Category: Income Tax
AO can not ask indemnity bond for future tax liability for release of seized assets u/s 132B(1)- High Court deleted the relevant paragraph of the release order. In the instant case, the petitioner assessee had challenged the part of the release order passed by the Income Tax Officer …
80HHC deduction entitlement to supporting manufacturer who receives export incentives as duty draw back, Duty Entitlement Pass Book etc.-SC refers the question to larger Bench The instant judgment was given in a batch of appeals filed by the Revenue in relation to the interpretation of the provisions contained …
Guidelines issued by CPC for claiming Exemption u/s 10 & 11 As per the provisions of Income Tax Act, the exemption of income under sections 10 and 11 is governed by certain statutory conditions and procedures. In order to assist you in complying with these conditions and procedures, …
Deduction allowed as per Guidance Note of ICAI for lease equalization charges as there was no express bar in Income Tax Act regarding bifurcation of lease rental-SC A batch of appeals had been filed by the Income Tax Department (Revenue) against the judgment and order passed by the …
Stock Appreciation Rights received prior to 01.04.2000 not perquisite u/s 17(2)(iiia) such provisions being not retrospective-Supreme Court The Revenue had filed the instant appeal against the judgment of the High Court in upholding that the amount received on redemption of Stock Appreciation Rights (SARs) was to be …
Interest earned on share application money kept in fixed deposit was liable to be set off against the public issue expenses-Supreme Court The question for consideration was whether in the facts and circumstances of the case, interest accrued on account of deposit of share application money was taxable …
Satisfaction u/s 158BD can not be arrived without examination, verification of seized books documents. SC uphelds validity of notice issued by AO The appellant assessee had filed the instant appeal against the impugned judgment passed by the High Court by which it dismissed the appeal of the appellant …
Supplying blue prints can be considered as technical services u/s 80-O but deduction rightly denied as they were not produced before lower authorities-Supreme Court The instant appeal had been filed against the judgment passed by the High Court of Delhi whereby the Division Bench dismissed the appeal filed …
Reassessment on change of opinion on the same facts and circumstances already in AO’s knowledge during the original assessment proceedings invalid-SC ABCAUS Case Law Citation: ABCAUS 2301 (2018) (04) SC The appellant Revenue had filed the instant appeal against the judgment of Delhi High Court quashing the notice …
Guidelines for dealing with information under Benami Transactions Informants Reward Scheme 2018. The CBDT has laid down the guidelines for for dealing with information under the Benami Transactions Informants Reward Scheme, 2018 (‘the Scheme’) in the form of internal procedure for dealing with the matters under the Scheme …
