Judgments

  • Income Tax

Entire income of trust can’t be taxed for violation of 12A exemption conditions-SC dismisses SLP

Entire income of trust cannot be taxed for violation of Section 12A exemption conditions. Supreme Court dismisses SLP of Department.…

3 years ago
  • Income Tax

Calcutta High Court stays section 194N for TDS on cash withdrawal from bank

Calcutta High Court stays section 194N for TDS on cash withdrawal from bank In the instant case, the petitioner had…

3 years ago
  • Income Tax

No concealment penalty for claiming capital expenditure as revenue

No concealment penalty for claiming capital expenditure as revenue when there is no conscious and deliberate attempt by assessee to…

3 years ago
  • Income Tax

Penalty u/s 271(1)(c) deleted as quantum addition was reduced significantly

Penalty u/s 271(1)(c) deleted as quantum addition was reduced significantly from 100% to 20% in respect of bogus purchases. In…

3 years ago
  • Income Tax

CIT has no power u/s 263 to direct initiating penalty proceedings u/s 271(1)(c)

CIT assuming jurisdiction u/s 263 has no power to direct initiating penalty proceedings u/s 271(1)(c) CIT Revision u/s 263 for…

3 years ago
  • Income Tax

CIT Revision u/s 263 for failure of AO to convert limited scrutiny into complete scrutiny quashed

CIT Revision u/s 263 for failure of AO to convert limited scrutiny into complete scrutiny quashed as no credible material…

3 years ago
  • Income Tax

Retrospective amendment cannot change tax withholding liability with retrospective effect

Retrospective amendment cannot change tax withholding liability with retrospective effect though it changes tax liability in respect of an income…

3 years ago
  • Income Tax

No addition for cash deposit by housewives during demonetization if less than 2.5 lakhs

AO not allowed to make addition in the hands of the housewives for cash deposit in bank during demonetization if…

3 years ago
  • Income Tax

Rejection of approval u/s 12AA for non filing of return of income Set aside

Rejection of approval u/s 12AA for non filing of return of income set aside. CIT(E) to find if objects of…

3 years ago
  • ICAI

Supreme Court on postponement of CA exams – Read Court’s directions on Opt out option

Supreme Court on postponement of CA exams - Read Court's Directions on Opt out option   The Supreme Court though did…

3 years ago