyan Yojana, income disclosure scheme



CBDT: No TDS or Advance Tax Credit For Disclosure Made Under PMGKY(19.01.2017)

Central Board of Direct Taxes (CBDT) has clarified that no credit will be allowed against advance tax paid or Tax Deducted at Source (TDS) or Tax Coll.....

Tags : Central Board of Direct Taxes, Pradhan Mantri Garib Kalyan Yojana, income disclosure scheme, TDS, TCS



Govt: PMGKY Not Applicable on Jewellery, Stocks, Immovable Properties, Foreign Accounts(19.01.2017)

Government has clarified that only unaccounted domestic cash holding can be declared through Pradhan Mantri Garib Kalyan Yojna (PMGKY) and not jewelle.....

Tags : Pradhan Mantri Garib Kalyan Yojana, income disclosure scheme



Supreme Court Seeks Govt Reply Over Vacancies in ITAT(24.01.2017)

Supreme Court has sought Government's response on plea seeking appointment of President and Vice Presidents in different Benches of Income Tax Appella.....

Tags : Supreme Court, Income Tax Appellate Tribunals, Vacancy ,



Apple Inc Gets India Patent for Tunable Antenna(08.10.2015)

Apple Inc has got Indian patent for its invention regarding a compact tunable antenna used in mobile phones and other hand-held devices. The invention.....

Tags : Apple Inc ,Patent for Tunable Antenna



Bombay High Court Quashes Income Tax Appellate Tribunal Ruling in Rs 8500 crore Transfer Pricing Case(09.10.2015)

Bombay High Court has quashed and set aside an order of Income Tax Appellate Tribunal, which had ruled that I-T department had powers to raise tax dem.....

Tags : Bombay High Court ,Income Tax Appellate Tribunal,Vodafone India



Delhi High Court: 'Financial Capacity' Relevant Factor for Application for Waiver of Interest(23.05.2017)

Delhi High Court, while confirming rejection of an application seeking waiver of interest held that financial capacity of assessee is a relevant facto.....

Tags : Delhi High Court, Income Tax Act



Delhi HC: Document Seized From Broker Cannot be Used as Evidence to Initiate Re-assessment(24.05.2017)

Delhi High Court has held that materials seized from a real estate broker relating to assessee cannot be used as an evidence to initiate re-assessment.....

Tags : Delhi High Court, Re-assessment, Income Tax Act



ITAT, Kolkata: Re-Assessment Without Any ‘Fresh Tangible Materials’ is Bad in Law(24.05.2017)

Kolkata bench of Income Tax Appellate Tribunal has ruled that re-assessment solely based on original assessment records and without any fresh tangible.....

Tags : Kolkata, Income Tax Appellate Tribunal, Re-Assessment



ITAT Mumbai Says 'Sponsoring Foreign Trips of Doctors for Business Promotion is Expenditure'(29.05.2017)

Mumbai ITAT has held that sponsoring foreign trips of doctors for business promotion is allowable as expenditure under provisions of Income Tax Act.

Tags : Mumbai ITAT, foreign trips, Income Tax Act



ITAT, Mumbai: No Income Tax on Gift made by HUF to its Member(29.05.2017)

ITAT, Mumbai has held that Gift given by an HUF to its member is not taxable in hands of member under Income Tax Act since “HUF” can be treated as “re.....

Tags : ITAT, Mumbai, Gift, Income Tax



Bombay High Court: Eye Treatment Can’t be Considered Professional Expenditure(30.10.2015)

Bombay High Court has said that expenses incurred for getting eyes treated cannot be claimed as a professional deduction under the Income Tax (IT) law.....

Tags : Bombay High Court, Income Tax (IT) law



NGT Serves Show Cause Notices to CS and Principal Secretaries of PHE(09.11.2015)

NGT has issued show cause notices to Chief Secretary and Principal Secretaries of Environment and Public Health Engineering (PHE) departments of West .....

Tags : NGT , Chief Secretary and Principal Secretaries of Environment and Public Health Engineering (PHE) departments of West Bengal



CIC: Duly Consider Public Interest While Deciding RTI on ITR(16.08.2016)

Central Information Commission (CIC) has directed Income Tax department to "duly consider the larger public interest" while responding to an RTI requ.....

Tags : Central Information Commission , Income Tax department



Mumbai ITAT Rules, Property Co-Ownership doesn’t Mean Joint I-T Liability(16.08.2016)

Mumbai Income-Tax Appellate Tribunal (ITAT) has ruled that if a spouse has not invested in a property and is merely a co-holder, then on sale of such .....

Tags : Mumbai Income-Tax Appellate Tribunal, Joint I-T Liability



Allahabad HC Says 'No' to Benefit u/s 80G of IT Act on Mere Fulfillment of Conditions u/s 10(23)(c)(06.06.2017)

Allahabad High Court has held that benefit of Section 80G of Income Tax Act cannot be granted to assessee merely on ground that it satisfies all condi.....

Tags : Allahabad High Court, Income Tax Act



ITAT Kolkata: Shareholding by Subsidiary Co. Irrelevant While Considering ‘Deemed Dividend’ Liability(09.06.2017)

ITAT Kolkata has held that shareholding by Subsidiary Company is irrelevant while considering ‘deemed dividend’ liability of Holding Company under sec.....

Tags : ITAT Kolkata, Income Tax Act



Delhi HC Quashes Life Term for In-laws in 1991 Murder Case(05.12.2016)

Delhi High Court has quashed a Trial Court order sentencing a couple and their daughter to life for allegedly setting ablaze their daughter-in-law in .....

Tags : Delhi High Court , prolonged incarceration, Life Term



ITAT Bangalore: No Penalty If Assessee Admitted Income During Search and Paid Tax(07.11.2017)

Income Tax Appellate Tribunal (ITAT), Bangalore held that penalty under Section 271AAA of the Income Tax Act should not be levied if the assessee admi.....

Tags : Income Tax Appellate Tribunal, Section 271AAA of the Income Tax Act



Delhi HC: Assessment Can’t be Re-Opened Merely by Re-Appreciating the Existing Circumstances(08.11.2017)

Delhi High Court while quashing demand against Airtel has observed that re-assessment under Section 147/148 of the Income Tax Act, 1961 cannot be made.....

Tags : Delhi High Court, Income Tax Act, 1961, Airtel



Allahabad High Court Rules that Non-Speculative Business Loss Can be Set off Against Business Income(09.11.2017)

Allahabad HC has ruled that non-speculative business loss can be set off against business income of the assessee under the provisions of the Income Ta.....

Tags : Allahabad HC, Income Tax Act, 1961



Madras High Court: Aadhaar Mandatory for Filing IT Returns(09.11.2017)

Madras HC while rejecting the plea for exemption from quoting Aadhaar number while filing income tax returns has held that the provisions of Section 1.....

Tags : Madras HC, Income Tax Act, aadhaar number, Income Tax Returns



Delhi HC Strikes Down Certain Parts of ICDS Provisions and CBDT Notifications(09.11.2017)

Delhi High Court has struck down Parts II, III, VI, VII and VIII of the Income Computation and Disclosure Standards (ICDS) and certain connected Notif.....

Tags : Delhi High Court, Income Computation and Disclosure Standards, Central Board of Direct Taxes



Madras High Court Ruling on Incentive Increments of Schoolteachers(17.12.2015)

Madras High Court has held that cap of two sets of incentive increments fixed by the State government for schoolteachers who acquire additional educat.....

Tags : Madras High Court, schoolteachers, Incentive Increments



CBDT Notifies New Income Tax Department Authority to Deal with Black Money Window(18.12.2015)

Central Board of Direct Taxation (CBDT) has notified new Income Tax department authority which will now be empowered to receive due taxes and penalty .....

Tags : Central Board of Direct Taxation, Income Tax department authority, Black Money Window



Glenmark Settles Patent Litigation over Milnacipran Hydrochloride Tablets(22.12.2015)

Glenmark Pharmaceuticals Inc., USA have entered into a settlement agreement with Forest Laboratories, LLC, Forest Laboratories Holdings, and Royalty P.....

Tags : Glenmark Pharmaceuticals Inc, Forest Laboratories, LLC, Forest Laboratories Holdings, , Royalty Pharma Collection Trust



Supreme Court Dismisses IT Department’s Appeal Against RCom(23.11.2016)

Supreme Court has dismissed Income Tax (IT) Department’s appeal seeking to tax proceeds of $1.5-billion Foreign Currency Convertible Bonds (FCCBs) iss.....

Tags : Supreme Court, Income Tax, Foreign Currency Convertible Bonds, Reliance Communications



Govt Extends Deadline for Income Tax Audit & Return Filing to Nov 7(01.11.2017)

Central Government has declared that due date for tax audit and return filing under the provisions of Income Tax Act is extended to November 7th. Earl.....

Tags : Government, Income Tax Audit



ITAT, Bangalore: Addition Cannot be Made If Gift is Invalid(06.11.2017)

Income Tax Appellate Tribunal, Bangalore has ruled that if the gift is invalid then no addition can be done in respect of the same under the provision.....

Tags : Income Tax Appellate Tribunal, Bangalore



Pfizer Books Patent for Cholesterol Lowering Formulation(19.02.2016)

Indian Patent Office has granted Pfizer Inc patent for drug that addresses issues related to cholesterol and related disorders, including cardiovascu.....

Tags : Indian Patent Office, Pfizer Inc



I-T Clarification on US Tax Law Enforcement(22.02.2016)

Income Tax Department has clarified that all upcoming reporting in May 2016 for purpose of adhering to the US Foreign Account Tax Compliance Act (FATC.....

Tags : Income Tax Department, US Foreign Account Tax Compliance Act



Supreme Court Refuses To Entertain Plea Against Disclosure of Income Sources by Poll Candidates(30.01.2017)

Supreme Court has refused to hear petition filed by Lucknow-based NGO Lok Prahari seeking disclosure of sources of income by candidates for Parliament.....

Tags : Supreme Court, Disclosure of Income, Elections



Govt: Certificate of Incorporation Shall Mention Company’s PAN Number(31.01.2017)

Central Government has notified Companies (Incorporation) Amendment Rules, 2017 which came into force on 30.01.2017 that mandates to mention Company’s.....

Tags : Central Government, Certificate of Incorporation, PAN Number



Interest Income from Capital Gains Bonds is Taxable as ‘Other Income’: ITAT Mumbai(07.02.2018)

Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that interest income earned from capital gains bonds would be taxable under the head oth.....

Tags : Income Tax Appellate Tribunal



Supreme Court Denies Relief to Suspended Senior IT Official in DA Case(15.02.2018)

Supreme Court has refused to interfere with the time frame fixed by the Uttarakhand High Court for disposal of a disproportionate asset case against a.....

Tags : Supreme Court, Income Tax



Deduction U/S 80-IB is Permissible Even If Construction is Not Acc. to Approved Plan: Bombay HC(15.02.2018)

Bombay High Court has held that the deduction under section 80-IB is available to the assessee-Builder, even if the construction is not according to t.....

Tags : Bombay High Court, Builder, Income Tax



Microsoft, Google Settels Patent War(01.10.2015)

Microsoft Corp and Google Inc have agreed to settle all 18 cases under patent infringement litigation against each other in United States and Germany.

Tags : Microsoft Corp , Google Inc ,Patent



SEBI Nods for Infibeam to Raise Rs 450 Crore via IPO(06.10.2015)

Infibeam Incorporation has become first ecommerce company in India to be listed with Securities and Exchange Board of India (SEBI) giving its permissi.....

Tags : Infibeam Incorporation,Sebi



Income Tax Department Launches 'E-Nivaran' to Fast Track Taxpayer Grievances(18.05.2016)

Income Tax Department has launched a special electronic grievance redressal system called 'e-nivaran' in order to fast track taxpayer grievances and e.....

Tags : Income Tax Department, e-nivaran



Supreme Court: Companies Cannot Claim 'Premium' Received on Shares as 'Deduction'(29.03.2017)

Supreme Court has held that premium collected by companies on its subscribed share capital does not come within the ambit of “capital employed in busi.....

Tags : Supreme Court,Income Tax Act, Company



Delhi High Court Upholds Arbitrator’s Award Directing Transfer of Domain Name ‘Googlee’ to Google Inc(05.04.2017)

Delhi HC has upheld arbitrator’s award directing a man to transfer his registered domain name ‘Googlee’ to Google Inc. on the grounds that the name of.....

Tags : Delhi high Court, Google Ince., Goglee



Delhi High Court: Allow Lawyers to File I-T Return Sans Aadhaar(10.04.2018)

Delhi High Court has ordered the Income Tax Department to allow lawyers to file tax returns without their details of Aadhaar card.

Tags : Delhi High Court, Income Tax



Govt. Amends Income Tax Rules, Inserts New Column for Transgenders in PAN Application Form(10.04.2018)

Central Board of Direct Taxes (CBDT) has introduced a new column for Transgenders in PAN Application Form i.e., Form 49A and Form 49AA by amending the.....

Tags : Income Tax, PAN



Income Declaration & Tax Dispute Resolution Schemes to Come into Force from Tomorrow(31.05.2016)

Central Board of Direct Taxes (CBDT) has said that the Income Declaration Scheme, 2016 and the Direct and Indirect Tax Dispute Resolution Schemes 2016.....

Tags : Central Board of Direct Taxes, Income Declaration Scheme, 2016, Tax Dispute Resolution Schemes



Karnataka HC Directs State Transport Dept. Not to Seize Ola, Uber Cabs(02.06.2016)

Karnataka High Court has directed the transport department not to seize Ola and Uber Inc cabs for allegedly plying without licence, and also restraine.....

Tags : Karnataka High Court, Ola, Uber Inc



Four New Forms Under Domestic Black Money Window Notified by Income Tax Department(03.06.2016)

Income Tax department has notified four new forms for those who wish to declare their untaxed funds and properties under the one-time domestic black m.....

Tags : Income Tax Department, Form



ITAT Clarifies on Rent Deposits(07.06.2016)

Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has observed that the notional interest on security deposit paid by an employer to the landlord c.....

Tags : Income Tax Appellate Tribunal, ITAT, security deposit



Delhi HC Stays Restoration of Monsanto Inc and Nuziveedu Seeds Ltd Contract(11.04.2017)

Delhi High Court has stayed restoration of contract between Monsanto Inc and Nuziveedu Seeds Ltd, as per Single Judge’s order on former’s patented Bt .....

Tags : Delhi High Court, Monsanto Inc, Nuziveedu Seeds Ltd



Supreme Court Notices MCI, State Over Medical PG Incentive Marks(17.04.2017)

Supreme Court (SC) has issued notices to Medical Council of India (MCI) and State Government asking them to reply to a plea filed by non-service docto.....

Tags : Supreme Court, Medical PG Incentive Marks



Imposing Tax on Un-Communicated Proposal Amounts to Natural Justice Violation: Madras HC(21.05.2018)

Madras High Court has ruled that imposing a tax on proposals that are uncommunicated to the Assessee shall amount to the violation of the principles o.....

Tags : Madras High Court, Income Tax



Income Tax Dept Notifies New Return Forms for 2016-17 for Wealthy Individuals(01.04.2016)

Income Tax Dept has notified new tax return forms for 2016-17, which require wealthy individuals to mandatorily disclose details about assets like lan.....

Tags : Income Tax Dept , Wealthy Individuals, New Return Forms



ITAT, Delhi: Propagation of Yoga Qualifies as Medical Relief(21.02.2017)

Delhi bench of Income Tax Appellate Tribunal (ITAT) has granted exemption status under Sections 11 and 12 of the Income Tax Act to Baba Ramdev’s Patan.....

Tags : Income Tax Appellate Tribunal, Patanjali



No TDS Liability Since Commission to Foreign Agent is Not Subject to Income Tax in India: ITAT(06.03.2018)

Kolkata bench of Income Tax Appellate Tribunal (ITAT) has ruled that there is no Tax Deducted at Source ( TDS ) liability in the hands of the Assesse.....

Tags : Income Tax



Salaried Persons Not Required to Maintain Books of Accounts: ITAT, Kolkata(07.03.2018)

Kolkata bench of ITAT has ruled that a salaried person is not required to maintain books of accounts unless he is engaged in business or profession.

Tags : Income Tax



SC Grants Exemption to Persons Donating Money for Construction of Specified Hospital(14.03.2018)

Supreme Court has held that persons who want to donate money for construction of the specified hospital by the petitioner, Prashanti Medical Services .....

Tags : Supreme Court, Income Tax



CIT Has No Power to Cancel or Withdraw 12A Registration: Supreme Court(15.03.2018)

Supreme Court has held that the Commissioner of Income Tax (CIT) has no power to cancel or withdraw or recall the registration certificate granted und.....

Tags : Supreme Court, Income Tax



Supreme Court: Entire Interest Outgo on Borrowings Cannot be Treated as Expenditure(19.03.2018)

Supreme Court has partly upheld the tax department’s view that investors, be it companies or individuals, cannot take double advantage: first, avoid t.....

Tags : Supreme Court, Income Tax



MCA Notifies Companies (Incorporation) Third Amendment Rules, 2016(01.08.2016)

Ministry of Corporate Affairs (MCA) has notified Companies (Incorporation) Third Amendment Rules,2016 to amend the Companies (Incorporation) Rules, 20.....

Tags : Ministry of Corporate Affairs , Companies (Incorporation) Third Amendment Rules, 2016



SC Rules 'Taking Fingerprint of Accused Doesn't Breach His Right Against Self-Incrimination'(05.05.2017)

Supreme Court, while settling a doubt which has troubled crime investigators for long, has ruled that asking an accused to give finger or foot prints .....

Tags : Supreme Court, Fingerprint, Footprint, Self-Incrimination



Income Tax Department Activates e-filing Facility for All ITRs(05.05.2017)

Income Tax Department has activated e-filing facility for all categories of Income Tax Returns (ITRs) for assessment year 2017-18.

Tags : Income Tax Department, e-filing



Supreme Court Says 'No' to Common Trial For Distinct Offences(09.05.2017)

Supreme Court has said that a general conspiracy which gives birth to a cascade of distinct offences committed in various places spread over several y.....

Tags : Supreme Court, distinct offences



Interest-free Loan from Employer Taxable: ITAT, Mumbai(13.06.2018)

Income Tax Appellate Tribunal, Mumbai (ITAT) has said that interest-free loans extended by an employer are taxable in the hands of an employee as a pe.....

Tags : Income Tax, Loan



Prior Notice Must for Initiating Reassessment Proceeding: ITAT, Amritsar(20.06.2018)

ITAT Amritsar held that notice under Section 148 or 142(1) of the Income Tax Act which is served upon the deceased assessee or his sole legal heir is .....

Tags : Income Tax Department, Notice



Bank Not Liable to Deduct TDS from Interest Paid to Noida Authority: ITAT, Delhi(20.06.2018)

Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that Axis bank is not liable to deduct TDS from the interest paid or credited to Noida Au.....

Tags : Income Tax, TDS



India Denies Patent to Yahoo on IM System(29.08.2016)

Internet technology major Yahoo Inc has received a setback in India with the country’s patent office refusing a patent for its ‘invention’ regarding a.....

Tags : Yahoo Inc , Patent, IM System



CBDT: Trade Advances cannot be treated as ‘Deemed Dividend’(14.06.2017)

Central Board of Direct Taxes (CBDT) has clarified that trade advances would not attract provisions of “deemed dividend” under provisions of Section 2.....

Tags : Central Board of Direct Taxes, Income Tax Act



ITAT, Bengaluru: No Exemption to Society For Investment in Fixed Asset using Loan Amount(15.06.2017)

ITAT, Bengaluru has held that assessee-society is not entitled to exemption in respect of investment in fixed asset using loan amount under section 11.....

Tags : ITAT, Bengaluru, Income Tax Act



ITAT, Bangalore: Income of Minor Beneficiaries Can be Clubbed to Income of Parents(19.06.2017)

ITAT, Bangalore has held that income of minor beneficiaries can be clubbed to income of parents under section 64(1)(a) of Income Tax Act, 1961.

Tags : ITAT, Bangalore, Minor, Income



Gujarat High Court: Mere Rejection of a Claim Would Not Attract Penalty Under Income Tax Act(20.06.2017)

Gujarat High Court has held that penalty cannot be levied on assessee solely on ground of rejection of a claim under Income Tax Act, 1961.

Tags : Gujarat High Court, Income Tax Act



CBDT Notifies Rule 10CB for Secondary Adjustments u/s 92CE of IT Act, 1961(21.06.2017)

Central Board of Direct Taxes (CBDT) has notified Rule 10CB for operationalising the provisions of secondary adjustment under Section 92CE of IT Act, .....

Tags : Income Tax



Gujarat High Court Allows ITR Filing Sans Aadhaar(07.08.2018)

Gujarat High Court has allowed a man to file his income tax return (ITR) manually instead of doing it online which requires linkage to Aadhaar card, a.....

Tags : Gujarat High Court, Aadhaar, Income Tax



Payment of Tax Before Issue of SCN Not a Bar to Impose Penalty: Delhi High Court(08.08.2018)

Delhi High Court has held that the payment of tax amount before the issuance of show cause notice would not absolve the assessee from imposing penalty.....

Tags : Delhi High Court, Income Tax



Pune ITAT: Higher Education Abroad Is No Bar for Claiming Interest on Edu Loans for Tax Deduction(02.12.2015)

Pune Income-tax Appellate Tribunal (ITAT) has held that deduction for interest paid on educational loans taken for higher studies will be allowed from.....

Tags : Pune Income-tax Appellate Tribunal , Edu Loans for Tax Deduction



Punjab and Haryana HC Rejects Petition Seeking CBI Inquiry in Moga Molestation Case(04.12.2015)

Punjab and Haryana HC has rejected a petition seeking Central Bureau of Investigation (CBI) inquiry into Moga molestation incident.

Tags : Punjab and Haryana HC, Moga molestation incident



Revenue Department Extends Return Filing Date for Large Taxpayers to Oct 17(12.09.2016)

Revenue Department has extended the date to October 17 for filing of tax returns by assesses who are required to submit audited accounts in view of th.....

Tags : Revenue Department, Income Declaration Scheme, Filing Date



Apple Books Indian Patent for Portable Electronic Device for Photo Management(19.09.2016)

Apple Inc. has received a patent related to a portable electronic device for photo management in India.

Tags : Apple Inc. Patent,Portable Electronic Device



Supreme Court Fines Income Tax Department Rs 10 Lakh for 'Misleading' It(29.08.2018)

Supreme Court has imposed a fine of Rs 10 lakh on the Income Tax department for reportedly trying to mislead it.

Tags : Supreme Court, Income Tax



Income Tax Dept Cautions Taxpayers to File Returns by 31st August, 2018(30.08.2018)

Income Tax Department has advised the taxpayers to file income tax returns by the deadline of 31st August 2018, the last date for persons whose accoun.....

Tags : Income Tax



Govt. Extends Date for Filing of Income Tax Returns for Taxpayers in Kerala(30.08.2018)

Central Board of Direct Taxes (CBDT) has extended the due date for furnishing Income Tax Returns from 31st August, 2018 to 15th September, 2018 for al.....

Tags : Income Tax



Late Fee Can’t be Levied While Processing TDS Statement: ITAT, Cuttack(31.08.2018)

Income Tax Appellate Tribunal (ITAT), Cuttack has held that the late fee under Section 234E of the Income Tax Act cannot be levied while processing th.....

Tags : Income Tax, TDS



Govt Amends Income Tax Rules, Withdraws Exemption of Transport Allowance of Rs. 1,600 pm(10.04.2018)

Central Board of Direct Taxes (CBDT) has notified the Income Tax (Third Amendment) Rules, 2018 wherein the Government has withdrawn the exemption of T.....

Tags : Income Tax, Transport Allowance



Exemption Under IT Act Available Only to Institutions That Impart Education: Uttarakhand HC(13.04.2018)

Uttarakhand High Court has held that education institutions can avail exemption under Section 10(23C) (vi) of the Income Tax Act only if they exist so.....

Tags : Uttarakhand High Court, Income Tax Act



INSOLVENCY - I-T Department, Other Tax Agencies can Initiate Insolvency: NCLAT(22.03.2019)

National Company Law Appellate Tribunal (NCLAT) has held that Income Tax department of central government and other local authorities “who are entitle.....

Tags : NCLAT, Income Tax Department, Insolvency



INSOLVENCY - I-T Department, Other Tax Agencies can Initiate Insolvency: NCLAT(22.03.2019)

National Company Law Appellate Tribunal (NCLAT) has held that Income Tax department of central government and other local authorities “who are entitle.....

Tags : NCLAT, Income Tax Department, Insolvency



DIRECT TAXATION - Bombay HC Grants Tax Relief to Karan Johar's Dharma Productions(26.03.2019)

Bombay High Court has granted tax relief to Karan Johar who heads Dharma Production by dismissing the appeal filed by the Income Tax department which .....

Tags : Bombay High Court, Karan Johar, Income Tax department



DIRECT TAXATION - Addition for Unexplained Share Capital and Share Premium Can’t be Made Prior to 2013 Amendment: ITAT(27.03.2019)

Income Tax Appellate Tribunal (ITAT) has held that addition in respect of share capital and premium by treating the same as unexplained cannot be made.....

Tags : Income Tax Appellate Tribunal, ITAT, Income Tax Act, 1961



Gujarat High Court: Principle of Mutuality applies to Club run by a Company(27.06.2017)

Gujarat High Court, while deleting addition in respect of life membership and entrance fees received by assessee-Company, has held that principle of m.....

Tags : Gujarat High Court, Principle of Mutuality



Government: Aadhaar Mandatory for PAN application Form from July 1(29.06.2017)

Income Tax Amendment Rules [Income Tax (17th Amendment) Rules, 2017] which makes quoting Aadhaar mandatory for PAN Application from July-1, has been n.....

Tags : Income Tax Amendment Rules, Aadhaar, PAN



CBDT: Property Advance Above Rs. 20,000 Must be Disclosed in Audit Report(05.07.2017)

Central Board of Direct Taxes (CBDT) has notified that property advance of Rs. 20,000 should be disclosed in audit report u/s 44AB of Income Tax Act.

Tags : Central Board of Direct Taxes, Income Tax Act



Bombay High Court: Income Tax from Foreign Company Rendered in India is Taxable(20.08.2018)

Bombay High Court has held that a company or individual who renders services to a foreign company in India and receives remuneration in foreign exchan.....

Tags : Bombay High Court, Income Tax



Bombay High Court: Income Tax from Foreign Company Rendered in India is Taxable(20.08.2018)

Bombay High Court has held that a company or individual who renders services to a foreign company in India and receives remuneration in foreign exchan.....

Tags : Bombay High Court, Income Tax



AP HC Stays Order Reducing Tariffs of Incentivised Wind Power Generators(24.08.2018)

Andhra Pradesh HC has stayed state regulator’s order reducing tariffs of electricity supplied by wind projects that received generation-based incentiv.....

Tags : Andhra Pradesh HC, generation-based incentive



ITAT Bangalore: Income from Sale of Cocoons Taxable as “Other Income”(12.06.2019)

Income Tax Appellate Tribunal (ITAT), Bangalore has noted that the income received from the sale of cocoons is not agricultural income and is taxable .....

Tags : ITAT Bangalore, Other Income



ITAT Hyderabad: Return by Govt Agency Can't be Rejected For Not Furnishing Audit Report(09.06.2017)

Income Tax Appellate Tribunal (ITAT), Hyderabad has held that income tax return filed by a Government agency cannot be rejected by authorities merely .....

Tags : Income Tax Appellate Tribunal, Audit Report



Mushroom is An ‘Agricultural Product’, No Tax on its Production: ITAT(17.07.2018)

Hyderabad bench of Income Tax Appellate Tribunal (ITAT) has held that the income from production and sale of Mushroom can be termed as ‘agricultural i.....

Tags : Income Tax



Wrong Name in Assessment Order Can’t be Cured by Invoking Section 292B: ITAT(19.07.2018)

Income Tax Appellate Tribunal (ITAT) held that mentioning of wrong name in an assessment order cannot be cured by invoking Section 292B of Income Tax .....

Tags : Income Tax Appellate Tribunal, Section 292B of Income Tax Act, 1961



Financial Crisis is a ‘Reasonable Cause’ for Delayed Deposit of TDS: ITAT(19.07.2018)

Income Tax Appellate Tribunal (ITAT) held that financial crisis can be a reasonable cause for not depositing the TDS amount with the Government accoun.....

Tags : Income Tax Appellate Tribunal, Section 273B of IT Act



No Due Date Extension for Income Tax Return Filing: CBDT(23.07.2018)

Central Board of Direct Taxes (CBDT) has clarified that the due date for filing Income Tax Return shall not be extended beyond 31st July, 2018.

Tags : Income Tax



ITAT Lucknow : Rent from Sub-Letting of Warehouse is “Income from Other Sources”(04.06.2019)

Income Tax Appellate Tribunal (ITAT) Lucknow has ruled that the income received by the Assessee by sub-letting a warehouse for commercial purpose woul.....

Tags : ITAT Lucknow, Income from other sources



Income Tax Department Extends Deadline for Employers to Issue Form 16 and Form 24Q(05.06.2019)

Income Tax Department has extended the deadline for employers to issue Form 16 TDS certificate for financial year 2018-19 to its employees till July 1.....

Tags : Income Tax Department, Form 16, Form 24Q



I-T Department Notifies Rules for Foreign Tax Credit(01.07.2016)

Income-Tax Department has notified rules for Foreign Tax Credit, providing clarity on tax credit available to Indian resident taxpayers on foreign inc.....

Tags : Income-Tax Department, Foreign Tax Credit



Govt. Postpones ICDS Norms Enforcement By a Year(07.07.2016)

Govt. has said that Income Computation and Disclosure Standards (ICDS) will now be applicable from the current fiscal year as against 2015-16 notified.....

Tags : Govt. , Income Computation and Disclosure Standards (ICDS)



ITAT, Mumbai: Individuals Paying for Residential Houses Will Get Complete Tax Benefits(02.05.2017)

Income Tax Appellate Tribunal (Mumbai bench) has held that if entire investment for purchase of a new residential house, along with stamp duty and reg.....

Tags : Income Tax Appellate Tribunal, Residential Houses



ITAT, Ahmedabad: Salary Deducted For Not Serving Notice Period is Not Taxable Income(03.05.2017)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has ruled that an amount deducted from an employee's salary for not serving out a notice period cannot.....

Tags : Income Tax Appellate Tribunal, Notice Period



SC: Word ‘Payable’ In Section 40(A) (ia) of Income Tax Act Also Covers Amount Already 'Paid'(04.05.2017)

Supreme Court has held that though the word used in Section 40(a)(ia) of Income Tax Act, is ‘payable’, it would also cover situations where amount i.....

Tags : Supreme Court, Income Tax Act, Section 40(A) (ia)



No Deduction for Acquiring Distribution Rights of Films If It is Not Commercially Exploited: KHC(04.07.2018)

Kerala High Court has held no deduction under Rule 9B of Income Tax Rules, 1962 is allowed in absence of commercial exploitation of feature films.

Tags : Kerala High Court, Income Tax



ITAT: Purchase of Land before Sale of Capital Asset ineligible for Deduction(10.05.2019)

Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption under Section 54 of the Income Tax Act, 1961 cannot be availed in case o.....

Tags : Income Tax Appellate Tribunal, Section 54, Income Tax Act, 1961



Local Chinese Firm Wins Trademark Case For 'iPhone'(06.05.2016)

Apple Inc has lost a battle for use of "iPhone" trademark on leather goods in China after a Beijing court ruled against the world's biggest technology.....

Tags : Apple Inc, iPhone trademark



ITAT Delhi Orders Cairn UK to Pay Rs 10,000 Cr Tax For Transfer of Shares to Cairn India(15.03.2017)

Income Tax Appellate Tribunal, Delhi (ITAT), has ordered UK's Cairn Energy Plc to pay Rs 10,000 crore capital gains tax on transfer of ownership from.....

Tags : Income Tax Appellate Tribunal, Delhi, Cairn India



New Income Tax Return Form for Salaried Class Available in Portal: IT Dept(19.04.2018)

Income Tax Department has said that the latest ITR-1 form, largely used by the salaried tax payers is now available in the official portal for e-filin.....

Tags : Income Tax



ITAT, Pune Allows Claim for Set-off of Loss by Husband Invested in Wife’s Business(30.01.2020)

Income Tax Appellate Tribunal, Pune has held that the wife’s separate income can be clubbed into husbands total income and in the case of any loss inc.....

Tags : Income Tax Appellate Tribunal, Clubbing of Husband and Wife's Incomes



ITAT, Mumbai: Dividend Derived from Shares Held as Stock in Trade Cannot be Disallowed(31.01.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the dividend which is derived from the Shares which are ‘stock in shares’ will not be compu.....

Tags : Income Tax Appellate Tribunal, Dividend Derived from Shares Held as Stock in Trade



ITAT, Delhi: No TDS on Payment of External Development Charges Not Made Out of Statutory Liability(31.01.2020)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Assessee is not required to deduct Tax Deducted at Source (TDS) as the payment of Extern.....

Tags : Income Tax Appellate Tribunal, TDS on Payment of External Development Charges



Google Books India Patent for Method to Determine Ad-Spot Value(26.02.2016)

Google Inc has secured an Indian patent for an invention regarding a method that could help online advertisers with different value propositions in fi.....

Tags : Google Inc, Indian patent



Receipt from Compulsory Acquisition of Agricultural Land is Not Taxable: ITAT, Raipur(20.02.2018)

Raipur bench of Income Tax Appellate Tribunal (ITAT) has proclaimed that capital gain arising out of sale of agricultural land under compulsory acquis.....

Tags : Income Tax, Acquisition



Sales Tax Subsidy is Capital Receipt, Not Taxable: ITAT, Kolkata(20.02.2018)

Kolkata bench of Income Tax Appellate Tribunal has held that sales tax subsidy is capital receipt and it is not taxable.

Tags : Income Tax, Sales Tax



Voluntary Surrender of Income Without Disclosing Its’ Source Would Not Avoid Penalty: Delhi HC(22.02.2018)

Delhi High Court has held that voluntary surrender of income without disclosing its source cannot rescue assessee from facing penal consequences under.....

Tags : Delhi High Court, Income Tax



Voluntary Surrender of Income Without Disclosing Its’ Source Would Not Avoid Penalty: Delhi HC(22.02.2018)

Delhi High Court has held that voluntary surrender of income without disclosing its source cannot rescue assessee from facing penal consequences under.....

Tags : Delhi High Court, Income Tax



Gujarat High Court: Probability or Improbability of Realisation to be Considered in Realistic Manner(15.01.2020)

Gujarat High Court has held that the probability or improbability of realization has to be considered in a realistic manner and there is no real accru.....

Tags : Gujarat High Court, Probability or Improbability of Realisation, Income



ITAT Delhi: Exemption to Agricultural Lands Bought not for Business Purposes Allowed(17.01.2020)

Income Tax Appellate Tribunal, Delhi has allowed exemption on agricultural lands bought without an intention to purchase the land for any business pur.....

Tags : Income Tax Appellate Tribunal, Exemption on Agricultural Lands



CBDT Notifies Tax Exemption to Startups from 'Rigour' of Section 56(2)(viib) of Income Tax Act(20.06.2016)

Central Board of Direct Taxes (CBDT) has notified tax exemption on investments above fair market rate for startups. The exemption is provided to start.....

Tags : Central Board of Direct Taxes, section 56(2)(viib) of Income Tax Act, startups



Income-Tax Tribunal: Gains from Penny Stocks Not Bogus(22.06.2016)

Income-Tax Tribunal has ruled that gains from penny stocks cannot be termed as bogus just because the Securities and Exchange Board of India is inquir.....

Tags : Income-Tax Tribunal , Securities and Exchange Board of India , Penny Stocks



Angel Investments in Small Start-ups Get Tax Exemption(28.05.2018)

Income Tax Department has exempted from tax the investments that small start-ups receive from angel investors above their fair valuation.

Tags : Income Tax Department, Start-ups



ITAT, Mumbai: Taxpayers Can Change ‘Self-occupied’ House to Cut Tax Outgo(08.06.2018)

Mumbai bench of Income Tax Appellate Tribunal (ITAT) has upheld the right of a taxpayer to change his selection of a house property that would be trea.....

Tags : Income Tax, House Property



Principles of Natural Justice to be Followed Before Branding a Company a Shell Company: Gauhati HC(19.04.2019)

Gauhati High Court has held that an order branding any company as a shell company, without serving notice or hearing, violates principles of natural j.....

Tags : Gauhati High Court, Shell Company, Principles of Natural Justice



ITAT, Mumbai: Penalty Cannot be Levied for Genuine Omissions in Income Tax Returns(19.02.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that genuine omissions must be excluded from the levy of penalty under Section 271 (1) (a) of th.....

Tags : Income Tax Appellate Tribunal, Genuine Omissions in Income Tax Returns



ITAT, Bangalore Extends Stay Period for Google India Due to Delay in Disposal of Appeal(19.02.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has granted an extension of stay period to Google India citing a reason for the delay in non-disposal .....

Tags : Income Tax Appellate Tribunal, Google India



SC: Exemption Claimed u/s 80-IB Won't be Taken into Count While Availing Benefits u/s 80-IC(23.05.2018)

Supreme Court has held that the periods for which deductions were availed earlier by an assessee u/s 80-IA and S. 80-IB of Income Tax Act would not be.....

Tags : Supreme Court, Income Tax



Section 50C can’t be Applied When Property Sold Under Pressure: ITAT(05.04.2019)

Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the provisions of Section 50C of the Income Tax Act, 1961 cannot be applied when the.....

Tags : ITAT, Chennai Bench, Section 50 C Income Tax Act



CBDT Notifies Income Tax Return Forms for AY 2019-20(05.04.2019)

Central Board of Direct Taxes (CBDT) has notified the income tax return forms for the Assessment Year 2019-20.

Tags : CBDT, Income Tax Return Forms, AY 2019-2020



ITAT, Chandigarh: Cancellation of Registration to Society Cannot be Ground for Imposing Penalty(02.03.2020)

Income Tax Appellate Tribunal (ITAT), Chandigarh has held that penalty under Section 271(1) (a) of the Income Tax Act, 1961 cannot be levied on a char.....

Tags : Income Tax Appellate Tribunal, Cancellation of Registration to Society



ITAT, Delhi: Unsigned Balance Sheets Not Admissible as Evidence(02.03.2020)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the unsigned balance sheets by Auditor or the Director of Company cannot be treated as relia.....

Tags : Income Tax Appellate Tribunal, Unsigned Balance Sheets



ITAT, Bangalore: Hindu Undivided Family Cannot be Taxed After Its Partition(02.03.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that once partition is completed and the Hindu Undivided Family (HUF) is dissolved, such HUF .....

Tags : Income Tax Appellate Tribunal, Hindu Undivided Family



ITAT, Kolkata: Swapping Company Shares Among Shareholders Does Not Attract Addition u/s 68(03.03.2020)

Income Tax Appellate Tribunal (ITAT), Kolkata has held that the provisions of Section 68 of the Income Tax Act, 1961 would not be applicable in case o.....

Tags : Income Tax Appellate Tribunal, Swapping Company Shares



DIRECT TAXATION - ITAT Rejects Fake Claim for Deduction of Rent Paid to Mother as Same Was an Afterthought(27.03.2019)

Income Tax Appellate Tribunal (ITAT) has disallowed a fake claim for deduction because it was established that the rent paid to mother was nothing, bu.....

Tags : Income Tax Appellate Tribunal, ITAT, Rent Deduction, false claim



DIRECT TAXATION - Delay in Statutory Audit is Reasonable Cause for Delayed Filing of Tax Audit Report: ITAT(27.03.2019)

Income Tax Appellate Tribunal (ITAT) has held that the delay in completion of statutory audit can be a reasonable cause for delay in filing of the tax.....

Tags : Income Tax Appellate Tribunal, ITAT, statutory audit, tax audit report



DIRECT TAXATION - Manufacture of Herbal Products Eligible for IT Deduction: Madras HC(28.03.2019)

Madras High Court has held that manufacture of the herbal products would be eligible for deduction under Section 80IA of the Income Tax Act, 1961.

Tags : Madras HC, 80IA of the Income Tax Act, 1961



DIRECT TAXATION - ITAT: Mere Suspicion that Expenditure is for Non-Business Purposes Can’t be a Ground for Addition(28.03.2019)

Income Tax Appellate Tribunal (ITAT) has held that addition cannot be made merely on the ground that the expenditure is for non-business purposes.

Tags : Income Tax Appellate Tribunal, ITAT



ITAT, Bangalore: No Disallowance of Interest Expenses on Account of Non-Deduction of TDS(12.02.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that there should be no disallowance of interest expenses on account of non- deduction of Tax.....

Tags : Income Tax Appellate Tribunal, No Disallowance of Interest Expenses



ITAT, Chennai Disallows Deduction Claim on Receipts from Carbon Credit(12.02.2020)

Income Tax Appellate Tribunal (ITAT), Chennai has held that the receipts from the sale of the carbon credit are liable to be treated as the capital re.....

Tags : Income Tax Appellate Tribunal, Deduction Claim on Receipts from Carbon Credit



ITAT, Kolkata Quashes Re-Assessment Proceedings Against Price Waterhouse & Co.(13.02.2020)

Income Tax Appellate Tribunal (ITAT), Kolkata has quashed the re-assessment proceedings against Price Waterhouse & Co. and held that to reopen the ass.....

Tags : Income Tax Appellate Tribunal, Re-Assessment Proceedings Against Price Waterhouse & Co.



CIVIL - SC Sets Aside Bombay HC Order Penalising Senior Tax Official(08.03.2019)

Supreme Court has set aside an order by Bombay High Court that had imposed a fine on Deputy Commissioner of Income Tax (Mumbai) and made adversarial r.....

Tags : Supreme Court, Deputy Commissioner of Income Tax (Mumbai)



DIRECT TAXATION - SC Sets Aside Bombay HC Order Penalising Senior Tax Official(08.03.2019)

Supreme Court has set aside an order by Bombay High Court that had imposed a fine on Deputy Commissioner of Income Tax (Mumbai) and made adversarial r.....

Tags : Supreme Court, Deputy Commissioner of Income Tax (Mumbai)



ITAT: Normal Business Advances Not in Nature of ‘Loan’ are Not Deemed Dividend(21.01.2020)

Income Tax Appellate Tribunal, Delhi has held that the transaction where advance is received in the normal course of business and which is not taken a.....

Tags : Income Tax Appellate Tribunal, Business Advances, Deemed Dividend



ITAT Erases Addition by TPO on Transaction of Rendering Marketing Services of Channel Placement Right(23.01.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has deleted the addition by Transfer Pricing Officer on the ground that the transaction of rendering mark.....

Tags : Income Tax Appellate Tribunal, Addition on Transaction of Rendering Marketing Services



ITAT Mumbai Allows Depreciation on Goodwill Resulting from Acquisition of Business Unit(28.01.2020)

Income Tax Appellate Tribunal (ITAT) Mumbai has allowed depreciation on goodwill resulting from the acquisition of Business Unit of Lee & Muirhead Pvt.....

Tags : Income Tax Appellate Tribunal, Depreciation on Goodwill



ITAT Cuttack: Non-Availability of PAN of Deductee Cannot be Used to Escape from Filing TDS(28.01.2020)

Income Tax Appellate Tribunal (ITAT), Cuttack has held that the non-availability of a Permanent Account Number (PAN) of the deductee is not an excuse .....

Tags : Income Tax Appellate Tribunal, Non- Availability of PAN, Filing of TDS



ITAT, Mumbai: Society Imparting Training to State Govt. Employees Eligible for Tax Exemption(19.02.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the society formed to impart training to the State Government employees is eligible for inc.....

Tags : Income Tax Appellate Tribunal, Society Imparting Training to State Govt. Employees



Madras High Court: E- Assessments Alone by Income Tax Department Can Lead to Erroneous Assessments(24.02.2020)

Madras High Court has stated that the e-proceedings facility provided by the income tax department from 2017-18 can lead to erroneous assessments as o.....

Tags : Madras High Court, E- Assessments by Income Tax Department



ITAT, Mumbai: Interest on Investments in Co-operative Bank Eligible for Deduction(24.02.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the interest income earned by a co-operative society on its investments held with a co-oper.....

Tags : Income Tax Appellate Tribunal, Interest on Investments in Co-operative Bank



Madhya Pradesh HC: Mere Statements Cannot be Considered as Incriminating Material(24.02.2020)

Madhya Pradesh High Court has held that the unexplained investments were made by the Assessing Officer merely based on the statements given during the.....

Tags : Madhya Pradesh High Court, Incriminating Material or Documentary Evidence



ITAT, Bangalore: Reimbursement of Vehicle Expenses by Cab Owners Not Subject to TDS(27.02.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the payments made by the cab owners which are in the nature of reimbursement of vehicle .....

Tags : Income Tax Appellate Tribunal, Reimbursement of Vehicle Expenses by Cab Owners



ITAT, Chennai: Wife Eligible for Capital Gain Deduction Towards House Purchased in Husband’s Name(27.02.2020)

Income Tax Appellate Tribunal (ITAT), Chennai has held that the wife is eligible for deduction under Section 54 of the Income Tax Act, 1961 for the in.....

Tags : Income Tax Appellate Tribunal, Wife Eligible for Capital Gain Deduction



ITAT: Revisional Jurisdiction Can’t be Exercised on Issue not Covered in Re-Assessment(10.05.2019)

Income Tax Appellate Tribunal (ITAT) has held that Commissioner of Income Tax cannot invoke revisional jurisdiction under Section 263 of Income Tax Ac.....

Tags : Income Tax Appellate Tribunal, Section 263, Income Tax Act, 1961



ITAT: Mistake Committed by Advocate is Reasonable Cause for Condonation of Delay(10.05.2019)

Income Tax Appellate Tribunal (ITAT) has held that the mistake committed by Advocate is a reasonable cause for condonation of delay in filing appeals.

Tags : Income Tax Appellate Tribunal, condonation of delay



ITAT, Mumbai: No Penalty If Non-Furnishing of Tax Audit Report was Due to Bona Fide Reasons(18.03.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the penalty under Section 271B of the Income Tax Act, 1961 is not leviable if there are bon.....

Tags : Income Tax Appellate Tribunal, Non-furnishing of Tax Audit Report



ITAT, Mumbai: Taxpayer Can Opt a Method Resulting in Lowest Tax Liability(19.03.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that if there exist two methods for tax payment, the Assessee can opt the method which would res.....

Tags : Income Tax Appellate Tribunal, Lowest Tax Liability



ITAT, Chennai Allows Depreciation on ATMs(23.03.2020)

Income Tax Appellate Tribunal (ITAT), Chennai has held that the Automated Teller Machines (ATM) would be eligible for the higher rate of depreciation .....

Tags : Income Tax Appellate Tribunal, Depreciation on ATM



ITAT, Kolkata: No Addition on Share Premium if Shares Allotted Under Barter System(24.03.2020)

Income Tax Appellate Tribunal (ITAT), Kolkata has held that the Assessing Officer cannot invoke the provisions of Section 68 of the Income Tax Act, 19.....

Tags : Income Tax Appellate Tribunal, Addition on Share Premium



ITAT,Hyderabad: No Penalty If Assessee Discloses Correct Income During Scrutiny(30.05.2017)

Income Tax Appellate Tribunal (ITAT), Hyderabad has held that penalty under Section 271(1)(c) of Income Tax Act is not leviable in a case where assess.....

Tags : Income Tax Appellate Tribunal (ITAT), Hyderabad



Delhi HC: No Notice Needed to Search & Seize 'Undisclosed Money' Deposited in 3rd Party A/C(31.05.2017)

Delhi High Court held that ‘Undisclosed Money’ deposited in a third parties’ Bank Account can be subject to search and seizure under Income Tax Act ev.....

Tags : Delhi High Court, Undisclosed Money, Income Tax Act



ITAT, Delhi: Commissioner Sanction Not Required for Contribution towards EPF Under EPF Act(31.05.2017)

ITAT Delhi has held that approval by Commissioner of Income Tax is not a mandatory requirement to allow deduction of contribution towards EPF under se.....

Tags : ITAT Delhi, Income Tax Act, Employees provident Fund Act



Assessee Has to Prove Tax Exemption: Supreme Court(31.07.2018)

Supreme Court has held that onus of proving a tax exemption where the guidelines aren’t clear would be on the assessee, and he cannot claim the benefi.....

Tags : Supreme Court, Income Tax



Kerala High Court Rejects Plea by Income Tax Officer Charged for Leaking Informant's Identity(30.05.2019)

Kerala High Court has refused to quash the disciplinary proceedings initiated against an Income Tax officer for allegedly leaking the identity of an i.....

Tags : Kerala High Court, Income Tax Officer



Karnataka HC: Migrant Not to be Denied Opportunity to Travel Because of Incapacity to Pay(14.05.2020)

Karnataka High Court has directed the Central and State Government to take immediate decision on the question of paying railway fare of those migrant .....

Tags : Karnataka High Court, Migrants, Incapacity to Pay



Bombay HC: "No Work No Pay" Principle Cannot be Made Applicable in Extraordinary Circumstances(15.05.2020)

Bombay High Court has held that the principle of 'No Work No Pay' cannot be made applicable in such extraordinary circumstances prevailing in the coun.....

Tags : Bombay High Court, "No Work No Pay" Principle



ITAT, Delhi: Pre-Operative Expenses Cannot be Allowed as Business Expense(14.02.2020)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the expenses which are incurred before the operation of a company are called preoperative ex.....

Tags : Income Tax Appellate Tribunal, Pre-Operative Expenses



ITAT, Ahmedabad: Letting Out of Property and Furniture for Film Exhibition is Business Activity(14.02.2020)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that the income received from Film Exhibition Business that has been leased out to another pa.....

Tags : Income Tax Appellate Tribunal, Letting Out of Property and Furniture for Film Exhibition



ITAT, Cochin: Financial Crisis and Labour Unrest Sufficient Reasons to Condone Delay in Filing Appeal(18.02.2020)

Income Tax Appellate Tribunal (ITAT), Cochin has held that the reasons such as financial crisis and labour unrest are enough grounds for condoning the.....

Tags : Income Tax Appellate Tribunal, Condone Delay in Filing Appeal



ITAT, Bangalore: Royal Challengers Eligible for Tax Deduction for Contribution(18.02.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has allowed tax deduction to Royal Challengers Sports Pvt. Ltd. on its contribution of Rs. 15 Crores t.....

Tags : Income Tax Appellate Tribunal, Tax Deduction for Contribution, Royal Challengers



Telangana High Court: Summoning Income Tax Returns Does Not Violate Right to Privacy(18.02.2020)

Telangana High Court has held that a direction to produce income tax returns in Court will not violate the right to privacy under Article 21 of the Co.....

Tags : Telangana High Court, Summoning Income Tax Returns



Calcutta High Court Seeks Replies from President and Secretary of Mendipur Bar Association(18.02.2020)

Calcutta High Court has sought replies from the President and Secretary of the Mendipur Bar Association explaining why action must not be taken agains.....

Tags : Calcutta High Court, Incessant Lawyers' Strike



ITAT, Pune: French Company Can’t be Taxed for Rendering IT Support Services to Indian Entities(03.03.2020)

Income Tax Appellate Tribunal (ITAT), Pune bench has held that the Information Technology (IT) support services rendered by a French Company to an Ind.....

Tags : Income Tax Appellate Tribunal, French Company Rendering IT Support



ITAT, Mumbai: Wrong Assumption or Incorrect Application Would Make Order Liable for Revision(04.03.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the wrong assumption of facts or incorrect application of the law would make the order liab.....

Tags : Income Tax Appellate Tribunal, Wrong Assumption or Incorrect Application



SC Seeks Response on Providing Copy of CBI's Closure Report in Hindustan Zinc's Disinvestment(05.03.2020)

Supreme Court has given time to Centre till 6th March, 2020 to make a statement on handing over a copy of the Central Bureau of Investigation (CBI) cl.....

Tags : Supreme Court, Hindustan Zinc Limited



ITAT, Bangalore: Warrant Expenses are Deductible from Book Profit(11.03.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the warrant expenses should be deducted from the book profit under Section 115JB of the .....

Tags : Income Tax Appellate Tribunal, Warrant Expenses



ITAT, Mumbai: Rent from Children Cannot be Treated as Tool for Evasion(11.03.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the rent received from son and daughter of the Assessee could not be treated as a tax evasi.....

Tags : Income Tax Appellate Tribunal, Rent from Children



ITAT, Mumbai: Reimbursement of Equipment Lost in Hole is Capital Receipt(12.03.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the reimbursement received by the Assessee-Company on account of equipment lost in hole is .....

Tags : Income Tax Appellate Tribunal, Equipment Lost in Hole



Supreme Court: Expenditure Incurred To Earn Dividend Income On Shares Not Deductible(11.05.2017)

Supreme Court has held that Section 14A of Income Tax Act would apply to dividend income on which tax is payable under Section 115-O of Act.

Tags : Supreme Court, Income Tax



Government: Firms Must Disclose Securities Deals Above Rs 10 lakh by May 31(17.05.2017)

Government has asked all companies to disclose shares and bond transactions involving Rs 10 lakh or more in a financial year to Income Tax department .....

Tags : Firms, shares, bonds, income tax



Property Tax Paid in Respect of Leased Property is Allowable as Expenditure: ITAT(09.07.2018)

Delhi bench of Income Tax Appellate Tribunal (ITAT) has held that tenant is eligible for deduction in respect of the amount of property tax paid on le.....

Tags : Income Tax, Lease, Property



Payments Made for Air Freight Not Taxable in India: ITAT, Delhi(09.07.2018)

Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that payments made for Air Freight by the assessee (company) to such airline companies or.....

Tags : Income Tax, Air Freight



Tax Defaulters Need Not Apprehend Immediate Arrest on Issuance of Show Cause Notice: Karnataka HC(09.07.2018)

Karnataka High Court has observed that there need not be any apprehension of immediate arrest or detention in civil prison on issuance of a show cause.....

Tags : Karnataka High Court, Income Tax



Assessment Merely Based on Statements Recorded by CBI is Invaild: ITAT(10.07.2018)

Bengaluru bench of Income Tax Appellate Tribunal has held that additions made merely on the basis of statements recorded by the CBI is not valid .

Tags : Income Tax, CBI



Honorarium Paid to Chairman of Govt Company is Business Expenditure: ITAT(13.07.2018)

Delhi bench of Income Tax Appellate Tribunal in has held that honorarium paid to Chairman of a Government Company is allowable as business expenditure.....

Tags : Income Tax, Business Expenditure



ITAT, Kolkata: Disallowance of Deduction of Interest Income Should be Restricted to Net Interest(08.05.2020)

Income Tax Appellate Tribunal (ITAT), Kolkata has held that disallowance of deduction under Section 80IB(10) of the Income Tax Act, 1961 in respect of.....

Tags : Income Tax Appellate Tribunal, Disallowance of Deduction of Interest Income



ITAT, Mumbai: Income From Cloud Hosting Services not Taxable Under ‘Royalty’(27.02.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that, Income from Cloud Hosting Services not Taxable under the head ‘Royalty’ within the meanin.....

Tags : Income Tax Appellate Tribunal, Income From Cloud Hosting Services



ITAT, Bangalore: Foreign Exchange Loss on Repayment of Borrowings is Revenue Expenditure(27.02.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has granted relief to Cafe Coffee Day and held that foreign exchange loss due to the reinstatement of .....

Tags : Income Tax Appellate Tribunal, Foreign Exchange Loss on Repayment of Borrowings



ITAT, Ahmedabad: Deduction on Legal and Professional Fees Incurred to Improve Day to Day Working(02.03.2020)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that general deduction on Legal and Professional Fees incurred for the improvement of day to .....

Tags : Income Tax Appellate Tribunal, Deduction on Legal and Professional Fees



ITAT, Ahmedabad: Expenses on Interest Payment on Loans Not Added While Computing Book Profit(02.03.2020)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that expenses on account of interest payment on loans could not be added while computing book.....

Tags : Income Tax Appellate Tribunal, Computing Book Profit



ITAT, Pune: Stamp Value Would be Full Consideration Only if Payment Made Through Bank(02.03.2020)

Income Tax Appellate Tribunal (ITAT), Pune has observed that the stamp value on the date of agreement to sell shall be considered as full value of con.....

Tags : Income Tax Appellate Tribunal, Stamp Value



SC: Newly Incorporated Trust Entitled to 12AA Benefits Even in the Absence of Any Activities(02.03.2020)

Supreme Court of India has upheld the Delhi High Court judgment and ruled that newly incorporated trust is entitled to get Section 12AA of the Income .....

Tags : Supreme Court, Newly Incorporated Trust



CBDT Notifies Income Tax Exemption to Press Trust of India(06.09.2018)

Central Board of Direct Taxes (CBDT) has notified Income Tax Exemption to Press Trust of India.

Tags : Income Tax, Press Trust of India



CBDT Notifies Rules to Determine Fair Market Value of Inventories Converted to Capital Asset(06.09.2018)

Central Board of Direct Taxes (CBDT) has notified the rules relating to the determination of Fair Market Value of inventories converted into capital a.....

Tags : Income Tax, Market Value



Union Budget, 2019 – Income Tax Rate Increases(05.07.2019)

Union Finance Minister Nirmala Sitharaman has increased the income tax rate to 3 % for those earning Rs 2 to 5 crore and to 7 % for those above Rs 5 c.....

Tags : Union Budget 2019, Income Tax Rate



Union Budget, 2019: No Change in Income Tax Slabs(05.07.2019)

Union Finance Minister Nirmala Sitharaman has informed there is no change in the income tax slabs being followed currently.

Tags : Union Budget 2019, Income Tax



ITAT, Mumbai: Interest Income Earned by HSBC Bank Not Eligible to Tax(14.07.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that interest income of Rs 1,498 crore earned by HSBC Bank during the assessment year 2015-16 f.....

Tags : Income Tax Appellate Tribunal, HSBC Bank



ITAT, Delhi Allows Taxmann Publication Claim of Depreciation on Intangible CMS Software(16.07.2020)

Income Tax Appellate Tribunal (ITAT), Delhi has directed the Assessing Officer to allow the Assessee, Taxmann Publication to claim depreciation on the.....

Tags : Income Tax Appellate Tribunal, Taxmann, Depreciation on CMS Software



ITAT, Jodhpur Grants Tax Exemption to Charitable Trust Providing Mid-Day Meals(16.07.2020)

Income Tax Appellate Tribunal (ITAT), Jodhpur has allowed income tax exemption to a charitable Trust engaging in the activity of providing mid-day mea.....

Tags : Income Tax Appellate Tribunal, Charitable Trust Providing Mid-Day Meals



Bombay HC Rejects PIL Seeking Inclusion of Services by Lawyers as Essential Services(17.07.2020)

Bombay High Court has rejected the Petition filed by an advocate seeking declaration of services rendered by lawyers as essential service and thus exe.....

Tags : Bombay High Court, Inclusion of Services by Lawyers as Essential Services



Madras HC Summons Principal Secretary, Department of School Education(21.09.2016)

Madras HC has directed Principal Secretary, Department of School Education, to appear in court with records on November 7 in connection with a public .....

Tags : Madras HC , Principal Secretary, Department of School Education, unrecognised schools



Govt: NRIs Not Having Indian Bank Accounts to get Income Tax Refund in Foreign Bank Account(26.07.2017)

Government has said that Income Tax Refunds will be credited to Foreign Bank Account also for Non-Residents who is not having bank account in India.

Tags : Income Tax Refunds



#Income Tax: IT Department Starts Accepting Returns Without Linking PAN-Aadhaar(31.07.2017)

Income Tax department has started accepting returns without linking PAN with Aadhaar Number upto 5 lakhs. This is due to people are facing problems wi.....

Tags : Income Tax, PAN, Aadhar



Income Tax Return Deadline for Financial Year 2018-19 Extended to August 31(24.07.2019)

Ministry of Finance has extended the deadline for filing income tax return for Financial Year 018-19 by individuals to August 31, 2019 from July 31, 2.....

Tags : Income Tax Return, Deadline



Kerala HC: Merely Inciting Feelings of One Community Cannot Attract Section 153A IPC(27.07.2020)

Kerala High Court has observed that merely inciting the feelings of one community or group without any reference to any other community or group canno.....

Tags : Kerala High Court, Inciting Feelings of One Community



Delhi HC Issues Notice on Inclusion of Persons with Disabilities as Beneficiaries(30.07.2020)

Delhi High Court has issued notice to all States and Union Territories in a plea moved by the National Federation of Blind seeking a direction to be i.....

Tags : Delhi High Court, Inclusion of Persons with Disabilities as Beneficiaries



Cisco Wins U.S. Patent Dispute over Wifi Technology(29.12.2015)

A U.S. Appeals Court has cleared Cisco Systems Inc of infringing another company's wifi technology, reversing a near $64-million judgement against the.....

Tags : U.S. Appeals Court, Cisco Systems Inc, wifi technology, patent



PAN Must for Cash Payment of Hotel Bill over Rs 50,000 from Tomorrow(31.12.2015)

Furnishing PAN has been made mandatory from tomorrow for cash transactions such as hotel or foreign travel bills exceeding Rs 50,000. Department of In.....

Tags : PAN , Department of Income Tax



Delhi HC Stays Fresh Tax Demand on Vodafone(04.01.2016)

Delhi High Court has directed Income-Tax (I-T) department not to give effect to any fresh assessment against Vodafone for assessment year 2011-12 till.....

Tags : Delhi High Court, Income-Tax (I-T) department , Vodafone



SC: Erstwhile Rulers Need Not Pay Tax On Income From Leasing Palaces(13.12.2016)

Supreme Court has held that Erstwhile rulers are not required to pay tax on income earned by letting out a portion of their residential palace.

Tags : Supreme Court, Erstwhile rulers, residential palace, income tax



Punjab & Haryana HC Seeks Government’s Reply to Telcos’ Understated Income(14.12.2016)

Punjab & Haryana HC has sought responses from Government, Ministry of Communications, Ministry of Electronics & Information Technology and Comptroller.....

Tags : Punjab & Haryana High Court, telecom companies, Understated Income



No TDS Since Roaming Charges Is Not Fee for Technical Services: ITAT, Chennai(07.12.2017)

Income Tax Appellate Tribunal (ITAT), Chennai has held that roaming charges cannot be considered as fee for technical services, hence there is no need.....

Tags : Income Tax



ITAT, Delhi Gives Relief on DDT by Local Companies on Dividends to Foreign Shareholders(15.10.2020)

Income-Tax Appellate Tribunal (ITAT), Delhi has ruled that dividend distribution tax (DDT) payable by Indian companies on dividends distributed to non.....

Tags : Income Tax Appellate Tribunal, Dividend Distribution Tax



Supreme Court Rejects Incarceration Plea of Four Accused in 25 Years Old Murder Case(26.12.2016)

Supreme Court has confirmed guilt of four persons accused of murdering an elderly couple in their flat in Calcutta on a Christmas Eve 25 years ago.

Tags : Supreme Court, Christmas Eve, Incarceration



Supreme Court Rejects Urgent Hearing Pleas on Tax Breaks For Parties(26.12.2016)

Supreme Court has refused to grant an urgent hearing on a PIL challenging Constitutional Validity of income tax exemptions to registered political par.....

Tags : Supreme Court, income tax, political parties



Himachal Pradesh HC Turns Down Virbhadra’s Plea Challenging IT Dept Order(27.12.2016)

Himachal Pradesh High Court has dismissed petitions filed by Chief Minister Virbhadra Singh, his wife Pratibha and son Vikramaditya challenging orders.....

Tags : Himachal Pradesh High Court, Virbhadra Singh, Income Tax



CCI Approves Pfizer Inc- ICU Medical Inc Acquisition Deal(28.12.2016)

Competition Commission of India (CCI) has accepted acquisition of drug manufacturer Pfizer Inc’s global infusion system business by US-based ICU Medic.....

Tags : CCI, Pfizer Inc, ICU Medical Inc



No Income Tax Deduction to Law Firm for Expenses Incurred for Pleasure Tour by Counsels: ITAT(08.01.2019)

Income Tax Appellate Tribunal (ITAT), Delhi, has held that no income tax deduction can be given to the law firm, Luthra & Luthra, for the expenses inc.....

Tags : ITAT, Income Tax Deduction to Law Firm,Pleasure Tour by Counsels



Delhi High Court Pulls Up Cops for Snatching Incidents(17.10.2019)

Delhi High Court has directed the police to be “more visible on the streets” to deter potential criminals in the waken of recent snatching incidents. .....

Tags : Delhi High Court, Snatching Incidents



HP HC: Employee Who Retired on 31st of a Month Not Entitled to Increment(17.11.2020)

Himachal Pradesh High Court has held that an employee, who has retired on the 31st of a month, cannot claim the benefit of an increment which became d.....

Tags : Himachal Pradesh High Court, Increment



Madras HC Stays Income Tax Case Against Chidambaram, Family(27.01.2017)

Madras High Court has stayed proceedings initiated by Income Tax Department against former Union Minister P. Chidambaram, his wife and Senior Advocate.....

Tags : Madras High Court, P. Chidambaram, Income Tax



Tax Arrears of Deceased Assessee Can’t be Recovered Out of Wife's Personal Property: Gujarat HC(23.01.2018)

Gujarat High Court has said that Tax Arrears of a deceased assessee cannot be recovered out of the personal properties of wife.

Tags : Gujarat High Court, Income Tax



Form INC-1 No More Valid, MCA Advises to Use RUN / SPICe Form for Company Incorporation(31.01.2018)

Ministry of Corporate Affairs has announced that the Form INC-1 for which no incorporation forms were filed before 17th January has been expired. The .....

Tags : Company Incorporation



Form INC-1 No More Valid, MCA Advises to Use RUN / SPICe Form for Company Incorporation(31.01.2018)

Ministry of Corporate Affairs has announced that the Form INC-1 for which no incorporation forms were filed before 17th January has been expired. The .....

Tags : Company Incorporation



Supreme Court: Rule 8D of Income Tax Rules Prospective in Operation(05.02.2018)

Supreme Court has affirmed a Bombay High Court judgment holding that Rule 8D of Income Tax Rules is prospective in operation and could not have been a.....

Tags : Supreme Court, Income Tax



ITAT, Bangalore Confirms Disallowance of Advertisement Expenses(08.12.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has confirmed the disallowance of advertisement expenses relating to the construction of the swimming .....

Tags : Income Tax Appellate Tribunal, Advertisement Expenses



ITAT: No Tax Applicable on India-Singapore Tax Treaty(08.12.2020)

Income Tax Appellate Tribunal (ITAT) has held that no tax applicable on the shipping income of foreign vessels under the India-Singapore Tax Treaty.

Tags : Income Tax Appellate Tribunal, India-Singapore Tax Treaty



ITAT, Jaipur: Exemption u/s 11 and 12 Allowable on Donation by Charitable Trust(01.12.2020)

Income Tax Appellate Tribunal (ITAT), Jaipur has given relief to Rajasthan Cricket Association and held that the exemption under Section 11 and 12 of .....

Tags : Income Tax Appellate Tribunal, Exemptions on Donations by Charitable Trust



ITAT, Mumbai: Taxpayer Can Add Price Paid for Amenities to Arrive atTotal Cost of Acquisition(02.12.2020)

Income-Tax Appellate Tribunal (ITAT), Mumbai has held that the taxpayer can add the price paid for amenities to a builder’s group company to arrive at.....

Tags : Income Tax Appellate Tribunal, Total Cost of Acquisition



Madras HC Dismisses Plea Challenging Increase in Fee under Tamil Nadu Chit Fund Rules, 1984(03.12.2020)

Madras High Court dismissed a plea challenging increase in fee from 3% to 5% under Tamil Nadu Chit Fund Rules, 1984.

Tags : Madras High Court, Increase in Fees



ITAT, Mumbai: No TDS on Sales Commission Paid to Overseas Agents(04.12.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that tax cannot be detected at source on Sales Commission paid to Overseas Agents not having Per.....

Tags : Income Tax Appellate Tribunal, Sales Commission Paid to Overseas Agents



ITAT, Bangalore: No TDS Applicable on Reimbursement of Actual Cab Expenses(04.12.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that no TDS (Tax Deducted at Source) is applicable on the reimbursement of the actual cab exp.....

Tags : Income Tax Appellate Tribunal, Reimbursement of Cab Expenses



ITAT, Mumbai: No Disallowance of Interest on Borrowed Capital for Business Purposes(04.12.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that interest paid on borrowed funds used for business purposes cannot be disallowed.

Tags : Income Tax Appellate Tribunal, Disallowance of Interest on Borrowed Capital



ITAT, Mumbai: Data Processing Cost Paid by KBC Bank Branch to Head Office Isn’t Royalty(04.12.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has upheld the order passed by CIT(A) holding that the Data Processing Cost paid by the KBC Bank Branch t.....

Tags : Income Tax Appellate Tribunal, KBC Bank Branch



I-T Department Notifies Rules Relaxing Norms on Foreign Fund Managers(17.03.2016)

Income-Tax Department has notified rules relaxing certain earlier conditions governing foreign fund managers in a bid to encourage them to move to Ind.....

Tags : Income-Tax Department , foreign fund managers



Madras High Court Quashes I-T Order Against Kalanithi Maran(29.03.2018)

Madras High Court has set aside an order of the income tax department declaring him as the principal officer of Spicejet Ltd, thereby making him liabl.....

Tags : Madras High Court, Income Tax



CBDT Extends Deadline for Compounding of Income Tax Offences(06.01.2020)

Central Board of Direct Taxes has extended the last date for taxpayers to avail a “one- time” facility to apply for compounding of income tax offences.....

Tags : CBDT, Income Tax Offences



Central Board of Direct Taxes Notifies Changes in Income Tax Return Forms(06.01.2020)

Central Board of Direct Taxes has notified changes in Income Tax Returns Forms whereby individual taxpayers owning house property in joint ownership a.....

Tags : Central Board of Direct Taxes, Income Tax Return Forms



Income Tax Appellate Tribunal, Bangalore: Delay in Furnishing Audit Reports is Mere Technical Breach(09.01.2020)

Income Tax Appellate Tribunal, Bangalore has held that the delay in furnishing audit reports results only in the technical venial breach which does no.....

Tags : Income Tax Appellate Tribunal, Audit Reports



ITAT, Mumbai: Cess Paid Can be Deducted Under Head ‘Profits and Gains of Business or Profession’(22.12.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the cess paid can be deducted while computing income chargeable under the head “profits and.....

Tags : Income Tax Appellate Tribunal, Cess Paid



ITAT, Mumbai: No Tax on Compensation Received for Loss of Trees(23.12.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that no Tax is applicable on Compensation received for loss of Trees.

Tags : Income Tax Appellate Tribunal, Compensation for Loss of Trees



Madras HC Rejects Plea For Filing I-T Return Sans Aadhaar Number, Enrolment ID(10.11.2017)

Madras High Court has refused to allow filing of Income Tax return without producing Aadhaar number and enrolment ID.

Tags : Madras High Court, Income Tax



Delhi HC Strikes Down Parts Of ICDS Provisions And CBDT Notifications(13.11.2017)

Delhi High Court has struck down certain portions of Parts I, II, III, IV, VI, VII and VII of Income Computation and Disclosure Standards (ICDS) and c.....

Tags : Delhi High Court, Income Computation and Disclosure Standards



Insolvency can be Triggered Against Unincorporated Joint Ventures: NCLAT(03.12.2018)

NCLAT has held in a case related to AMB Infrabuild Pvt. Ltd. and Earth Galleria Pvt. Ltd. that insolvency can be triggered against an unincorporated j.....

Tags : NCLAT, Unincorporated Joint Ventures, Insolvency



No Service Tax on Sale/Purchase of Property on a Principal to Principal Basis: CESTAT(07.12.2018)

Customs, Excise and Service Tax AppellateTribunal (CESTAT), Delhi has held that there cannot be any service tax liability under the category “Real Est.....

Tags : CESTAT, Service Tax, Sale/Purchase of Property on a Principal to Principal Basis



CBDT Extends Deadline for Filing of Income Tax Returns for J&K and Ladakh(26.12.2019)

Central Board of Direct Taxes has again extended the deadline for filing of all kinds of income tax returns to January 31, 2020, in the newly-created .....

Tags : CBDT, Income Tax Returns



ITAT, Delhi Deletes Adjustments of TPO on AMP Expenses of Ray-Ban(27.01.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has given relief to Ray-Ban deleting the adjustments made by the Transfer Pricing Officer (TPO) on account.....

Tags : Income Tax Appellate Tribunal, Ray-Ban



Allahabad HC Refuses to Quash Charges Against Commissioner of Income Tax(18.11.2020)

Allahabad High Court has refused to quash charges in respect of offences of cheating, criminal conspiracy and Corruption against Commissioner of Incom.....

Tags : Allahabad High Court, Commissioner of Income Tax



ITAT, Mumbai: Mobilisation Fees Not ‘Royalty’ Under India-Singapore Tax Treaty(18.11.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the mobilisation fees received from the time charter of the vessel would not fall within de.....

Tags : Income Tax Appellate Tribunal, Mobilisation Fees



ITAT, Bangalore: Deduction Cannot be Denied on Non-Completion of Residential House(19.11.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the deduction under Section 54 of the Income Tax Act, 1961 cannot be denied for non-comp.....

Tags : Income Tax Appellate Tribunal, Non-Completion of Residential House



ITAT, Ahmedabad: Transaction Not Colorable Because Assessee Claimed Depreciation on Goodwill(19.11.2020)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that the transaction cannot be regarded as a colorable device merely on the basis that assess.....

Tags : Income Tax Appellate Tribunal, Depreciation on Goodwill



ITAT, Bangalore: EY Entitled to Deduction Under Section 10AA on Voluntary Transfer Pricing Adjustment(25.11.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the assessee is entitled to deduction under Section 10AA of the Income Tax Act, 1961 on .....

Tags : Income Tax Appellate Tribunal, EY, Voluntary Transfer Pricing Adjustment



ITAT, Mumbai: Company Granting Bonus to Employees or Shareholder Entitled to Tax Benefits(25.11.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the company which is granting bonuses to its employees or shareholders is entitled to tax b.....

Tags : Income Tax Appellate Tribunal, Company Granting Bonus



Income Tax Appellate Tribunal (ITAT), Bangalore Confirms Disallowance Against Nike India(25.11.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has confirmed disallowance against Nike India, stating that the burden of expenditure for new product .....

Tags : Income Tax Appellate Tribunal, Nike India



Telangana HC: Principles of Natural Justice to be Read Into Master Circular Issued by RBI(31.12.2020)

Telangana High Court has held that the principles of natural justice have to be read into the Master Circular issued by the Reserve Bank of India on t.....

Tags : Telangana High Court, RBI Master Circular, Principles of Natural Justice



Ministry of Finance Extends Due Date for Filing of Income Tax Returns(31.12.2020)

Ministry of Finance has extended the due date for filing of income tax returns for the financial year 2019-2020 (AY 2020-21) as follows: (A) The due d.....

Tags : Ministry of Finance, Due Date of Filing Income Tax Returns



Ministry of Finance Extends Due Date for Filing of Income Tax Returns(31.12.2020)

Ministry of Finance has extended the due date for filing of income tax returns for the financial year 2019-2020 (AY 2020-21) till 10th January, 2021. .....

Tags : Ministry of Finance, Due Date of Filing Income Tax Returns



Delhi HC: Failure to Comply with Section 144C of Income Tax Act Invalidates Assessment Order(04.01.2021)

Delhi High Court has held that the failure of the assessing officer to adhere to the "mandatory requirement" of Section 144C (1) of the Income Tax Act.....

Tags : Delhi High Court, Failure to Comply with Section 144C of Income Tax Act



ITAT, Bangalore: Registration has to be Granted if No Evidence of Malafide Activities(05.01.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has allowed the application for the registration holding that the registration has to be granted if th.....

Tags : Income Tax Appellate Tribunal, Registration of Trust



ITAT, Delhi: License Fee Paid to Indian Railway Allowable as Depreciation(18.02.2020)

Income Tax Appellate Tribunal (ITAT), Delhi has held that depreciation under section 32 of the Income Tax Act, 1961 is allowable in respect of the amo.....

Tags : Income Tax Appellate Tribunal, License Fee Paid to Indian Railway



ITAT, Ahmedabad Imposes Penalty on Assessee for Delay in Filing Appeal and Non-Appearance(18.02.2020)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has imposed a penalty of Rs. 5000 on an Assessee on the grounds of a delay of 358 days in filing an ap.....

Tags : Income Tax Appellate Tribunal, Penalty on Assessee for Delay in Filing Appeal



ITAT, Pune: License Fees for Use of Industrial Parks Assessable as ‘Business Income’(18.02.2020)

Income Tax Appellate Tribunal (ITAT), Pune has recently held that the license fees received for the use of Industrial Parks should be assessed as busi.....

Tags : Income Tax Appellate Tribunal, License Fees for Use of Industrial Parks



ITAT, Bangalore: Belated Payment of Service Tax Collected Can be Allowed on Actual Payment(18.02.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that belated paid service tax collected to Government exchequer can be allowed on actual paym.....

Tags : Income Tax Appellate Tribunal, Belated Payment of Service Tax



ITAT, Mumbai: Leaseholder’s Expenses Not Capital Expenditure(23.02.2021)

Income Tax Appellate Tribunal (ITAT) Mumbai, has ruled that lease-holder’s expenses are not liable to be considered as capital expenditure for the pur.....

Tags : Income Tax Appellate Tribunal, Leaseholder’s Expenses



Kerala HC: Inclusion of Land in CRZ-III Would Not Bar Inclusion of Land as Per CRZ Regulation 2019(23.02.2021)

Kerala High Court has observed that the inclusion of a land in Coastal Regulation Zone-III in the Coastal Zone Management Plan (CZMP) prepared as per .....

Tags : Kerala High Court, Inclusion of Land in CRZ-III



Supreme Court Rules, Income from Palace Rents Not Taxable Under IT Law(06.12.2016)

Supreme Court has held that income earned by erstwhile rulers of a princely state or their heirs by renting out a portion of residential palace was no.....

Tags : Supreme Court, erstwhile rulers, princely state, residential palace, Income Tax



Bhopal Court Hears Vyapam Case Till 2 am, Issues Arrest Warrants Against 200 Accused(29.11.2017)

Bhopal Court Hears Vyapam Case Till 2 am, Issues Arrest Warrants Against 200 Accused

Tags : The 1500-page CBI chargesheet had named 592 accused in connection with 2012 Pre-medical Test scam. The accused included officials of four private medical colleges involved in selling seats for profits and several government officials.



Delhi HC: Remand Power Not to be Exercised by ITAT in Routine Matter(19.01.2021)

Delhi High Court has held that the remand is not a power to be exercised by Income Tax Appellate Tribunal in a routine manner but to be used sparingly.....

Tags : Delhi High Court, Income Tax Appellate Tribunal



AAR, Tamil Nadu: Applicant Can Adopt Methods to Arrive at Value of Supply to Distinct Persons(20.01.2021)

Authority of Advance Ruling (AAR), Tamil Nadu has ruled that the applicant can adopt methods provided under Rule 28 read with Section 15 of the Centra.....

Tags : Authority of Advance Ruling, Value of Supply to Distinct Persons



AAR, Tamil Nadu: Applicant Can Adopt Methods to Arrive at Value of Supply to Distinct Persons(20.01.2021)

Authority of Advance Ruling (AAR), Tamil Nadu has ruled that the applicant can adopt one of three methods to arrive at the value in respect of supply .....

Tags : Authority of Advance Ruling, Value of Supply to Distinct Persons



ITAT Delhi: Rent from Fit-Out Hire Charges Will Fall Under Business Income(13.06.2019)

Income Tax Appellate Tribunal (ITAT), Delhi has noted that the income received from Fit-out Hire Charges would constitute “business income” under the .....

Tags : ITAT Delhi, Business Income



Kerala High Court Rejects Income Tax Officers Request to Nullify Misconduct Proceedings(18.06.2019)

Kerala High Court has rejected a petition by the Commissioner of Income Tax (Appeals) wherein the officer pleaded to vacate the order of the Ernakulam.....

Tags : Kerala High Court, Income Tax Officers



ITAT, Delhi Allows Hero FinCorp to Delete Disallowance of Expenses Against Leased Rent(08.03.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has provided a relief to Hero FinCorp by deleting the disallowance of expenses claimed against lease rent.

Tags : Income Tax Appellate Tribunal, Hero FinCorp



ITAT, Chennai Directs AO to Allow Expenditure at Head Office Against Interest Income(08.03.2021)

Income Tax Appellate Tribunal (ITAT), Chennai has directed the Assessing Officer to allow expenditure incurred at Head Office except for director sala.....

Tags : Income Tax Appellate Tribunal, Expenditure at Head Office



Karnataka HC Quashes Private Complaint on 2010 Mangaluru Air Crash Incident(08.03.2021)

Karnataka High Court has quashed a private complaint and cognisance of offences taken by a trial Court in 2013 against the Airports Authority of India.....

Tags : Karnataka High Court, 2010 Mangaluru Air Crash Incident



Central Information Commission Slams Income Tax ‘Informer’ for Using RTI to Earn Incentives(03.10.2016)

Central Information Commission has admonished a Right to Information (RTI) applicant who was allegedly seeking massive information from the Income Tax.....

Tags : Central Information Commission, RTI, Income Tax Department



#Income Tax: Returns Can Now Be Filed Till August 5, Deadline Extended(31.07.2017)

The last date for filing of Income Tax Returns (ITRs) for the financial year 2016-17 has been extended to August 5.

Tags : income tax returns



#Income Tax: PAN-Aadhaar Linkage Can be Done till Aug 31, Not Mandatory for Filing Return Now(01.08.2017)

Central Board of Direct Taxes (CBDT) has clarified that PAN-Aadhaar linkage can be done till August 31st, 2017 and it’s not mandatory for Filing Incom.....

Tags : Income Tax



Bombay High Court: No Addition Can be Made in Respect of Unutilized Cenvat Credit to Closing Stock(04.08.2017)

Bombay High Court, while upholding Tribunal order deleting addition in respect of unutilized Cenvat credit to closing stock, has held that irrespectiv.....

Tags : Bombay High Court, Income Tax Act



Bombay HC: Income from Turnkey- Contract of Plantation Would Not Constitute ‘Agricultural Income’(09.08.2017)

Bombay High Court has held that income from turnkey- contract of plantation would not constitute ‘agricultural income’ for the purpose of section 2(1A.....

Tags : Bombay High Court, Agricultural Income



No Penalty Since Assessee Surrenders Income During Assessment Proceedings: ITAT(18.09.2018)

Delhi Bench of ITAT has held that penalty under Section 271AAA of Income Tax Act, 1961 cannot be levied if assessee surrendered the income during the .....

Tags : ITAT, Income Tax, Surrender of income



ITAT, Kolkata Allows Long-Term Capital Loss from Sale of Government Securities(23.03.2021)

Income Tax Appellate Tribunal (ITAT), Kolkata has allowed the Long-Term Capital Loss arising from the sale of Government Securities after applying the.....

Tags : Income Tax Appellate Tribunal, Long-Term Capital Loss from Sale of Government Securities



Union Budget 2020-201: Govt Committed to Double Farmers’ Income by 2022(01.02.2020)

Finance Minister noted while presenting the Union Budget 2020-2021 that the Central Government is committed to doubling farmers’ income by 2022 and wi.....

Tags : Union Budget 2020-2021, Farmers' Income



#Union Budget 2020-2021: Simplied Personal Income Tax Regime Introduced(01.02.2020)

Central Government has introduced a new simplified personal income tax regime. The same is as follows (i)Individual to pay tax 10% for income Rs. 5 to.....

Tags : Union Budget, Personal Income Tax Regime



ITAT, Bangalore: Capital Gain Deduction Allowable for House Purchased Outside India(05.02.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has allowed a claim of deduction under Section 54/54F of the Income Tax Act, 1961 on a house purchased.....

Tags : Income Tax Appellate Tribunal, Capital Gain Deduction on House Purchased Outside India



ITAT, Allahabad: No Tax Applicable on Interest Income Linked to Power Plant(04.02.2021)

Income Tax Appellate Tribunal (ITAT), Allahabad has held that the no tax is applicable on the interest income linked with the power plant set up as it.....

Tags : Income Tax Appellate Tribunal, Interest Income Linked to Power Plant



ITAT, Bangalore: Assessee Living in Joint Family, Gold Credit to be Given to All Members(05.02.2021)

Income Tax Appellate Tribunal, Bangalore has ruled that when the assessee is living in joint family, gold credit provided by the Commissioner of Incom.....

Tags : Income Tax Appellate Tribunal, Gold Credit



SC: Cite Particular Incidents of Authoritarian Extra(12.02.2021)

Supreme Court has requested a gaggle of younger legal professionals, who highlighted the ‘indiscriminate’ arrests of “tens of thousands of petty trade.....

Tags : SC, Incidents



IT Law Doesn’t Bar Partners to Draw Remuneration from More than One Firms: ITAT(15.04.2019)

Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that the income tax law does not prohibit a partner from drawing remuneration/ salary fro.....

Tags : Income Tax Appellate Tribunal, Remuneration, Partnership Firm



Bombay HC Issues Notice in Plea Challenging Distinction Between Accused Under IPC & Special Acts(06.04.2020)

Bombay High Court has issued notice to the State of Maharashtra, Maharashtra Prison Department, Director General of Prisons and the Undertrial Review .....

Tags : Bombay High Court, Distinction Between Accused Under IPC & Special Acts



Bombay HC Issues Notice in Plea Challenging Distinction Between Accused Under IPC & Special Acts(06.04.2020)

Bombay High Court has issued notice to the State of Maharashtra, Maharashtra Prison Department, Director General of Prisons and the Undertrial Review .....

Tags : Bombay High Court, Distinction Between Accused Under IPC & Special Acts



SC Allows NDTV's Appeal to Quash Income Tax Re-Assessment Notice(06.04.2020)

Supreme Court has allowed the appeal of New Delhi Television Ltd (NDTV) to quash the notice issued by the Income Tax Department seeking to re-open its.....

Tags : Supreme Court, New Delhi Television Ltd, Income Tax Re-Assessment Notice



ITAT, Delhi: Actual Receipt of Money by Assessee is Mandatory for Unexplained Cash Credit(29.04.2021)

Income Tax Appellate Tribunal (ITAT), Delhi, while providing the relief to the Zexus Air Services Pvt. Ltd., has ruled that actual receipt of money by.....

Tags : Income Tax Appellate Tribunal, Unexplained Cash Credit



ITAT, Pune: Income Tax Act, 1961 Has No Provisions to Condone Delay in Filing Misc. Applications(25.03.2020)

Income Tax Appellate Tribunal (ITAT), Pune, while dismissing a bunch of miscellaneous applications, has held that the Income Tax Act, 1961 does not ha.....

Tags : Income Tax Appellate Tribunal, Condonation of Delay in Filing Miscellaneous Applications.



Gujarat HC Rejects Challenge to Levy of Increased Enrollment Fee by Bar Council(27.03.2020)

Gujarat High Court has dismissed a Writ Petition which challenged the right of the Bar Council of India and Bar Council of Gujarat to levy as well as .....

Tags : Gujarat High Court, Increased Enrollment Fee by Bar Council



ITAT, Mumbai: Activities Undertaken by Builders Association Not Trade, Commerce or Business(16.03.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has allowed the exemption under section 11(1)(a) of the Income Tax Act, 1961 as activities undertaken by .....

Tags : Income Tax Appellate Tribunal, Activities Undertaken by Builders Association



Delhi HC Seeks Centre's Response on Petition for Inclusion of Severe Mental Illness as Comorbidity(16.03.2021)

Delhi High Court has sought the Centre's response on a petition seeking directions for the inclusion of mental illnesses in the classification of como.....

Tags : Delhi High Court, Inclusion of Severe Mental Illness as Comorbidity



Delhi HC Directs MEA in Case Where Indian Man Incorrectly Buried in Saudi Arabia(16.03.2021)

Delhi High Court has directed the Deputy Secretary, Ministry of External Affairs (MEA) to appear online before it in a case where an Indian man upon h.....

Tags : Delhi High Court, Incorrect Burial of Indian Man



ITAT, Delhi: Notice u/s 143(2) to be Served within 6 Months(18.03.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has ruled that the notice issued under section 143(2) of the Income tax Act, 1961 has to be served upon th.....

Tags : Income Tax Appellate Tribunal, Notice u/s 143(2)



ITAT, Bangalore Deletes Penalty on TDS Default by SBI on LTC Payments(02.03.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has deleted the penalty proceedings initiated by the tax department against the State bank of India ( .....

Tags : Income Tax Appellate Tribunal, Penalty on TDS Default by SBI



CBDT Notifies Scrapping of Certain Forms for Income Tax Deductions(05.04.2021)

Central Board of Direct Taxes (CBDT) has notified that Form 10G, 56, 3CF-I, 3CF-II and 3CF-III under the Income Tax Act, 1961 ceased to be effective o.....

Tags : Central Board of Direct Taxes, Forms for Income Tax Deductions



Gujarat HC Sets Aside Single Judge Order Restraining Inquiry Commission from Submitting Report(05.04.2021)

Gujarat High Court has set aside a Single Bench order restraining a State-appointed Inquiry Commission from pronouncing its report in the unfortunate .....

Tags : Gujarat High Court, Rajkot Hospital Fire Incident



ITAT, Mumbai: Incidental Activities of Trust of Charitable Purpose Not Commercial Activities(06.04.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that where the purpose of the trust is relief to poor, education, or medical relief, the other a.....

Tags : Income Tax Appellate Tribunal, Incidental Activities of Trust of Charitable Purpose



Delhi HC Directs for Alternate Remedies to Family of a Man Incorrectly Buried in Saudi Arabia(06.04.2021)

Delhi High Court has directed the Ministry of External Affairs to expedite and suggest alternate legal remedies for the process of exhumation and tran.....

Tags : Delhi High Court, Man Incorrectly Buried in Saudi Arabia



ITAT, Pune: Addition for Unexplained Cash Credit Can’t be Merely on Suspicion(12.03.2020)

Income Tax Appellate Tribunal (ITAT), Pune has held that additions for unexplained cash credits under Section 68 of the Income Tax Act, 1961 cannot be.....

Tags : Income Tax Appellate Tribunal, Unexplained Cash Credit



ITAT, Delhi: No Income Tax on Compensation Received on Compulsory Acquisition of Agricultural Land(12.03.2020)

Income Tax Appellate Tribunal (ITAT), Delhi has held that income tax cannot be levied on the compensation or enhanced compensation received on compuls.....

Tags : Income Tax Appellate Tribunal, Compensation on Compulsory Acquisition of Agricultural Land



ITAT, Cochin Denies Tax Exemption to Trust on Micro Finance Activity(12.03.2020)

Income Tax Appellate Tribunal (ITAT), Cochin has held that micro finance activity cannot be treated as charitable in nature for the purpose of allowin.....

Tags : Income Tax Appellate Tribunal, Micro Finance Activity



P&H HC Dismisses Plea Seeking Action Against Prince Harry for Breach of Promise to Marry(13.04.2021)

Punjab and Haryana High Court has dismissed a petition filed by a Lawyer seeking action against Prince Harry Middleton son of Prince Charles Middleton.....

Tags : Punjab and Haryana High Court, Prince Harry, Breach of Promise to Marry



ITAT, Delhi: No Tax on Compensation for Acquisition of Agricultural Land by State Govt(15.04.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that no tax shall be payable on compensation for acquisition of agricultural land by the state go.....

Tags : Income Tax Appellate Tribunal, Compensation for Acquisition of Agricultural Land



ITAT, Ahmedabad: Shares at Face Value by Amalgamated Company Not Covered Under Income Tax Act(16.04.2021)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has ruled that the Shares at ‘face value’ by the amalgamated company to shareholders in pursuance of s.....

Tags : Income Tax Appellate Tribunal, Shares at Face Value by Amalgamated Company



Madras High Court: Depreciation Allowable on Non-Competent Fee and Brand Equity(14.08.2018)

Madras High Court has held that depreciation under Section 32 of Income Tax Act, 1961 is allowable on the non-competent fee and brand equity.

Tags : Madras High Court, Income Tax



No Tax Benefit to Industry If It Has No Control Over Manufacturing Process: Bombay HC(14.08.2018)

Bombay High Court has held that benefit of deduction under section 80-IB of Income Tax Act, 1961 cannot be given to an industry if it does not have an.....

Tags : Bombay High Court, Income Tax



ITAT, Jaipur: Defect in Notice would invalidate Penalty Proceedings(26.06.2019)

Income Tax Appellate Tribunal (ITAT), Jaipur Bench has held that the defect in the notice issued by the income tax department would nullify the entire.....

Tags : Income Tax Appellate Tribunal, Invalidation of penalty proceedings



Finance Ministry Issues Directions to Clear Pending Income Tax Refunds(09.04.2020)

Finance Ministry has unveiled a raft of measures to ensure availability of cash in the system, including speeding up of held-up refunds worth Rs 18,00.....

Tags : Finance Ministry, Pending Income Tax Refunds



Delhi HC Decides to Increase Strength of Benches Hearing Urgent Matters(20.04.2020)

Delhi High Court has increased the number of Benches from one Division Bench to two Division Benches and from two Single Benches to four Single Benche.....

Tags : Delhi High Court, Increase in Benches



ITAT, Pune: Reimbursement on Welfare Expenses Incurred by Multinationals in India Not Taxable(18.05.2021)

Income Tax Appellate Tribunal (ITAT), Pune has said that reimbursement on welfare expenses incurred by multinationals in India shall not be taxable if.....

Tags : Income Tax Appellate Tribunal, Reimbursement on Welfare Expenses Incurred by Multinationals in India



ITAT, Mumbai: Uber India Not Liable to Deduct TDS for Payments Made to Drivers(09.03.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that Uber India is not liable to deduct tax at source (TDS) for payments made to the drivers, po.....

Tags : Income Tax Appellate Tribunal, Uber India



Madras High Court Directs Election Commission of India to Allot Distinctive Symbols(09.03.2021)

Madras High Court has directed the Election Commission of India (ECI) to allot distinctive symbols, as far as possible, to the candidates on the fray .....

Tags : Madras High Court, Election Commission of India, Allot Distinctive Symbols



ITAT, Bangalore: Income of Assessee to be Estimated at 8% of Gross Turnover(10.03.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has ruled that the income of the assessee be estimated at 8% of the gross turnover if books of account.....

Tags : Income Tax Appellate Tribunal, Income of Assessee



CBDT Notifies Amendment to Rule 10V for Computation of Remuneration Payable to Fund Managers(11.03.2021)

Central Board of Direct Taxes (CBDT) has notified Amendment to Rule 10V for Computation of Remuneration payable to Fund Managers. The Board notified t.....

Tags : Central Board of Direct Taxes, Income-tax (2nd Amendment) Rules, 2021



ITAT, Mumbai Denies Refund of Foreign Taxes Paid by Bank of India(12.03.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has denied in a recent order a refund in respect of foreign taxes aggregating to Rs 182.6 crore paid by B.....

Tags : Income Tax Appellate Tribunal, Bank of India



Penalty Notice u/s 274 Should Specify Grounds: ITAT, Delhi(25.06.2018)

Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that there is no justification imposing the penalty without mentioning the grounds specif.....

Tags : Income Tax, Notice



Income Tax Re-Assessment Notice to a Dead Person is Invalid: Bombay HC(23.04.2019)

Bombay High Court has held that income tax notice sent in the name of a dead person is invalid though the information regarding the death was not give.....

Tags : Bombay High Court, Income Tax Re-Assessment Notice, Dead Person



Bombay HC to CBDT: Reconsider Its Proposal to Incentivise CIT (A) to Enhance Assessments(25.04.2019)

Bombay High Court has asked Central Board of Direct Taxes ( CBDT ) to reconsider its decision to incentivize the Commissioner of Income Tax (Appeals) .....

Tags : Central Board of Direct Taxes , Bombay High Court, Commissioner of Income Tax (Appeals)



Legal Principles Governing Suspension of Conviction Can't be Applied to Suspend Sentence: SC(30.04.2019)

Supreme Court has set aside a High Court judgment which applied principles governing suspension of conviction to reject a plea seeking suspension of e.....

Tags : Supreme Court, Legal Principles Governing Suspension



SC Upholds Constitutional Validity of Section 43B(f) of Income Tax Act(27.04.2020)

Supreme Court has upheld the constitutional validity of clause (f) of Section 43B of the Income Tax Act, 1961, reversing the judgment of the Calcutta .....

Tags : Supreme Court, Constitutional Validity of Section 43B(f) of Income Tax Act



SC: No Income Tax Liability for UAE Exchange in India(27.04.2020)

Supreme Court has ruled that no income tax can be levied on its liaison offices in India in respect of the principal business carried by it in United .....

Tags : Supreme Court, Income Tax Liability for UAE Exchange



ITAT, Hyderabad: Deduction Granted in First Year Cannot be Denied in Subsequent Years(11.05.2021)

Income Tax Appellate Tribunal (ITAT), Hyderabad has ruled that the deduction under section 80IA(4) of the Income Tax Act, 1961 granted in first year c.....

Tags : Income Tax Appellate Tribunal, Deduction Granted in First Year



Bombay HC: Contraband Found During Income Tax Search Does Not Amount to Seizure(25.05.2020)

Bombay High Court has held that when officers stumble upon a contraband during an income tax raid, it does not amount to 'seizure' under the Narcotics.....

Tags : Bombay High Court, Contraband Found During Income Tax Raid



Delhi HC Allows Shifting of Foreigners in Tablighi Jamaat Incident to Alternative Accommodation(29.05.2020)

Delhi High Court has allowed the plea for release of foreign nationals related to Tablighi Jamaat event and shifting them to alternate accommodations.

Tags : Delhi High Court, Tablighi Jamaat Incident, Alternative Accommodation



Manipur HC: Principle of Non Refoulement Can Prima Facie Be Read into Article 21(22.04.2021)

Manipur High Court has observed that the principle of non Refoulement can prima facie be read within the ambit of Article 21 of the Constitution of In.....

Tags : Manipur High Court, Principle of Non-Refoulement



Madras HC: ITSC Cannot Force Income Tax Dept to Settle Disputes with Assessees(26.04.2021)

Madras High Court has ruled that Income Tax Settlement Commission (ITSC) cannot force the Income Tax Department to settle disputes with assessees if t.....

Tags : Madras High Court, Income Tax Settlement Commission



Kerala HC Expresses Dismay at Delays by Central Registration Centre in Allowing Incorporation of LLP(26.04.2021)

Kerala High Court has expressed dismay at the delays and hardships brought on by the Ministry of Corporate Affairs' Central Registration System in pro.....

Tags : Kerala High Court, Incorporation of LLP



Bombay HC: All Persons Wearing Masks Incorrectly Shall be Booked Under Relevant Offences(27.04.2021)

Bombay High Court has come down heavily on lockdown violators, including people not wearing masks properly, and has asked the police in 11 Marathwada .....

Tags : Bombay High Court, All Persons Wearing Masks Incorrectly



Government Prescribes Procedure to Furnish Form 67 to Claim Foreign Tax Credit(26.09.2017)

Central Government has prescribed the procedure to be followed to furnish Form 67 to claim foreign tax credit under the provisions of the Income Tax A.....

Tags : foreign tax credit, Income Tax Act, 1961



ITAT: Interest on Enhanced Compensation Recd. under LA Act Not Subject to Capital Gain Tax(28.09.2017)

Income Tax Appellate Tribunal (ITAT) has held that the interest received on enhanced compensation for land compulsorily acquired under the Land Acquis.....

Tags : Income Tax Appellate Tribunal, Capital Gain, Land Acquisition Act



Government Notifies E-Assessment Scheme 2019 for Faceless Scrutiny of Income Tax Return(16.09.2019)

Central Government has notified that the E-assessment Scheme, 2019 that aims to completely eliminate the interactions between the tax authorities and .....

Tags : E-Assessment Scheme 2019, Income Tax Return



ITAT, Delhi Allows Exemption to Association of State Road Transport Undertaking(29.09.2020)

Income Tax Appellate Tribunal (ITAT), New Delhi has allowed the exemption under Section 11 and 12 of the Income Tax Act, 1961 to Association of State .....

Tags : Income Tax Appellate Tribunal, Association of State Road Transport Undertaking



#Major Changes Implementing From Today: New Tax Collected at Source (TCS) Regime(01.10.2020)

Income Tax Department has issued guidelines for applicability of Tax Collected at Source (TCS) provision which requires an e-commerce operator to dedu.....

Tags : Income Tax Department, Tax Colleced at Source, E-Commerce Operator



CBDT Notifies Constitution of Special Court for Income Tax and Black Money Cases(06.08.2021)

Central Board of Direct Taxes (CBDT) has notified the constitution of special courts under section 280A(1) of the Income Tax Act, 1961 and section 84 .....

Tags : Central Board of Direct Taxes, Special Court for Income Tax and Black Money Cases



Bombay HC Slams I-T Department over Wrong Tax Demand(17.10.2016)

Bombay HC has pulled up Income Tax Department after it found that department had slapped a notice on an individual even though the search and seizure .....

Tags : Bombay HC, Income Tax,



Company can Claim Income Tax Credits on Maintenance of Guest House, Training Hostels: AAR(16.10.2018)

Authority for Advance Ruling, Odisha has granted a ruling on entitlement to take credit of tax paid on various goods and services used for maintenance.....

Tags : AAR, Income Tax Credits



Bombay High Court: Interest from Motor Accident Compensation not Subject to Income Tax(12.08.2019)

Bombay High Court has ruled that the income tax should not have been deducted from the interest on the motor accident compensation awarded by the cour.....

Tags : Bombay High Court, Income Tax



P & H HC Stays Haryana Govt. Notifications Including OBC Community in SC Category(13.08.2020)

Punjab and Haryana High Court has stayed two notifications of the Government of Haryana including the OBC 'Gadaria' community as Scheduled Caste, noti.....

Tags : Punjab and Haryana High Court, Notifications Including OBC Community in SC Category



Delhi HC Disposes of Plea Seeking Inclusion of Orphans in EWS Quota(20.08.2020)

Delhi High Court has disposed of the plea seeking inclusion of orphans in economically weaker section (EWS) quota, observing that the Delhi Government.....

Tags : Delhi High Court, Inclusion of Orphans in EWS Quota



Rajasthan HC Directs to Conduct Training of Principal Magistrates in JJ Boards(15.07.2021)

Rajasthan High Court has directed Child Rights Department of the State Government to ensure that a training programme is conducted for Principal Magis.....

Tags : Rajasthan High Court, Training of Principal Magistrates in JJ Boards



ITAT, Mumbai Confirms Addition of Undisclosed Income of Renu T. Tharani(20.07.2020)

Income Tax Appellate Tribunal, Mumbai has allowed the sum of Rs 196 Crores held by HSBC Private Bank, Switzerland, in the name of Tharani Family Trust.....

Tags : Income Tax Appellate Tribunal, Renu T. Tharani



P&H HC: Inclusion of Biological Mother's Name in Passport Would Not Cause Any Prejudice(21.07.2020)

Punjab and Haryana High Court has directed the Regional Passport Office to allow an applicant's request for inclusion of her biological mother's name .....

Tags : Punjab and Haryana High Court, Inclusion of Biological Mother's Name in Passport



Kerala High Court Stays Lakshadweep Notification Increasing Stamp Duty(02.07.2021)

Kerala High Court has stayed all the proceedings pursuant to the Notification issued by the Lakshadweep Administration revising the existing stamp dut.....

Tags : Kerala High Court, Lakshadweep Notification Increasing Stamp Duty



ITAT, Mumbai Grants Relief to Red Hat India Pvt Ltd as AO Did Not Follow DRP’s Directions(05.07.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that adjustment relating to International Transactions pertaining to the provision of software .....

Tags : Income Tax Appellate Tribunal, Red Hat India Private Limited



CBDT Extends Electronic Filing of Income Tax Forms 15CA / 15CB(06.07.2021)

Central Board of Direct Taxes (CBDT) has extended the electronic filing of Income Tax Forms 15CA/15CB to 15th July, 2021. Taxpayers can submit the sai.....

Tags : Central Board of Direct Taxes, Electronic Filing of Income Tax Forms 15CA / 15CB



ITAT, Delhi Upholds Income Tax Addition of 3.9 Crores against Indian Franchise of KFC, Pizza Hut(07.07.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has upheld an Income Tax addition of Rs. 3,91,94,260 against Indian franchise of KFC, Pizza Hut, holding t.....

Tags : Income Tax Appellate Tribunal, KFC, Pizza Hut



ITAT: Rent From Hoardings Received by Co-operative Housing Society Taxable as ‘House Property Income’(04.10.2017)

In an important ruling, Ahmadabad bench of ITAT has held that the rent received by a Co-operative housing society by letting out space for hoardings a.....

Tags : ITAT, Income from House Property, Income Tax Act, 1961



Gujarat HC Upholds Vires of Provision Denying Deduction for Payments to Eligible Project or Scheme(04.10.2017)

Gujarat HC has upheld vires of Sub-section 7 of Section 35AC of Income Tax Act according to which benefit of deduction under Section 35AC of Act is no.....

Tags : Gujarat HC, Section 35AC of Income Tax Act



Madras HC: No Retrospective Effect for Customs Notification Increasing Duty on Peas(15.09.2020)

Madras High Court has held that there is no retrospective effect for the notification where the Government hiked the basic customs duty on peas and wh.....

Tags : Madras High Court, Increasing Duty on Peas



ITAT, Mumbai Deletes Tax Claim on Vodafone Rights Issue(15.09.2020)

Income Tax Appellate Tribunal, Mumbai has deleted the addition of Rs 795 Crores by tax authorities as income received from nine Mauritian entities tha.....

Tags : Income Tax Appellate Tribunal, Tax Claim on Vodafone Rights Issue



ITAT, Bangalore: No Restriction in Challenging Intimation Passed on Ratification of Mistake(16.09.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that there is no restriction in challenging intimation passed on ratification of mistake unde.....

Tags : Income Tax Appellate Tribunal, Ratification of Mistake



SC: Mere Over-ruling of Principles by Subsequent Judgment Will Not Dilute Binding Effect(18.08.2021)

Supreme Court has observed that mere over-ruling of the principles by a subsequent judgment will not dilute the binding effect of the decision on inte.....

Tags : Supreme Court, Over-ruling of Principles by Subsequent Judgment



Bombay HC Slams Assessing Officer For Holding Back Company’s Refund(21.10.2016)

Bombay HC has slammed an I-T Assessing Officer for holding back refunds without sufficient reasons of Group M India, world's largest Media Investment .....

Tags : Bombay HC, Income Tax, Assessing Officer, Group M India



CBDT Extends Due Date for Filing Income Tax Returns and Audit Reports to Oct 31st(09.10.2018)

Central Board of Direct Taxes (CBDT) has further extended due date for filing Income Tax Returns and Audit Reports to October 31st.

Tags : CBDT, Income Tax Returns



Supreme Court: Incriminatory Material as not Put to Accused Must be Eschewed(27.08.2019)

Supreme Court has clarified that the incriminating material that came in evidence is to be put to the accused during his examination under Section 313.....

Tags : Supreme Court, Incriminatory Material



ITAT Grants Conditional Stay to Vodafone Group in Transfer Pricing Case(20.07.2021)

Income Tax Appellate Tribunal (ITAT) has granted a conditional stay to a Vodafone Group Plc entity Vodafone India Services Pvt Ltd (VISPL) in a transf.....

Tags : Income Tax Appellate Tribunal, Conditional Stay to Vodafone Group



ITAT, Bangalore: Income Tax Deduction Not Allowed to Professional Charges Paid for Acquisition(26.07.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the income tax deduction cannot be allowed to professional and consultancy charges paid .....

Tags : Income Tax Appellate Tribunal, Professional Charges Paid for Acquisition



Delhi High Court Seeks Reply on Pleas for Increasing Crematoriums/ Burial Grounds(28.07.2021)

Delhi High Court has directed the concerned authorities to file their replies to a batch of petitions seeking directions for dignified burial/crematio.....

Tags : Delhi High Court, Increasing Crematoriums/ Burial Grounds



SC: Deduction Under Section 80-IA Income Tax Act Not Restricted to 'Business Income' Only(29.04.2021)

Supreme Court has held that the scope of sub-section (5) of Section 80- IA of the Income Tax Act, 1961 is limited to determination of quantum of deduc.....

Tags : Supreme Court, Deduction Under Section 80-IA Income Tax Act



ITAT, Hyderabad: Property Ceases to be Business Asset When No Depreciation Claimed(30.04.2021)

Income Tax Appellate Tribunal (ITAT), Hyderabad has ruled that Property ceases to be a business asset when no depreciation is claimed and profit and g.....

Tags : Income Tax Appellate Tribunal, Property



Karnataka HC Says It Will Issue Directions to Centre on Increasing Oxygen Supply(05.05.2021)

Karnataka High Court has said it will issue directions to the Central Government to immediately increase the quota of Liquid Medical Oxygen being supp.....

Tags : Karnataka High Court, Increasing Oxygen Supply



CBDT Notifies Pension Fund Named CDPQ Fixed Income XI Inc. Eligible for Exemption(06.05.2021)

Central Board of Direct Taxes (CBDT) has notified a Pension Fund namely CDPQ Fixed Income XI Inc. as eligible for exemption of Income from dividends, .....

Tags : Central Board of Direct Taxes, CDPQ Fixed Income XI Inc.



SC Rejects Challenge to Karnataka HC Direction to Increase Daily Quota of Liquid Medical Oxygen(07.05.2021)

Supreme Court has rejected the challenge made by the Central Government against the direction issued by Karnataka High Court to increase the daily quo.....

Tags : Supreme Court, Increase Daily Quota of Liquid Medical Oxygen



ITAT, Chandigarh: Tax Authorities Cannot Evade Responsibility to Collect Correct Taxes(10.05.2021)

Income Tax Appellate Tribunal (ITAT), Chandigarh has held that the Tax authorities cannot evade responsibility to ensure only correct and due taxes ar.....

Tags : Income Tax Appellate Tribunal, Responsibility to Collect Correct Taxes



Madras High Court Sets Aside Notices by I-T Dept Against Chidambaram, Family(03.01.2018)

Madras High Court has set aside a batch of notices issued by the Income Tax department against former Union Finance Minister P Chidambaram and his fam.....

Tags : Madras High Court, Income Tax



Income Tax Appellate Tribunal Revokes Penalty on Jamsetji Tata Trust(29.10.2020)

Income Tax Appellate Tribunal (ITAT) has revoked a Rs. 37 Crores penalty imposed on the Jamsetji Tata Trust by the income tax department, rejecting it.....

Tags : Income Tax Appellate Tribunal, Jamsetji Tata Trust



ITAT, Ahmedabad: Deduction Can be Claimed under R&D for Development of Mechanism(03.11.2020)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that the deduction can be claimed under Research and Development (R&D) for Amount incurred to.....

Tags : Income Tax Appellate Tribunal, Deduction under R&D



ITAT, Bangalore: Payment to Federation of Indian Mineral Industries Deductible Business Expenditure(24.08.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the payment made to the federation of Indian Mineral Industries is deductible from the b.....

Tags : Income Tax Appellate Tribunal, Payment to Federation of Indian Mineral Industries



Chhattisgarh HC: When Fundamental Rules Provide for Full Pay, ‘No Work No Pay’ Principle Won’t Apply(27.08.2021)

Chhattisgarh High Court has held that when the Fundamental Rules expressly provide for the grant of full pay and allowances on the exoneration of a Go.....

Tags : Chhattisgarh High Court, ‘No Work No Pay’ Principle



Delhi HC Asks Director General of Income Tax to Resolve Glitches in Income Tax Portal(31.08.2021)

Delhi High Court has asked the Director General of Income Tax to resolve the glitches in the income tax portal while observing that the new software s.....

Tags : Delhi High Court, Glitches in Income Tax Portal



SC: Calculation of Notional Income of Homemakers Based on Work, Labour and Sacrifices(06.01.2021)

Supreme Court has said the calculation of notional income of homemakers must be based on their work, labour and sacrifices, stating that it is in furt.....

Tags : Supreme Court, Calculation of Notional Income



ITAT, Bangalore: Losses on Account of Exchange Fluctuation Allowed as Deduction(06.01.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that losses on account of exchange fluctuation on forward contracts are allowable as a deduct.....

Tags : Income Tax Appellate Tribunal, Losses on Exchange Fluctuation



ITAT, Mumbai: Addition of Unabated Assessment Without Incriminating Seized Material Not Sustainable(07.01.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the addition of unabated assessment without incriminating seized material for assessment un.....

Tags : Income Tax Appellate Tribunal, Addition of Unabated Assessment



Madras HC Issues Notice on Plea Seeking GST Exemption for Incorporated Members' Clubs(07.01.2021)

Madras High Court has issued notice to Central Government and the Central Board of Direct Taxes in Petition seeking exemption for members' club in an .....

Tags : Madras High Court, GST Exemption for Incorporated Members' Clubs



Gujarat High Court Asks CBDT to Decide on Extension of Deadline by January 12(11.01.2021)

Gujarat High Court has directed Central Board of Direct Taxation (CBDT) to take a decision by 12th January, 2021 on the extension of filing of Income .....

Tags : Gujarat High Court, Extension of Deadline for Filing Income Tax Returns



SC: Fixing Rs 15,000 Per Annum As Notional Income For Non-Earning Members Not Reasonable(17.11.2021)

While hearing civil appeal preferred by appellant claimants aggrieved Jharkhand HC’s judgment, SC observed that despite repeated directions, Schedule-.....

Tags : Supreme court, Notional Income, Schedule II



Delhi HC Clarifies That Distinction Can’t be Made Between Prisoners on Parole by Jail or Court(16.10.2020)

Delhi High Court has clarified that no distinction can be created between prisoners who were released on parole by the jail authorities and those who .....

Tags : Delhi High Court, Distinction Between Prisoners on Parole



Delhi HC Issues Notices in Plea Challenging 'Faceless Income Tax Appeal Scheme 2020'(20.10.2020)

Delhi High Court has issued a notice to Union of India and Income Tax Department on a petition challenging the 'Faceless Income Tax Appeal Scheme, 202.....

Tags : Delhi High Court, Faceless Income Tax Appeal Scheme 2020



ITAT, Mumbai Deletes Income Tax Penalty Against Bollywood Actress Preity Zinta(08.09.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has deleted a penalty order imposed against the actress Preity Zinta. The department has imposed the pena.....

Tags : Income Tax Appellate Tribunal, Preity Zinta



Finance Ministry Extends Due Date for Filing of Income Tax Returns (ITRs) for FY 2020-2021(10.09.2021)

Central Board of Direct Taxes (CBDT) has extended the due date of filing of income-tax returns and various reports of audit for the Assessment Year 20.....

Tags : Central Board of Direct Taxes, Filing of Income Tax Returns



ITAT Delhi Upholds CIT (A) Order Disallowing Expenses in Relief to Tulip Star Hotel(13.09.2021)

Income Tax Appellate Tribunal (ITAT), Delhi, in a major relief to Tulip Star Hotel, has upheld an order of the Commissioner of Income Tax (Appeals) w.....

Tags : Income Tax Appellate Tribunal, Tulip Star Hotel



Madras HC Quashes Notification Increasing Speed Limit of Motor Vehicles on Expressways(15.09.2021)

Madras High Court has quashed a notification issued by the Centre on April 6, 2018 increasing the speed limit of motor vehicles to 120 km/hr on expres.....

Tags : Madras High Court, Notification Increasing Speed Limit of Motor Vehicles on Expressways



Government Amends Income Tax Rules, Direct Banks to Obtain PAN of A/cs, Except Savings(09.01.2017)

Income Tax rules have been amended to provide that banks shall obtain and link PAN or Form No 60 (where PAN is not available) in all existing bank acc.....

Tags : Income Tax rules, PAN, Form No 60



ITAT, Jodhpur: Genuineness of Cash in Hand Not Dependent on Time Gap Between Withdrawal and Deposit(20.09.2021)

Income Tax Appellate Tribunal (ITAT), Jodhpur has ruled that mere time gap between Withdrawals and Deposits cannot be a sole basis for suspecting genu.....

Tags : Income Tax Appellate Tribunal, Genuineness of Cash in Hand



SC: Amount of Income Tax Deductible or Collectible at Source Can be Reduced by Assessee(21.09.2021)

Supreme Court has held that the amount of income tax which is deductible or collectible at source can be reduced by the assessee while calculating adv.....

Tags : Supreme Court, Income Tax Deductible or Collectible at Source



CBDT Notifies Income Tax Exemption for BCI IRR India Holdings Inc. on Eligible Investment(22.09.2021)

Central Board of Direct Taxes (CBDT) has specified the BCI IRR India Holdings Inc. for the purposes of the said clause in respect of the eligible inve.....

Tags : Central Board of Direct Taxes, BCI IRR India Holdings Inc.



ITAT, Delhi: Western Union Cannot be Subject to Income Tax for Business Profit Earned in India(22.09.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Western Union cannot be subject to income tax for the business profit earned in India in.....

Tags : Income Tax Appellate Tribunal, Western Union



ITAT, Indore: Denial of Opportunity to Cross-Examine Parties Would be Violation of Natural Justice(23.09.2021)

Income Tax Appellate Tribunal (ITAT), Indore has held that the denial of opportunity to the assessee to conduct cross-examination of the parties who h.....

Tags : income Tax Appellate Tribunal, Violation of Natural Justice



Rajasthan HC Dismisses Plea Seeking Inclusion of Persons with Locomotive Disabilities under PWD Act(23.02.2021)

Rajasthan High Court has dismissed a writ petition seeking a direction to the State Government to include persons with locomotive disabilities and/or .....

Tags : Rajasthan High Court, Inclusion of Persons with Locomotive Disabilities



SC Upholds Constitutional Validity of Provisions of Gujarat Provincial Municipal Corporation Act(25.02.2021)

Supreme Court has upheld the constitutional validity of Section 5(3) (iii)(a) and Section 29A of the Gujarat Provincial Municipal Corporation Act, 194.....

Tags : Supreme Court, Gujarat Provincial Municipal Corporation Act, 1949



ITAT, Delhi Accepts Harish Salve’s Deduction of Foreign Scholarship as Business Expense(01.03.2021)

Income Tax Appellate Tribunal, New Delhi, has accepted the claim of Senior Advocate Harish Salve for deduction of the foreign scholarship given by him.....

Tags : Income Tax Appellate Tribunal, Harish Salve



CBDT Reduces Time Limit to Re-open Income Tax Assessments(07.12.2021)

Central Board of Direct Taxes (CBDT) has reduced the Time limit to re-open Income Tax assessment from 6 years to 3 years. The assessment can be reopen.....

Tags : Central Board of Direct Taxes, Re-open Income Tax Assessments



ITAT, Delhi: Addition Cannot be Made on Evidence of Third Party(09.12.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Addition cannot be made on evidence of third party without granting the cross-examinatio.....

Tags : Income Tax Appellate Tribunal, Addition on Evidence of Third Party



ITAT Allows Deduction on Expense of Education Cess in Relief to PC Jewellers(09.12.2021)

Income Tax Appellate Tribunal (ITAT) has granted the deduction on Expense of Education Cess as it does not fall under capital expense, personal expen.....

Tags : Income Tax Appellate Tribunal, Relief to PC Jewellers



ITAT, Chennai: Simpliciter Interest Received for Delay in Payment Not Income from Business(16.02.2021)

Income Tax Appellate Tribunal (ITAT), Chennai has held that simpliciter interest received for delay in payment cannot be considered as income generate.....

Tags : Income Tax Appellate Tribunal, Simpliciter Interest



ITAT, Bangalore Quashes Re-assessment Proceedings Against Nike India Pvt. Ltd.(17.02.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has quashed re-assessment proceedings against Nike India Pvt. Ltd, which was reopened more than 4 year.....

Tags : Income Tax Appellate Tribunal, Nike India Pvt. Ltd.



ITAT, Mumbai: Provisions of Book Profit Not Applicable When No Income Tax Payable(19.02.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that the provisions relating to Book Profit will not be applicable when there is no income tax .....

Tags : Income Tax Appellate Tribunal, Book Profit



ITAT, Bangalore: Assessee in Principle Entitled to Claim Deduction of Gratuity(22.02.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has ruled that assessee in principle is entitled to claim a deduction of gratuity paid before the appe.....

Tags : Income Tax Appellate Tribunal, Deduction of Gratuity



ITAT, Mumbai Allows Payment by Tata Chemicals for Using ‘TATA’ Logo as Business Deduction(22.02.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has allowed Rs 3.7 Crores to be paid by Tata Chemicals for using the ‘TATA’ logo as a business deduction.

Tags : Income Tax Appellate Tribunal, Tata Chemicals



Allahabad High Court Asks DCP to Complete Probe in Lucknow District Court Violence Incident(30.11.2021)

Allahabad High Court has asked the Deputy Commissioner of Police, West Zone, Lucknow to file a report on the violent behaviour of the lawyers outside .....

Tags : Allahabad High Court, Lucknow District Court Violence Incident



ITAT: Royalty from Operator Agreement not Chargeable to Income Tax Under Indo-US Tax Treaty(30.11.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that royalty from Operator agreement not chargeable to Income Tax under Indo-US Tax Treaty.

Tags : Income Tax Appellate Tribunal, Royalty from Operator Agreement



CBDT Issues Clarification on Continuation of Concessional Rate of Tax on Interest Income of FPIs(18.03.2021)

Central Board of Direct Taxes (CBDT) has issued the clarification on the continuation of the concessional rate of tax on interest income of Foreign Po.....

Tags : Central Board of Direct Taxes, Concessional Rate of Tax on Interest Income of FPIs



ITAT, Delhi: Entire Reassessment Proceedings Invalid if Assessee Precluded from Raising Objections(22.03.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has ruled that the entire reassessment proceedings invalid, if assessee precluded from raising objection a.....

Tags : Income Tax Appellate Tribunal, Reassessment Proceedings



Madhya Pradesh High Court Decides to Increase in Working Hours(03.01.2022)

Madhya Pradesh High Court has increased the working hours of the High Court by making corresponding amendments to the Madhya Pradesh High Court Rules,.....

Tags : Madhya Pradesh High Court, Increase in Working Hours



J&K&L HC: Dishonour of Cheque Due to Incomplete Signature Offence u/s 138 of NI Act(05.01.2022)

Jammu and Kashmir and Ladakh High Court has held that the dishonour of a cheque for the reason that there were incomplete signatures appearing on the .....

Tags : Jammu and Kashmir and Ladakh High Court, Dishonour of Cheque, Incomplete Signature



Delhi HC Directs Income Tax Department To Reconsider The Issuance of Certificate With NIL Deduction(07.01.2022)

Delhi High Court directed the Income Tax Department to reevaluate the issue of issuance of the certificate with ‘NIL’ deduction of income tax after gr.....

Tags : Delhi High Court, Income Tax Department, Certificate, Opportunity Of Being Heard



ITAT: Capital Gains Arising On Sale Of Rural Agricultural Land Outside The Ambit Of Income Tax(11.01.2022)

Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench has observed that the capital gains arising on sale of rural agricultural land outside the purvi.....

Tags : ITAT, Capital Gain, Income Tax



ITAT, Delhi Deletes Additions on Passing of Expiry Date of Product in Relief to Hindustan Coca Cola(27.01.2021)

Income Tax Appellate Tribunal (ITAT), Delhi in a relief to Hindustan Coca Cola has deleted the additions of Rs. 20.89 Lakhs on account of passing of t.....

Tags : Income Tax Appellate Tribunal, Hindustan Coca Cola



Ministry of Corporate Affairs Notifies Companies (Incorporation) Amendment Rules, 2021(28.01.2021)

Ministry of Corporate Affair (MCA) has notified Companies (Incorporation) Amendment Rules, 2021 which sought to amend the Companies (Incorporation) Ru.....

Tags : Ministry of Corporate Affairs, Companies (Incorporation) Amendment Rules, 2021



SC Questions Central Govt About Power to Control Broadcast of Content Which May Incite Violence(28.01.2021)

Supreme Court has asked the Central Government about its powers under Cable TV Networks (Regulation) Act 1994 to control broadcast of content by elect.....

Tags : Supreme Court, Broadcast of Content That May Incite Violence



ITAT, Delhi Allows Deloitte to Deduct Expenditure on Suit Against Partner as Business Expenditure(01.02.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the expenditure incurred by Deloitte Haskins & Sells towards defending suit against the part.....

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ITAT, Delhi: Indian Youth Centre Trust Eligible for Income Tax Benefits(15.12.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Indian Youth Centre Trust is eligible for income tax benefits under section 11 of the In.....

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ITAT, Amritsar: Assessee to Claim Deduction of Employees Share of ESI and PF(24.12.2021)

Income Tax Appellate Tribunal (ITAT), Amritsar has held that the assessee to claim deduction of employee’s share of Employees’ State Insurance and Pro.....

Tags : Income Tax Appellate Tribunal, Deduction of Employees Share of ESI and PF



ITAT, Mumbai: Forex Gains on Repayment of Interest-free Loan by Relative Not Taxable(19.05.2021)

Income Tax Appellate Tribunal, Mumbai has ordered that foreign exchange gains arising in the hands of an individual, on a repayment of an interest-fre.....

Tags : Income Tax Appellate Tribunal, Forex Gains on Repayment of Interest-free Loan by Relative



Kerala HC Seeks Statement on Plea Seeking Inclusion of Advocates in Vaccine Priority Group(19.05.2021)

Kerala High Court has sought a written statement on the State Government's stance on a petition for including advocates and judicial officers in the p.....

Tags : Kerala High Court, Inclusion of Advocates in Vaccine Priority Group



NHRC Seeks Government Response on Chitrakoot Prison Firing Incident(19.05.2021)

National Human Rights Commission (NHRC) has sought response from the Uttar Pradesh Director General of Police and local and prison authorities of Chit.....

Tags : National Human Rights Commission, Chitrakoot Prison Firing Incident



ITAT, Chennai Quashes Income Tax Department Assessment Order Against T.T.V. Dhinakaran(24.05.2021)

Income Tax Appellate Tribunal (ITAT), Chennai has quashed an Income Tax Department assessment order determining undisclosed income of about Rs. 57.43 .....

Tags : Income Tax Appellate Tribunal, T.T.V. Dhinakaran



ITAT, Mumbai: Reassessment Proceeding Cannot be Held Time Barred When Amendment Increases Limitation(25.02.2022)

Income Tax Appellate Tribunal, Mumbai has held that reassessment proceeding cannot be held time barred when an amendment increasing limitation of time.....

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ITAT, Mumbai: Invalid Re-Assessment By AO Cannot Be Subject Matter of Revision(28.02.2022)

Income Tax Appellate Tribunal, Mumbai has held that when an assessment framed by the Assessing Officer is invalid in law, the said invalid order canno.....

Tags : Income Tax Appellate Tribunal, Subject Matter of Revision



Gujarat HC Directs Government to Find Out Persons Accountable for Hospital Fire(12.05.2021)

Gujarat High Court has directed the Government to find out who is accountable for the fire at Bharuch’s Patel Welfare Hospital, in which 18 persons in.....

Tags : Gujarat High Court, Hospital Fire Incident



Delhi HC Pulls Up JNU for Not Reacting Timely Over Increase in Covid Cases(12.05.2021)

Delhi High Court has pulled up the Jawaharlal Nehru University (JNU) for not reacting with "swiftness and alacrity" as COVID cases continue to rise in.....

Tags : Delhi High Court, Increase in Covid Cases



Central Govt Notifies Special Courts in Tripura to Deal with Income Tax and Black Money Cases(13.05.2021)

Central Government has notified the constitution of special courts under section 280A(1) of the Income Tax Act, 1961 and section 84 of the Black Money.....

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ITAT, Bangalore: Flight Testing Services Cannot be Taxed as Fees for Technical Services(16.03.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that flight testing services provided to Hindustan Aeronautics Limited cannot be taxed as fees for .....

Tags : Income Tax Appellate Tribunal, Flight Testing Services



ITAT, Delhi: Belated Payment of Employees Contribution to Provident Fund and Insurance Scheme(17.03.2022)

Income Tax Appellate Tribunal, Delhi has ruled that belated payment of employees' contribution to the Provident Fund and State Insurance Scheme cannot.....

Tags : Income Tax Appellate Tribunal, Belated Payment of Employees Contribution



ITAT, Bangalore: Name of Assessee’s Son on Purchase Document Not to Affect Deduction(11.05.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the Assessee cannot be denied the 50% of deduction under Section 54 of the Income Tax Ac.....

Tags : Income Tax Appellate Tribunal, Purchase Document



Madras HC: State to Consider Issues Related to Unemployment and Lack of Income(28.05.2021)

Madras High Court has observed that there are citizens facing unemployment and lack of income avenues and that these aspects have to be considered by .....

Tags : Madras High Court, Issues Related to Unemployment and Lack of Income



ITAT, Hyderabad: Joint Holder in Husband’s Salary Account Not Undisclosed Foreign Account(01.06.2021)

Income Tax Appellate Tribunal (ITAT) Hyderabad has dismissed an appeal by the revenue department wherein it ruled that being a joint account holder in.....

Tags : Income Tax Appellate Tribunal, Undisclosed Foreign Account



ITAT, Delhi: Revision of Orders Prejudicial to Revenue Not to be Invoked for Computational Error(02.06.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has ruled that the provision related to revision of orders prejudicial to revenue under Section 263 of the.....

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ITAT, Delhi: Subscriber Fee Not Taxable as Royalty as Per India-Singapore DTAA(28.03.2022)

Income Tax Appellate Tribunal, Delhi has held that the subscriber fee would not be taxable as royalty as per the India-Singapore Double Taxation Avoid.....

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ITAT, Delhi: Petty Expenses Cannot be Disallowed on Ad-Hoc Basis in Corporate Entity(12.01.2022)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the petty expenses relating to telephone expenses, advertisement expenses cannot be disallow.....

Tags : Income Tax Appellate Tribunal, Petty Expenses



Central Board of Direct Taxes Extends Due Date of Income Tax Audit Reports(12.01.2022)

Central Board of Direct Taxes (CBDT) has notified the extension of the timeline for filing Income Tax Returns and Various reports of audit for the AY .....

Tags : Central Board of Direct Taxes, Due Date of Income Tax Audit Reports



ITAT, Delhi: AO Cannot Undertake Fishing or Roving Inquiry Under Guise of Re-Assessment(12.01.2022)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Assessing Officer under guise of power to re-open Assessment cannot undertake a fishing .....

Tags : Income Tax Appellate Tribunal, Fishing or Roving Inquiry



Delhi HC Questions Delay in Investigating Incident of Forcing Man to Sing National Anthem(12.01.2022)

Delhi High Court has questioned the delay in investigating an incident where a man, 23 year old Faizan, was forced to sing the national anthem during .....

Tags : Delhi High Court, Delay in Investigating Incident



Gujarat HC Issues Notice on Plea Challenging Income Tax Provision Treating Defaulter at Par(14.01.2022)

Gujarat High Court has issued the notice to the government on a plea challenging Income Tax Provision treating defaulter as well as a genuine taxpayer.....

Tags : Gujarat High Court, Income Tax Provision Treating Defaulter at Par



Allahabad HC: Fixing Low Notional Income for Non-Earning Member Not Just and Reasonable(17.01.2022)

Allahabad High Court has observed that fixing notional income at Rs.15,000/- per annum for a family's non-earning members is not just and reasonable i.....

Tags : Allahabad High Court, Fixing Low Notional Income for Non-Earning Member



ITAT, Bangalore Extends Stay of Collection of Outstanding Tax Demand Against Google India(15.03.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has allowed the further extension of stay of collection of outstanding tax demand to the tune of Rs.12.....

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ITAT, Cuttack: Interest Not Leviable if TDS Paid Before Completion of Proceedings(15.03.2021)

Income Tax Appellate Tribunal (ITAT), Cuttack has ruled that no interest is leviable if Tax Deducted at Source (TDS) is timely deducted and paid to th.....

Tags : Income Tax Appellate Tribunal, Interst on TDS



ITAT, Ahmedabad: Mere Change of Opinion Cannot be Ground Invoking Revisional Jurisdiction(24.01.2022)

Income Tax Appellate Tribunal (ITAT), Ahmedabad, has held that a mere change of opinion cannot be a ground for invoking revisional jurisdiction under .....

Tags : Income Tax Appellate Tribunal, Revisional Jurisdiction



ITAT, Chennai: Right Through Share Warrants is Valuable Right, Can be Treated as Capital Asset(24.01.2022)

Income Tax Appellate Tribunal (ITAT), Chennai, has held that a right acquired through share warrants is a valuable right, can be treated as a capital .....

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ITAT, Mumbai: Interest on Delay in Payment of Advancements Charged Only on Returned Income(27.01.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the interest on delay in payment of advancements shall be charged only on the returned inco.....

Tags : Income Tax Appellate Tribunal, Interest on Delay in Payment of Advancements



ITAT, Mumbai: Transponder Charges Not in Nature of Royalty Income(27.01.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the transponder charges are not in the nature of royalty income as per the provisions of th.....

Tags : Income Tax Appellate Tribunal, Transponder Charges



Telangana HC: Scrutiny By IT Department Barred For The Period Covered By The Resolution Plan(28.01.2022)

Telangana High Court has observed that for the period covered by the Resolution Plan, Income Tax Department cannot carry out any scrutiny or assessmen.....

Tags : Income Tax Act, Insolvency and Bankruptcy Code, Corporate Debtor, Financial Creditor



Delhi High Court Held That Findings of Fact Recorded by ITAT, Cannot Be Interfered(08.03.2022)

Delhi High Court has observed that in an appeal to the High Court under Section 260A of the Income Tax Act, 1961 there can be no interference with the.....

Tags : Delhi High Court , Income Tax Act, 1961



ITAT: Consideration For Accessing Database Cannot Be Treated As 'Royalty'(08.03.2022)

Delhi Bench of Income Tax Appellate Tribunal (ITAT) has observed that the consideration for accessing Database cannot be treated as 'Royalty' under In.....

Tags : Income Tax Appellate Tribunal, Double Taxation Avoidance Agreement, India-US



Delhi High Court: Application For Compounding Of Offence U/S 276CC IT Act Cannot Be Rejected(08.03.2022)

Delhi High Court has held that an application for compounding of the offence under Income Tax Act, 1961 cannot be rejected on the ground that Assessee.....

Tags : Delhi High Court, Chief Commissioner of Income Tax, Section 276CC of Income Tax Act, 1961



Delhi HC Quashes Reassessment Notice, There Is No Rational Nexus To Believe Escapement Of Income(08.03.2022)

Delhi High Court has nullified the reassessment notice issued under Section 148 of Income Tax Act, 1961 on the grounds that the reason to believe was .....

Tags : Delhi High Court, Section 148, Income Tax Act, 1961, Reassessment Notice



ITAT, Bangalore: Unascertained Business Loss Cannot be Allowed as Deduction(09.03.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that unless the recovery of embezzled amount in the course of business was impossible, it could not.....

Tags : Income Tax Appellate Tribunal, Unascertained Business Loss



ITAT, Delhi: Non Production of Persons Despite Summons Leads to Inference of Routing Own Money(09.03.2022)

Income Tax Appellate Tribunal, Delhi has ruled that an Assessing Officer has the power to verify transactions beyond the paperwork submitted by the As.....

Tags : Income Tax Appellate Tribunal, Non Production of Persons



SC: Co-operative Societies Engaged in Banking Biz Not Eligible for Deduction u/s 80P of IT Act(16.08.2017)

Supreme Court has ruled that co-operative societies engaged in banking business for public are not eligible for deduction u/s 80P of Income Tax Act, 1.....

Tags : Supreme Court, Income Tax Act



J&K HC: Supplying Audio of Back Ground Sound to a Film Already Shot Amounts to “Manufacture”(16.08.2017)

Jammu & Kashmir High Court has held that activity of supplying audio of back ground sound to film already shot by customers, would amount to manufactu.....

Tags : Jammu & Kashmir High Court, Income Tax Act



Re-Assessment Can’t Be Done Merely Because Some Aspects of Deduction Claim Not Examined: Gujarat HC(26.09.2018)

Gujarat High Court has held that Re-Assessment under Section 147/ 148 of the Income Tax Act, 1961 cannot be re-opened merely on the ground that some a.....

Tags : Gujarat High Court, Assessment, Income Tax



Supreme Court: Rulers of Princely States were ''Maharajas Without Praja''(01.08.2019)

Supreme Court observed that rulers of princely states were ''Maharajas'' (kings) without ''praja'' (subjects). It was also noted that sovereignty and .....

Tags : Supreme Court, Princely States



ITAT, Delhi: Income Tax Penalty Cannot be Imposed Unless Assessee Obliged In Law(05.04.2022)

Income Tax Appellate Tribunal, Delhi observed that the penalty of income tax under section 271(1)(c) of the Income Tax Act, 1961 cannot be obligatory .....

Tags : Income Tax Appellate Tribunal, Delhi, income tax, section 271(1)(c) of the Income Tax Act, 1961, assessee



ITAT, Delhi Upholds Order Against Gandhi Family on Commercial Immovable Property(06.04.2022)

Income Tax Appellate Tribunal, Delhi has upheld the case against the Gandhi family in relation with commercial immovable properties worth more than Rs.....

Tags : Income Tax Appellate Tribunal, Gandhi family, commercial immovable properties, Rs 800 crore, Young Indian, share capital of Rs 5 lakh, hawala entry, Rs 1 crore



ITAT, Delhi: Expenditure of Royalty for Technical Know-How Can Be Treated as Revenue Expenditure(06.04.2022)

Income Tax Appellate Tribunal, Delhi has held that the royalty expenditure for the use of know-how can be treated as revenue expenditure under Income .....

Tags : Income Tax Appellate Tribunal, royalty expenditure, use of know-how, Income Tax Act, 1961



ITAT, Delhi: Expenditure of Royalty for Technical Know-How Can Be Treated as Revenue Expenditure(06.04.2022)

Income Tax Appellate Tribunal, Delhi has held that the royalty expenditure for the use of know-how can be treated as revenue expenditure under Income .....

Tags : Income Tax Appellate Tribunal, royalty expenditure, use of know-how, Income Tax Act, 1961



ITAT, Delhi: Expenditure of Royalty for Technical Know-How Can Be Treated as Revenue Expenditure(06.04.2022)

Income Tax Appellate Tribunal, Delhi has held that the royalty expenditure for the use of know-how can be treated as revenue expenditure under Income .....

Tags : Income Tax Appellate Tribunal, royalty expenditure, use of know-how, Income Tax Act, 1961



ITAT, Delhi: Expenditure of Royalty for Technical Know-How Can Be Treated as Revenue Expenditure(06.04.2022)

Income Tax Appellate Tribunal, Delhi has held that the royalty expenditure for the use of know-how can be treated as revenue expenditure under Income .....

Tags : Income Tax Appellate Tribunal, royalty expenditure, use of know-how, Income Tax Act, 1961



ITAT, Delhi: Depreciation not Allowable On Non-Compete Fee(06.04.2022)

Income Tax Appellate Tribunal, Delhi has observed that the depreciation is not allowable on non-compete fee under section 32 of the Income Tax Act, 19.....

Tags : Income Tax Appellate Tribunal, depreciation, non-compete fee, section 32 of the Income Tax Act, 1961



ITAT, Mumbai: Provisions of Black Money Act Cannot be Invoked for Minor Breach of Law(06.04.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai has observed that the provisions of the Black Money (Undisclosed Foreign Income and Assets) and Impositio.....

Tags : Income Tax Appellate Tribunal, Black Money Act



ITAT, Kolkata: Limitation for Revisionary Jurisdiction Runs from Assessment Date Order(06.04.2022)

Income Tax Appellate Tribunal, Kolkata has observed that the limitation period for exercising revisionary jurisdiction runs from the date of assessmen.....

Tags : Income Tax Appellate Tribunal, Kolkata, limitation period, revisionary jurisdiction, assessment order, Section 263 of Income Tax Act, 1961



ITAT, Bangalore: Shortage of Manpower on Account of Merger Sufficient for Condonation of Delay(24.03.2021)

Income Tax Appellate Tribunal, Bangalore has stated that shortage of manpower and lack of guidance/expertise in taxation, on account of merger of Stat.....

Tags : Income Tax Appellate Tribunal, Condonation of Delay



ITAT, Delhi: Deduction u/s 80HHC to be Computed after Reducing Deduction u/s 80IA(02.04.2021)

Income Tax Appellate Tribunal, Delhi has held that deduction allowed under Section 80-IA of Income Tax Act, 1961 has to be reduced from the profits fo.....

Tags : Income Tax Appellate Tribunal, Deduction u/s 80HHC



#Union Budget 2022-2023: Overview and Inclusive Development of Agricultural Sector(01.02.2022)

Finance Minister has announced support for post-harvest value addition for millet products, as 2022 will be Year of Millet. Procurement of Wheat and R.....

Tags : Union Budget, Finance Minister, Inclusive Development of Agricultural Sector



ITAT, Ahmedabad: No Disallowance for Interest Expenses if Investment to Acquire Control(03.02.2022)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that no disallowance can be made for interest expenses if the investment was made to acquire .....

Tags : Income Tax Appellate Tribunal, No Disallowance for Interest Expenses



Orissa HC Upholds Mandamus Issued to HOUDD and OWSSB to Increase Superannuation Age(03.02.2022)

Orissa High Court has upheld the decision of Single Judge Bench which had issued a mandamus to the Housing and Urban Development Department, Governmen.....

Tags : Orissa High Court, Increase Superannuation Age



ITAT, Ahmedabad: Income Tax Assessment Against Deregistered Company Invalid(04.02.2022)

Income Tax Appellate Tribunal (ITAT) Ahmedabad, has held that the income tax assessment against a company deregistered by the Ministry of Corporate Af.....

Tags : Income Tax Appellate Tribunal, Income Tax Assessment



ITAT, Delhi: Subscriber Fee Not Taxable as Royalty as Per India-Singapore DTAA(28.03.2022)

Income Tax Appellate Tribunal, Delhi has held that the subscriber fee would not be taxable as royalty as per the India-Singapore Double Taxation Avoid.....

Tags : Income Tax Appellate Tribunal, Subscriber Fee



ITAT, Ahmedabad: Amount Received from HUF Not in Nature of Gift and Shall Not be Taxable(28.03.2022)

Income Tax Appellate Tribunal, Ahmedabad has held that the amount received by the assessee from its HUF which is not in the nature of gift or received.....

Tags : Income Tax Appellate Tribunal, Amount Received from HUF



ITAT, Ahmedabad: IBC to Have Overriding Effect Over Income Tax Proceedings(28.03.2022)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that since the Insolvency and Bankruptcy Code, 2016 has overriding effect over the income tax.....

Tags : Income Tax Appellate Tribunal, Income Tax Proceedings, Liquidation



ITAT, Delhi: Performance Guarantee Commission is Not Business Income Under DTAA(29.03.2022)

Income Tax Appellate Tribunal, Delhi has observed that performance guarantee commission by an assessee from its foreign Associated Enterprise is not i.....

Tags : Income Tax Appellate Tribunal, Double Taxation Avoidance Agreement, Assessee, Income Tax



Supreme Court: Immunity Under IDS is not available to Another Assessee Other Than Declarant(30.03.2022)

Supreme Court has observed that under the Income Declaration Scheme, the immunity Section 192 of the Income Tax Act, 1961 was available only to the de.....

Tags : Supreme Court, Income Declaration Scheme, Assessee



ITAT, Delhi: Penalty Notice Issued Without Applying Mind in Stereotyped manner is Not Valid(30.03.2022)

Income Tax Appellate Tribunal, Delhi has observed that a penalty notice issued in a stereotyped manner under section 271(1)(c) of the Income Tax Act, .....

Tags : Delhi Income Tax Appellate Tribunal, stereotyped, Section 271(1)(c) of the Income Tax Act, 1961



ITAT: Unascertained Liability Cannot be Allowed as Embezzlement Losses in Computing Business Income(10.03.2022)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the embezzlement loss stated by the assessee is not ascertained liability and hence cann.....

Tags : Income Tax Appellate Tribunal, Embezzlement Losses, Business Income



ITAT, Chennai: Capital Gains to be Computed as per Share of Parties in Residential Property(10.03.2022)

Income Tax Appellate Tribunal, Chennai has held that capital gains under the Income Tax Act, 1961 is to be computed according to the respective share .....

Tags : Income Tax Appellate Tribunal, Capital Gains



Delhi HC Dismisses Appeal Against Deletion of Income Tax Addition for Share or Bogus Purchases(11.03.2022)

Delhi High Court has dismissed the appeal against the deletion of income tax addition for share or bogus purchases or cash deposits and held that appe.....

Tags : Delhi High Court, Deletion of Income Tax Addition



ITAT, Mumbai: Claim Of Deduction to be Reckoned From Date of Possession of New Property(11.03.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that an assessee's claim of deduction under Section 54 of the Income Tax Act, 1961 was to be reckoned .....

Tags : Income Tax Appellate Tribunal, Possession of New Property



ITAT, Mumbai: Payment to Foreign Company for Utilisation of Transponder of Satellite Not Royalty(11.03.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai ruled that the payment made to a foreign company for the utilisation of a transponder centred on a satell.....

Tags : Income Tax Appellate Tribunal, Utilisation of Transponder of Satellite



ITAT, Delhi: Accessing Premises for Technical Assistance Can't Be Treated as Permanent Establishment(11.03.2022)

Income Tax Appellate Tribunal, Delhi has held that access to a foreign enterprise for providing technical assistance to its Joint Venture Company in i.....

Tags : Income Tax Appellate Tribunal, Accessing Premises for Technical Assistance



ITAT, Mumbai Directs AO to Set Off MAT Credit in Relief to Tata Motors(30.07.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has directed the Assessing Officer to set off of (MAT) credit inclusive of surcharge, education cess in a.....

Tags : Income Tax Appellate Tribunal, Tata Motors



ITAT, Delhi: Provision of Ground Rent Shall Not be Allowable Under Section 43B Income Tax Act(03.08.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the provision of ground rent shall not be allowable under section 43B of the Income Tax Act,.....

Tags : Income Tax Appellate Tribunal, Provision of Ground Rent



ITAT, Mumbai: Assessing Officer Cannot Make Addition on Basis of Suo-Moto Disclosure of Assessee(15.04.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that the Assessing Officer cannot make any addition to assessee's income on the basis of the suo-moto .....

Tags : Income Tax Appellate Tribunal, Addition on Basis of Suo-Moto Disclosure



Gauhati HC: Incriminating Evidence Under Section 3113 CrPC Should be Put Up in Concise Manner(15.04.2022)

Gauhati High Court has observed that under Section 313 of Code of Criminal procedure, 1973 (CrPC), the trial Court should bring to accused’s notice, i.....

Tags : Gauhati High Court, Incriminating Evidence



ITAT, Mumbai: Corpus Donations Received by Trust Not Taxable, Even If Trust Is unregistered(18.04.2022)

Income Tax Appellate Tribunal, Mumbai has held that the corpus donations received by a Trust for a specific purpose are not taxable, even if the Trust.....

Tags : Income Tax Appellate Tribunal, Section 12 A of the Income Tax Act, 1961, capital receipt



Karnataka HC: Non-Compliance of SOP Should Not be Ground to Prohibit Candidate from Writing Exam(30.07.2020)

Central Board of Direct Taxes ( CBDT ) has extended the due date of filing Income Tax Returns for the Financial Year 2018-19 to 30th September 2020.

Tags : Central Board of Direct Taxes, Income Tax Returns



ITAT, Bangalore: Long Term Capital Loss to be Computed from Date of Possession of Property(22.06.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that long term capital loss is to be computed from the date of possession of Property and not.....

Tags : Income Tax Appellate Tribunal, Long Term Capital Loss



ITAT, Indore: Revisional Jurisdiction Cannot be Invoked if Assessment Orders Not Erroneous(30.06.2021)

Income Tax Appellate Tribunal (ITAT), Indore has held that revisional jurisdiction under Section 263 of the Income Tax Act, 1961 cannot be invoked if .....

Tags : Income Tax Appellate Tribunal, Revisional Jurisdiction



ITAT, Delhi: No TDS Since Routine Business Support Services Can’t be Treated as Fee for Technical Ser(25.04.2022)

Income Tax Appellate Tribunal (ITAT), Delhi has has held that routine business support services are not taxable as fees for technical services (FTS) s.....

Tags : Income Tax Appellate Tribunal, Routine Business Support Services



ITAT, Mumbai: Remuneration Paid to Partner Out of Profit Cannot be Treated as Salary(25.04.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that the remuneration paid to Partner out of the share of profit cannot be treated as salary to .....

Tags : Income Tax Appellate Tribunal, Remuneration



Delhi HC Directs Revenue to Grant Immunity Under Section 270AA(26.04.2022)

Delhi High Court has observed that the assessee cannot be prejudiced by the inaction of the Assessing Officer, directing the revenue to grant immunity.....

Tags : Delhi High Court, Section 270AA of the Income Tax Act, 1961, Assessing Officer



ITAT, Mumbai: Deemed Dividend Would Not Attract Loans and Advances Out of Commercial Consideration(26.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the provisions of deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961 would be .....

Tags : Income Tax Appellate Tribunal, Deemed Dividend, Section 2(22)(e), Income Tax Act, 1961



Delhi HC: Collection of Service Charges from Donors Cannot Be Ground to Deny Tax Exemption(07.04.2022)

Delhi High Court has observed that the collection of service charges by India HIV AIDS Alliance from the donors cannot be treated as a reason to deny .....

Tags : Delhi High Court, service charges, India HIV AIDS Alliance, section 11, Income Tax Act, 1961, section 12



Chhattisgarh HC: Assessing Officer Failed to Record Reason for Issue of Notice u/s 148(07.04.2022)

Chhattisgarh High Court has quashed a notice on grounds that the Assessing Officer had failed to record the reason for issue of notice under section 1.....

Tags : Chhattisgarh High Court, section 148 of the Income Tax Act, 1961, Assessing Officer



ITAT, Delhi: No Liability to Deduct TDS on Payments Made by Lenskart to Facebook Ireland(07.04.2022)

Income Tax Appellate Tribunal, Delhi has upheld the order passed by Commissioner of Income Tax (Appeals) by deleting additions of over Rs. 67 Lakhs ma.....

Tags : Income Tax Appellate Tribunal, Sixty Seven Lakhs, Lenskart's, Tax Deducted at Source, Facebook, Ireland



Supreme Court: Mere Amalgamation Would Not invalidate Income Tax Proceedings(07.04.2022)

Supreme Court has held that whether corporate death of amalgamating entity upon amalgamation invalidates an order of assessment issued under the Incom.....

Tags : Supreme Court, amalgamation, Income Tax Act, 1961, Section 481 of the Companies Act, 1956



ITAT, New Delhi: Interest on Enhanced Compensation Does Not Come u/s 56 IT Act(08.04.2022)

Income Tax Appellate Tribunal( ITAT ), New Delhi has observed that received interest on enhanced compensation does not comes under income from other s.....

Tags : Income Tax Appellate Tribunal, received interest, enhanced compensation, Tax Deduction at Source, section 194A of the income tax act, 1961



ITAT, Mumbai: Non-Disclosure of Foreign Asset in ITR Not Valid Reason for Imposition of Penalty(08.04.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai has observed that non disclosing of a foreign asset in the income tax return, by itself, is not a valid r.....

Tags : Income Tax Appellate Tribunal, foreign asset, income tax return, Black Money Act, assessee



Allahabad HC: Long Period of Incarceration Can be Fresh Grounds for Bail(31.03.2022)

Allahabad High Court has observed that if there is no possibility of concluding the trial in near future and the accused applicant has been in jail fo.....

Tags : Allahabad High Court, long incarceration, grant of bail



ITAT, Delhi: Registration of Trust is Deemed in Absence of Refusal of Registration(31.03.2022)

Income Tax Appellate Tribunal, Delhi has held that trust is deemed to be registered under section 12AA of the Income Tax Act, 1961 in the absence of r.....

Tags : Income Tax Appellate Tribunal, section 12AA, 6 months



ITAT, Bangalore: Delay in Filing Form 67 Cannot be Reason to Deny Foreign Tax Credit(31.03.2022)

Income Tax Appellate Tribunal, Bangalore has observed that Rule 128 of the Income Tax Rules which requires the assessee to submit Form 67 before filin.....

Tags : Income Tax Appellate Tribunal, Rule 128 of the Income Tax Rules, filing Form 67, Form 67, Foreign Tax Credit



CBDT Notifies E-Assessment of Income Escaping Assessment Scheme 2022(31.03.2022)

Central Board of Direct Taxes (CBDT) has notified that the e-Assessment of Income Escaping Assessment Scheme, 2022 and Faceless Jurisdiction of Income.....

Tags : Central Board of Direct Taxes, CBDT, the e-Assessment, Income Escaping Assessment Scheme, 2022, artificial intelligence



Madras HC: Adjudication is Conclusive to Incidental/Connected Subject Matter of Litigation(31.03.2022)

Madras High Court has held that the principle of res judicata prevents the parties to a judicial determination from litigating the same question again.....

Tags : Madras High Court, principle of res judicata, judicial determination



Delhi High Court Holds That Assessee Is Eligible For Immunity and Tax Payer Should Be Incentivised(01.04.2022)

Delhi High Court has ruled that the action of income tax authorities to deny the benefit of immunity from penalty under Section 270AA of Income Tax Ac.....

Tags : Delhi High Court, Section 270AA of Income Tax Act, 1961, Section 270A, Tax Payer



ITAT, Kolkata: Contributions Made After Statutory Due Date Shall be Allowable as Deduction(22.03.2022)

Income Tax Appellate Tribunal (ITAT), Kolkata has allowed relief to Deloitte Haskins & Sells, holding that the contributions made after the statutory .....

Tags : Income Tax Appellate Tribunal, Contributions Made After Statutory Due Date



ITAT, Kolkata: Commissioner Cannot Point Out Issues Other Than Issue Taken Up by AO(22.03.2022)

Income Tax Appellate Tribunal, Kolkata has held that the Commissioner, while invoking his jurisdiction under section 263 of the Income Tax Act, 1961 c.....

Tags : Income Tax Appellate Tribunal, Commissioner, Issues



ITAT, Delhi Deletes Penalty Since Non-Deduction of Tax was Due to Non-Receipt of Invoices(23.03.2022)

Income Tax Appellate Tribunal (ITAT), Delhi has deleted a penalty order under section 271C of the Income Tax Act, 1961 by holding that the non-deducti.....

Tags : Income Tax Appellate Tribunal, Non-Deduction of Tax



Calcutta HC Directs WB Govt to Submit Status Report on Rampurhat Incident in Birbhum District(24.03.2022)

Calcutta High Court has directed the West Bengal government to submit a status report on the Rampurhat incident in Birbhum district within 24 hours w.....

Tags : Calcutta High Court, Rampurhat Incident in Birbhum District



ITAT, Agra: No Late Fee for Failure to File TDS/TCS Returns Prior to 1st June(24.03.2022)

Income Tax Appellate Tribunal, Agra has held that the late fee shall not apply under section 234E of the Income Tax Act, 1961 for the failure to file .....

Tags : Income Tax Appellate Tribunal, Failure to File TDS/TCS Returns



NHRC Issues Notice to Bengal Government, Police on Birbhum Incident(25.03.2022)

National Human Rights Commission (NHRC) has issued notices to the West Bengal Chief Secretary and the Director General of Police over the violence in .....

Tags : National Human Rights Commission, Birbhum Incident



ITAT, Mumbai: Corpus Donations Received by Trust Not Taxable, Even If Trust Is unregistered(18.04.2022)

Income Tax Appellate Tribunal, Mumbai has held that the corpus donations received by a Trust for a specific purpose are not taxable, even if the Trust.....

Tags : Income Tax Appellate Tribunal, Section 12 A of the Income Tax Act, 1961, capital receipt



ITAT, Bangalore Allows Capital Gain Exemption Since Sale Deed was Registered Within Given Time(18.04.2022)

Income Tax Appellate Tribunal, Bangalore has observed that the date of completion of construction of new property is immaterial to allow exemption und.....

Tags : Income Tax Appellate Tribunal, section 54F, Income Tax Act, 1961, statutory period



ITAT, Delhi: No Penalty on Receiving Cash Loan from Family Members to Meet Business Exigency(18.04.2022)

Income Tax Appellate Tribunal, Delhi has observed that the penalty under sections 271D and 271E of the Income Tax Act, 1961 cannot be leviable on rece.....

Tags : Income Tax Appellate Tribunal, Cash loan, Business Exigency



ITAT, Bangalore: Payment of Sub Contracting Charges to Subsidiary Liable to TDS(18.04.2022)

Income Tax Appellate Tribunal, Bangalore has observed that payment of sub-contracting charges to subsidiary is liable to Tax Deduction at Source.

Tags : Income Tax Appellate Tribunal, Tax Deduction at Source, sub-contracting charges



ITAT, Chennai: Mere Mistake in Filing of Income Tax Return Not Effect in Enhancement of Income(18.04.2022)

Income Tax Appellate Tribunal, Chennai has observed that a mere mistake in the filing of return of income would not result into income enhancement of .....

Tags : Income Tax Appellate Tribunal, assessee, filing of return



ITAT, Chennai: Penalty Can’t be Levied Based on Estimate Addition(18.04.2022)

Income Tax Appellate Tribunal, Chennai has observed that the order of penalty under section 271(1)(c) of the Income Tax Act, 1961 cannot be levied mer.....

Tags : Income Tax Appellate Tribunal, section 271(1)(c) of the Income Tax Act, 1961



ITAT, Mumbai: Payment for Transponder Services Not Amount to Royalty(08.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the payment for transponder services would not amount to royalty under the provisions of Incom.....

Tags : Income Tax Appellate Tribunal, transponder services, royalty, Income Tax, Double Taxation Avoidance Agreements



ITAT, Pune: Capital Gain Exemption u/s 54F for Purchase of Office Premises not available(08.04.2022)

Income Tax Appellate Tribunal, Pune has observed that the capital gain exemption under section 54F of the Income Tax Act, 1961 is not available in the.....

Tags : Income Tax Appellate Tribunal, capital gain exemption, Income Tax Act, 1961, office premises



ITAT, Mumbai: Revisional Jurisdiction Invoked for Lack of Inquiry, Not for Inadequate Inquiry(08.04.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that the revisional jurisdiction can be invoked only for lack of inquiry and not for inadequate inquir.....

Tags : Income Tax Appellate Tribunal, Revisional Jurisdiction, lack of inquiry, section 263, Income Tax Act, 1961



ITAT, Mumbai: Payment for Transponder Services Does Not Amount to Royalty(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the payment for transponder services would not amount to royalty under the provisions of Incom.....

Tags : Income Tax Appellate Tribunal, transponder services, royalty, Income Tax Law, Double Taxation, Avoidance Agreements



ITAT, Pune: Exemption of Capital Gain u/s 54F not available for Purchase of Office Premises(11.04.2022)

Income Tax Appellate Tribunal, Pune has observed that the exemption of capital gain under section 54F of the Income Tax Act, 1961 is unavailable if th.....

Tags : Income Tax Appellate Tribunal, capital gain, section 54F of the Income Tax Act, 1961, sale consideration



ITAT, Mumbai: Revisional Jurisdiction Can be Invoked for Lack of Inquiry, Not for Inadequate Inquiry(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the revisional jurisdiction under section 263 of the Income Tax Act, 1961 can be invoked only .....

Tags : Income Tax Appellate Tribunal, revisional jurisdiction, section 263 of the Income Tax Act, 1961, lack of inquiry, inadequate inquiry



ITAT, Delhi: TDS u/s 194D Inapplicable to Reinsurance Commission(18.04.2022)

Income Tax Appellate Tribunal, Delhi has observed that the provisions of Tax Deducted at Source under section 194D of the Income Tax Act, 1961 is not.....

Tags : Income Tax Appellate Tribunal, Tax Deducted at Source, section 194D of the Income Tax Act, 1961



ITAT, Delhi: Framing of Reassessment u/s 147 of IT Act against Non-Existing Entity Void Ab-initio(18.04.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the re-assessment under section 147 and section 143(3) of the Income Tax Act, 1961 is not sustaina.....

Tags : Income Tax Appellate Tribunal, section 147, section 143(3) of the Income Tax Act, 1961



ITAT, Bangalore: Service Tax Collected But Not Remitted Can be Disallowed u/s 43B of Income Tax Act(18.04.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that the amount of service tax collected under section 43B of the Income Tax Act, 1961 but not remi.....

Tags : Income Tax Appellate Tribunal, service tax, section 43B of the Income Tax Act, 1961



ITAT, Chennai: Provisions of Sec 44AD Not Applicable to Commission Agents(18.04.2022)

Income Tax Appellate Tribunal, Chennai has observed that the provisions of Section 44AD of the Income Tax Act, 1961 cannot be applied to commission ag.....

Tags : Income Tax Appellate Tribunal, Section 44AD of the Income Tax Act, 1961, commission agents



ITAT, Delhi: No TDS Required to be Deducted on Enhanced Compensation Under Land Acquisition Act(19.04.2022)

Income Tax Appellate Tribunal, Delhi has held that the interest on enhanced compensation awarded to land owners by the Court under Section 28 of the L.....

Tags : Income Tax Appellate Tribunal, enhanced compensation, Section 28 of the Land Acquisition Act, 1894, Tax Deducted at Source



ITAT, Delhi: Suppression in Net Sales as Business Income, Can’t be Treated As Deemed Income(19.04.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the income surrendered for suppression in the net sales shall be assessable as Income from Busines.....

Tags : Income Tax Appellate Tribunal, Suppression in Net Sales, Business Income



ITAT, Vishakhapatnam: Use of Agricultural Produce for Feeding Children is Charitable Activity(11.04.2022)

Income Tax Appellate Tribunal, Vishakhapatnam has observed that the activity of agricultural products for feeding children in the orphanage is charita.....

Tags : Income Tax Appellate Tribunal, agricultural products, charitable, orphanage, charitable society



ITAT, Mumbai: Corpus Donations by Un-Registered Trust Considered as Capital Receipt(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that Corpus Donations received by an un-registered trust will be under the purview of Capital Recei.....

Tags : Income Tax Appellate Tribunal, Corpus Donations, Capital Receipt



ITAT, Mumbai: Reasons Mentioned in Notice for Re-Assessment Cannot be Improved Later(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the reasons specified in the re-assessment notice under section 148 of the Income Tax Act, 196.....

Tags : Income Tax Appellate Tribunal, section 148 of the Income Tax Act, 1961, re-assessment notice



ITAT, Mumbai: Architect Fee Paid in Connection with Transfer of Development Rights Allowable(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the architect fee paid by the assessee regarding the transfer of development rights are allowa.....

Tags : Income Tax Appellate Tribunal, architect fee, assesse, section 48 of the Income Tax Act, 1961, capital gain



ITAT, Mumbai: Reasons Mentioned in Notice for Re-Assessment Cannot be Improved Later(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the reasons specified in the re-assessment notice under section 148 of the Income Tax Act, 196.....

Tags : Income Tax Appellate Tribunal, section 148 of the Income Tax Act, 1961, re-assessment notice



ITAT, Mumbai: Reasons Mentioned in Notice for Re-Assessment Cannot be Improved Later(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the reasons specified in the re-assessment notice under section 148 of the Income Tax Act, 196.....

Tags : Income Tax Appellate Tribunal, section 148 of the Income Tax Act, 1961, re-assessment notice



ITAT, Bangalore: Digital Data Recovered During Search has Evidentiary Value(27.04.2022)

Income Tax Appellate Tribunal, Bangalore has observed that the digital data recovered by the income tax department has evidentiary value during the se.....

Tags : Income Tax Appellate Tribunal, digital data, income tax department, Income Tax Act, 1961



ITAT, Kolkata: Adjudicating Authorities Cannot Grant Approval U/S 10(23C) With Retrospective Effect(27.04.2022)

Income Tax Appellate Tribunal, Kolkata has ruled that the adjudicating authorities under the Income Tax Act, 1961 cannot grant approval under section .....

Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, section 10(23C), retrospective



ITAT, Delhi: Fee for Cloud Services Not Royalty(27.04.2022)

Income Tax Appellate Tribunal, Delhi while granting relief to a subsidiary company of Information Technology giant Microsoft Corporation, Ministry of .....

Tags : Income Tax Appellate Tribunal, Information Technology, Microsoft Corporation, Ministry of Law Corporation, subscription fee, royalty, cloud computing



ITAT, Mumbai: IT Law Doesn't Bar Assessing Officer to go Beyond Reasons Where Re-Assessment Initiated(28.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that there is no bar under the law that the Assessing Officer is entitled to confine assessment on .....

Tags : Income Tax Appellate Tribunal, Assessing Officer, Income Tax Act, 1961, sections 147, sections 148



ITAT, Bangalore: Transactions Between Trust and Trustee Not Covered U/S 269SS of Income Tax Act(28.04.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that the managing trustee of the society is not covered by the expression any other persons stirrin.....

Tags : Income Tax Appellate Tribunal, section 269SS, 269T of the Income Tax Act, 1961



ITAT, Mumbai: Data Retrieved From Pen Drive Can’t be Sole Evidence For Re-Assessment(28.04.2022)

Income Tax Appellate Tribunal, Mumbai has held that the data retrieved from the pen drive seized during the search can’t be a sole basis for re-assess.....

Tags : Income Tax Appellate Tribunal, data retrieved, Income Tax Act, 1961, section 147, section 148, section 65B (4), Indian Evidence Act, 1872



Kerala HC: Non Release of Seized Documents in Supreme Court is Illegal(01.04.2022)

Kerala High Court has held that the income tax department is unauthorized to retain the seizure of title deeds under Section 132 of the Income Tax Act.....

Tags : Kerala High Court, income tax department, title deeds, Section 132 of the Income Tax Act, 1961, Special Leave Petition



ITAT, Delhi: Payment to Microsoft for Software Purchase Does Not Amount to Royalty(04.04.2022)

Income Tax Appellate Tribunal, Delhi has observed that the assesee, HP Services (Singapore) cannot be taxed for royalty as per the Indo-Singapore Doub.....

Tags : Income Tax Appellate Tribunal, HP Services, Indo-Singapore, Double Taxation Avoidance Agreement, Microsoft company



ITAT, Delhi: Non-Appearance Before Authorities to Imply Assessee Has Nothing to Rebut(04.04.2022)

Income Tax Appellate Tribunal Delhi has observed that the income tax proceedings are attached with the presumption of truth and the non-appearance bef.....

Tags : Income Tax Appellate Tribunal, income tax proceedings, presumption of truth, rebut



P&H HC: Plea of Violation of Principles of Natural Justice Not Maintainable Without Grounds(04.04.2022)

Punjab and Haryana High Court has observed that the plea seeking to violate the principles of natural justice is unacceptable by the courts unless, it.....

Tags : Punjab and Haryana High Court, principles of natural justice



ITAT, Mumbai: Order of Assessment without Reasons, Not Erroneous or Prejudicial to Interest of Revenu(04.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that action of the Assessing Officer to accept the explanation submitted by the Assessee during scr.....

Tags : Income Tax Appellate Tribunal, Assessing Officer, Assessee



Kerala HC Dismisses Plea of Witness Alleging Harassment from Investigating Officer in Assault Case(04.04.2022)

Kerala High Court has dismissed a petition filed by Sagar Vincent, a witness in the 2017 actor sexual assault case alleging that investigating officer.....

Tags : Kerala High Court, Sagar Vincent, sexual assault case, Biju Paulose



SC: No Deemed Registration in Case of Non-deciding of S. 12AA Application(28.04.2022)

Supreme Court has observed that there cannot be a deemed registration in case of non-deciding of an application filed under section 12AA (2) of the In.....

Tags : Supreme Court, section 12AA (2), Income Tax Act, 1961, deemed registration



Calcutta HC: Income Tax Dues of Company Couldn’t Recover Post-Liquidation(28.04.2022)

Calcutta High Court has upheld the notices issued against two directors of the Company by allowing for the fact that the income tax department was una.....

Tags : Calcutta High Court, garnishee notices, Income tax department, liquidation process



ITAT, Jaipur: FDRs Interest Made for Business Purposes Shall be Treated as Business Income(29.04.2022)

Income Tax Appellate Tribunal, Jaipur has ruled that the interest income received from the Fixed Deposit Receipt made for business purposes and for ge.....

Tags : Income Tax Appellate Tribunal, Fixed Deposit Receipt, Income from Other Sources, Income Tax Act, 1961



ITAT, Bangalore: Assessee Couldn’t Submit Evidence for Payment of Brokerage for Sale of Property(29.04.2022)

Income Tax Appellate Tribunal, Bangalore has permitted 1% of the sale consideration as brokerage for the sale of the property since the assessee could.....

Tags : Income Tax Appellate Tribunal, brokerage, Income Tax Act, 1961, assessee



ITAT, Mumbai: No TDS on Payments to Foreign Insurers, Rules(29.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that any payment prepared by the assessee company to such foreign insurers would not be chargeable .....

Tags : Income Tax Appellate Tribunal, Section 195(1), Income Tax Act, 1961, foreign insurers



ITAT, Delhi: Subscription Fee Towards Cloud Services Not Taxable as Royalty(29.04.2022)

Income Tax Appellate Tribunal, Delhi has held that the subscription fee received towards Cloud Services is not taxable as royalty.

Tags : Income Tax Appellate Tribunal, Cloud Services, subscription fee, royalty



ITAT, Delhi: Fulfillment of Twin Conditions is Mandatory for Invoking Jurisdiction u/s 263(19.04.2022)

Income Tax Appellate Tribunal, Delhi has observed that fulfillment of twin conditions is obligatory for invoking the jurisdiction under section 263 of.....

Tags : Income Tax Appellate Tribunal, section 263 of the Income Tax Act, 1961, jurisdiction



ITAT, Bangalore: Corporate Guarantee Falls Within Ambit of International Transaction(19.04.2022)

Income Tax Appellate Tribunal, Bangalore has observed that corporate guarantee falls within the extent and ambit of international transaction and Arm’.....

Tags : Income Tax Appellate Tribunal, Arm’s Length Price, international transaction



ITAT, Delhi: Royalty Cannot be Endorsed to Providing Customized Research Advisory Services(19.04.2022)

Income Tax Appellate Tribunal; Delhi has observed that customized research advisory services are not taxable under the head Royalty under the relevant.....

Tags : Income Tax Appellate Tribunal, Royalty, Income Tax Act, 1961, customized research advisory services



ITAT, Delhi Restricts Addition Only on Embedded Portion of Profit(19.04.2022)

Income Tax Appellate Tribunal, Delhi has observed that the addition due to mismatch amid the Books of Accounts and Form 26AS can be made only on the e.....

Tags : Income Tax Appellate Tribunal, Books of Accounts, Form 26AS, embedded profit portion



ITAT, Ahmedabad: Assessing Officer Cannot Interfere With Business Decisions of Assessee(20.04.2022)

Income Tax Appellate Tribunal, Ahmedabad has observed that the Assessing Officer cannot interfere with the business decisions of the assessee.

Tags : Income Tax Appellate Tribunal, Assessing Officer, assessee



ITAT, Ahmedabad: TDS on Car Hiring Charges Paid Above Rs. 1.8 Lakhs U/S 194I of Income Tax Act(20.04.2022)

Income Tax Appellate Tribunal, Ahmedabad has observed that charges of car hiring falls under the provision of section 194I of the Income Tax Act, 1961.....

Tags : Income Tax Appellate Tribunal, section 194I of the Income Tax Act, 1961, Rs. 1.8 lakhs, Tax Deducted at Source



ITAT, Delhi: Interest Can’t be Levied on Additional Income Declared under Modified Return(20.04.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the interest under sections 234B and 234C of the Income Tax Act, 1961 for non/short payment of adv.....

Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, advance tax installment, advance pricing agreement



ITAT, Mumbai: Architect Fee Paid in Connection with Transfer of Development Rights Allowable(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the architect fee paid by the assessee regarding the transfer of development rights are allowa.....

Tags : Income Tax Appellate Tribunal, architect fee, assesse, section 48 of the Income Tax Act, 1961, capital gain



Supreme Court Upholds Constitutional Validity of Amendments Related to Charitable Trust Registration(11.04.2022)

Supreme Court has upheld the constitutional legality of the recent amendments made in the Finance Act, 2020 with regard to the new provisions regardin.....

Tags : Supreme Court, constitutional legality, Finance Act, 2020, Income Tax Act, 1961, religious trusts



Delhi HC: Section 10 of CPC Does Not Lay an Embargo in Proceeding with Arbitration(11.04.2022)

Delhi High Court has held that Section 10 of the Code of Civil Procedure, 1908 does not lay an embargo in proceeding during the pendency of insolvency.....

Tags : Delhi High Court, Section 10 of the Code of Civil Procedure, 1908, embargo, insolvency proceedings, Provincial Insolvency Act, 1920



ITAT, Bangalore: No Rationale in Making Additions to Income on Violation of RBI Notifications(11.04.2022)

Income Tax Appellate Tribunal, Bangalore has observed that there is no rationale in the action of the Assessing Officer of making additions to income .....

Tags : Income Tax Appellate Tribunal, rationale, Assessing Officer, assesse, Section 68 of the Income Tax Act, 1961, Reserve Bank of India



ITAT, Bangalore: Agricultural Land Not Converted at Time of Sale Not Included as Capital Gain(11.04.2022)

Income Tax Appellate Tribunal, Bangalore has observed that since the agricultural land was not converted at the time of sale, the sale consideration s.....

Tags : Income Tax Appellate Tribunal, agricultural land, sale consideration, Income Tax Act, 1961, assessee



ITAT, Mumbai: Depreciation Allowable on Marketing Information and Non-Compete Fee(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the depreciation is allowable on intangible assets such as marketing information comprising of.....

Tags : Income Tax Appellate Tribunal, depreciation, intangible, marketing information, Commercial information, Customer data, Distribution network, Suppliers contract, Non-compete fees



ITAT, Mumbai: Circular Due to Difficulties in E-filing Software Can’t be Relied(11.04.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that the private discretionary trust shall be treated as AoP and has rejected the plea of the assessee.....

Tags : Income Tax Appellate Tribunal, AoP, CBDT, software, private discretionary trust



Delhi HC: Exemption Cannot be Denied to Charitable Entity for Advertising Scholarship(12.04.2022)

Delhi High Court has observed that the exemption under the provisions of the Income Tax Act, 1961 can’t be denied to a charitable entity merely becaus.....

Tags : Delhi High Court, exemption, Income Tax Act, 1961, scholarship



Delhi HC Dismisses Tax Appeals Against Moser Baer in View of Liquidation Proceedings(12.04.2022)

Delhi High Court has dismissed the appeals against Moser Baer, filed by the income tax department in the light of the liquidation proceedings pending .....

Tags : Delhi High Court, Moser Baer, Liquidation Proceedings, income tax department, National Company Law Tribunal



Delhi HC: Sufficiency or Correctness of Material Need not be Considered During Issue of Notice(12.04.2022)

Delhi High Court has observed that the sufficiency or correctness of the material is not a thing to be considered at the stage of issue of notice unde.....

Tags : Delhi High Court, Section 148 of the Income Tax Act, 1961



Delhi HC: Scholarship by Hamdard Foundation Eligible for Exemption Under Income Tax Act(12.04.2022)

Delhi High Court has upheld the factual findings that the merit-cum scholarship/financial assistance provided by Hamdard National Foundation was not c.....

Tags : Delhi High Court, factual findings, merit-cum scholarship, financial assistance, Hamdard National Foundation, Section 11 of Income Tax Act, 1961



ITAT, Bangalore: Income Tax Penalty Can’t be Imposed on Expenditure Due to Wrong Professional Advice(29.04.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that the income tax penalty under section 271(1) of the Income Tax Act, 1961 cannot be imposed for .....

Tags : Income Tax Appellate Tribunal, income tax, section 271(1), Income Tax Act, 1961, Chartered Accountant



ITAT, Bangalore: Subsidy Expenditure Does Not Attract TDS Provision(29.04.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that subsidy expenditure not attracts Tax Deducted at Source provision and set asides the order dis.....

Tags : Income Tax Appellate Tribunal, Tax Deducted at Source, Section 40(a)(ia), Income Tax Act, 1961



ITAT, Chennai: Subscription Money received From Customers Shall be Treated as Deferred Income(29.04.2022)

Income Tax Appellate Tribunal, Chennai has ruled that the subscription monies received in advance by the Company shall be treated as deferred income a.....

Tags : Income Tax Appellate Tribunal, subscription monies, deferred income, methodology



ITAT, Delhi: Revisional Jurisdiction Can be Invoked in Very Gross Case of Inadequacy in Inquiry(29.04.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the Revisional jurisdiction under section 263 of the Income Tax Act, 1961 can be invoked in a very.....

Tags : Income Tax Appellate Tribunal, revisional jurisdiction, section 263, Income Tax Act, 1961



ITAT, Delhi: Amount from Indian Associate for Support Service is not Fees and not liable to Tax(02.05.2022)

Income Tax Appellate Tribunal, Delhi has observed that amount expected from Indian Associate for Support Service is not Fees for Included Services and.....

Tags : Income Tax Appellate Tribunal, Indian Associate, Support Service



ITAT, Lucknow: Clerical Mistake in Audit Report Form 10B Can be Rectified(02.05.2022)

Income Tax Appellate Tribunal, Lucknow has observed that the clerical mistakes in audit report form 10B can be rectified and the same should not be a .....

Tags : Income Tax Appellate Tribunal, form 10B, Audit Report



ITAT, Delhi: Interest Can’t be Levied on Additional Income Declared under Modified Return(20.04.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the interest under sections 234B and 234C of the Income Tax Act, 1961 for non/short payment of adv.....

Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, advance tax installment, advance pricing agreement



ITAT Hyderabad: Ignorance of Law Concerning Compulsory Audit Not Reasonable for Deleting Penalty(21.04.2022)

Income Tax Appellate Tribunal, Hyderabad has held that mere ignorance of law under Section 44AB of the Income Tax Act, 1961 for compulsory audit of ac.....

Tags : Income Tax Appellate Tribunal, ignorance of law, Section 44AB of the Income Tax Act, 1961, Section 273B



Chhattisgarh HC: Issuance of Reassessment Notice Valid on Ground Disclosure of Bogus Purchase Bills(21.04.2022)

Chhattisgarh High Court has observed that the reassessment notice under Section 148 of the Income Tax Act,1961 is valid on the grounds of disclosure p.....

Tags : Chhattisgarh High Court, reassessment, Section 148 of the Income Tax Act,1961, bogus



ITAT, Ahmedabad: Higher Rate of Depreciation Available to Vehicles Let Out on Hire(22.04.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that the assessee can avail higher rate of depreciation that is accessible to vehicles to let out o.....

Tags : Income Tax Appellate Tribunal, assessee, higher rate, depreciation



ITAT, Ahmedabad: Payments to Medical Labs for Screening of Sickle Cell Anemia Subject to TDS(22.04.2022)

Income Tax Appellate Tribunal, Ahmedabad has held that under sections 194J and 194C of the Income Tax Act, 1961 is applicable to the payments made to .....

Tags : Income Tax Appellate Tribunal, Income Tax Act, sickle cell anemia, medical labs



ITAT, Chennai: No TDS on Advertisement Expenses Paid to Online Platforms(22.04.2022)

Income Tax Appellate Tribunal, Chennai, while granting relief to Matrimony.com, has held that Tax Deducted at Source shall not be paid on advertisemen.....

Tags : Income Tax Appellate Tribunal, Matrimony.com, Tax Deducted at Source, advertisement expenses, Facebook Ireland



ITAT, Bangalore: Irrecoverable Advances for Land for Real Estate Development Business Allowable(02.05.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that the advances agreed for purchase of land in the normal course of business of carrying on real .....

Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, Real estate development



ITAT, Bangalore: Non-Appearance of Assessee During Hearing Can’t be Reason to Recall Tribunal Order(02.05.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that the Tribunal cannot recall an order by invoking Rule 25 of the Appellate Tribunal Rules, 1963 .....

Tags : Income Tax Appellate Tribunal, Rule 25, Appellate Tribunal Rules, 1963, assessee



ITAT, Ahmedabad: Undisclosed Sale Consideration of Property Can Only Assessable as Capital Gain(02.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that the undisclosed sale consideration of the property can be subjected to tax as capital gain und.....

Tags : Income Tax Appellate Tribunal, capital gain, section 48, Income Tax Act, 1961, Undisclosed sale consideration



Bombay HC: Assessee Deprived of Refund Due to Wrongful Withholding of Amount by Income Tax Dept(03.05.2022)

Bombay High Court has allowed 6% interest to the assessee on wrongful withholding of the amount by the income tax department.

Tags : Bombay High Court, 6% interest, assessee, income tax department



ITAT, Bangalore: Wife Eligible for Capital Gain release if Money Given for Acquisition of Property(03.05.2022)

Income Tax Appellate Tribunal, Bangalore has held that the wife is eligible for capital gain exemption regarding the money given for the acquisition o.....

Tags : Income Tax Appellate Tribunal, reimbursement, capital gain, acquisition



ITAT, Ahmedabad: CIT(A) Shall Condone Delay and Dispose Appeal on Merits(03.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that the Commissioner (Appeals) shall condone the delay and dispose the appeal on merits if the ass.....

Tags : Income Tax Appellate Tribunal, malafide manner, assessee



ITAT, Allahabad: Amount of Share of Conversion of Leasehold Land Allowed as Cost of Improvement(12.07.2021)

Income Tax Appellate Tribunal (ITAT), Allahabad has held that the amount paid by a co-owner of the property towards his share for conversion of afores.....

Tags : Income Tax Appellate Tribunal, Amount of Share of Conversion of Leasehold Land



ITAT: Income Tax Penalty U/S 271E Cannot be Levied In Absence of Regular Assessment(13.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that the income tax penalty under Section 271E of the Income Tax Act, 1961 cannot be levied in the .....

Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, Section 271E, assessee



ITAT: Non-Cooperation With Dept Cannot be Sole Ground for Addition U/S 69A(13.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that mere non-cooperation with the department cannot be the sole ground to make an addition under S.....

Tags : Income Tax Appellate Tribunal, Section 69A, Income Tax Act, 1961



ITAT States That Consideration Paid For Purchase Of Advertisement Space Does Not Amount To 'Royalty'(16.05.2022)

Chennai Bench of ITAT has held that consideration paid for purchase of advertisement space does not amount to 'royalty' under the Income Tax Act, 1961

Tags : ITAT Chennai, Royalty, Income Tax Act



Orissa HC: Commission Paid To Persons Who Are Not Beneficial to Business of Assessee is Taxable(16.05.2022)

Orissa High Court while dismissing a challenge against an order of the Income Tax Appellate Tribunal which disallowed commission expenses as claimed b.....

Tags : Orissa High Court, Income Tax Appellate Tribunal



Calcutta HC: Reassessment Order Passed Without Issuance of Notice Is Invalid(16.05.2022)

Calcutta High Court has ruled that the reassessment order passed without issuance of notice under Section 148 of the Income Tax Act, 1961 is not valid.....

Tags : Calcutta High Court, Section 148, Income Tax Act, 1961



Bombay HC: "No Work No Pay" Principle Cannot be Made Applicable in Extraordinary Circumstances(15.05.2020)

Bombay High Court has held that the principle of 'No Work No Pay' cannot be made applicable in such extraordinary circumstances prevailing in the coun.....

Tags : Bombay High Court, "No Work No Pay" Principle



Delhi HC Directs Cyber Cell of Delhi Police to Complete Investigation Expeditiously(18.05.2020)

Delhi High Court has directed the Cyber Cell Unit of the Delhi Police to complete the investigation expeditiously and file a report in the concerned C.....

Tags : Delhi High Court, Bois Locker Room Incident



CBDT Relaxes Electronic Filing of Income Tax Forms 15CA / 15CB in View of Technical Difficulties(15.06.2021)

Central Board of Direct Taxes (CBDT) has relaxed the Electronic Filing of Income Tax Forms 15CA / 15CB, in view of the difficulties reported by taxpay.....

Tags : Central Board of Direct Taxes, Electronic Filing of Income Tax Forms 15CA / 15CB



ITAT, Pune: Income from Sale of Software License Not ‘Royalty’ Under Indo-US DTAA(17.06.2021)

Income Tax Appellate Tribunal (ITAT), Pune has held that the income from the sale of software license cannot be treated as “royalty” for the purpose o.....

Tags : Income Tax Appellate Tribunal, Income from Sale of Software License



ITAT: Refund of Sewage Tax Constitute ‘Business Income’(23.05.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the refund of sewage tax would be assessed as business income as the same was earlier.....

Tags : ITAT, Sewage Tax, Income-Tax Act, 1961



ITAT: Product Development Expenditure is ‘Revenue’ in Nature(23.05.2022)

Income Tax Appellate Tribunal (ITAT), Pune bench has held that the expenditure incurred on testing and validation of the products is revenue in nature.....

Tags : ITAT, Income-Tax Act, 1961, Product Development Expenditure, Revenue



ITAT, Ahmedabad: Additions Cannot be Made to Assessee's Income on Basis of Document(03.05.2022)

Income Tax Appellate Tribunal , Ahmedabad has held that additions cannot be made to assessee's taxable income on the basis of documents that are decla.....

Tags : Income Tax Appellate Tribunal , Customs Excise and Service Tax Appellate Tribunal, service tax



ITAT, Ahmedabad: Deemed Rent Inapplicable to Property That is Stock-in-Trade(03.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that the concept of deemed rent can’t be applicable to the properties which are treated as stock-in.....

Tags : Income Tax Appellate Tribunal, stock-in-trade, deemed rent



Delhi HC: ITAT Final Arbiter of Facts, Its Order Can be Interfered Only if There is Question of Law(03.05.2022)

Delhi High Court has observed that the High Court can interfere with its order only if there is substantial question of law or there is manifest illeg.....

Tags : Delhi High Court, Income Tax Appellate Tribunal



ITAT, Delhi: Assessing Officer Cannot Apply Wrong Method in Lack of Audited Financials of AE(04.05.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the Assessing Officer cannot give benefit to the assessee for non-cooperation in providing audited.....

Tags : Income Tax Appellate Tribunal, associated enterprises, Assessing Officer



ITAT, Bangalore: TDS Not Applicable to Commission for Professional Service by Non Resident(04.05.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that Tax Deduction at Source is not applicable to commission for professional service by Nonresiden.....

Tags : Income Tax Appellate Tribunal, Tax Deduction at Source, professional service



Madras HC: Initiation of Malicious Prosecution by Income Tax Dept. is Abuse of Power(04.05.2022)

Madras High Court has ruled that the suppression of material facts, the intentional suggestion of falsehood and the non-application of mind shows that.....

Tags : Madras High Court, Income Tax department, malicious prosecution, falsehood



ITAT, Pune: Revisional Jurisdiction Cannot be Invoked Sans Illegality in Original Re-Assessment(16.05.2022)

Income Tax Appellate Tribunal (ITAT), Pune while quashing a revisional jurisdiction under Section 263 of the Income Tax Act, 1961, has ruled that the .....

Tags : Income Tax Appellate Tribunal (ITAT), Pune, revisional jurisdiction, Section 263, Income Tax Act, 1961



ITAT, Pune: Revisional Jurisdiction Cannot be Invoked Sans Illegality in Original Re-Assessment(16.05.2022)

Income Tax Appellate Tribunal (ITAT), Pune while quashing a revisional jurisdiction under Section 263 of the Income Tax Act, 1961, has ruled that the .....

Tags : Income Tax Appellate Tribunal (ITAT), Pune, revisional jurisdiction, Section 263, Income Tax Act, 1961



ITAT: Re-Assessment on Wrong Assumption And Information From Another Assessing Officer Invalid(16.05.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai has ruled that the reopening of assessment based on wrong assumption and information received from anothe.....

Tags : Income Tax Appellate Tribunal, assessing officer



ITAT, Kolkata: Disallowance U/S 14A Not to be Considered While Computing Book Profit(16.05.2022)

Income Tax Appellate Tribunal, Kolkata has ruled that the disallowance under Section 14A of the Income Tax Act, 1961 cannot be considered while comput.....

Tags : Income Tax Appellate Tribunal, Section 14A, Income Tax Act, 1961, book profit



ITAT, Kolkata: No Revision U/S 263 IT Act When AO Has Made Sufficient Enquiry(17.05.2022)

Income Tax Appellate Tribunal, Kolkata has ruled that no revision under Section 263 of the Income Tax Act, 1961 when Assessing Officer has made suffic.....

Tags : Income Tax Appellate Tribunal, Section 263, Assessing Officer



ITAT, Amritsar: Revisional Order Should be in Detail, Enriched With Facts(17.05.2022)

Income Tax Appellate Tribunal, Amritsar while quashing a revisional order, has observed that the order under Section 263 of the Income Tax Act, 1961 s.....

Tags : Income Tax Appellate Tribunal, Section 263, revisional



Supreme Court Uphold Over 90,000 Re-Assessment Notices Deeming them as Sec 148A Notices(05.05.2022)

Supreme Court upheld the reassessment notices under Section 148 of the unamended Income Tax Act which were issued beyond 01.04.2021 (the effective dat.....

Tags : Reassessment Notices, Income Tax Act, Section 148A, Supreme Court



ITAT: Outstanding Balances cannot be treated as ‘Bogus’ when Payment made through Banking Channels(05.05.2022)

Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has observed that the outstanding balances cannot be suspected as bogus when the payments to par.....

Tags : Income Tax Appellate Tribunal , Bogus Payments



SC rules in Favour of Revenue Department in Reassessment Dispute Case(05.05.2022)

Supreme Court by reversing the high court orders that had quashed income-tax notices under the old reassessment regime has held that notices issued un.....

Tags : Supreme Court, Finance Act, 2021, reassessment, old regime, income-tax notices



ITAT, Mumbai Deletes Transfer Pricing Adjustment on International Transaction(06.05.2022)

Income Tax Appellate Tribunal, Mumbai while ruling that Transfer Pricing Officer (TPO) has adopted the wrong Gross Profit Margin of the comparable com.....

Tags : Income Tax Appellate Tribunal, Transfer Pricing Officer, Gross Profit Margin, Transfer pricing



ITAT, Delhi: AO Cannot Apply Wrong Method to Determine Profit in Absence of Audited Financials(06.05.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the Assessing Officer cannot give benefit to the assessee for non-cooperation in providing audited.....

Tags : Income Tax Appellate Tribunal, Assessing Officer, audited financials



ITAT: Capital Gain Exemption Can't be Denied For Presence of Husband's Name in Purchase Document(06.05.2022)

Income Tax Appellate Tribunal, Bangalore has held that the capital gain exemption cannot be denied to the wife for the mere presence of the husband's .....

Tags : Income Tax Appellate Tribunal, capital gain, purchase document



CBDT Amends Rule 12 of Income Tax Rules Dealing with Return of Income(29.07.2021)

Central Board of Direct Taxes (CBDT) has notified Income-tax (20th Amendment) Rules, 2021 which seeks to amend Income-tax Rules, 1962. The Board has a.....

Tags : Central Board of Direct Taxes, Income-tax (20th Amendment) Rules, 2021



ITAT: Notice Issued U/S 271 IT Act Must Record the Specific Ground on Which it Initiated(01.06.2022)

Income Tax Appellate Tribunal (ITAT), Amritsar Bench has held that unambiguous statement in notice can strike off penalty imposed u/s 271 of the Incom.....

Tags : ITAT. Income-Tax Act, Notice



ITAT: Disallowance Can’t be Made on Payment to PF and ESI Before Due Date(01.06.2022)

Income Tax Appellate Tribunal (ITAT), Amritsar Bench has held that disallowance can’t be made on payment to PF and ESI before the due date u/s 139(1) .....

Tags : ITAT. Income-Tax Act, Disallowance



Delhi HC Quashes Charges U/S 132 IT Act for Lack of any Material on Record(01.06.2022)

Delhi High Court has quashed Criminal Charges u/s 132 of Income Tax Act without any material on record for prima facie satisfaction.

Tags : Delhi High Court, Income-Tax, Prima Facie



ITAT: Disallowance is Calculated Based on Average Value of Share(02.06.2022)

Income Tax Appellate Tribunal (ITAT), Pune Bench has held that as per Rule 8D(2)(iii) of Income-Tax Rule, 1962, the disallowance under Section 14A of .....

Tags : ITAT, Income Tax, Disallowance



ITAT: SIDC Eligible for Section 80IA Deduction for Interest on Land Premium on Industrial Parks(02.06.2022)

Income Tax Appellate Tribunal, Dehradun bench has held that State Infrastructure & Industrial Development Corporation of Uttarakhand Ltd. (SIDC) is el.....

Tags : ITAT, Income-Tax, SIDC, Deduction



ITAT: Revisional Jurisdiction Can be Invoked for Lack of Enquiry by Assessing Officer(06.06.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that lack of enquiry by the assessing officer invokes the jurisdiction of Principle Commis.....

Tags : ITAT, Assessing Officer, Income-Tax Act



ITAT: Investments Converted into Stock-in-Trade Can Avail Exemption U/S 10(38)(23.05.2022)

Income Tax Appellate Tribunal (ITAT), Pune has held that investment converted into stock in trade can avail exemption u/s 10(38) of Income Tax Act 196.....

Tags : ITAT, Income-Tax Act, 1961, Stock Trade, Investment



Meghalaya HC: Order Can’t be Passed U/s 148A(d) Without Taking Into account the Assessee’s Reply(23.05.2022)

Meghalaya High Court has held that no order can be passed under Section 148A(d) of the Income Tax Act, 1961, without taking into consideration reply f.....

Tags : Meghalaya High Court, Assessee, Income-Tax Act, 1961



Meghalaya HC Quashes Re-Assessment on Ground of Non-consideration of Objection Filed by Assessee(24.05.2022)

Meghalaya High Court has quashed a re-assessment under Section 148(d) of the Income Tax Act, 1961 on the ground that the same was passed without consi.....

Tags : Meghalaya High Court, Re-Assessment, Income-Tax Act, 1961



ITAT: Dividend Received by Builder not Subject to DDT Shall Assessable as ‘Other Income’(24.05.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the dividend income received by the assessee, a builder, which is not subject to Divi.....

Tags : ITAT, Dividend Distribution Tax, Income from other sources



ITAT: Loss Out of Non-Speculative Transactions Can be Set off Under the Head of Regular Business(25.05.2022)

Income Tax Appellate Tribunal (ITAT) has held that loss arose out of non-speculative transactions can be set off under the head of the regular busines.....

Tags : ITAT, CIT, Income Tax Act, 1961



ITAT Directs Fresh Adjudication as Assessee Failed to File Reply to Income Tax Notice Due to COVID(25.05.2022)

Income Tax Appellate Tribunal, Bangalore held that assessee could not respond to the notices in view of the pandemic situation, which has to be accept.....

Tags : ITAT, Income-Tax, Covid-19



ITAT, Ahmedabad: KYC Form is Prima Facie Proof For Address of Account Holder(17.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that Know Your Customer (KYC) Form is prima facie proof for address of account holder and upholds t.....

Tags : Income Tax Appellate Tribunal, Know Your Customer, cash deposits



ITAT, Kolkata: Non-Mentioning of Relevant Limb in Penalty Notice is Not Curable Defect(17.05.2022)

Income Tax Appellate Tribunal, Kolkata has ruled that the failure to mention a crucial limb in the penalty notice is not a curable defect, and the pro.....

Tags : Income Tax Appellate Tribunal, crucial limb, curable defect



Delhi HC: Change of Opinion Can’t be Reason to Believe to Obtain Income to Initiate Re-Assessment(18.05.2022)

Delhi High Court while dismissing an appeal by the Income tax department, has ruled that mere change of opinion cannot be a reason to believe that the.....

Tags : Delhi High Court, Income tax department, Sections 147, Sections 148, Income Tax Act, 1961



ITAT: Deduction U/S 80IA IT Act Cannot be Disallowed on Failure of Form No.10CCB Submission(19.05.2022)

Income Tax Appellate Tribunal, Bangalore has observed that the Claim of deduction under Section 80IA of Income Tax Act, 1961 cannot be disallowed only.....

Tags : Income Tax Appellate Tribunal, Section 80IA, From NO.10CCB, due date



ITAT: Income Tax Deduction for CAM Charges Included in Rent(19.05.2022)

Income Tax Appellate Tribunal, Bangalore has observed that Common Area Maintenance (CAM) Charges included in rent were allowable as a deduction.

Tags : Income Tax Appellate Tribunal, Common Area Maintenance, rent



Delhi HC: AO & PCIT Failed to Consider Balance of Convenience And Irreparable Injury(19.05.2022)

Delhi High Court has held that neither the Assessing Officer (AO) nor the Principal Commissioners of Income Tax (PCIT) have considered the three basic.....

Tags : Delhi High Court, Assessing Officer, Principal Commissioners of Income Tax, prima facie, balance of convenience, irreparable injury



Tripura HC Issues Notice Seeking Quashing of FIR Against Suo-Moto Complaint(19.08.2021)

Tripura High Court has issued notice to the State Government on a plea filed by Trinamool Congress General Secretary Abhishek Banerjee, MP Dola Sen, W.....

Tags : Tripura High Court, Khowai Police Station Incident



Supreme Courts Orders Stay on Disbursement of Compensation in 2012 Sea-Firing Incident(19.08.2021)

Supreme Court has ordered a stay on the disbursement of the compensation of 2 crores to the owner of the boat named "St Antony" which was attacked by .....

Tags : Supreme Court, Disbursement of Compensation in 2012 Sea-Firing Incident



Madras HC: Assessee Can be Prosecuted if Concealment of Income is Deliberate(27.06.2022)

Madras High Court has held that an assessee can be prosecuted for willfully and deliberately concealing his income by not filing his income tax return.....

Tags : Madras High Court, Income-Tax Return, Deliberate



Rajasthan HC: Police to Charge Married Couple for Police Protection if it Has Adequate Income(27.06.2022)

Rajasthan High Court has held that if the petitioner's income is more than taxable income under the Income Tax Act, Superintendent of Police after con.....

Tags : Rajasthan High Court, Taxable Income, Financial Charge



CBDT Notifies Special Courts for Trial of Offences Under Income Tax Act 1961(29.06.2022)

Central Board of Direct Taxes (CBDT) has notified Special Courts for Trial of Offences under the Income Tax Act, 1961 in Dehradun.

Tags : Central Board of Direct Taxes, Special Court, Income-Tax Act



ITAT: Multiple Flats on Different Floors Cannot be Treated as Single Residential House(29.06.2022)

Income Tax Appellate Tribunal (ITAT), Cuttack Bench has held that the multiple flats in different floors of the same building cannot be treated as a s.....

Tags : ITAT, Capital Gain Exemption, Income-Tax Act



ITAT: Section 147 of IT Act is not an Alternative to Section 263 of IT Act(06.06.2022)

Income Tax Appellate Tribunal (ITAT), Delhi bench while quashing Assessment Order under Section 147 of Income-Tax Act, 1961 without Jurisdiction has h.....

Tags : ITAT, Income-Tax Act, 1961, Alternative



ITAT: Payment Made by Mobile Service Provider for Roaming Can’t be Considered as Technical Service(06.06.2022)

Income Tax Appellate Tribunal (ITAT), New Delhi, has held that payment made by a one mobile service provider to another for roaming cannot be consider.....

Tags : ITAT, Income-Tax Act, 1961. Roaming, Technical Service



ITAT: Income Tax on Both Owner and GPA Holder on Same Income Amounts to Double Taxation(07.06.2022)

Income Tax Appellate Tribunal (ITAT), Visakhapatnam has held that levy of Income-tax on both landowner and GPA holder for the same income amounts to d.....

Tags : ITAT, Income-Tax Act, Double Taxation



ITAT: Belated Payment to PF/ESI Before Due Date for Filing Return is Deductable U/S 43B of IT Act(07.06.2022)

Income Tax Appellate Tribunal (ITAT), Allahabad has held that the belated payment of employee contribution to Provident Fund (PF)/Employees State Insu.....

Tags : ITAT, Income-Tax Act, PF/ESI



Delhi High Court Quashes Reassessment Order Issued Without Considering Reply Filed by Assessee(07.06.2022)

Delhi High Court has quashed the reassessment order issued by the department under Section 148A(d) of the Income Tax Act, without considering the repl.....

Tags : Delhi High Court, Income Tax Act, 1961, Reassessment



AAR: GST not Applicable on Lease Income From Residential Property(08.06.2022)

GST Authority for Advance Ruling (AAR), Maharashtra has held that the GST shall not be applicable on the lease income from the residential property.

Tags : AAR, GST, Lease Income



ITAT Disallows IT Deduction U/S 80IA as Income From Eligible Unit Not Shown in Gross Total Income(08.06.2022)

Income Tax Appellate Tribunal (ITAT), Cuttack bench has disallowed deduction under Section 80IA of Income-Tax Act, 1961 since income from eligible uni.....

Tags : ITAT, Income-Tax Act, Deduction



Delhi HC Stays Order Awarding One Extra Mark to Candidates for Incorrect Question(06.08.2021)

Delhi High Court has issued an ex parte ad interim stay on the single judge bench order which had ordered for one extra mark to be granted to candidat.....

Tags : Delhi High Court, Extra Mark to Candidates for Incorrect Question



CBDT Notifies Determination of Income of Specified Fund of Units Held by Non-Residents(11.08.2021)

Central Board of Direct Taxes (CBDT) has inserted Rule 21AJ under Income-tax Rules, 1962 which provides for the determination of income of a specified.....

Tags : Central Board of Direct Taxes, Determination of Income of Specified Fund of Units Held by Non-Residents



ITAT, Bangalore: Consideration for Sale of Software Not to be Treated as Royalty(13.08.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has ruled that consideration for the sale of software cannot be treated like royalty.

Tags : Income Tax Appellate Tribunal, Consideration for Sale of Software



ITAT: Proprietary Concern Not Required to Obtain Separate PAN(07.07.2022)

Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench has held that proprietary concern is not required to obtain a separate Permanent Account Number .....

Tags : ITAT, Permanent Account Number, Income-Tax Act



Delhi HC: Specifications of Invention Before & After Amendment Need Not Be Identical(07.07.2022)

Delhi High Court has held that amendments to a patent specification or claims prior to grant ought to be construed more liberally than narrowly, and o.....

Tags : Delhi High Court, Patent Specification, Inconsistent



ITAT: Income Tax Officials Bound to Follow CBDT Circular(08.07.2022)

ITAT: Income Tax Officials Bound to Follow CBDT Circular Income Tax Appellate Tribunal (ITAT), Cochin Bench has held that the circulars issued by the.....

Tags : ITAT, Income Tax Officials, CBDT Circulars



Delhi HC: AO & PCIT Failed to Consider Balance of Convenience And Irreparable Injury(19.05.2022)

Delhi High Court has held that neither the Assessing Officer (AO) nor the Principal Commissioners of Income Tax (PCIT) have considered the three basic.....

Tags : Delhi High Court, Assessing Officer, Principal Commissioners of Income Tax, prima facie, balance of convenience, irreparable injury



Bombay HC: Loss On Trading in Derivatives of Securities Not A Speculative Loss(19.05.2022)

Bombay High Court has ruled that transactions in respect of trading in derivatives carried out in a recognized stock exchange are excluded from the de.....

Tags : Income-Tax Act, Bombay High Court, ITAT, Finance Act



Non-Compliance of S. 148A Notice: Rajasthan HC asks Income Tax Dept to Follow SC Judgment(19.05.2022)

Rajasthan High Court has directed the income tax department to proceed with the notices quashed earlier under Section 148A of Income-Tax Act, 1961, in.....

Tags : Supreme Court, Rajasthan High Court, Section 148A Income-Tax Act 1961, Finance Act



ITAT: Revisional Order Based on Suspicion is Invalid(20.05.2022)

Income Tax Appellate Tribunal (ITAT), Chennai Bench, has held that the revisional order under Section 263 of the Income Tax Act, 1961 cannot be merely.....

Tags : Income Tax Appellate Tribunal, Revisional Order, Suspicion



ITAT: No Disallowance of PF/ESI Contributions on Account of Delay in Deposit(20.05.2022)

Income Tax Appellate Tribunal ( ITAT ), Delhi Bench has held that no disallowance of provident fund and Employees State Insurance contributions on acc.....

Tags : Income Tax Appellate Tribunal, Disallowance, Provident Fund, Delay in Deposit



Delhi High Court Quashes Reassessment Proceedings As Initiated Without Jurisdiction(20.05.2022)

Delhi High Court while quashing the re-assessment proceedings initiated by Income Tax Officer, Jaipur (ITO) has held that since the petitioner jurisdi.....

Tags : Delhi High Court, Income-Tax, Reassessment Proceedings, Assessing Officer



Allahabad HC: Reassessment Order Not Valid If Notice by Assessing Authority Is Without Jurisdiction(09.05.2022)

Allahabad High Court has held that once the notice under Section 148 of the Income Tax Act, 1961 issued by the assessing authority was declared withou.....

Tags : Allahabad High Court, Section 148, Income Tax Act, 1961, re-assessment order



ITAT: Salary Reimbursement based on Cost to Cost Cannot Attract TDS Liability u/s 195(09.05.2022)

Income Tax Appellate Tribunal, Bangalore has ruled that Tax Deduction at Source is not applicable to reimbursement of salary based on the cost to cost.....

Tags : Income Tax Appellate Tribunal, Section 195, Income Tax Act,1961, Tax Deduction at Source



ITAT, Bangalore: Assessment Cannot be Based on Presumptions U/S Section 153C of IT Act(09.05.2022)

Income Tax Appellate Tribunal, Bangalore while considering the directions from the Karnataka High Court has ruled that the assessment under Section 15.....

Tags : Income Tax Appellate Tribunal, assessment, Section 153C, presumption



ITAT Deletes Addition u/s 68 of IT Act, Says Firm not Taxable for Capital introduced by Partner(09.05.2022)

Income Tax Appellate Tribunal, Chennai has observed that the Firm cannot be made taxable for the capital introduced by the Partner as section 68 of th.....

Tags : Income Tax Appellate Tribunal, section 68, Income Tax Act, 1961



ITAT, Ahmedabad: Delay Due to Liquidation Proceedings Constitute Reasonable Cause(10.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that if dominion ownership of car rest with the assessee, the assessee is eligible for depreciation.....

Tags : Income Tax Appellate Tribunal, depreciation, assessee



ITAT, Ahmedabad: Third Party Shareholders Renouncing Rights Shares is Liable to Tax U/S 56(2)(10.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has ruled that third party shareholders renouncing rights shares in favour of the assesse are liable to tax u.....

Tags : Income Tax Appellate Tribunal, assesse, Section 56(2), Income Tax, 1961



SC Asks Madras HC to Decide Constitutional Validity of Section 40(a)(iib) of Income Tax Act(26.11.2020)

Supreme Court has directed the Madras High Court to decide the constitutional validity of Section 40(a)(iib) of the Income Tax Act, 1961.

Tags : Supreme Court, Constitutional Validity of Section 40(a)(iib) of Income Tax Act



ITAT, New Delhi Deletes Addition Against Hindustan Coca Cola Beverages(27.11.2020)

Income Tax Appellate Tribunal (ITAT), New Delhi has deleted the addition against Hindustan Coca Cola Beverages and has held that no tax is applicable .....

Tags : Income Tax Appellate Tribunal, Hindustan Coca Cola Beverages



Income Tax Appellate Tribunal, Delhi: 10% Presumptive Tax on Hiring of Security Guards(19.10.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has ruled that 10% Presumptive Tax shall be applicable on business of hiring security guards for customers.....

Tags : Income Tax Appellate Tribunal, Hiring of Security Guards



ITAT, Amritsar Allows Registration Under Section 12A to Educational Welfare Society(19.10.2021)

Income Tax Appellate Tribunal (ITAT), Amritsar has allowed Registration under Section 12A of the Income Tax Act, 1960 to an Educational Welfare Societ.....

Tags : Income Tax Appellate Tribunal, Educational Welfare Society



ITAT, Mumbai Quashes Demand of 6% of Value of Exempted Service as Job Work(20.10.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has quashed the demand of 6% of value of exempted service as job work is incidental and ancillary to manu.....

Tags : Income Tax Appellate Tribunal, Exempted Service



ITAT, Kolkata Deletes Addition as Interest on Loan After Deduction of TDS(22.10.2021)

Income Tax Appellate Tribunal (ITAT), Kolkata has deleted the addition as interest on Loan duly paid by the assessee after deducting Tax Deducted at S.....

Tags : Income Tax Appellate Tribunal, Interest on Loan After Deduction of TDS



ITAT: Father Can’t be Taxed for Cash Deposit in Bank Account Opened in The Name of Major Son(25.07.2022)

Income Tax Appellate Tribunal (ITAT), Pune Bench while deleting an addition for cash deposit, has held that the clubbing of income under the provision.....

Tags : ITAT, Minor Children, Income-Tax, Bank Account



ITAT, Delhi: Re-Assessment Based on Incorrect and Irrelevant Facts is Invalid(10.05.2022)

Income Tax Appellate Tribunal, Delhi has held that the re-assessment under section 148 of the Income Tax Act, 1961 invoked on the basis of incorrect a.....

Tags : Income Tax Appellate Tribunal, Income Tax Act, 1961, section 148



Delhi HC: Enhancement of Compounding Charges on Subsequent Offences is Valid(10.05.2022)

Delhi High Court has upheld an order of the income tax department imposing enhanced compounding charges on subsequent applications for compounding of .....

Tags : Delhi High Court, income tax department, Tax Deducted at Source



ITAT: If TDS Statement filed on Time Contains Technical Errors, No Late Fee Can be Charged(11.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has held that a late fee under section 234E of the Income Tax Act of 1961 cannot be imposed if a statement is.....

Tags : Income Tax Appellate Tribunal, section 234E, Income Tax Act



ITAT, Mumbai: Computers, Including Computer Software, Are Eligible to 60% Depreciation(11.05.2022)

Income Tax Appellate Tribunal, Mumbai has observed that depreciation of 60 % can be allowed to ‘computers including computer software’ under Rule 5 of.....

Tags : Income Tax Appellate Tribunal, Income Tax Appellate Tribunal Rules, depreciation, computers



Universal Music India Rejoices as Bombay HC Upholds ITAT Order(11.05.2022)

Bombay High Court in a major relief to Universal Music India, has upheld an order of the Income Tax Appellate Tribunal (ITAT) quashing a revisional or.....

Tags : Bombay High Court, Universal Music India, Income Tax Appellate Tribunal, section 263



ITAT, Chennai: Subscription Money Received in Advance by DTH Operators is Taxable(12.05.2022)

Income Tax Appellate Tribunal, Chennai has declared that subscription money received by direct-to-home (DTH) providers in advance is not taxable. The .....

Tags : Income Tax Appellate Tribunal, direct-to-home, subscription money



ITAT: Assessee Engaged in Generation and Selling of Power can Claim Deduction u/s 801 of ITA(26.05.2022)

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that assessee engaged in generation and selling of power can claim deduction u/s 801 of.....

Tags : ITAT, Income-Tax, Assessee



ITAT: No Income-tax Penalty for Unintentional Error in Form-16(30.05.2022)

Income Tax Appellate Tribunal (ITAT), Pune bench has held that income tax penalty cannot be imposed for committing an unintentional error on Form-16.

Tags : ITAT. Income Tax, Form 16



ITAT: Currency Derivative Can be Treated As An Eligible Transaction U/S 43(5)(30.05.2022)

Income Tax Appellate Tribunal, Delhi has observed that currency derivatives can be treated as eligible transactions under Section 43(5) of the Income .....

Tags : Income Tax Appellate Tribunal, transactions



ITAT: Amendment on Sec.36(1)(va) Has Prospective Effect(30.05.2022)

Income Tax Appellate Tribunal, Raipur while quashing the order confirming disallowances of Rs. 18,12,622/- out of employment contribution towards EPF/.....

Tags : Income Tax Appellate Tribunal, amendment, prospective



ITAT: Onus To Prove Identity, Creditworthiness Etc of Transaction Lies on Assessee(30.05.2022)

Income Tax Appellate Tribunal, Pune has observed that the onus to prove identity, creditworthiness, and genuineness of a transaction lies with the ass.....

Tags : Income Tax Appellate Tribunal, assessee



ITAT: Interest-bearing Unsecured Loans Are Allowable As Income Tax Deduction U/S 57(iii)(31.05.2022)

Income Tax Appellate Tribunal, Raipur observed that interest-bearing unsecured loans are allowable as deduction under Section 57(iii) of Income Tax Ac.....

Tags : Income Tax Appellate Tribunal, unsecured loans, deduction



ITAT: Expenditure on Maintenance, Back-Up, and Support Services is Revenue in Nature(31.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has observed that expenditure on maintenance, backup, and support services to existing hardware and software .....

Tags : Income Tax Appellate Tribunal, maintenance, backup, hardware, software



ITAT: Expenditure On Maintenance, Back-Up, and Support Services is Revenue in Nature(31.05.2022)

Income Tax Appellate Tribunal, Ahmedabad has observed that expenditure on maintenance, backup, and support services to existing hardware and software .....

Tags : Income Tax Appellate Tribunal, maintenance, backup, hardware, software



ITAT: Non-Issue of Proper Show Cause Notice Can be Fatal to Proceedings Under Income Tax Act(13.06.2022)

Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that non-issue of proper show-cause notice can be fatal to the proceedings under the In.....

Tags : ITAT, Income-Tax Act, Show Cause Notice



ITAT: Drawings Made for Non-Business Purposes are Not Allowable as Income Tax Deduction(13.06.2022)

Income Tax Appellate Tribunal (ITAT), Visakhapatnam bench has held that drawings made for non-business purposes are not allowable as a deduction under.....

Tags : ITAT, Deductions, Income-Tax



ITAT: Income Tax Notice sent to Dead Person is Invalid(15.06.2022)

Income Tax Appellate Tribunal (ITAT), Delhi Bench has quashed the re-assessment order passed by assessment officer on the ground that Income Tax Notic.....

Tags : ITAT, Income-Tax Notice, Dead person



ITAT: Income Tax Liability Won’t Arise for Unsecured Loan Transactions Done by Group Entities(16.06.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai Bench has held that income tax liability won’t arise for unsecured loan transactions done by group entiti.....

Tags : ITAT, Income-Tax Liability, Unsecured Loan



Rajasthan HC: Citizenship Can’t be Determined Based on Definition of ‘Resident’ Under IT Act(16.06.2022)

Rajasthan High Court has held that the definition of the term ‘resident’ under the Income Tax (IT) Act, 1961 is designed for including persons in the .....

Tags : Rajasthan High Court, Citizenship, Income-Tax Act



Bombay HC Reprimands Principal Chief Commissioners of Customs for Non-Representation in Cases(20.06.2022)

Bombay High Court while warning the Principal Chief Commissioners of customs for non-representation instructed that all Principal Chief Commissioners .....

Tags : Bombay High Court, Principal Chief Commissioners, Non-Representation



ITAT: Short Term Capital cannot be carried forward as it has not been claimed through a Return filed(21.06.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai Bench has held that short term capital cannot be carried forward as it has not been claimed through a ret.....

Tags : ITAT, Short Term Capital, Income-Tax Act



ITAT: Single Transaction of Buying and Selling of Shares Can’t be Treated as Business Activity(29.09.2021)

Income Tax Appellate Tribunal (ITAT), Chennai has held that a single transaction of buying and selling of shares cannot be treated as a business acti.....

Tags : Income Tax Appellate Tribunal, Single Transaction of Buying and Selling of Shares



ITAT, Chennai: Capital Gain Exemption Cannot be Denied to Assessee Merely on Basis of Facts(29.09.2021)

Income Tax Appellate Tribunal (ITAT), Chennai has held that the capital gain exemption under section 54F of the Income Tax Act, 1961 cannot be denied .....

Tags : Income Tax Appellate Tribunal, Capital Gain Exemption



CBDT Extends Time Period for Processing Income Tax Returns with Refund Claims(01.10.2021)

Central Board of Direct Taxes (CBDT) notified the extension of the time period for Processing returns with refund claims beyond prescribed time limits.....

Tags : Central Board of Direct Taxes, Income Tax Returns with Refund Claims



Delhi HC: Amendment to Section 36(1)(va) of Income Tax Act is Prospective in Nature(10.08.2022)

Delhi High Court has held that amendment to Section 36(1)(va) of Income-Tax Act, 1961, vide the Finance Act, 2021, is 'for removal of doubts' and henc.....

Tags : Delhi High Court, Income-Tax Act, Prospective



ITAT: Domestic Transaction from a Related Party is Not a Specified Domestic Transaction(10.08.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai Bench has held that a domestic transaction from a related party is not a specified domestic transaction u.....

Tags : ITAT, Income-Tax, domestic Transaction



ITAT: Income Tax Appeal Not Maintainable During the Course of IBC Proceedings(16.08.2022)

Income Tax Appellate Tribunal (ITAT), Hyderabad Bench has held that an Income tax appeal is not maintainable during Insolvency and Bankruptcy Code (IB.....

Tags : ITAT, Income Tax Appeal, IBC



ITAT, Bangalore Stays Recovery of Outstanding Tax Arrears Against Google India(14.12.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has stayed the recovery of outstanding tax arrears to the tune of Rs.1260.56 Crores against Google Ind.....

Tags : Income Tax Appellate Tribunal, Google India



ITAT, Bangalore Directs Assessing Officer to Re-Adjudicate Matter of Wipro GE Healthcare(14.12.2020)

Income Tax Appellate Tribunal (ITAT), Bangalore has directed the Assessing Officer to re-adjudicate the matter of Wipro GE Healthcare in respect of tr.....

Tags : Income Tax Appellate Tribunal, Wipro GE Healthcare



ITAT: Share Application Money is ‘Capital Asset’ Under Income Tax Act(18.12.2020)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that Share Application Money is ‘Capital Asset’ for the purpose of Income Tax Act, 1961.

Tags : Income Tax Appellate Tribunal, Share Application Money



ITAT: BCCI Can't Be Denied Income Tax Exemption Just Because IPL Makes Profits(15.11.2021)

Income Tax Appellate Tribunal has held that the Board of Control for Cricket in India (BCCI) is entitled to registration under Section 12A of the Inco.....

Tags : Income Tax Appellate Tribunal, Board of Control for Cricket in India



Delhi HC: No Income Tax on Interest Income from FD Till Ownership Determined by Arbitral Tribunal(13.10.2022)

Delhi High Court has held that income tax cannot be levied on the interest income from fixed deposits (FD) till the ownership is determined by the arb.....

Tags : Delhi High Court, Income-Tax, Fixed Deposits



ITAT, Jaipur: Equalisation Levy Not Applicable Where Target Audience Are Outside India(14.10.2022)

Income Tax Appellate Tribunal, Jaipur has observed that an equalisation levy is not payable on advertising payments where advertisers or the target au.....

Tags : Income Tax Appellate Tribunal, equalisation levy, advertisers



ITAT: Cess Received By Trust From Milk Societies, Not Voluntary; Can't Be Corpus Donation(17.10.2022)

Income Tax Appellate Tribunal, Ahmedabad has held that the Cess received by a trust from the milk supplying societies, against the sales made by them .....

Tags : Income Tax Appellate Tribunal, Cess, Corpus Donation



SC Allows Centre to Further Disinvest Shares In Hindustan Zinc Ltd., Orders CBI Investigation(18.11.2021)

Supreme Court has ruled that the Union of India may disinvest its residual shareholding of 29.5% in Hindustan Zinc Ltd. The Court has also directed th.....

Tags : Supreme Court, Shares In Hindustan Zinc Ltd



Allahabad High Court Orders Enquiry into Lucknow District Court Violence Incident(19.11.2021)

Allahabad High Court has ordered an inquiry into the violent behavior of the lawyers outside the Lucknow District Court campus on October 30, stressin.....

Tags : Allahabad High Court, Enquiry into Lucknow District Court Violence Incident



SC: Deceased Without Any Income, Legal Heirs Entitled to Future Prospects of Rise in Income(19.11.2021)

Supreme Court has observed the even in case of a deceased who had no income at the time of death, their legal heirs shall also be entitled to future p.....

Tags : Supreme Court, Deceased Without Any Income



Kerala HC: Substantial Distinction Between Consent and Submission to Sexual Intercourse(19.11.2021)

Kerala High Court has held that there is a substantial distinction between consent and submission to sexual intercourse. The Court has observed that m.....

Tags : Kerala High Court, Distinction Between Consent and Submission to Sexual Intercourse



Kerala HC: Taking DNA Samples of Rape Accused Does Not Violate His Right Against Self-Incrimination(02.11.2022)

Kerala High Court has held that the protection guaranteed under Article 20(3) of the Constitution of India does not extend to protecting an accused fr.....

Tags : Kerala High Court, Self-Incrimination, DNA Sample



ITAT, Jaipur Allows Deduction u/s 54F on Residential House Property Purchased in Name of Wife(07.04.2021)

Income Tax Appellate Tribunal (ITAT), Jaipur has allowed the deduction under section 54F of the Income Tax Act, 1961 in respect of residential house p.....

Tags : Income Tax Appellate Tribunal, Deduction u/s 54F on Residential House Property



AAR, Karnataka: 18% GST Payable on Income Earned Through Guest Lectures(17.02.2022)

Authority of Advance Ruling (AAR), Karnataka has ruled that 18% goods and services tax is payable on Income earned from conducting guest lectures.

Tags : Authority of Advance Ruling, Income Earned Through Guest Lectures



SC Dismisses BJP Members' Petition Challenging Increase of Seats in Mumbai Corporation(18.02.2022)

Supreme Court has dismissed a petition challenging the Maharashtra Ordinance which increased the electoral seats in the Municipal Corporation of Great.....

Tags : Supreme Court, Increase of Seats in Mumbai Corporation



ITAT, Mumbai: AOP Running Educational Institution Eligible For Exemption(22.02.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that an unregistered Association of Persons (AOP), formed by an agreement merging two charitable Trust.....

Tags : Income Tax Appellate Tribunal, AOP Running Educational Institution



ITAT, Chennai Allows Loss on Investment in Subsidiary Company as Business Loss(23.02.2022)

Income Tax Appellate Tribunal (ITAT), Chennai has allowed the loss on investment made in subsidiary company for increasing business expediency to be w.....

Tags : Income Tax Appellate Tribunal, Loss on Investment in Subsidiary Company



ITAT: Hire Charges Received by Owner Under ‘Time Charter Agreement’ Not Taxable As Royalty(23.01.2023)

Income Tax Appellate Tribunal, Mumbai has ruled that hire charges received by the owner of a ship for chartering its vessel under a ‘Time Charter Agre.....

Tags : Income Tax Appellate Tribunal, Time Charter Agreement, taxable



ITAT, Bangalore: Omission to Serve Notice u/s 143(2) of Income Tax Act is Not a Curable Defect(21.12.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore, while deleting an assessment order held that the omission to serve a notice under section 143(2) of t.....

Tags : Income Tax Appellate Tribunal, Omission to Serve Notice



Bombay HC Rejects Petition Challenging Show Cause Notice Issued By Income Tax Department(20.12.2021)

Bombay High Court has rejected a petition filed by Maharashtra Cabinet Minister Chhagan Bhujbal challenging a show cause notice issued by the Income T.....

Tags : Bombay High Court, Show Cause Notice Issued By Income Tax Department



Delhi HC Directs Release of Child in Conflict with Law Incarcerated in Observation Home(23.12.2021)

Delhi High Court has directed the release of a child in conflict with law who was incarcerated in an observation home despite an order passed by the J.....

Tags : Delhi High Court, Child in Conflict with Law Incarcerated in Observation Home



ITAT: VAT Expenses on Deemed Import Eligible to be Set Off Against VAT Output(31.12.2021)

Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that the Value Added Tax (VAT) expenses on deemed import are eligible to be set off against t.....

Tags : Income Tax Appellate Tribunal, VAT Expenses on Deemed Import



SC: Burden Upon Defence to Prove Mental Incapacity of Accused(03.01.2023)

Supreme Court while upholding conviction of man accused of killing his two sons, has held that where the accused is charged of murder, the burden to p.....

Tags : Supreme Court, Mental Incapacity, Burden



SC: WP Can be Allowed to Examine if Conditions to Issue Notice U/S 148 IT Act Are Satisfied(09.01.2023)

Supreme Court has held that writ petitions can been entertained to examine whether the conditions for the issuance of notice under Section 148 of the .....

Tags : Supreme Court, Writ Petitions, Income-Tax, Notice



SC Strikes Down Section 10(26AAA) Income Tax Act as Unconstitutional(16.01.2023)

Supreme Court while striking down exemption provision under Section 10(26AAA) Income Tax Act as unconstitutional for excluding Sikkimese woman because.....

Tags : Supreme Court, Section 10(26AAA) Income Tax Act, Unconstitutional, Sikkimese woman



ITAT, Bangalore: Employee Contribution to Provident Fund Before ITR Eligible for Deduction(03.03.2022)

Income Tax Appellate Tribunal (ITAT), Bangalore has ruled that an Employee contribution to Provident Fund (PF)/ Employee State Insurance (ESI) before .....

Tags : Income Tax Appellate Tribunal, Employee Contribution to Provident Fund



ITAT, Delhi: House Rent Allowance Exemption Allowable on Rent Paid to Spouse(04.03.2022)

Income Tax Appellate Tribunal (ITAT), Delhi has held that Income Tax Act, 1961 does not prohibit claiming house rent allowance (HRA) exemption on the .....

Tags : Income Tax Appellate Tribunal, House Rent Allowance



Madhya Pradesh HC Refuses to Grant Custody to Mother on Children’s Inclination Towards Father(04.03.2022)

Madhya Pradesh High Court has refused to pass an order of child custody in favour of the Appellant-mother, upon noting that the children themselves ha.....

Tags : Madhya Pradesh High Court, Custody, Inclination Towards Father



MP HC Imposes Cost on Police Officer for Furnishing Incorrect Information to Court(07.03.2022)

Madhya Pradesh High Court has imposed a cost of Rs. 25,000 on a Station House Officer for providing incorrect information to the Court regarding crimi.....

Tags : Madhya Pradesh High Court, Furnishing Incorrect Information to Court



ITAT, Delhi: Income Tax Notice, Revisionary Proceedings Against Dead Person is Void(07.03.2022)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the notice issued against a dead person is null and void and all consequent proceedings or o.....

Tags : Income Tax Appellate Tribunal, Revisionary Proceedings Against Dead Person



ITAT, Mumbai: Sale of Transferable Development Rights Does Not Attract Capital Gains Tax(07.03.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that sale of transferable development rights does not attract capital gains tax since the cost of acqu.....

Tags : Income Tax Appellate Tribunal, Sale of Transferable Development Rights



All HC: Reassessment Proceedings for AY 2013-14, 2014-15 Initiated After 1 April 2021 Must be Closed(27.02.2023)

Allahabad High Court while observing that Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 has held that time limit .....

Tags : Allahabad High Court, Reassessment Proceedings, Income-Tax



Calcutta HC Quashes Re-Assessment Passed Without Application of Mind(04.04.2022)

Calcutta High Court has observed that the re-assessment passed under section 148 of the Income Tax Act, 1961 without the application of mind is not su.....

Tags : Calcutta High Court, section 148 of the Income Tax Act, 1961, Quashment of Re-Assessment



ITAT, Mumbai: Amount Spent on Consumable Items can’t be Claimed as Improvement Cost(04.04.2022)

Income Tax Appellate Tribunal, Mumbai has observed that the amount spent on consumable items including sofa, tiles, etc., can’t be claimed as cost .....

Tags : Income Tax Appellate Tribunal, improvement cost, Income Tax Act, 196, capital gain



ITAT, Mumbai: Revisional Jurisdiction Can’t be Invoked , Order of Assessment Without Reasons(04.04.2022)

Income Tax Appellate Tribunal, Mumbai, has observed that the revisional jurisdiction under section 263 of Income Tax Act, 1961 cannot be invoked while.....

Tags : Income Tax Appellate Tribunal, revisional jurisdiction, Section 263 of the Income Tax Act, 1961, M/s Reliance Payment Solutions Pvt Ltd



Gujarat HC: No Show Cause Notice Issued Along With Draft Assessment Order u/s 144B(04.04.2022)

Gujarat High has observed that the issuance of a show cause notice along with the draft assessment order is absolutely important before passing an ord.....

Tags : Gujarat High Court, draft assessment order, Section 144B of the Income Tax Act



Calcutta HC: Reasons Recorded in 142(1) Notice Not Existing at Issue of Re-Assessment Notice(05.04.2022)

Calcutta High Court has observed that the reasons mentioned in the notice under Section 142(1) and Section 147 of the Income Tax Act, 1961 were not ex.....

Tags : Calcutta High Court, Section 142(1), Section 147 of the Income Tax Act, 1961, re-assessment notice



SC: 2015 Amendment to S. 153C of IT Act Will have Retrospective Application(06.04.2023)

Supreme Court has held that amendment to Section 153C of Income Tax (IT) Act 1961 by Finance Act 2015 will retrospectively apply to searches conducted.....

Tags : Supreme Court, Income Tax, Section 153C, Retrospective Application



Delhi HC: ITAT Ought to Set Aside Ex-Parte Order(24.12.2020)

Delhi High Court has held that the Income Tax Appellate Tribunal (ITAT) is ought to set aside ex-parte order, irrespective of final order decided the .....

Tags : Delhi High Court, Income Tax Appellate Tribunal, Ex-Parte Order



ITAT, Mumbai: Tata Trusts to Continue to be Exempt from Payment of Taxes(29.12.2020)

Income Tax Appellate Tribunal, Mumbai has quashed revisionary orders passed by the Commissioner (exemptions), which would have resulted in three Tata .....

Tags : Income Tax Appellate Tribunal, Tata Trusts



Delhi HC Issues Notice on Complainant's Plea Challenging Anticipatory Bail of MP Prince Paswan(28.10.2021)

Delhi High Court has issued notice on the plea filed by complainant challenging the anticipatory bail granted to Lok Janshakti Party MP Prince Paswan .....

Tags : Delhi High Court, Anticipatory Bail of MP Prince Paswan



CBDT Notifies MP, Chandigarh Pollution Control Board Eligible for Income Tax Exemption(01.11.2021)

Central Board of Direct Taxes (CBDT) has notified the Madhya Pradesh and Chandigarh Pollution Control Board, Gujarat State Aids Control Society eligib.....

Tags : Central Board of Direct Taxes, Income Tax Exemption



Ker HC: Distinction b/w Murder and Culpable Homicide not Amounting to Murder Must Not be Overlooked(16.08.2023)

Kerala High Court has observed that the distinction between murder and culpable homicide not amounting to murder must not be overlooked as it would re.....

Tags : Kerala High Court, Distinction, Murder, Culpable Homicide



SC: Principle of Mutuality not Applicable to Income from Deposits in Member Banks(21.08.2023)

Supreme Court has held that if any income is earned by the Clubs through deposits made by clubs in banks that are members of the club, such income wou.....

Tags : Supreme Court, Principle of Mutuality, Clubs, Banks



ITAT, Delhi: Amendments to Sections 43B and 36(1)(va) IT Act Can’t Have Retrospective Effect(02.05.2022)

Income Tax Appellate Tribunal, Delhi has ruled that the amendments to sections 43B and 36(1)(va) of the Income Tax Act, 1961 cannot have retrospective.....

Tags : Income Tax Appellate Tribunal, sections 43B, sections 36(1)(va), Income Tax Act, 1961, retrospective effect



Delhi HC: Writ Remedy Cannot be Invoked in Tax Matters(02.05.2022)

Delhi High Court has held that the writ remedy under Article 226 of the Indian Constitution cannot be invoked in tax matters as the Income Tax Act, 19.....

Tags : Delhi High Court, article 226, Indian Constitution, Income Tax Act, 1961



ITAT, Cuttack: Source of Money Cannot be Doubted if Fixed Deposits Are Made Out of Savings(02.05.2022)

Income Tax Appellate Tribunal, Cuttack has observed that the cause of money cannot be doubted if the fixed deposits are made out of the savings of the.....

Tags : Income Tax Appellate Tribunal, fixed deposits, assessee



SC: In the Absence of Incriminating Material, AO Can’t Make Additions to Completed Assessment(26.04.2023)

Supreme Court has held that in case of completed assessment, if no incriminating material is found during search, the only remedy available to revenue.....

Tags : Supreme Court, Incriminating Material, Completed Assessment, Reassessment



Constitutional Validity of S. 71(3A) of IT Act Upheld by Delhi High Court(03.06.2024)

Delhi High Court has upheld the constitutional validity of Section 71(3A) of the Income Tax Act, 1961 which was added by Section 31 of the Finance Act.....

Tags : Delhi High Court, Constitutional Validity, Income Tax Act, 1961



MP HC: Can’t Sustain Proc. Against Accomplice for Fraud When Proc. Against Principal Borrower Closed(04.06.2024)

Madhya Pradesh High Court has observed that accomplices involved in the offence of fraud cannot be prosecuted once proceedings initiated against the p.....

Tags : MP High Court, Principal Borrower, Accomplice



ITAT: Customs House Agent Bound to Pay TDS on Payment to CFS Agents(25.03.2022)

Income Tax Appellate Tribunal (ITAT), Chennai has held that the Customs House Agent bound to pay TDS under section 194C of the Income Tax Act, 1961 on.....

Tags : Income Tax Appellate Tribunal, TDS on Payment to CFS Agents



ITAT: Employers Must Deposit Contribution Towards EPF/ESI on Time to Avail IT Deduction(18.03.2023)

Income Tax Appellate Tribunal (ITAT), Delhi bench has held that employers have to deposit employees' contributions towards EPF/ESI on time to avail of.....

Tags : ITAT, EPF/ESI, Income Tax Deductions, EPF/ESI



Principles of Condonation of Delay Explained by Supreme Court(10.04.2024)

SC has laid down certain principles of condonation of delay which include that merits of the case are not required to be considered in condoning the d.....

Tags : Supreme Court, Condonation of Delay, Principles



Del. HC: ITSC Can Only Grant Immunity from Penalty & Prosecution in Case of Full & True Disclosure(15.04.2024)

Delhi High Court has held that the power to grant immunity from penalty and prosecution is entrusted to the Income Tax Settlement Commission (ITSC) on.....

Tags : Delhi High Court, Income Tax Settlement Commission, Penalty & Prosecution, True Disclosure



Ker. HC: Assessment Order Quashed on Finding that Assessee Not Provided Effective Hearing(16.04.2024)

Ker. HC quashed an assessment order passed under the Income Tax Act, 1961, and held that since the assessee was not able to log in through link for vi.....

Tags : Kerala High Court, Assessment Order, Income Tax Act, 1961, Principles of Natural Justice



Del. HC Directs Dept. to Remove Demands From ITBA Portal as it Fails to Comply with ITAT's Order(19.04.2024)

Delhi HC has directed the Income-tax Department to remove the demands & penalty imposed upon the Assessee from ITBA portal, refund the amount lying wi.....

Tags : Delhi High Court, Income-tax Department, ITBA Portal



SC: No Penalty Under S.271C of IT Act for Mere Delay in Remittance of TDS(11.04.2023)

Supreme Court while observing that words used in Section 271C(1)(a) are ‘fails to deduct’, and the same doesn’t speak about belated remittance of TDS,.....

Tags : Supreme Court, TDS, Remittance, Income Tax Act



SC: Can’t Deny Increment Merely Because Employee Retired Next Day of Earning it(12.04.2023)

Supreme Court has held that merely because government employee retired on the very next day of earning the increment, he cannot be denied the annual i.....

Tags : Supreme Court, Annual Increment, Government Employee, Retire



Meg. HC: In Service Matters, Claim of Additional Increment is Not a Continuing Ground(18.06.2024)

Meghalaya High Court has observed that in service matters, additional increment is not a continuing ground, hence, relief cannot be granted on grounds.....

Tags : Meghalaya High Court, Service Matters, Additional Increment



Kerala HC: Can’t Condone Delay in Approaching Revision Authority Under Income Tax Act(19.06.2024)

Kerala High Court while upholding the order of Single Bench, has held that delay in approaching revision authority under the Income-Tax Act, 1961 cann.....

Tags : Kerala High Court, Revision Authority, Income-Tax Act



Gau. HC: Compensation Awarded to Wife of Deceased Driver Enhanced(21.06.2024)

Gauhati High Court has enhanced the compensation awarded to the wife of a deceased driver on the ground that the Tribunal did not consider relevant in.....

Tags : Gauhati High Court, Compensation, Monthly Income



Utt. HC: Conditional Liberty Must Override Statutory Embargo Under NDPS Act(21.06.2024)

Utt. HC has observed that prolonged incarceration, generally militates against the most precious fundamental right guaranteed under Article 21 of the .....

Tags : Uttarakhand High Court, A. 21 of Constitution, Statutory Embargo, Prolonged Incarceration



ITAT, Bangalore Grants Partial Relief to Google Ireland Where Tribunal Expedited Hearing(06.09.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has granted partial relief to Google Ireland where the Tribunal expedited the hearing and posted the m.....

Tags : Income Tax Appellate Tribunal, Partial Relief to Google Ireland



CIC to CPIO: Provide Generic Details of Gross Income of Husband for Claiming Maintenance(18.08.2022)

Central Information Commission (CIC) has directed the Centre Public Information Officers (CPIO) to provide the generic details of the net taxable inco.....

Tags : CIC, Gross Income, Husband, Maintenance



Del. HC: High Earning Wife Not Truthfully Disclosing Her Income, Not Entitled to Maintenance(13.09.2023)

Delhi High Court has observed that a highly qualified wife who has been earning but is not willing or inclined to truthfully disclose her true income,.....

Tags : Delhi High Court, Maintenance, Wife, Income



Del. HC: High Earning Wife Not Truthfully Disclosing Her Income, Not Entitled to Maintenance(13.09.2023)

Delhi High Court has observed that a highly qualified wife who has been earning but is not willing or inclined to truthfully disclose her true income,.....

Tags : Delhi High Court, Maintenance, Wife, Income.



Del. HC: High Earning Wife Not Truthfully Disclosing Her Income, Not Entitled to Maintenance(13.09.2023)

Delhi High Court has observed that a highly qualified wife who has been earning but is not willing or inclined to truthfully disclose her true income,.....

Tags : Delhi High Court, Maintenance, Wife, Income



Delhi HC: Advertising Campaign Can be Protected Under IP Law if it Has Become Distinctive(11.07.2022)

Delhi High Court has held that an advertising campaign can be granted protection in Intellectual Property (IP) law, if it signifies the source and has.....

Tags : Delhi High Court, Advertising Campaign, Distinctive



ITAT: Income from Cricket Betting is Business Income(12.07.2022)

Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has upheld addition of Income from Cricket Betting as Business Income.

Tags : ITAT, Cricket Betting, Business Income



SC: Twin Conditions in Section 10B(8) of IT Act Has to be Fulfilled to Claim Exemption Relief(13.07.2022)

Supreme Court has held that for claiming the benefit under Section 10B (8) of the Income Tax (IT) Act, the twin conditions of furnishing a declaration.....

Tags : Supreme Court, Exemption Relief, Income-Tax



Del HC: MSMED Act Not Applicable to CA Firms Appointed as Special Auditors(10.07.2023)

Delhi High Court has held that MSMED Act, 2006 is not applicable to a CA firm appointed as ‘Special Auditor’ under Section 142(2A) of the Income Tax A.....

Tags : Delhi High Court, MSMED Act, Special Auditor, Income-Tax



Bom HC: Non-Disposal of Registration Application in 6 Months Would Not Result in Deemed Registration(24.10.2024)

Bombay High Court has clarified that non-disposal of application for registration by granting or refusing registration, before the expiry of six month.....

Tags : Bombay High Court, Income Tax Act, Registration



Bom. HC: Workers in Statutory Canteens are Principal Employer’s Employees(25.10.2024)

Bombay High Court while dismissing a petition challenging jurisdiction of Industrial Courts over employment status of canteen workers, has held that s.....

Tags : Bombay High Court, Principal Employer, Statutory Canteens



ITAT, Delhi: TDS Required to be Deductible on Commission to Overseas Agents(15.09.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Tax Deducted at Source (TDS) is required to be deductible on the amount of commission pa.....

Tags : Income Tax Appellate Tribunal, Commission to Overseas Agents



ITAT: Cash Deposit of Firm Cannot be Added to Personal Income of Partner(20.07.2022)

Income Tax Appellate Tribunal (ITAT), Amritsar Bench has held that the cash deposit of the Firm cannot be added to the personal income of the Partner .....

Tags : ITAT, Personal Income, Partner



Delhi HC: Explanation to Section 14A of Income Tax Act Will Not Apply Retrospectively(25.07.2022)

Delhi High Court has held that the Explanation to Section 14A of the Income Tax Act, 1961, added vide the Finance Act, 2022, cannot be presumed to be .....

Tags : Delhi High Court, Income-Tax Act, Retrospective



Bom. HC: Writing Off Bad Debt Can’t be Considered as Asset u/s 153A(1) of IT Act(07.09.2023)

Bombay High Court has held that writing-off of a bad debt cannot fall within the ambit of “income, represented in the form of an asset” under Section .....

Tags : Bombay High Court, Bad Debt, Asset, Income-Tax Act



CBDT Opens Income Tax Portal for Income Tax Return Filing for The Year 2022-23(23.06.2022)

Central Board of Direct Taxes (CBDT) has enabled the function of filing of the income tax return for the year 2022-23.

Tags : CBDT, Income-Tax Return, 2022-23



Madras HC: Royalty Income Not Relatable to Export Business Excludable from Business Profit(23.06.2022)

Madras High Court has upheld the exclusion of royalty income from business profits for calculation of deduction under Section 80HHC of Income-Tax Act,.....

Tags : Madras High Court, Royalty Income, Business Profit



CBDT Issues Guidelines on 1% TDS on Virtual Digital Assets from 1st July(23.06.2022)

Central Board of Direct Taxes (CBDT) has issued guidelines to levy one percent TDS on the virtual digital assets under Section 194S of the Income Tax .....

Tags : CBDT, Virtual Digital Assets, Income-Tax Act



Meghalaya HC: Courts Required to Bring Specific Attention of Accused to Incriminating Materials(23.06.2022)

Meghalaya High Court while setting aside a conviction has held that trial Courts are required to attract specific attention of accused to those materi.....

Tags : Meghalaya High Court, Conviction, Incriminating Materials



ITAT: Prima Facie Belief That There is Escape of Income is Sufficient Proof to Re-Open Assessment(23.06.2022)

Income Tax Appellate Tribunal (ITAT), Pune Bench has held that prima facie belief that there is the escape of income is sufficient proof to initiate r.....

Tags : ITAT, Income Tax Act, 1961, Reassessment



SC: Trial Won’t be Vitiated on Failure to Put All Incriminating Circumstances Unless Prejudice Caused(25.09.2023)

Supreme Court has held that where there has been a failure in putting all incriminating circumstances appearing against accused in evidence, the same .....

Tags : Supreme Court, Incriminating Circumstances, Prejudice



Delhi HC: Severity of Allegations Can’t be Justification for Pre-Trial Incarceration(21.07.2023)

Delhi High Court has observed that even though economic offences are serious in nature and the allegations if proved at the trial, must be met with re.....

Tags : Delhi High Court, Pre-Trial Incarceration, Economic Offence



All. HC: IT Act 1961 Vests Jurisdiction with Central Government to Appoint CIT (Appeal)(24.07.2023)

Allahabad High Court has held that Income Tax (IT) Act, 1961 vests jurisdiction on Central government to appoint an officer as Commissioner of Income-.....

Tags : Allahabad High Court, Commissioner of Income-tax (Appeals), Appeals



ITAT, Mumbai: Shell India Not Taxable in India for Consideration Received from Resale of Software(27.09.2021)

Income Tax Appellate Tribunal (ITAT), Mumbai has held that Shell India not taxable in India for consideration received from resale/use of the computer.....

Tags : Income Tax Appellate Tribunal, Shell India



ITAT, Bangalore: Independent Building with More Than One Residential Unit Eligible for Capital Gain(27.09.2021)

Income Tax Appellate Tribunal (ITAT), Bangalore has held that an independent building with more than one residential unit within it shall be eligible .....

Tags : Income Tax Appellate Tribunal, Independent Building with More Than One Residential Unit



Del HC: Recovery of Annual Report & Share Cert. from Assessee's Premises Not Incriminating Documents(28.09.2022)

Delhi High Court has held that the recovery of the annual report and the share certificate of the assessee premises cannot be considered to be incrimi.....

Tags : Delhi High Court, Incriminating Documents, Annual Report



ITAT, Pune: Sale Consideration for Sale of Software Products is Business Income(15.02.2021)

Income Tax Appellate Tribunal (ITAT) Pune has ruled that the sale consideration received for the sale of software products from the end-users, distrib.....

Tags : Income Tax Appellate Tribunal, Sale Consideration for Sale of Software Products



SC: ‘Known Sources of Income' Means Sources Known to Prosecution And Not to Accused(06.09.2022)

Supreme Court has held that term ‘known sources of income’ in Section 13(1)(e) of the Prevention of Corruption Act, 1988 would mean the sources known .....

Tags : Supreme Court, Prevention of Corruption, Sources of Income



ITAT: No Documentary Evidence to Substantiate PRP as Expenditure, Claim is Not Sustainable(07.09.2022)

Income Tax Appellate Tribunal, Kolkata has observed that the claim of Performance Related Pay (PRP) is not sustainable when no documentary evidence wa.....

Tags : Income Tax Appellate Tribunal, Performance Related Pay, documentary evidence



ITAT: Shipping Income Derived in India from International Traffic is Not Taxable in India(28.07.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai Bench has held that shipping income derived in India from international traffic is not taxable in India a.....

Tags : ITAT, Shipping Income, India-UAE Tax Treaty



Del. HC: Increase Income Threshold for EWS Adm. in Schools from Rs. 1 Lakh to Rs. 5 Lakh(06.12.2023)

Delhi High Court has ordered that to increase the existing income threshold of Rs. 1 lakh per annum, for admissions under Economically Weaker Section .....

Tags : Delhi High Court, Economically Weaker Section, School Admission, income threshold



ITAT: IT Exemption To Defence Personnel Invalidated From Service Due To Disability(18.10.2022)

Income Tax Appellate Tribunal, Delhi has observed that income tax (IT) exemption should be available to Defence Forces personnel who have been invalid.....

Tags : Income Tax Appellate Tribunal, exemption, Defence



ITAT: Payment Made By Assessee To Non-Resident Supplier Amount To "Royalty"; Liable To Deduct TDS(19.10.2022)

Income Tax Appellate Tribunal, Ahmedabad has observed that the payment made by the assessee to the non-resident supplier would amount to royalty and t.....

Tags : Income Tax Appellate Tribunal, assessee, deduct tax at source



ITAT: Vodafone Idea Not Liable To Deduct TDS On Discount Allowed On Purchase Of Prepaid SIM Cards(21.10.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that Vodafone Idea is not liable to Deduct Tax at Source (TDS) on the discount allowed to the distribu.....

Tags : Income Tax Appellate Tribunal, SIM, Deduct Tax at Source



Bom. HC: Assessee Cannot be Permitted to Raise Defect in Notice After 30 Years(15.01.2024)

Bombay HC has held that even assuming that there was a defect in the notice, the assessee cannot be permitted to raise the same after 30 years as it h.....

Tags : Bombay High Court, Income-tax Act, Defect



ITAT: Amendments to Income Tax Deduction for Contributions to ESI and PF Are Not Retrospective(12.05.2022)

Income Tax Appellate Tribunal, Jaipur has ruled that amended provisions relating to income tax deduction for ESI and PF contributions would be effecti.....

Tags : Income Tax Appellate Tribunal, 2021-22, retrospective, assessment year



Allahabad HC quashes Re-Assessment Order; Says Notice Issued Without Jurisdiction is Invalid(12.05.2022)

Allahabad High Court has held that once the notice under Section 148 of the Income Tax Act, 1961, issued by the assessing authority was declared witho.....

Tags : Allahabad High Court, Section 148, Income Tax Act, 1961, jurisdiction



Allahabad HC Quashes Re-Assessment Order; Says Notice Issued Without Jurisdiction is Invalid(12.05.2022)

Allahabad High Court has held that once the notice under Section 148 of the Income Tax Act, 1961, issued by the assessing authority was declared witho.....

Tags : Allahabad High Court, Section 148, Income Tax Act, 1961, jurisdiction



Cal. HC: Application u/s 34 of A&C Act Falls Under Entry No. 2(c) of Schedule II of Court Fees Act(29.08.2024)

Cal. HC has held that principal application u/s 34 of Arbitration and Conciliation Act, 1996 falls under Entry No. 2(c) of Schedule II of the Court Fe.....

Tags : Calcutta High Court, S. 34 of A&C Act, Higher Fees, Principal Applications



SC: Witness Making Self-Incriminating Statements Can be Summoned as Additional Accused(13.09.2024)

Supreme Court has held that he qualified privilege under the proviso to Section 132 of the Indian Evidence Act, 1872 does not grant complete immunity .....

Tags : Supreme Court, Additional Accused, Self-Incriminating



SC: For Purpose of Bail, Continued Incarceration With No Fault of Accused Would Enure to His Benefit(25.09.2024)

Supreme Court while granting bail to an accused under the Prevention of Money Laundering Act, 2002 has observed that continued incarceration where the.....

Tags : Supreme Court, PMLA, Continued Incarceration



CBDT Notifies Conditions for Exemption of Income Accrued or Received by Non-Resident(13.12.2021)

Central Board of Direct Taxes (CBDT) has notified conditions for exemption of income accrued or received by, non-resident as a result of transfer of n.....

Tags : Central Board of Direct Taxes, Exemption of Income Accrued or Received by Non-Resident



Kerala HC: IT Act Doesn’t Impose Any Limitation for Filing Application for Condonation of Delay(21.11.2022)

Kerala High Court has held that Section 119(2)(b) of the Income Tax (IT) Act does not impose any limitation for the purposes of filing an application .....

Tags : Kerala High Court, Income-Tax, Limitation



Del. HC Upholds Validity of Section 115BBE of Income Tax Act(29.12.2023)

Delhi High Court while observing that Statutory Acts and their provisions are not to be declared unconstitutional on the fanciful theory that power wo.....

Tags : Delhi High Court, Constitutional Validity, Income Tax Act



Raj HC: No Penalty on Assessee u/s 270A IT Act, Once Deduction Claim for Education Cess is Withdrawn(05.01.2024)

Rajasthan High Court has held that no penalty shall be imposed on the Assessee under Section 270A of Income-Tax Act, 1961, once the deduction claim fo.....

Tags : Rajasthan High Court, Education Cess, Deduction Claim, Income-Tax Act



ITAT: Vodafone Idea Not Liable to Deduct TDS on Discount Extended to Pre-paid Distributors(22.01.2021)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Vodafone Idea Ltd. is not liable to deduct TDS on discount extended to its pre-paid dist.....

Tags : Income Tax Appellate Tribunal, Vodafone Idea Ltd.



SC: Dependents Entitled to Compensation for Loss of Income Even if They Inherit Business of Deceased(04.10.2022)

Supreme Court has held that motor accident compensation need not be reduced for the sole reason that that the business ventures and properties of the .....

Tags : Supreme Court, Compensation, Loss of Income



Del. HC: Unforeseen Incident Not Ground to Let Go of offender for Rash Driving(06.11.2023)

Delhi High Court has held that the happening of an accident is an unforeseen incident but it cannot be a ground to let off the offender for rash and n.....

Tags : Delhi High Court, Unforeseen Incident, Rash and Negligent Driving



ITAT Mumbai: No Tax Notice to Legal Heir of Deceased(17.11.2023)

Income-tax Appellate Tribunal, Mumbai has held an assessment order passed in the name of a deceased taxpayer to be 'non-est’ and quashed the addition .....

Tags : Income-tax Appellate Tribunal, Mumbai, deceased taxpayer



ITAT, Kolkata Directs CIT (A) to Send Notices to Advocates Through Email(07.02.2022)

Income Tax Appellate Tribunal (ITAT) Kolkata has directed the Commissioner of Income Tax (Appeals) to send notices to the advocate of the assessee thr.....

Tags : Income Tax Appellate Tribunal, Sending of notices Through Email



Jharkhand HC: Wages to Include Privileges or Benefits that Can be Measured in Terms of Money(07.02.2022)

Jharkhand High Court has held that wages under the Employees Compensation Act, 1923 include privileges or benefits that can be measured in terms of mo.....

Tags : Jharkhand High Court, Wages to Include Privileges or Benefits



Kerala High Court to Centre Over Non-Inclusion of Petroleum Products Under GST(02.12.2021)

Kerala High Court was discontent with the reasons given by the Goods and Services Tax Council for its decision to not include petrol and diesel within.....

Tags : Kerala High Court, Non-Inclusion of Petroleum Products Under GST



Delhi HC: Minor Inconsistency in Statement Does Not Make Unreliable Witness(02.12.2021)

Delhi High Court has observed that minor inconsistency in a statement made by a wife during cross-examination by husband before Family Court in divorc.....

Tags : Delhi High Court, Minor Inconsistency in Statement



Kerala HC: Can't Seek Annual Increment for Pension & Gratuity if it Falls Due After Superannuation(25.11.2022)

Kerala High Court has held that a government servant who retires on the last working day of the preceding month and whose annual increment falls due o.....

Tags : Kerala High Court, Superannuation, Increment



Kar. HC: Pay and Recover Principle to be Applied in Cases Where Driving License of Driver Not Found(23.01.2024)

Karnataka HC has held that in cases where valid driving license of the driver involved in accident is not found then the Claims Tribunal has to apply .....

Tags : Karnataka High Court, Driving License, Pay and Recover Principle



MP HC Suspends Sentence of Convict Citing Inconsistencies Between Dying Declaration & Oral Statement(12.12.2022)

Madhya Pradesh High Court has suspended the sentence of a murder convict on the ground that there were certain inconsistencies between the dying decla.....

Tags : Madhya Pradesh High Court, Murder, Dying Declaration, Inconsistencies



Supreme Court: Can’t Apply TDS to Business Undertakings Where Assessee Not Paying Income(29.02.2024)

Supreme Court has held that assessees would not be under a legal obligation to deduct tax at source on the income/profit component in payments receive.....

Tags : Supreme Court, TDS, Income



CBDT: IBBI Eligible for IT Exemption on Grant in Aid, Fine, Fee, Interest Income(03.03.2023)

Central Board of Direct Taxes (CBDT) has notified that the Insolvency and Bankruptcy Board of India (IBBI) shall be eligible for the income tax exempt.....

Tags : CBDT, IBBI, Income-Tax Exemption



Del. HC: Threshold Income to Claim Financial Aid Under Rashtriya Arogya Nidhi Unreasonable(25.04.2024)

Delhi High Court while initiating a suo motu case, has observed that the eligibility criteria of threshold income under the Central Government's Rasht.....

Tags : Delhi High Court, Rashtriya Arogya Nidhi, Threshold Income



ITAT: Interest Income Earned By Co-Operative Society Eligible For Deduction(23.01.2023)

Income Tax Appellate Tribunal, Mumbai has observed that the interest income earned by a co-operative society on its investments held with co-operative.....

Tags : Income Tax Appellate Tribunal, interest, deduction



Bombay HC: Reassessment Notice after 4 Years should have the Sanction Of PCIT(23.01.2023)

Bombay High Court has ruled that issuing a reassessment notice after four years is subject to the approval of the Principal Chief Commissioner of Inco.....

Tags : Bombay High Court, reassessment notice, Principal Chief Commissioner of Income-tax



ITAT: 2% TDS Deductible On Common Area Maintenance Charges(25.01.2023)

Income Tax Appellate Tribunal (ITAT), Delhi has ruled that 2% Tax Deducted at Source (TDS) is deductible on common area maintenance charges. The court.....

Tags : Income Tax Appellate Tribunal, Tax Deducted at Source, maintenance, assessee



Del. HC: IT Addition Eligible for Deduction u/s 80-IC of IT Act if Made Towards Unsub. Share Capital(04.04.2024)

Delhi High Court has held that Income Tax Addition are eligible for deduction under Section 80-IC of the Income Tax Act, 1961 if they are made towards.....

Tags : Delhi High Court, Section 80-IC of IT Act, Income Tax Addition, Unsubstantiated Share Capital



Del. HC: Rule 11UA of the IT Rules, 1962 Interpreted for Determination of FMV of Shares(08.04.2024)

Delhi High Court has held that rule 11UA of Income Tax Rules, 1962(IT Rules) has been interpreted by it for the determination of fair market value (FM.....

Tags : Delhi High Court, Income Tax Rules, Fair Market Value, Rule 11UA



CESTAT: Service Tax Cannot be Levied on Incentives(15.03.2024)

Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) while distinguishing between ‘commission’ and ‘incentive’ has held that se.....

Tags : CESTAT, Service Tax, Incentives



All. HC: EMI of Personal Loan to be Added in Monthly Income for Determining Maintenance u/s 125 CrPC(15.03.2024)

Allahabad High Court has held that in order to determine the monthly allowance payable to the wife under Section 125 of the Code of Criminal Procedure.....

Tags : Allahabad High Court, Section 125 of CrPC, Personal Loan, Monthly Income



SC: Specific Reference Needed to Effect Incorporation of Arbitration Clause in Another Contract(21.03.2024)

Supreme Court has held that when parties enter into a contract, making a general reference to another contract, such general reference would not have .....

Tags : Supreme Court, Incorporation, Arbitration Clause



ITAT, Dehradun: Interest on Income Tax Refund Not on Permanent Establishment Not Business Income(14.03.2022)

Income Tax Appellate Tribunal, Dehradun has ruled that interest on income tax refund received by a foreign enterprise is not effectively connected to .....

Tags : Income Tax Appellate Tribunal, Interest on Income Tax Refund



ITAT, Mumbai: LTCG on Penny Stock Transaction Cannot be Denied Exemption(15.03.2022)

Income Tax Appellate Tribunal, Mumbai has ruled that long term capital gains arising from a penny stock transaction cannot be denied exemption under t.....

Tags : Income Tax Appellate Tribunal, LTCG on Penny Stock Transaction



Meg. HC: POCSO Conviction Upheld, Accused and Victim had Lust and Infatuation(01.05.2024)

Meg. HC has upheld the conviction of a man under the Protection of Children from Sexual Offences Act, 2012 (POCSO) and after considering that at a you.....

Tags : Meghalaya High Court, POCSO, Incarceration



ITAT, Delhi: Charitable Trust Entitled to Adjust Excess Expenditure in Subsequent Income(08.02.2022)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the Charitable trust is entitled to carry forward, adjust excess expenditure in earlier year.....

Tags : Income Tax Appellate Tribunal, Charitable Trust



ITAT, Mumbai Disallows Fees Paid for Investment Advisory Services on Lack of Documentary Evidence(08.02.2022)

Income Tax Appellate Tribunal (ITAT) Mumbai has disallowed fees paid towards Investment Advisory Services as assessee only furnished debit note, and .....

Tags : Income Tax Appellate Tribunal, Fees Paid for Investment Advisory Services



ITAT, Pune: No Income Tax Payable on Sale of Software Licence(09.02.2022)

Income Tax Appellate Tribunal (ITAT), Pune, has ruled that no Income Tax payable on Sale of Software Licence, support, maintenance as it is not Royalt.....

Tags : Income Tax Appellate Tribunal, Sale of Software Licence



ITAT: IBC Has Overriding Effect on All Acts Including Income Tax Act(20.02.2023)

Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that Insolvency and Bankruptcy Code (IBC) has an overriding effect on all acts, including t.....

Tags : Income Tax Appellate Tribunal, Income-Tax, Insolvency



SC: CIT can Revise Erroneous Order by Assessing Officer Causing Prejudice to Revenue(10.04.2023)

Supreme Court has held that Commissioner of Income Tax (CIT) can while exercising his power of revision under Section 263 of Income-Tax Act, 1961, rev.....

Tags : Supreme Court, Income-Tax, CIT, Assessing Officer



Mad. HC: Principles of Natural Justice to be Followed While Dealing With App. for Organ Donation(04.06.2024)

Madras High Court has observed that it is necessary to comply with the principles of natural justice while dealing with applications for organ donatio.....

Tags : Madras High Court, Principles of Natural Justice, Organ Donation



Ker. HC: AO Can’t Reopen Assessment in Block Period of 6 Years if Absence of Incriminating Materials(24.06.2024)

Kerala High Court has held that in case of absence of incriminating materials, the Assessing Officer (AO) cannot reopen the assessment in a block peri.....

Tags : Kerala High Court, Incriminating Materials, Assessing Officer



AP HC: Prosecution Against Assessee for Belated Deposit of TDS, Quashed(25.06.2024)

Andhra Pradesh High Court while observing that the Commissioner of Income Tax failed to consider material placed by the assessee showing that there wa.....

Tags : Andhra Pradesh High Court, Commissioner of Income Tax, Belated Deposit



Gau. HC: Accused Eligible for Bail if Undue Delay in Trial Completion and Prolonged Incarceration(01.07.2024)

Gauhati High Court has observed that if there is an undue delay in the completion of the trial, and that the incarceration of the accused is long enou.....

Tags : Gauhati High Court, Trial Completion, Incarceration



ITAT: TDS Not Applicable to Commission to Credit Card Company Under Section 194H of IT Act(09.06.2022)

Income Tax Appellate Tribunal (ITAT), Delhi bench has held that TDS under Section 194H of the Income-Tax (IT) Act, 1961 is not applicable to the amoun.....

Tags : ITAT, Income-Tax Act, Credit Card



ITAT: Provision Mandating Furnishing of PAN With E-TDS has Overriding Effect(10.06.2022)

Income Tax Appellate Tribunal (ITAT), Visakhapatnam bench has held that the provision mandating furnishing of PAN with E-TDS has an overriding effect .....

Tags : ITAT, Income-Tax Act, PAN



ITAT: No Late Fee U/S 234E of IT Act Can be Levied for Default Committed After 2015 Amendment(10.06.2022)

Income Tax Appellate Tribunal (ITAT), Pune bench has held that late fees u/s 234E can’t be levied for the default committed after the insertion of Sec.....

Tags : ITAT, Income-Tax Act, Finance Act



ITAT, Delhi Deletes Penalty Against Lahmeyer Holding GambH(12.04.2022)

Income Tax Appellate Tribunal , Delhi has granted relief to Lahmeyer holding that the penalty cannot be levied based on fact that the assessee under s.....

Tags : Income Tax Appellate Tribunal, Lahmeyer Holding GambH, section 44BBB of the Income Tax Act, 1961, permanent establishment, bonafide



CESTAT, Ahmedabad: Service Tax Cannot be Levied Based on Income Declared Under IDS(13.04.2022)

Customs, Excise, and Service Tax Appellate Tribunal, Ahmedabad has observed that service tax cannot be levied merely because the income declared under.....

Tags : Customs, Excise, and Service Tax Appellate Tribunal, service tax, Income Declaration Scheme, 2016



Bombay HC: Re-Assessment at Behest of Audit Party Invalid(13.04.2022)

Bombay High Court has observed that the re-assessment under section 147 of the Income Tax Act, 1961 is bad in law since the same was at the request of.....

Tags : Bombay High Court, section 147 of the Income Tax Act, 1961, audit party



SC: Non-Questioning on Incriminating Circum. Vitiate Trial if Omission Causes Miscarriage of Justice(09.07.2024)

SC has observed that when incriminating circumstances are not put to question before accused and he is not given an opportunity to explain such incrim.....

Tags : Supreme Court, Incriminating Circumstances, Miscarriage of Justice



ITAT: Centralized Processing Centre has No Jurisdiction of Adjustment U/S 143(1)(23.05.2022)

Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the Centralized Processing Centre has no jurisdiction to exercise the power under sec.....

Tags : ITAT, Centralized Processing Centre, Income-Tax Act, Assessee



P&H HC: 7 Days Period to File Reply of Notice Served Through E-Filing Portal is ‘Unreasonably Short’(23.05.2022)

Punjab & Haryana High Court has held that the period of 7 days, granted to file the reply of the Notice issued under Section 148A of the Income Tax Ac.....

Tags : Punjab and Haryana High Court, Section 148-A, Income-Tax Act, Natural Justice



SC: In Cases of Long Incarceration, Watali Judgement Cannot be Cited as a Precedent(19.07.2024)

SC while granting bail to an accused under Unlawful Activities (Prevention) Act, 1967 has observed that in UAPA cases, where long incarceration has be.....

Tags : Supreme Court, UAPA, Long Incarceration



Man. HC: IT Officer to Communicate Order of Reassessment and Demand Notice Within Time(23.07.2024)

Manipur High Court has held that if the Income Tax Officer makes reassessment without communicating the order of reassessment and the demand notice of.....

Tags : Manipur High Court, Income Tax Officer, Demand Notice



ITAT: Not All Appellate Orders are Erroneous(30.06.2022)

Income Tax Appellate Tribunal (ITAT), Cuttack bench has advised the income tax department to be careful in filing the appeals against the orders of th.....

Tags : ITAT, Income Tax Department, Erroneous



ITAT: 3rd Party Statement alone not Incriminating Material for justifying Addition in Assessment(30.06.2022)

Income Tax Appellate Tribunal (ITAT), Jaipur bench has held that third party statement alone, not incriminating material for justifying addition made .....

Tags : ITAT, Incriminating Material, Income-Tax Act



Pat. HC: Section 45(5A) of Income Tax Act cannot be Treated as Retrospective(17.05.2023)

Patna High Court has held that Section 45(5A) of Income Tax Act 1961 can’t be treated as retrospective, and stated that there is presumption against r.....

Tags : Patna High Court, Income Tax Act, Retrospective



SC: Acquittal Upheld in Cheque Dishonour Case for Contradiction in Statements of Complainant(09.08.2024)

SC has upheld acquittal of an accused in a cheque dishonor case on the ground that there was no financial capacity or acknowledgement in complainant’s.....

Tags : Supreme Court, Cheque Dishonor, Income Tax Returns



Chh. HC: Continuance of Benefit of Advance Increment Can’t be Claimed by Employee after Promotion(09.08.2024)

Chhattisgarh High Court has held that continuance of advance increments granted for family planning purposes cannot be claimed by employees once they .....

Tags : Chhattisgarh High Court, Advance Increment, Promotion, Pay Scale



Del. HC: Can’t Reopen Assessment if Mistake Made on Part of AO Results in Under Assessment of Income(12.11.2024)

Delhi High Court has held that if there is a mistake on the part of the Assessing Officer that resulted in under assessment of the income, it cannot b.....

Tags : Delhi High Court, Assessing Officer, Assessment of Income



Kerala HC: Determine Notional Income of Ordinary Worker on the Basis of Fair Wages(15.11.2024)

Kerala High Court has observed that while awarding compensation for motor accidents, notional income of ordinary worker must be determined on the basi.....

Tags : Kerala High Court, Ordinary Worker, Notional Income, Fair Wages



Bom. HC: Sai Baba Sansthan Trust Eligible for Exemption on Income Tax for Anonymous Donations(09.10.2024)

Bombay High Court while upholding the order by ITAT, has affirmed that Shri Sai Baba Sansthan Trust situated in Shirdi is eligible for exemption from .....

Tags : Bombay High Court, Sai Baba Sansthan, Income Tax



Madras HC: To Invoke PMLA, Mere Possession of Proceeds of Crime Sufficient(09.10.2024)

Bombay High Court while upholding the order by ITAT, has affirmed that Shri Sai Baba Sansthan Trust situated in Shirdi is eligible for exemption from .....

Tags : Bombay High Court, Sai Baba Sansthan, Income Tax



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