Category: Judgments
Reopening us 147 based on merely tax evasion petition itself bad in law as the AO had not satisfied himself before initiating the proceedings that income of the assessee has escaped assessment. ITAT Delhi Case Details: ITA No.1894/Del./2012 Assessment Year : 2002-03 Ashok Arora vs. ITO Date of Order/Judgment: …
Penalty 2711c Immunity Explanation5A for Belated Return u/s 139(4). Immunity available to assessee who has filed belated return of income u/s 139(4)-held by ITAT Ahmedabad. Case Law Details: IT(SS)A.No.24/RJT/2013 Hitesh Mulchand Doshi (Appellant) vs. ACIT (Respondent) Date of Order/Judgment: 16/05/2016 Important Judgments Cited: ITO Vs. Gope M. Rochlani, …
Reopening us 147 148 invalid if assessee replied questionnaire raising specific queries during original assessment as it would amount to change of opinion-Delhi High Court. Case Law Details: WP(C) 2526/2015 Allied Strips Limited (Petitioner) vs. Assistant Commissioner of Income Tax (Respondent) Date of Judgment: 12/05/2016 Coram: Justice Sanjeev …
CBDT Instruction No 1-2015 held illegal and quashed by Delhi High Court It further directed that the said instruction shall not be relied upon to deny refunds to the Assessees in whose cases notices might have been issued under Section 143(2) of the Income Tax Act, 1961. Case Law Details: …
PE under Indo-US DTAA-Adobe India not PE of Adobe Systems USA as agent must have authority to conclude contracts on behalf of the enterprise-Delhi High Court Case Details: WP(C) 2384, 2385, 2390 of 2013 Adobe Systems Incorporated (Petitioner) vs. Assistant Director of Income Tax & Anr (Respondents) Date of …
Income Tax Website Legal Corner. Questions of Law admitted or dismissed. by Bombay High Court to be displayed sectionwise. Case Law Details: ITA No. 2287 OF 2013 The Commissioner of Income Tax8 (Appellant) vs. M/s. TCL India Holdings Pvt. Ltd (Respondent) Date of Judgment: 06-05-2016 Coram: Justice M. S. Sanklecha and Justice A. K. Menon The question: This appeal was filed by the Revenue raises questions with regard to …
FMV-No approach road and weaker sections society in colony. DVO directed to give 30% adjustments in calculating fair market value for disadvantages-ITAT Hyderabad Case Law Details: ITA.No.1782/Hyd/2011 Assessment Year 2008-2009 Smt. M. Nagarathnamma Madanapalle vs. Income Tax Officer date of Judgment/Order: 13/05/2016 Brief Facts of the Case: During …
Deemed consideration us 50C eligible for 54F exemption for capital gain purpose. Net consideration include Fair market value under deeming fiction. This was held by ITAT hyderabad in a recent judgment as under: Case Law Details: ITA.No.848/Hyd/2015 Assessment Year 2010-2011 Income Tax Officer (Appellant) vs. Kondal Reddy Mandal Reddy …
DVO Reference us 50C2 must when assessee requested. It was wrong to say that since stamp value was not challenged there was no such need. This was held in a recent judgment by ITAT Hyderabad. Case Law Details: ITA.No.708/Hyd/2014 Assessment Year 2008-2009 T. Vijayasaradhi vs. Addl. CIT Date of …
Bedridden person can have agriculture income, advance loan. Summarily Rejecting creditworthiness despite pattadar passbook without verification wrong-ITAT. This was held by ITAT Hyderabad in a recent judgment as under: Case Law Details: ITA No. 1535/Hyd/2014 (Assessment year: 2009-10) Chenna Reddy Sesha Reddy (Appellant) vs. Income Tax Officer (Respondent) Date …
