Category: Judgments
Disallowance u/s 40A(3) for Cash Payments out of Business expediency deleted by ITAT following Supreme Court judgment ABCAUS Case Law CitationABCAUS 3629 (2023) (01) Important Case Laws relied upon:Attar Singh Gurumukh Singh vs. ITO Ludhiana 1991 AIR 2109 (SC) In the instant case, the assessee had challenged the …
High Court jails Deputy Commissioner of Income Tax in contempt case to send down a correct signal to Income Tax Department ABCAUS Case Law Citation ABCAUS 3628 (2023) (01) HC Important Case Laws relied upon:Sebastian M. Hongray Vs. Union of India; (1984) 3 SCC 82.T.N. Godavarman Thirumulpad (102) …
IT support services do not satisfy make available test under India-UK DTAA ABCAUS Case Law CitationABCAUS 3627 (2022) (12) ITAT Important Case Laws relied upon:CIT Vs. Guy Carpenter & Co. Ltd 254 CTR 243H.J. Heinz CompanyDe Beers India Minerals Limited 346 ITR 467Mitsubishi Electric India Ltd ITA No. …
For typographical error assessee has to invoke Section 154 not Appellate Jurisdiction to rectify mistakes committed during assessment proceedings – ITAT ABCAUS Case Law CitationABCAUS 3626 (2022) (12) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in sustaining the additions. The …
Relinquishing ESOP right accrued are taxable as capital gains not profits in lieu of salary u/s 17(3)(iii) – ITAT ABCAUS Case Law Citation ABCAUS 3625 (2022) (12) ITAT Important Case Laws relied upon:CIT vs. Sarangpur Cotton Manufacturing Co. Ltd., 6 ITR 36CIT vs. A. Krishnaswami Mudaliar & Ors. …
Assessee’s time cannot be taken for granted by Income Tax Department. Assessee can not be made to appear before the tax authorities again and again ABCAUS Case Law Citation ABCAUS 3624 (2022) (12) ITAT Important Case Laws relied upon:Alkaben B. Patel vs. ITO43 Taxmann.com 333 (Ahm)Sujatha Ramesh vs. …
Investor companies having low income and assets in the form of investments have been created through rotation of money in between the group companies not enough ground to prove that any unaccounted money of the assessee has been introduced in the assessee company warranting addition under section 68 …
Issues already considered by CIT(A) in his order, cannot be again a subject matter of revision by Pr CIT u/s 263 ABCAUS Case Law Citation ABCAUS 3622 (2022) (12) ITAT Important Case Laws relied upon:Southern Motors vs State of Karnataka (2017) 3 SCC 467 (SC) In the instant …
Whether AO applied his mind or not is question of fact not law – SC dismisses SLP of Department challenging setting aside of revisionary order passed u/s 263 of the Income Tax Act 1961 ABCAUS Case Law CitationABCAUS 3621 (2022) (11) SC In the instant case, the Income …
No Prohibition in law on travelling abroad if proceedings u/s 10 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 have been initiated ABCAUS Case Law CitationABCAUS 3620 (2022) (11) AC Important Case Laws relied upon:Parvez Noordin LokhandwalaSatwant Singh Sawhney vs. D. …