Category: High Courts
Television news software produced was eligible for deduction 80HHE as customized electronic data which is transmitted from India to a place outside India. ABCAUS Case Law Citation: ABCAUS 2049 (2017) (08) HC The Grievance: The appellant Revenue was aggrieved by the order of the ITAT in allowing …
Profits from sale of investments by Insurance Company held exempt in view of CBDT Circular. The income so earned was taxable only from AY 2011-12 ABCAUS Case Law Citation: ABCAUS 2048 (2017) (08) HC The Substantial Question of Law framed for determination: There were three appeals, one …
Unexplained Cash Credits in Bank Statements held taxable u/s 68. Non production of document is different from not maintaining Books of Account – High Court In a recent judgment, Bombay High Court held that unexplained Cash Credits in Bank Statements held taxable u/s 68. ABCAUS Case Law Citation:ABCAUS 2045 (2017) …
Recording AO satisfaction must for exempt income disallowance u/s 14A(2) and Rule 8(D) of the Income Tax Rules, 1962. High Court reverses ITAT judgment ABCAUS Case Law Citation: ABCAUS 2042 (2017) (08) HC Important Case Laws Cited/relied upon by the parties: Godrej and Boyce Mfg. Co. Ltd. v. …
Commissioner ordered to pay VAT Special Audit Fee to CA Firm when assessee defaulted despite there was no provision for direct payment at the relevant time ABCAUS Case Law Citation: ABCAUS 2040 (2017) (08) HC The Grievance: In the instant case, six writ petitions had been filed by …
Exemption us 10(23)(C)(vi)- By not applying provisions of the Right of Education Act, it cannot be said that the assessee is not doing any genuine educational activities. ABCAUS Case Law Citation: ABCAUS 2038 (2017) (08) HC Important Case Laws Cited/relied upon by the parties: Amrawati Welfare Society vs. …
Advances converted into reserves not cessation of liability u/s 41(1). Pre-conditions / Tests to be applied for applicability of the deeming provisions as laid by Supreme Court ABCAUS Case Law Citation: ABCAUS 2034 (2017) (08) HC Assessment Year : 2000-01 Important Case Laws Cited/relied upon by the parties: …
Non-renewal of THC cannot deprive supporting manufacturer of deduction u/s 80HHC(1A). Lgislative intent is to extend benefit either to exporter or to supporting manufacturer and not to both – High Court ABCAUS Case Law Citation: ABCAUS 2033 (2017) (08) HC Assessment Year : 1996-97 Important Case Laws Cited/relied …
Important judgment on EPS payment by exempted establishment under Section 17(1)(C) by Kerala High Court in the case of cooperative bank Hon’ble High Court of Kerala has dismissed the Petition flied by an exempted establishment challenging the assessment order passed by Kannur. P.F. office. The petition was filed …
Peak credit theory not applicable if deposits are unexplained u/s 68. High Court overruled ITAT decision where CA was providing accomodation entries and could not explain the deposits in his bank account. The Court held that where assessee is unable to explain the sources of deposits and the corresponding …
