High Courts Archive

Transaction entered in pursuance of MOU can not be said sham or colourable device to avoid tax

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Transaction entered in pursuance of MOU can not be said sham or colourable device to avoid tax when payments and MOU not disputed, Joint Venture payments not attract TDS Provisions-High Court   ABCAUS Case Law Citation: ABCAUS 2103 (2017) (10) HC In the instant case, the assessee company had

 

Once depreciation is claimed, asset cannot move out of the Block of Assets – High Court affirms

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Once depreciation is claimed, asset cannot move out of the Block of Assets even if no depreciation was claimed for many years thereafter – High Court affirms ITAT order   ABCAUS Case Law Citation: ABCAUS 2102 (2017) (10) HC Brief Facts of the Case: The appellant assessee had sold a fixed assets earning profits thereon which was treated by it as long 

 

Question affecting tax liability of assessee can be raised before Tribunal first time – High Court

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Question affecting tax liability of assessee can be raised before the Tribunal first time and it is obliged to consider them and pass appropriate orders – High Court ABCAUS Case Law Citation: ABCAUS 2101 (2017) (10) HC In the instant case, the Income Tax Department (Revenue/Department ) had challenged

 

Tribunal not justified in remanding case when records are available with it – High Court

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Tribunal not justified in remanding the case when documents are available with it. It was the duty of the tribunal to consider the same – High Court   ABCAUS Case Law Citation: ABCAUS 2100 (2017) (10) HC The High Court pronounced the common judgment while disposing off bunch of

 

Deemed Dividend u/s 2(22)(e) do not extend to non-shareholders-Supreme Court agrees with High Court

Deemed Dividend u/s 2(22)(e) do not extend to non-shareholders. The fiction not to be extended further for broadening the concept of shareholders – Supreme Court agrees with High Court ABCAUS Case Law Citation: ABCAUS 2099 (2017) (10) SC  Deemed Dividend u/s 2(22)(e) do not extend to non-shareholders In a

 

Mere non-payment of service tax was not suppression of material facts for invoking extended period of limitation-High Court

Mere non-payment of service tax was not suppression of material facts for invoking extended period of limitation under proviso to Section 73 (1) of the Finance Act-High Court   ABCAUS Case Law Citation: ABCAUS 2097 (2017) (10) HC Important Case Laws Cited/relied upon by the parties: P.C. Poulose v.

 

Non speculative business loss can be set off against profits of any business including speculative business–High Court

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Non speculative business loss can be set off against profits of any business including speculative business carried on by assessee – High Court  ABCAUS Case Law Citation: ABCAUS 2096 (2017) (10) HC The Challenge/Grievance: This instant Income Tax Appeal was filed under Section 260(A) of the Income Tax Act,