Judgments

  • Income Tax

Reversal of earlier order by ITAT based on judgment of non jurisdictional HC – SLP dismissed

Reversal of earlier order  by ITAT based on judgment of non jurisdictional High Court. Question kept open though SLP dismissed…

4 years ago
  • Income Tax

Foreign exchange forward contract incidental to export business held not speculative activity

Foreign exchange forward contract incidental to export business to cover up losses due to foreign exchange rate variation not speculative…

4 years ago
  • Supreme Court

Cheque not filled though signed by drawer no defence in trial of offence u/s 138 of NI Act

Cheque not filled though signed by drawer no defence in trial of offence u/s 138 of NI Act. Accused must…

4 years ago
  • GST

Opening GST Portal to allow filing/Revision of TRAN-1. Supreme Court dismisses SLP of Govt.

Opening GST Portal to allow filing/Revision of TRAN-1. Supreme Court dismisses SLP of the Government against order of Punjab &…

4 years ago
  • Income Tax

Denial of Registration 12AA for not spending income by trust. CIT to consider issue u/s 12AA(3) – SC

Denial of Registration 12AA for not spending income by trust. CIT to consider issue u/s 12AA(3) if the facts justify…

4 years ago
  • Income Tax

Registration u/s 12AA can not be denied for non-commencement of activities – Supreme Court

Registration u/s 12AA can not be denied for non-commencement of activities. Registration can be applied for by a new trust.…

4 years ago
  • Income Tax

Penalty notice u/s 271AAB without specifying percentage clause held invalid

Penalty notice u/s 271AAB without specifying at what percentage the penalty will be levied makes it defective and invalid and…

4 years ago
  • Income Tax

Fixed medical allowance to employees taxable without proof of actual medical expenditure

Fixed medical allowance to employees taxable without proof that medical expenditure actually incurred. ITAT upheld addition u/s 201(1) for short…

4 years ago
  • Income Tax

Profit on Hawala/Bogus purchase/accommodation entries @ 5% upheld by High Court.

Profit on Bogus purchase/ accommodation entries @ 5% upheld by the High Court. Only profit element embedded is to be…

4 years ago
  • Income Tax

“records” for Revision u/s 263 include records related to preceding assessment years also

For Revision u/s 263, records include records relating to assessment proceedings of preceding assessment years ABCAUS Case Law Citation:ABCAUS 3271…

4 years ago