Category: Judgments
Tax component of tax free salary is taxable as salary not income from other sources under section 195A which provides for grossing up-High Court Recently Hon’ble High Court has held that tax component on tax free salary paid by the employer is part of salary and not assesseble …
Registration of trust us 12A not involve enquiry into actual activities or application of funds, etc. which may be examined at the stage of assessment. High Court ABCAUS Case Law Citation: ABCAUS 2149 (2017) (12) HC The Challenge/Grievance: This income tax appeal was filed under Section 260-A of …
Section 124(6) of the Companies Act, 2013 does not result in a statutory vesting of shares, it merely transfers shares to IEPF which then holds them as a custodian-High Court ABCAUS Case Law Citation: ABCAUS 2148 (2017) (12) HC Section 124 of the Companies Act, 2013 contains the …
Deadline for linking Aadhaar with bank and mobile extended to 31-03-2017. Supreme Court directs extension for both Union Government and State Schemes. Case Law Citation: ABCAUS 2147 (2017) (11) SC The primary submission of the petitioners was that in terms of the interim order of the Constitution Bench: …
Order passed by AO before expiry of the date of hearing fixed was in violation of the principles of natural justice and cannot stand to the test of law-High Court ABCAUS Case Law Citation: ABCAUS 2146 (2017) (12) HC The Challenge/Grievance: The petitioner was aggrieved by the impugned …
Rejection of account books for not producing vouchers quashed. The High Court held that mere absence thereof did not give rise to presumption that there was any non-disclosure when no evidence existed to doubt the correctness or completeness of the books of account. ABCAUS Case Law Citation: ABCAUS 2145 …
Deemed dividend provisions not attracted in absence of actual payment. Payment u/s 2(22)(e) has to be physical-actual and not mere book entry-High Court ABCAUS Case Law Citation: ABCAUS 2144 (2017) (12) HC The Challenge/Grievance: The instant appeal was filed by the Income Tax Department (the Revenue/Department) This under …
Exemption u/s 80IB ineligible if undertaking do not remain SSI in a particular assessment year even if in initial year eligibility was satisfied.-Supreme Court ABCAUS Case Law Citation: ABCAUS 2143 (2017) (12) SC The Challenge/Grievance: The instant appeal was filed by the Income Tax Department (the Revenue/Department) against …
Mere not recording of transactions not make them undisclosed if entries are otherwise verifiable from other primary books. High Court upheld ITAT judgment ABCAUS Case Law Citation: ABCAUS 2142 (2017) (12) HC The Challenge/Grievance: The instant appeal was filed by the Income Tax Department (the Revenue/Department) against the …
Jewellery held belonging to 3 wives though purchase bills found in search were in assessee’s name. HC uphelds deletion of undisclosed income u/s 158B(b) ABCAUS Case Law Citation: ABCAUS 2141 (2017) (12) HC The Challenge/Grievance: The instant appeal was filed by the Income Tax Department (the Revenue/Department) against …
