Category: High Courts

Receipt of ITAT order by any CIT triggers limitation period u/s 260A(2)(a). It refers to only designations which include CIT(Judicial) – Delhi High Court

Receipt of ITAT order by any CIT triggers limitation period u/s 260A(2)(a). It refers to only designations which include CIT(Judicial) – Delhi High Court

March 24, 2017 High Courts, Income Tax, Judgments
Receipt of ITAT order by any CIT triggers limitation period u/s 260A(2)(a). In a recent judgment, the Hon’ble Delhi High Court has held that the terms used in the relevant sub-section are the only designations of the officers who could receive a copy of the order. Therefore, in the …
Interest expenditure Disallowance u/s 36(1)(iii)-Allahabad High Court says business expediency not a must, earlier Division Bench decision was not a good law

Interest expenditure Disallowance u/s 36(1)(iii)-Allahabad High Court says business expediency not a must, earlier Division Bench decision was not a good law

March 10, 2017 High Courts, Income Tax, Judgments
Interest expenditure Disallowance u/s 36(1)(iii) for interest free loan-Allahabad High Court says business expediency not a must, earlier Division Bench decision was not a good law, pronounced in ignorance. ABCAUS Case Law Citation: ABCAUS 1166 (2017) (03) HC The Grievance: The appellant assessee was aggrieved by part of the …
No Section 54F exemption if construction not started within time prescribed. Development charges paid not start of construction-Allahabad HC

No Section 54F exemption if construction not started within time prescribed. Development charges paid not start of construction-Allahabad HC

March 9, 2017 High Courts, Income Tax, Judgments
No Section 54F exemption if construction not started within time prescribed. Development charges paid not start of construction-Allahabad HC In a recent judgment, the Hon’ble Allahabad High Court has held that capital gain exemption u/s 54F not allowable if construction not started within prescribed time. ABCAUS Case Law …
Royalty and fee for technical assistance held revenue expenditure not capital as on termination of agreement all rights of the assessee stood extinguished.

Royalty and fee for technical assistance held revenue expenditure not capital as on termination of agreement all rights of the assessee stood extinguished.

March 8, 2017 High Courts, Income Tax, Judgments
Royalty and fee for technical assistance held revenue expenditure not capital as on termination of agreement all rights of the assessee stood extinguished. The judgment was delivered by the Hon’ble Allahabad High Court in a batch of similar cases. ABCAUS Case Law Citation: ABCAUS 1160 (2017) (03) HC Question …
Commercial expediency-Disallowance for loan-advance u/s 40A(2).Once commercial expediency established beyond doubt no further test to be applied -Allahabad High Court

Commercial expediency-Disallowance for loan-advance u/s 40A(2).Once commercial expediency established beyond doubt no further test to be applied -Allahabad High Court

March 2, 2017 High Courts, Income Tax, Judgments
Commercial expediency-Disallowance for loan-advance u/s 40A(2).Once commercial expediency established  beyond doubt no further test to be applied -Allahabad High Court   ABCAUS Case Law Citation: ABCAUS 1152 (2017) (03) HC Question for determination: In short, the question sought to be answered by the Hon’ble High Court was whether …
Private company director held liable for tax defaults u/s 179 of Income-tax if in true sense company not acted as public limited company

Private company director held liable for tax defaults u/s 179 of Income-tax if in true sense company not acted as public limited company

February 28, 2017 High Courts, Income Tax, Judgments
Private company director held liable for tax defaults by lifting corporate veil us 179 of Income-tax if in true sense company not acted as public limited company ABCAUS Case Law Citation: ABCAUS 1149 (2017) (02) HC The Grievance: The petitioner, had challenged the legality, validity and propriety of …

CMA-Writ against 3 years exemption withdrawal in cost accountancy exam dismissed. Amendment to ICMAI Regulation 41(2) not retrospective-High Court

February 27, 2017 CA CS CMA, High Courts, Judgments
CMA-Writ against 3 years exemption withdrawal in cost accountancy exam dismissed. Amendment to ICMAI Regulation 41(2) not retrospective-High Court ABCAUS Case Law Citation: ABCAUS 1146 (2017) (02) HC Important Case Laws Cited/relied upon: All India Council for Technical Education vs. Surinder Kumar Dhawan & Ors. (2009) 11 SCC 726 …