IT JudgementEx-parte order passed without granting sufficient time to the assessee quashed20 Jun 20220Ex-parte order passed without granting sufficient time to the assessee quashed The system of Faceless assessment has witnessed…
IT Judgementother topicDiscussion Paper on Remuneration of an Insolvency Professional20 Jun 20220Discussion Paper on Remuneration of an Insolvency Professional This paper deals with issue of fee of an insolvency professional…
IT JudgementWhere substantial question of law arises, appeal cannot be dismissed on technical grounds: Landmark Judgement by Calcutta HC20 Jun 20220Where substantial question of law arises, appeal cannot be dismissed on technical grounds: Landmark Judgement by Calcutta HC …
IT JudgementITAT directs AO to consider actual value of property and not stamp duty valuation for capital gains calculation17 Jun 20221 CommentITAT directs AO to consider actual value of property and not stamp duty valuation for capital gains calculation Sec 50C…
IT JudgementValidity of disallowance of freight expenses under section 40(a)(ia) on ground that PAN details were not submitted to prescribed authority in prescribed form as required under section 194C(7)16 Jun 20220Validity of disallowance of freight expenses under section 40(a)(ia) on ground that PAN details were not submitted to prescribed authority…
IT JudgementWhether Software Company is eligible for Additional Depreciation available to manufacturing company?16 Jun 20220Whether Software Company is eligible for Additional Depreciation available to manufacturing company? Section 32 provides for additional depreciation to the…
IT JudgementAO has power to levy penalty in a remanded back case even if same wasn’t levied in original assessment: HC14 Jun 20220AO has power to levy penalty in a remanded back case even if same wasn’t levied in original assessment: HC…
IT JudgementIf the original grounds for reopening the reassessment do not exist any longer and no additions were ultimately made on that account, the additions in respect of other items cannot be made.13 Jun 20220If the original grounds for reopening the reassessment do not exist any longer and no additions were ultimately made on…
IT JudgementNegotiated land acquisition for Bullet Train project retains character of compulsory acquisition: Bom HC13 Jun 20220Negotiated land acquisition for Bullet Train project retains character of compulsory acquisition: Bom HC Seema Jagdish Patil, Versus The…
IT JudgementNCLAT appealed to the Govt. & IBBI to examine the need to change the legislative scheme on payment to Operational-Creditors.11 Jun 20220NCLAT appealed to the Govt. & IBBI to examine the need to change the legislative scheme on payment to Operational-Creditors.…
IT JudgementReassessment Notice signed on 31st March but evidence of having been sent by email or uploaded at portal not made available to the Assessee: Issue before the High Court11 Jun 20220Reassessment Notice signed on 31st March but evidence of having been sent by email or uploaded at portal not made available…
IT JudgementAO can’t withhold refund mere on reasons that there is a probability of additions during assessment: HC9 Jun 20220AO can’t withhold refund mere on reasons that there is a probability of additions during assessment: HC Income tax…
IT JudgementHindu father or any other managing member of HUF is empowered to make a gift of ancestral property only for a ‘pious purpose’: Supreme Court3 Jun 20220Hindu father or any other managing member of HUF is empowered to make a gift of ancestral property only for…
IT JudgementChallenging the assessment order passed by NFAC as without territorial jurisdiction in Delhi HC3 Jun 20220Challenging the assessment order passed by NFAC as without territorial jurisdiction in Delhi Recently, the assessment order passed…
IT JudgementProgressive as well as futuristic scheme of re-assessment whose intent is laudatory has in its implementation not only been rendered nugatory but has also had an unintended opposite result: Delhi High Court30 May 20220Progressive as well as futuristic scheme of re-assessment whose intent is laudatory has in its implementation not only been rendered…
IT JudgementAO not applied his mind in respect of allegation of bogus purchase: High Court quashes the order passed by the AO u/s 148A(d)26 May 20220AO not applied his mind in respect of allegation of bogus purchase: High Court quashes the order passed by the…
IT JudgementRevenue has deliberately disobeyed the order of this Court and passed the impugned order in breach of principles of natural justice so impugned order is set aside: Allahabad HC25 May 20220Revenue has deliberately disobeyed the order of this Court and passed the impugned order in breach of principles of natural…
IT JudgementJust 3 Days time to file its response to the notice u/s 148A(b) results in grave prejudice to the Assessee: Delhi High Court25 May 20220Just 3 Days time to file its response to the notice u/s 148A(b) results in grave prejudice to the Assessee:…