Category: Judgments
Receipt of immovable property from relative is not taxable u/s 56(2)(x) and cannot be brought o tax u/s 68 for difference in stamp duty valuation and value declared in gift deeds. In a recent judgment, ITAT Chennai has held that receipt of immovable property from a ‘relative’ is …
Rejecting condonation of delay and dismissing appeal without verifying medical certificates – ITAT sets aside order of CIT(A) In a recent judgment, ITAT Lucknow set aside the order of the CIT(A) as he rejected the assessee’s request for condonation of delay without conducting any independent inquiry regarding the …
Common Area Maintenance (CAM) Charges cannot, by any stretch, be construed as payment of rent liable to TDS under section 194-I – Supreme Court dismissed SLP. In a recent judgment, Hon’ble Supreme Court has dismissed SLP of the Income Tax Department against the judgment of the High Court …
SC upheld that merely producing audit objection in order u/s 148A(d) ignoring reply of assessee is non application of mind In a recent judgment, the Hon’ble Supreme Court upheld the judgment of Gujarat High Court in holding that merely producing of audit objection in the order under Section …
In an insurance claim if it is established that damage was caused by fire, then reasons by which the fire took place becomes irrelevant. In a recent judgment, Hon’ble Supreme Court has held that in an insurance claim if damage is caused by fire, then the reason by …
Assessee cannot be granted immunity from prosecution u/s 276B for late deposit of TDS merely because ultimately TDS was deposited belatedly – Delhi High Court In a recent judgment, Hon’ble Delhi High Court has held that an assessee cannot be granted immunity from prosecution under section 276B for …
Section 44C applies to exclusive expenditure on head office for the Indian branches incurred by non resident assessee’s. In a recent judgment, Hon’ble Supreme Court has held that Section 44C of Income Tax Act is not limited to mere common expenditure incurred by the head office attributable to …
Compensation under motor vehicle Act to parents of child died attract a less multiplier than from that of a claim filed by a disabled child. In a recent judgment, Hon’ble Supreme Court has held that compensation under motor vehicle Act by parents of child died would definitely attract …
High Court sets aside demand notices in respect of a period, for which the assessee had discharged tax liability under SVLDRS In a recent judgment, Hon’ble Bombay High Court has held that the demand of service tax interest and penalty in respect of a period, for which the …
Addition u/s 68 can not be made applicable where there is no fresh receipt of unsecured loans at all during the year – ITAT In a recent judgment, Agra ITAT has held that addition u/s 68 of the Act could be made applicable where there is no fresh …
