IT JudgementSupreme court judgement on Good seized by GST Officer- in favor of Revenue23 May 20180SLP dismissed against impugned order of High Court that where assessee sought release of goods seized during transport from Delhi…
IT JudgementAddition U/s. 68 for Capital contribution to firm by partner cannot be sustained when partner has confirmed contribution.15 May 20180Addition U/s. 68 for Capital contribution to firm by partner cannot be sustained when partner has confirmed contribution. Pr. CIT…
IT JudgementContainer Corporation of India Ltd -Income Tax Judgement (Supreme Court)3 May 20180 The present appeal has been filed against the judgment and order dated 11.05.2012 passed by the High Court of Delhi…
IT JudgementMahindra and Mahindra Ltd -Income Tax Judgement(Supreme Court)3 May 20180Brief facts:- (a) For the proper appreciation of the issue in the case at hand, we deem it apposite to…
IT JudgementHCL Technologies Ltd -Income Tax Judgement(Supreme Court)3 May 201802) These appeals have been filed against the impugned judgment and order dated 15.12.2009 passed by the High Court of…
IT JudgementWhether the annual letting value of the property determined by the Tribunal could be a figure lower than that returned ?27 Apr 20180The Hon’ble Calcutta High Court in CIT v/s Bhaskar Mitter, [1004] 73 Taxman 437 (Cal.) :– Issue: whether the annual…
IT JudgementSC affirms set off of interest income earned on deposit of share application money against share issue expenses27 Apr 20180Supreme Court affirms set off of interest income earned on deposit of share application money against share issue expenses This…
IT JudgementNo Assessment Order shall be Valid if it is made in the name of Deceased Person and not on Legal Heir: ITAT, Ahmedabad27 Apr 20180No Assessment Order shall be Valid if it is made in the name of Deceased Person and not on Legal…
IT JudgementBogus purchases & Income Tax Implications23 Apr 20180Shantivijay Jewels Ltd vs. DCIT (ITAT Mumbai) April, 21st 2018 Bogus Purchases: The fact that the supplier admitted to issuing…
IT JudgementSection 133A -An admission of estimated income made during survey has no evidentiary value and is not binding on the assessee.14 Apr 20180Section 133A -An admission of estimated income made during survey has no evidentiary value and is not binding on the…
Income TaxIT JudgementLatest UpdateS. 279 Prosecution for late deposit of TDS offense: Principles applicable to launching prosecution set out.3 Apr 20180section 279 (i) Counsel for the petitioners submits that the Sanctioning Authority has failed to consider the requirements of Section…
Income TaxIT JudgementLatest UpdateNo Tax, on amount received from family arrangements.31 Mar 20180The Tribunal had to consider whether the property acquired by assessee through memorandum of family arrangement cum compromise deed dated…
Income TaxIT JudgementLatest UpdateTribunal orders are binding on the Tribunal unless set-aside or stayed.23 Mar 20180Section 254(2) : Tribunal orders (in sister concern’s case) are binding on the Tribunal unless set-aside or stayed. A rectification…
ArticleHead Of IncomeIncome TaxIT JudgementLatest UpdateNewsother topicThe PlanningWhy you should purchase Tax Saving Bond u/s 54EC before 31st March 2018?22 Mar 20180Section 54EC is one of the most preferable sections for saving tax arising from transfer of any long term capital…
ArticleIncome TaxIT JudgementLatest UpdateTRANSFER OF CAPITAL ASSETS ON DISSOLUTION OF FIRM ATTRACT TAX LIABILITY IN THE HANDS OF THE FIRM13 Mar 20180CAPITAL ASSETS The provision of Section 45(4) is applied at the time of dissolution of the firm, further the provision…
Income TaxIT JudgementThe grant of approval by the CIT with the words “Yes. I am satisfied” – ITAT Delhi9 Mar 20180section 147 (1) First of all, ld. AR for the assessee company drew our attention towards sanction accorded by the…
Income TaxIT JudgementLatest UpdateVoluntary surrender after survey -No escape from Penalty: SC5 Mar 20180Section 271(1)(c) Voluntary surrender after survey -No escape from Penalty: SC 1. The question of law framed for this appeal…
Income TaxIT JudgementLatest UpdateDisallowance of Assessee’s claim does not mean “furnishing of inaccurate particulars” for levy of Penalty !2 Mar 20180furnishing of inaccurate particulars BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND SHRI N.K. PRADHAN, ACCOUNTANT MEMBER ITA no.7099/Mum./2017 (Assessment Year…