Category: High Courts

Shareholders are only owners of the shares of the company therefore, income from properties earned by the company cannot be treated to be an income of the shareholders. In a recent judgment, Hon’ble High Court has held that shareholders of the company are only owners of the shares …

When approval for reassessment was granted by unauthorised authority, such jurisdictional error cannot be shielded by the law of limitation – High Court In a recent judgment, Calcutta high Court has held where approval for reassessment was granted by an authority not “specified” under the statute, such jurisdictional …

ITAT on presumption of bogus purchases ought to have remanded case to AO to reconsider the whole matter instead of determining appropriate percentage of profit In a recent judgment, Kerala High Court has held that when ITAT ordered a remand on the question whether there were “bogus purchases” …

Issuance of single consolidated show-cause notice u/s 73/74 of Central Goods and Services Tax Act, 2017 for multiple financial years – Issue referred to larger bench of High Court In a recent judgment, a Division Bench of High Court referred to Larger Bench the issue of the issuance …

There is no prohibition to entertain a complaint at the instance of spouse of a CA for the reason that it relates to a family dispute – High Court  In a recent judgment, Hon’ble High Court has held under ICAI Regulations that there is no prohibition to entertain …

No addition when cash deposited in bank was out of cash in hand available with the assessee and AO could not show that cash in hand was spent otherwise In a recent judgment, Hon’ble Allahabad High Court dismissed Revenue’s appeal confirming ITAT order that there can be no …

Return/Balance sheet to be considered as being within time if filed within timeline condoned by Hon’ble Supreme Court due to Covid-19 In a recent judgment, Hon’ble Allahabad High Court has set aside the order of CIT(Exemption) passed u/s 119(2(b) and order u/s 154 passed by the Assessing Officer …

Same transaction cannot be subject matter of assessment under Section 147 twice; one by the ITO and the other by the DCIT – High Court  In a recent judgment High Court quashed notice passed u/s 148 holding that same transaction cannot be subject matter of assessment under Section …

Income of section 25 company by deploying ex-servicemen as security guards was not business activity. In a recent judgment, Kerala High Court has held that income by deploying ex-servicemen as security guards was not business activity for section 25 company established for assistance to the Ex-Servicemen. ABCAUS Case …

In absence of a valid final assessment order passed within statutory time frame, draft assessment order cannot give rise to any enforceable demand  In a recent judgment, Calcutta High Court has held that in the absence of a valid final assessment order passed within the statutory time frame …