Category: Judgments
Section 50C can be applied after claiming exemption u/s 54EC of the Income Tax Act. Any other interpretation would render the provisions redundant – High Court ABCAUS Case Law Citation: ABCAUS 2836 (2019) (03) HC Important Case Laws Cited/relied upon by the parties CIT Vs. Amarchand N. Shroff, (1963) 48 ITR 59 (SC) CIT Vs. Vadilal Lallubhai (1972) 86 ITR 2 (SC) K.P. …
No deemed dividend u/s 2(22)(e) when assessee not the beneficial owner of shares. Issue pending before larger bench of Supreme Court was not relevant – High Court ABCAUS Case Law Citation: ABCAUS 2835 (2019) (03) HC Important Case Laws Cited/relied upon by the parties Universal Medicare National Travel …
Seat of ITAT not AO decides jurisdiction of High Court to which appeal would lie. High Court explains the law on jurisdiction over ITAT ABCAUS Case Law Citation: ABCAUS 2834 (2019) (03) HC Important Case Laws Cited/relied upon by the parties CIT Vs. Sahara India Financial Corp. Ltd. …
Amount forfeited on default of installment for purchase of property was capital in nature as the amount was fixed irrespective of which installment the assessee failed to pay – High Court ABCAUS Case Law Citation:ABCAUS 2833 (2019) (03) HC Important Case Laws Cited/relied upon by the parties Commissioner …
Capital gain arose in the year assessee relinquished his rights in the property at the time of allotment by executing agreement to sell ABCAUS Case Law Citation: ABCAUS 2832 (2019) (03) ITAT The Income Tax Department had challenged the order of the CIT(A) in deleting the capital gain …
Settlement Commission not precluded from proceeding despite non disclosure of prosecution for the period in question as pre-requisites not require so. ABCAUS Case Law Citation: ABCAUS 2831 (2019) (03) HC The Petitioner Income Tax Department had approached the Hon’ble High Court for quashing the order of the Income …
Simply because order of Settlement Commission was not liked by department, it would not invite different opinion by the High Court unless order is questioned on merits or manner of discharge or on perversity ABCAUS Case Law Citation: ABCAUS 2830 (2019) (03) HC In the instant case, the …
Write off for non moving stores based on technical committee recommendation pursuant to an audit objection raised by the C&AG allowed by High Court ABCAUS Case Law Citation: ABCAUS 2829 (2019) (03) HC Important Case Laws Cited/relied upon by the parties Forest Industries Travancore Ltd. v. Commissioner of …
Order of ITAT not binding on Trial Court in income tax prosecution case. Appeal to stay prosecution during pendency of appeal before ITAT dismissed ABCAUS Case Law Citation: ABCAUS 2828 (2019) (03) AC Important Case Laws Cited/relied upon by the parties Commissioner of Income Tax vs. Bhupen Champak …
No disallowance u/s 43B for unpaid service tax unless actually received. Supreme Court dismisses the SLP of the Income Tax Department ABCAUS Case Law Citation: ABCAUS 2827 (2019) (03) SC Important Case Laws Cited/relied upon by the parties Commissioner of IncomeTax v. Ovira Logistics P. Ltd 377 ITR …
