Category: High Courts
High Court imposes penalty of Rs. 50,000/ on Income Tax Department for harassment of assessee in illegally attaching bank account and denying stay of demand ABCAUS Case Law Citation:ABCAUS 2862 (2019) (04) HC Important Case Laws Cited/relied upon by the parties KEC International Ltd. Vs. B.R. Balkrishnan, 251 ITR 158MMRDA Vs. Deputy DIT (Exemption) (2015) 230 Taxman 178 In the instant case, …
Attachment of Property under PMLA and bonafide third party claim – High Court explain the law and Prerequisites for a valid claim ABCAUS Case Law Citation: ABCAUS 2858 (2019) (04) HC In the instant case law, several appeals had been filed under Section 42 of the Prevention …
Make My Trip was not liable to deduct TDS on gateway charges payments to Banks – High Court upheld ITAT action in deleting addition u/s 40(a)(ia) ABCAUS Case Law Citation: ABCAUS 2850 (2019) (03) HC Important Case Laws Cited/relied upon by the parties Commissioner of Income Tax v …
Share application money received vastly in excess of the authorized capital was valid reasons to issue reassessment notice u/s 148 – High Court ABCAUS Case Law Citation: ABCAUS 2849 (2019) (03) HC Important Case Laws Cited/relied upon by the parties Sheo Nath Singh vs. ACIT, 82 ITR 148 …
Compensation made to the flat allottees for surrendering rights allowed as business expenditure of the assessee in view of Completed Contract Method of Accounting ABCAUS Case Law Citation: ABCAUS 2843 (2019) (03) HC Important Case Laws Cited/relied upon by the parties Shahzada Nand & Sons v. CIT, Patiala …
Transporters/Trucks owners can be proceeded against under UPGST Act despite not doing business in respect of sale/ purchase of goods – High Court ABCAUS Case Law Citation: ABCAUS 2837 (2019) (03) HC In the instant case, the petitioners were the Truck owners who challenged the individual notices issued …
Section 50C can be applied after claiming exemption u/s 54EC of the Income Tax Act. Any other interpretation would render the provisions redundant – High Court ABCAUS Case Law Citation: ABCAUS 2836 (2019) (03) HC Important Case Laws Cited/relied upon by the parties CIT Vs. Amarchand N. Shroff, (1963) 48 ITR 59 (SC) CIT Vs. Vadilal Lallubhai (1972) 86 ITR 2 (SC) K.P. …
No deemed dividend u/s 2(22)(e) when assessee not the beneficial owner of shares. Issue pending before larger bench of Supreme Court was not relevant – High Court ABCAUS Case Law Citation: ABCAUS 2835 (2019) (03) HC Important Case Laws Cited/relied upon by the parties Universal Medicare National Travel …
Seat of ITAT not AO decides jurisdiction of High Court to which appeal would lie. High Court explains the law on jurisdiction over ITAT ABCAUS Case Law Citation: ABCAUS 2834 (2019) (03) HC Important Case Laws Cited/relied upon by the parties CIT Vs. Sahara India Financial Corp. Ltd. …
Amount forfeited on default of installment for purchase of property was capital in nature as the amount was fixed irrespective of which installment the assessee failed to pay – High Court ABCAUS Case Law Citation:ABCAUS 2833 (2019) (03) HC Important Case Laws Cited/relied upon by the parties Commissioner …
