Category: Judgments

Gift received from Step Father not taxable us 56(2)(vi) as income from other sources in view of meaning of relatives as per Explanation to section 56(2)

Gift received from Step Father not taxable us 562vi as income from other sources. The Explanation to section 56(2) would indicate that the expression “relatives” would recognize the relationship between the step-father and step-son for the purpose of exemption available under section 56(2) of the Income Tax Act, 1961. …

ICAI coaching income exempt us 11. The institute is an educational institute and its activities falls within the meaning of charitable purpose u/s 2(15)-ITAT

ICAI income exempt us 11. The institute is an educational institute and its coaching activities falls within the meaning of charitable purpose u/s 2(15). In a yet another case for AY 2010-11, ITAT following previous judgments of ITAT, High Court and Supreme Court has upheld the charitable status …

Rented Building Renovation-Repair Expenses are Current Repairs allowable u/s 30. Accumulated repairs not allowed only when assessee owns building-ITAT

Rented Building Renovation-Repair Expenses are Current Repairs allowable u/s 30. Accumulated repairs not allowed only when assessee owns building, as a tenant cost of repairs to the premises is allowable whether they are accumulated or current this was held by ITAT Delhi in a recent judgment detailed as …

Service tax Department can not audit under rule 5A2-Delhi HC quashes/Strikes down Rule 5A2 and Notification 23/2014 Circular 181/7/2014 Ultra Vires to FA

Service tax Department can not audit under rule 5A(2)-Delhi High Court quashes/Strikes down Rule 5A2 and Notification 23/2014 Circular 181/7/2014 Ultra Vires to Finance Act. Case Law Details: W.P.(C) 5192/2015 & CM No. 9417/2015 Mega Cabs Pvt. Ltd (Petitioner) vs. UOI and Ors (Respondents) Date of Judgment: 03/06/2016 …

Consent of assessee cannot give AO right to make additions. the consent of the assesse/authorised representative cannot be a reason to sustain the addition.

Consent of assessee cannot give AO right to make additions. the consent of the assesse/authorised representative cannot be a reason to sustain the addition. This was upheld by ITAT Chennai in a recent judgment as under: Case Details: ITA Nos. 300 to 303/Mds/2016 Assessment Years : 2010-11 to 2013-14 M/s. …

Penalty us 271C-Contumacious conduct of assessee necessary to be established before penalty for failure to deduct tax (TDS) can be imposed-Supreme Court

Penalty us 271C-Contumacious conduct of assessee necessary to be established before penalty for failure to deduct tax at source (TDS) can be imposed-Supreme Court Case Details: Civil Appeal No. 1704 of 2008 Commr. of Income Tax Delhi (Appellant)  vs. Bank of Nova Scotia (Respondent) Date of Judgment: 07/01/2016 Coram: …