Category: High Courts
No addition for inflated statement of stock submitted to banker when no discrepancy was found in physical verification and books of account-High Court uphelds ITAT Decision ABCAUS Case Law Citation: ABCAUS 2134 (2017) (11) HC The appellant assessee was a sole proprietor involved in the business of …
Statements made by stranger-third party in search case unless connected or corroborated could not be attributed to or lead to adverse consequences-HC ABCAUS Case Law Citation: ABCAUS 2133 (2017) (11) HC A search assessment was completed in respect of a group whose premises were subjected to search and …
Section 80-IC deduction unavailable on fixed deposit interest–High Court. The benefit is available only for carrying on business mentioned in sub-section (2) and profits and gains derived therefrom. ABCAUS Case Law Citation: ABCAUS 2131 (2017) (11) HC The Challenge/Grievance: The appellant assessee was aggrieved by the judgment …
Reopening for overlooking transactions with associated enterprises and not referring them to TPO for computation of at arms’ length income was not change of opinion – High Court ABCAUS Case Law Citation: ABCAUS 2130 (2017) (11) HC The petitioner company was incorporated in the United Kingdom and …
High Court bans CA for one year for connivance in anti-dated stock invests issued by Bank and irregular share allotment on the complaint of SEBI ABCAUS Case Law Citation: ABCAUS 2129 (2017) (11) HC In a recent judgment, the Hon’ble high Court in a case involving allegation of …
Conditions u/s 80IA are disjoint not cumulative. Conditions stipulated under section 80IA(4)(i) and 80IA(4)(iv) are held as disjointed by the High Court ABCAUS Case Law Citation: ABCAUS 2127 (2017) (11) HC Important Case Laws Cited/relied upon by the parties: Liberty India v. CIT 1 183 TAXMAN 349 (SC) …
Commissioner can not dismiss revision petition/s 264 on the ground that in assessee’s case similar issue was subject matter of appellate proceedings in other years – High Court ABCAUS Case Law Citation: ABCAUS 2125 (2017) (11) HC The Issue: The petitioner had invoked the writ jurisdiction of …
Voluntary disclosure in all cases cannot absolve liability of concealment penalty. High Court confirmed penalty u/s 271(1)(c) for deferral/avoidance of tax. Willful concealment is not an essential ingredient for attracting civil liability as is the case in the matter of prosecution under section 276C – High Court ABCAUS Case …
Reopening notice u/s 148 quashed as Revenue was indulging in fishing by way of scrutinizing again something that had been specifically gone into- High Court ABCAUS Case Law Citation: ABCAUS 2121 (2017) (11) HC Important Case Laws Cited/relied upon by the parties: Phool Chand Bajrang Lal & …
Department can file appeal notwithstanding Monetary Limits if issue decided by the CIT-Appeals or Tribunal is contrary to the judgments of the Supreme Court-High Court ABCAUS Case Law Citation: ABCAUS 2119 (2017) (11) HC Under the Income Tax Act, 1961 (the Act), section 268A authorises the Central …
