Judgments

  • Income Tax

Rule 8D can not be applied without giving reasons – Supreme Court rejects SLP of ITD

Rule 8D can not be applied without giving reasons. Unless AO rejects explanation of the assessee with some reasoning, mere…

5 years ago
  • Benami

Merely giving financial help by father to sons to purchase properties not benami transaction – SC

Merely giving financial assistance by father to sons to purchase properties it could not be said to benami transaction -…

5 years ago
  • Income Tax

Retraction from surrender without evidence/proof not permissible-SC quashes SLP of assessee

Retraction from the surrender without having evidence or proof not permissible in the eyes of law. Supreme Court quashed SLP…

5 years ago
  • ICSI

Order holding CS guilty of misconduct set aside for non opportunity on quantum of punishment

Order holding CS guilty of misconduct set aside as no opportunity was provided on the question of quantum of punishment…

5 years ago
  • Excise/Custom

Dharmada collected voluntarily from buyer not part of transaction value for sale of goods –SC

Dharmada collected as optional payment by buyer not part of transaction value for the sale of goods –Supreme Court quashes…

5 years ago
  • Income Tax

Validity of notice u/s 148 where assessment made u/s 143(1)- SC quashes High Court order

Validity of notice u/s 148 where assessment was made u/s 143(1)- Supreme Court quashed High Court order that no substantial question of law…

5 years ago
  • Income Tax

Sale of client relationship/ goodwill by CA firm held capital asset eligible for exemption u/s 54EC

Sale of client relationship and goodwill by CA firm was of capital asset u/s 2(14) chargeable to tax under the…

5 years ago
  • Income Tax

Capital introduced by partner can not be taxed in firms hand as undisclosed income

Capital introduced by partner can not be taxed in firms hand as undisclosed income. It could be added in the…

5 years ago
  • Income Tax

DVO reference invalid where value of property is more than FMV as on April 1, 1981

DVO reference u/s 55A invalid where value was more than FMV as on April 1, 1981 as per approved valuer's…

5 years ago
  • Income Tax

No concealment penalty for bonafide error of chartered accountant in claiming deduction u/s 80IC

No concealment penalty for bonafide error of chartered accountant in claiming wrong deduction u/s 80IC by choosing incorrect initial assessment…

5 years ago