Category: Judgments
Case remitted to verify claim of RTO liaisoner that the cash deposited in his account was of vehicle owners and not his income In a recent judgment, ITAT Bangalore has remitted the case of a RTO liaisoner/middleman to verify if the cash deposited in his bank account were …
Broken period interest paid on purchase of securities was revenue expenditure since the securities constituted stock-in-trade In a recent judgment, Hon’ble Supreme Court has dismissed the SLP against the judgment of Telangana High Court in holding that broken period interest paid on purchase of securities was revenue expenditure …
ITAT quashed reassessment on the basis of borrowed belief of Anti-Corruption Bureau without applying mind In a recent judgment, ITAT Ahmedabad has quashed reopening order as the Assessing Officer had reopened the case on the basis of borrowed belief of Anti-Corruption Bureau without applying his mind to the …
In considering disallowance u/s 40A(2) for payments to specified persons, genuineness of expenditure is not a relevant issue. In a recent judgment, ITAT Lucknow has held that when a disallowance u/s 40A(2) of towards payments made to specified persons is under consideration, the genuineness of the expenditure is …
Expression “Yes I am satisfied” in approval u/s 151 not such a vital defect on the basis of which, re-opening could be quashed In a recent judgment, ITAT Chandigarh has held that expression “Yes I am satisfied” while granted approval under section 151 not such a vital defect …
Section 143(1) Intimation is only an intimation and it cannot be treated as an order for the purpose of Section 264 of Income Tax Act. In a recent judgment Hon’ble Kerala High Court has held that Section 143(1) Intimation is only an intimation and it cannot be treated …
Order u/s 127 quashed as PCIT having jurisdiction over non corporate assesee could not have transferred case of a corporate assessee to another AO In a recent judgment ITAT has quashed assessment as PCIT having jurisdiction over non corporate assesee could not have assumes jurisdiction to transfer a …
No obligation to deduct tax at source u/s 195 on the commission paid to non-resident foreign commission agent not liable to pay tax in India – ITAT In a recent case, ITAT Agra has held that there was no obligation for the assessee to deduct tax at source …
Deduction u/s 80P denied as assessee did not file return u/s 139(1) but beyond the due date only in response to notice u/s 148 In a recent judgment, Hon’ble Karnataka High Court has upheld denial of deduction under section 80P as by no stretch of imagination a return …
High Court denied pre-arrest bail to accused of fake ITC utilisation on possibility of misusing the concession of pre arrest bail In a recent judgment, High Court of Punjab & Haryana denied pre-arrest bail to accused of fake ITC utilisation observing that there was possibility of petitioner’s misusing …
