Category: Judgments
Relinquishing ESOP right accrued are taxable as capital gains not profits in lieu of salary u/s 17(3)(iii) – ITAT ABCAUS Case Law Citation ABCAUS 3625 (2022) (12) ITAT Important Case Laws relied upon:CIT vs. Sarangpur Cotton Manufacturing Co. Ltd., 6 ITR 36CIT vs. A. Krishnaswami Mudaliar & Ors. …
Assessee’s time cannot be taken for granted by Income Tax Department. Assessee can not be made to appear before the tax authorities again and again ABCAUS Case Law Citation ABCAUS 3624 (2022) (12) ITAT Important Case Laws relied upon:Alkaben B. Patel vs. ITO43 Taxmann.com 333 (Ahm)Sujatha Ramesh vs. …
Investor companies having low income and assets in the form of investments have been created through rotation of money in between the group companies not enough ground to prove that any unaccounted money of the assessee has been introduced in the assessee company warranting addition under section 68 …
Issues already considered by CIT(A) in his order, cannot be again a subject matter of revision by Pr CIT u/s 263 ABCAUS Case Law Citation ABCAUS 3622 (2022) (12) ITAT Important Case Laws relied upon:Southern Motors vs State of Karnataka (2017) 3 SCC 467 (SC) In the instant …
Whether AO applied his mind or not is question of fact not law – SC dismisses SLP of Department challenging setting aside of revisionary order passed u/s 263 of the Income Tax Act 1961 ABCAUS Case Law CitationABCAUS 3621 (2022) (11) SC In the instant case, the Income …
No Prohibition in law on travelling abroad if proceedings u/s 10 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 have been initiated ABCAUS Case Law CitationABCAUS 3620 (2022) (11) AC Important Case Laws relied upon:Parvez Noordin LokhandwalaSatwant Singh Sawhney vs. D. …
Challenged to IBC by a Chartered Accountant refused by Supreme Court for want of locus and bonafide. ABCAUS Case Law CitationABCAUS 3619 (2022) (11) SC In the instant case, a Chartered Accountant (CA) has in the guise of public interest to sought to invoke the jurisdiction of the …
Date of initiation of penalty proceedings in assessment order is the relevant date u/s 275(1)(c) for limitation purpose. ABCAUS Case Law CitationABCAUS 3618 (2022) (11) HC Important Case Laws relied upon by parties Principal Commissioner of Income-Tax vs. Mahesh Wood Products Pvt. Ltd.Principal Commissioner of Income-Tax vs. JKD …
Airlines required to deduct tax at source (TDS) u/s 194H on supplementary commission of travel agents – Supreme Court ABCAUS Case Law CitationABCAUS 3617 (2022) (11) SC Important Case Laws relied upon by partiesHindustan Coca Cola Beverages Pvt. Ltd. v.Commissioner of Income TaxAhmedabad Stamp Vendors Ass.v. Union of …
Bribe whether proceed of crime under PMLA – intent is important says Supreme Court ABCAUS Case Law CitationABCAUS 3616 (2022) (11) SC Bribe whether proceed of crime under PMLA ? In the instant case, The Central Bureau of Investigation (the CBI) checked a car parked in front of …
