Judgments

  • Income Tax

Stock Exchange transaction charges payment by members not for technical services requiring TDS u/s 194J -SC

In its latest judgment, the Supreme Court has held that the transaction charges paid to the Bombay Stock Exchange by its…

8 years ago
  • Income Tax

Indian National Congress Party (INC-I) not entitled to exemption u/s 13A being failed comply with three conditions of the section 13A

In a recent judgment, the Delhi High Court has held that Indian National Congress Party (INC) (I) not entitled to…

8 years ago
  • Income Tax

Mere AIR information that deposits made in bank account not indicative that income has escaped assessment u/s 147

In a recent judgment, ITAT Amritsar has upheld that the mere AIR information that deposits were made in a bank account do…

8 years ago
  • Income Tax

Additions u/s 69A upheld for maximum peak bank deposits instead of closing balances for the day

In a recent judgment, ITAT, Amritsar has ruled that CIT(A) was right in taking the the highest amount of cash deposits…

8 years ago
  • Income Tax

Keyman Insurance Policy (KIP) Premium is an allowable business expenditure

In a recent judgment, ITAT Amritsar has endorsed that Premium of Keyman Insurance Policy (KIP) is an allowable business expenditure. Case…

8 years ago
  • Income Tax

Shipping charges using non-resident shipping are not liable to TDS u/s 172(8) as supplemented by CBDT Circular No. 723/1995

ITAT Amritsar, in a recent judgment has held that shipping charges (Inland haulage charges, Terminal handling charges, Bunker adjustment factor,…

8 years ago
  • Income Tax

Expenditure incurred for software development are capital expenditure

Calcutta High Court in a recent judgment has held that expenditure incurred for software development was  capital expenditure Case Details: ITA…

8 years ago
  • Income Tax

Exemption u/s 10(22A) 10(23C)(iiiac)-Nexus between activities of hospital/institution and the income is essential for claim

In a recent judgment, Calcutta High Court has held that to claim exemption under section 10(22A), existence of a nexus between…

8 years ago
  • Income Tax

Disallowance u/s 14A/Rule 8D upheld where major part of partners capital, bank and unsecured loans were stuck up in receivables

In a recent judgment, ITAT, Amritsar has upheld the disallowance u/s 14A read with Rule 8D where major part of partners…

8 years ago
  • Income Tax

Assessment u/s 263 based on judgement delivered after the date of original assessment bad

Assessment in pursuance of order u/s 263 based on a judgement subsequent to the date of original assessment cannot be…

8 years ago