Income Tax Archives | Page 2 of 7

Assessee cannot claim deduction by merely stating a bad debt as an irrecoverable write off without appropriate treatment in the accounts and non-compliance with Income Tax Act provisions: SC

Supreme Court: In the case where the Revenue had challenged Bombay High Court’s judgment affirming Income Tax Appellate Tribunal (ITAT)’s order for

Case Briefs Supreme Court

Appropriate High Court for filing an appeal under Section 260A of the Income Tax Act would be the one where the Assessing Officer is situated: Supreme Court

“A judicial remedy must be effective, independent and at the same time certain. Certainty of forum would involve unequivocal vesting of jurisdiction to adjudicate and determine the dispute in a named forum.”

Case Briefs Tribunals/Commissions/Regulatory Bodies

Bogus Parties and Dubious Transactions- Read ITAT’s observations on a matter concerning “non-existent lenders”

Income Tax Appellate Tribunal (ITAT), New Delhi: While deciding the instant appeal pertaining to the Assessment Year 2015-16 where the

Legislation Updates Notifications

CBDT exempts non-resident from the purview of S. 206C(1G) of IT Act, 1961

The Central Government has notified that the provisions of section 206-C (IG) of the Income Tax Act, 1961 shall not

Case Briefs High Courts

[Benami Property] Madras High Court | Writ shall not be entertained against a mere show cause notice; Upholds order of Deputy Commissioner, IT

Madras High Court: A Division Bench of R. Mahadevan and Sathya Narayana Prasad, JJ. approved the orders of the Deputy

Case Briefs Tribunals/Commissions/Regulatory Bodies

Whether the interest paid on late payment of TDS after deduction can be claimed as expenditure for determining the taxable income? ITAT examines and elucidates

Income Tax Appellate Tribunal (ITAT): While deciding the instant appeal wherein the relevant question arose that whether the interest paid on late

Case Briefs High Courts

Jharkhand High Court | Liability cannot be fastened upon the company for delay in TDS when it had taken steps within time but the same was not credited in the account of the Central Government

Jharkhand High Court: Sanjay Kumar Dwivedi, J. allowed a criminal miscellaneous petition quashing the entire criminal proceeding including the order

Op Eds OP. ED.

E-Dispute Resolution Scheme, 2022: An Alternative to the Traditional Dispute Settlement in Income Tax Matters

by Pintu Babu† and Nasimuddin Khan††

Case Briefs Supreme Court

Twin conditions of furnishing declaration within time limit “mandatory” for exemption relief under Section 10B (8) of IT Act: Supreme Court

Karnataka High Court and ITAT committed a “grave error” in holding that the requirement of furnishing a declaration under Section 10B (8) of the Income Tax Act, 1961 (IT Act) is mandatory, but the time limit within which the declaration is to be filed is not mandatory but is directory.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Whether a typographical error in mentioning a bank account number can have adverse impact on income tax assessment? ITAT deliberates

Income Tax Appellate Tribunal (ITAT), Visakhapatnam: While deciding the instant appeal by the Revenue against the Order by CIT (A) deleting the

Case Briefs Tribunals/Commissions/Regulatory Bodies

Is the sale of Carbon Credit considered revenue or capital in nature? ITAT elucidates

Income Tax Appellate Tribunal (ITAT), Mumbai: While deciding the instant appeal wherein a major issue that came before Tribunal was whether receipts

Case Briefs Tribunals/Commissions/Regulatory Bodies

Authority for Advance Ruling determines GST to be charged on sale of a car by company after using it for business purpose

Ahmedabad Authority for Advance Ruling: Members Atul Mehta and Arun Richard, has held that 18% GST is payable on value for intended

Case Briefs High Courts

Meghalaya High Court| Minimum 7 days time to be provided to respond to the reassessment notice under S. 148 of IT Act, 1961

Meghalaya High Court: The Division Bench of Sanjib Banerjee, CJ. and W. Diengdoh, J. disposed of a petition holding that the assessee

Case Briefs High Courts

Rajasthan High Court| Police may charge fee from couple seeking police protection if the income is more than taxable income

Rajasthan High Court: Sameer Jain J. granted police protection and directed the State authorities to charge an appropriate fee from the couple

Case Briefs Tribunals/Commissions/Regulatory Bodies

Maharashtra AAR| No GST on ‘stipend’ paid to trainees

Maharashtra Authority for Advance Ruling: Rajiv Mangoo, Additional Commissioner of Central Tax & T.R. Ramani, Joint Commissioner of State Tax held that

Case Briefs Tribunals/Commissions/Regulatory Bodies

When can loss due to embezzlement be allowed as a deduction in computation of income tax? ITAT elucidates

Income Tax Appellate Tribunal (ITAT), Bangalore: The coram of N.V. Vasudevan (Vice President) and Padmavathy S. (Accountant Member), considered the instant appeal,

Case Briefs High Courts

Mad HC decides on includability of royalty / guarantee commission in business profit for the purpose of calculation of deduction under S 80 HHC of IT Act

Madras High Court: A Division Bench of R Mahadevan and Sathya Narayan Prasad, JJ. dismissed the tax appeal holding that guarantee commission

Case Briefs High Courts

Del HC sets aside assessment notice sent under S. 148 Income Tax Act, 1961 to a dead person for being null and void

Delhi High Court: A Division Bench of Jyoti Singh and Anoop Kumar Mendiratta, JJ. sets aside notices sent to a deceased assessee

Case Briefs Tribunals/Commissions/Regulatory Bodies

ITAT upholds the invocation of S. 263 of Income Tax Act by the PCIT to set aside an assessment order for being prejudicial to interests of the Revenue

Income Tax Appellate Tribunal (ITAT): The Coram of Manish Borad (Accountant Member) and Rajpal Yadav (Vice President), in the instant appeal filed

Case Briefs High Courts

Del HC directs fresh adjudication in a case involving mixed question of fact and law, as it found relevant submissions were not considered by AO

Delhi High Court: A Division Bench of Manmohan and Manmeet Pritam Singh Arora, JJ. disposed the petition and directed fresh adjudication as