Category: Judgments
Carry forward of unabsorbed depreciation beyond 8 years for periods prior to amendment to section 32(2)- SC dismisses SLP of the ITD ABCAUS Case Law Citation: ABCAUS 2746 (2019) (01) SC The Hon’ble Supreme Court has dismissed the Special Leave Petition (SLP) of the Income Tax Department against …
Reopening for verification of purchases from hawala dealer-Supreme Court dismisses SLP of the Department challenging dismissal of appeal by High Court ABCAUS Case Law Citation:ABCAUS 2745 (2019) (01) SC The Hon’ble Supreme Court has dismissed the Special Leave Petition (SLP) of the Income Tax Department against the decision …
Supreme Court upheld Constitutional Validity of various provisions of the Insolvency and Bankruptcy Code, 2016 ABCAUS Case Law Citation: ABCAUS 2744 (2019) (01) SC Important Case Laws Cited/relied upon: Madras Bar Association v. Union of India, (2015) 8 SCC 583 The Petitioners had challenged the constitutional validity of …
No penalty u/s 271D can be levied when cash loans were treated as undisclosed income of the assessee u/s 68 of the Income Tax Act – ITAT ABCAUS Case Law Citation: ABCAUS 2743 (2019) (01) ITAT Important Case Laws Cited/relied upon: Diwan Enterprises vs. CIT CIT vs. Standard …
Reopening of assessment for past years on account of the cancellation of Registration u/s 12AA is not permissible unless registration was obtained by fraud, collusion or concealment of any material fact ABCAUS Case Law Citation:ABCAUS 2742 (2019) (01) HC The Petitioner had filed the instant Petition against the …
Supreme Court stays arrest of petitioner under GST Act, directs release on bail in the event of arrest ABCAUS Case Law Citation: ABCAUS 2741 (2019) (01) SC The Hon’ble Supreme Court has stayed the arrest of the petitioner under GST Act on the condition that he appears before …
Prosecution u/s 278B without proof of service of notice u/s 2(35) expressing intention treating a person as Principal Officer of the Company quashed ABCAUS Case Law Citation:ABCAUS 2740 (2019) (01) AC Important Case Laws Cited/relied upon:V.P. Punj Vs. Asstt. CIT, 2001, 119 TAXMAN 543 Delhi, Sushil Suri and Ors. Vs. State & Ors. (2008) 303 ITR 86 Madhumilan Syntex Ltd. and Ors. Vs. Union of India (SC)Greatway (P) Ltd. & Ors. Vs. Asstt. CIT, 199 ITR 391 (P&C),ITO Vs. Roshini Cold Storage (P) Ltd. and Ors., (2000) 245 ITR 322 (Mad)Income Tax …
ITAT analyses validity of notice u/s 143(2) by non jurisdictional AO. On objection, AO obligated to refer matter for determination of jurisdiction u/s 124(2) ABCAUS Case Law Citation: ABCAUS 2739 (2019) (01) ITAT Important Case Laws Cited/relied upon: ACIT Vs. Hotel Blue Moon (2010) 321 ITR 362 (SC) …
When assessee during assessment proceedings voluntarily admitted mistake then mere absence of revised return would not justify penalty u/s 271(1)(c) ABCAUS Case Law Citation: ABCAUS 2738 (2019) (01) ITAT Important Case Laws Cited/relied upon: CIT Vs. Man Industries Ltd.(2018) 164 DTR (Bom) 165 CIT Vs. Somany Evergreen Knits …
For discrepancy in salary figure between Form No. 16 and 26AS it cannot be said that the assessee has concealed amount or furnished inaccurate particulars of income – ITAT ABCAUS Case Law Citation: ABCAUS 2737 (2019) (01) ITAT During scrutiny proceedings u/s 143(3) of the Income Tax Act, …