High Courts Archive

Reopening for cash deposits for non response to notice u/s 133(6) illegal where assessment was completed u/s 143(3)/147 4 years before

Reopening for cash deposits for non response to notice u/s 133(6) is illegal where assessment was completed u/s 143(3)/147 and 4 years have lapsed. Soon after the demonetization, the Income Tax Department (‘Department’) had launched a scheme called “operation Clean money” for online verification of cash deposits in bank

Conversion of shares as stock-in-trade into investment-no prohibition in law. Res-judicata no bar in like questions in subsequent years-Kolkata High Court

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Conversion of shares as stock-in-trade into investment-no prohibition in law. Res-judicata no bar in like questions in subsequent years-Kolkata High Court ABCAUS Case Law Citation: ABCAUS 1205 (2017) (04) HC The Grievance: The assessee was aggrieved by order passed by the Income Tax Appellate Tribunal (‘ITAT’) The Substantial Question

Land within municipal limits can not be treated agricultural based on revenue record. Revision u/s 263 upheld for wrong DVO report – Allahabad High Court

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Land within municipal limits can not be treated agricultural based on revenue record. Revision u/s 263 upheld for assessment based on wrong DVO report – Allahabad High Court ABCAUS Case Law Citation: ABCAUS 1195 (2017) (04) HC Assessment Year : 2004-05 Date/Month of Pronouncement: March, 2017 Brief Facts of

Revision us 263 on reasons unconnected with grounds of reopening which was for specific purpose. Calcutta High Court upholds revision by CIT

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Revision us 263 on reasons unconnected with grounds of reopening which was for specific purpose. Calcutta High Court upholds revision by CIT  ABCAUS Case Law Citation: ABCAUS 1194 (2017) (04) HC The Substantial Question of Law raised: One of the grounds raised was as under: Whether the Learned Tribunal

Unexplained income-cash deposit in bank after 2-3 months held not probable as withdrawals made in small amounts mostly by employee – P&H High Court

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Unexplained income-cash deposited in bank after 2-3 months gap held not probable as withdrawals made in small amounts mostly by employee – Punjab & Haryana High Court ABCAUS Case Law Citation: ABCAUS 1187 (2017) (03) HC The Grievance: The appellant-assessee had filed the present appeal under Section 260A of

Interest free loan to subsidiary-disallowance for commercial expediency not relevant if advances given out of interest free funds – Punjab & Haryana HC

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Interest free loan to subsidiary-disallowance for commercial expediency not relevant if advances given out of interest free funds – Punjab & Haryana High Court ABCAUS Case Law Citation: ABCAUS 1186 (2017) (03) HC Date/Month of Pronouncement: March, 2017 The Ground of Appeal: The present judgments involves two appeals filed under

Delay in filing appeal condoned as CA was unaware of law. Quality of-explanation, legal assistance and detriment to Revenue important factors-Madras HC

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Delay in filing appeal condoned as CA was unaware of law. Quality of explanation, legal assistance to litigant, and detriment to Revenue important factors to consider- Madras High Court ABCAUS Case Law Citation: ABCAUS 1185 (2017) (03) HC The Moot Question: Can a litigant be prejudiced on account of,
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