Judgments

  • Income Tax

CIT Revision u/s 263- the word ‘erroneous’ includes the failure to make an inquiry when circumstances would make such it prudent

In a recent judgment, ITAT held that  the word ‘erroneous’ in section 263 includes the failure to make an inquiry when…

8 years ago
  • Income Tax

Addition u/s 69 for discrepancies in stocks was business income to be considered for computing partners remuneration under Section 40(b)

In a recent judgment, ITAT Chennai has upheld that Addition u/s 69 for discrepancies in stocks was business income and has…

8 years ago
  • Income Tax

No disallowance u/s 40A(2)(b) when payees assessed at maximum rate. Excessive directors remuneration disallowance quashed

In a recent judgment, Ahmedabad ITAT quashed disallowance for excessive directors remuneration stating that section 40A(2)(b) disallowance is not to be invoked when…

8 years ago
  • Supreme Court

5 judge Bench of SC recalls its 2013 controversial judgment which quashed National Eligibility Entrance Test as unconstitutional

The Supreme Court recalls its judgment delivered on 28-07-2013 delivered by a three judge Bench which had quashed the National…

8 years ago
  • Income Tax

Reopening notice u/s 148 served by affixture at a wrong address and consequent re-assessment made u/s 147/148 invalid.

In a latest judgment, ITAT Chandigarh has held that notice u/s 148 of the Income Tax Act, 1961 served upon by affixture at…

8 years ago
  • Income Tax

Post office not an agent of the assessee. Notice u/s 143(2) dispatched to post office on the last date of limitation period not service to the assessee.

In a latest judgment, ITAT Delhi has held that post office is not an agent of the assessee. Notice u/s 143(2)…

8 years ago
  • Income Tax

Delhi ITAT granted stay beyond 365 days holding that delay was not attributable to assessee and his conduct was bonafide and reasonable

In a recent judgment, ITAT Delhi following Pepsi Foods (P) Ltd case  has granted stay beyond 365 days in a re-fixed…

8 years ago
  • Income Tax

Merely writing yes/approved and affixing signature by CIT is not proper satisfaction

Merely writing yes/approved and affixing signature by CIT is not proper satisfaction for a fit case for re-opening u/s 147…

8 years ago
  • Income Tax

2D/3D seismic survey activity carried by assessee in connection with oil exploration was not fees for technical services u/s 9(1)(vii) but liable u/s 44BB

In a latest judgment, the Delhi High Court has held that activity of 2D/3D seismic survey carried on by assessee in…

8 years ago
  • Income Tax

There is a difference in “facts not proved” and “facts disproved” and penalty u/s 271(1)(c) can be levied only for the latter

In a latest judgment, ITAT Chennai has quashed penalty proceedings u/s 271(1)(c) for concealment holding that  there is a difference…

8 years ago