Category: High Courts
Cash credit entries in books of a firm, in absence of material to indicate that they were its profits, could not be assessed in the hands of the firm ABCAUS Case Law Citation:ABCAUS 3304 (2020) (05) HC Important case law relied upon by the parties:Deputy Commissioner of Income …
Expression “any previous year” in Section 68 refers to previous year relevant to the Assessment Year in question – High Court ABCAUS Case Law Citation:ABCAUS 3287 (2020) (03) HC Important case law relied upon by the parties:Commissioner of Income-Tax, Poona Vs. Bhaichand H. Gandhi, 141 ITR 67Commissioner of …
Profit on Bogus purchase/ accommodation entries @ 5% upheld by the High Court. Only profit element embedded is to be taxed not entire purchase ABCAUS Case Law Citation:ABCAUS 3272 (2020) (02) HC Important case law relied upon by the parties:Kaveri Rice Mills vs. Commissioner of Income-Tax, (2006)157 Taxman …
e-Assessment proceedings can lead to erroneous assessment if AO not able to understand transactions and accounts without a personal hearing ABCAUS Case Law Citation:ABCAUS 3263 (2020) (02) HC Important case law relied upon by the parties:Smt. Shrilekha Banerjee Vs. CIT 1964 AIR SC 697 In the instant case, …
Prosecution u/s 276CC-Failure to file ITR was not willful due to seizure of documents required by assessee for examination before filing the return u/s 153A ABCAUS Case Law Citation:ABCAUS 3260 (2020) (02) HC Prosecution u/s 276CC-Failure to file ITR held not willful In the instant case, the Income …
In absence of accounts/certificate of agriculture activity claimed to have been carried out, mere affidavit not sufficient to discharge the burden ABCAUS Case Law Citation:ABCAUS 3257 (2020) (02) HC Important case law relied upon by the parties:Smt. Prem Sundari vs. CIT The appellant assessee was engaged in the …
Reopening u/s 147 /148 for escaped interest income upheld when AO by oversight failed to assess interest income duly disclosed in the books of accounts ABCAUS Case Law Citation:ABCAUS 3256 (2020) (02) HC Important case law relied upon by the parties:Commissioner of Income-Tax v. Corporation Bank Ltd. (2002) …
Backward area declared u/s 80HH(2) do not apply to section 80-IA(2)(iv)(c) as both sections are separate and have independent provisions ABCAUS Case Law Citation:ABCAUS 3238 (2020) (01) HC Important case law relied upon by the parties:Ace multi axes systems limited’, (2017) 88 taxmann.com 69 (SC).Commissioner of Income Tax …
High Court condemns GST officials staying 8 days at searched residential house, says such action punishable with three years jail term under IPC ABCAUS Case Law Citation:ABCAUS 3234 (2020) (01) HC Important case law relied upon by the parties:Income Tax Officer v. Seth Brothers, (1969) 74 ITR 836 (SC)Dr. Nand Lal Tahiliani v. Commissioner of …
Payment of interest on interest on delayed refund u/s 244A. Delayed refund becomes part of principle amount and delayed interest includes interest for not refunding it. ABCAUS Case Law Citation:ABCAUS 3204 (2019) (12) HC Important case law relied upon by the parties:Sandvik Asia Ltd. Vs. Commission of Income …