Category: Judgments
TDS Provision not applicable where no claim of expenditure was made by the assessee and assessee suo motu made disallowance u/s 40(a)(ia) of the Income Tax Act  ABCAUS Case Law Citation: ABCAUS 2051 (2017) (08) ITAT Assessment Year :  2008-09 and 2010-11 Brief Facts of the Case: …
Service Tax on foreign tourists operator services held ultra vires the Finance Act insofar as export of tour operator services include non-taxable services provided by tour operators. The High Court refuses to award prospective overruling so that the central government does not have to refund the service tax collected …
Television news software produced was eligible for deduction 80HHE as customized electronic data which is transmitted from India to a place outside India. Â ABCAUS Case Law Citation: ABCAUS 2049 (2017) (08) HC The Grievance: The appellant Revenue was aggrieved by the order of the ITAT in allowing …
Profits from sale of investments by Insurance Company held exempt in view of CBDT Circular. The income so earned was taxable only from AY 2011-12 Â ABCAUS Case Law Citation: ABCAUS 2048 (2017) (08) HC The Substantial Question of Law framed for determination: There were three appeals, one …
Book entry transfer of share application money to capital reserve account could not be regarded as benefit or perquisite arising in course of business u/s.28(iv) – ITAT  Book entry transfer of share application money to capital reserve ABCAUS Case Law Citation: ABCAUS 2047 (2017) (08) ITAT The …
Interest on fixed deposits during construction period held not taxable as FDRs were made out of share application money and not borrowed fund  ABCAUS Case Law Citation: ABCAUS 2046 (2017) (08) ITAT Assessment Year :  2009-10 Important Case Laws Cited/relied upon by the parties: Tuticorin Alkali Chemicals …
Unexplained Cash Credits in Bank Statements held taxable u/s 68. Non Âproduction of  document is different from not maintaining Books of Account – High Court In a recent judgment, Bombay High Court held that unexplained Cash Credits in Bank Statements held taxable u/s 68. ABCAUS Case Law Citation:ABCAUS 2045 (2017) …
Penalty notice issued after completion of assessment proceedings illegal. Where no proceedings relevant to assessment year are pending penalty notice was issued is bad in law – ITAT ABCAUS Case Law Citation: ABCAUS 2043 (2017) (08) ITAT The Grievance: The Revenue has filed an appeal against the Order …
Right to privacy is fundamental right-Supreme Court Constitution Bench judgment.Right to privacy protected as an intrinsic part of the right to life and personal liberty under Article 21 Right to privacy is fundamental right-Supreme Court The nine judges Constitution Bench has unanimously held that the right to privacy is …
Recording AO satisfaction must for exempt income disallowance u/s 14A(2) and Rule 8(D) of the Income Tax Rules, 1962. High Court reverses ITAT judgment ABCAUS Case Law Citation: ABCAUS 2042 (2017) (08) HC Important Case Laws Cited/relied upon by the parties: Godrej and Boyce Mfg. Co. Ltd. v. …
