Category: High Courts
Deemed dividend upheld when amount was parked in long term investments and hence could not qualify as to be made in the course of business – High Court ABCAUS Case Law Citation: ABCAUS 2219 (2018) (02) HC The Challenge/Grievance: The case law involves an appeal filed by the …
Section 47A(3) can be invoked only if benefit u/s 47 is claimed. High Court uphelds deletion of payment of brand name royalty to proprietor on takeover. ABCAUS Case Law Citation: ABCAUS 2218 (2018) (02) HC The Challenge/Grievance: The case law involves the appeal filed by the Income Tax …
Expenses prior to setting up or running of business are capital in nature-High Court upheld ITAT order allowing capitalisation of pre-operative expenses ABCAUS Case Law Citation: ABCAUS 2217 (2018) (02) HC The case law involves the appeal filed by the Income Tax Department (Revenue) against the order of …
Lease equalization charges are deductible in computing book profit. Provisions for NPA are also not need to be added back-High Court ABCAUS Case Law Citation: ABCAUS 2216 (2018) (02) HC The Challenge/Grievance: The case law involves the appeal filed by the Income Tax Department (Revenue) against the order …
Activities of animal care is advancement of object of general public utility. Society was entitled to benefit of Section 80G as amount spent was less than Rs. 10 lacs – High Court ABCAUS Case Law Citation: ABCAUS 2215 (2018) (02) HC The Challenge/Grievance: The case law involves the …
Voluntary surrender of income no defence for concealment penalty u/s 271(1)(c) unless explanation offered is found bona fide and all material facts are disclosed-High Court ABCAUS Case Law Citation: ABCAUS 2212 (2018) (02) HC The Challenge/Grievance: The present judgment involves the appeal filed by the Income Tax Department …
Excessive expenses on Magazine and Journals by 5-Star hotel. High Court remands the issue to Tribunal for fresh findings on nature of publications, their use per rooms etc. ABCAUS Case Law Citation: ABCAUS 2210 (2018) (02) HC The Challenge/Grievance: The present judgment involves the appeal filed by the …
Providing mid day meals to students is charitable activity as general public utility u/s 2(15)-High Court uphelds ITAT order directing registration u/s 12AA ABCAUS Case Law Citation: ABCAUS 2209 (2018) (02) HC The Challenge/Grievance: The Revenue had filed the appeal under Section 260-A of the Income Tax Act, …
CESTAT erred in granting Cenvat Credit on Boiler Structure on the basis of CBEC Circular-High Court ABCAUS Case Law Citation: ABCAUS 2208 (2018) (02) HC The Commissioner Central Excise (Revenue) had filed an appeal under Section 35-G of Central Excise Act, 1944 read with Section 174 of Central …
Membership Fee paid to Stock Exchange is Capital Expenditure applying “enduring benefit” and “once and for all” payment test-High Court ABCAUS Case Law Citation: ABCAUS 2207 (2018) (02) HC The Challenge/Grievance: The appellant assessee had filed the instant appeal under Section 260A of the Income Tax Act, 1961 …