Supreme Court

  • Income Tax

Depreciation on revalued cost of assets after conversion of firm into company upheld

Claiming depreciation on revalued cost of assets after conversion of partnership firm into company Supreme Court dismissed Special Leave Petition…

4 days ago
  • ICAI

ICAI competent to impose restriction on number of tax audits per year by CAs – Supreme Court

ICAI competent to impose restriction on number of tax audits u/s 44AB per year  - Supreme Court settles the pending…

1 month ago
  • Income Tax

No enduring benefit arises if software project abandoned – Supreme Court dismisses SLP

No enduring benefit arises when software project was abandoned due to change in technology. Supreme Court dismisses SLP of Department…

2 months ago
  • VAT

Trade Tax refund withheld beyond stipulated period & adjusted from demand unjustified – SC

Trade Tax Department was unjustified in retaining refund beyond stipulated period and adjusting it against default notices issued subsequently. In…

3 months ago
  • Income Tax

Education Cess cannot be allowed as an expenditure in view of later amendment – SC

Education Cess cannot be allowed as an expenditure in view of the subsequent amendments in the Income Tax Act, 1961…

3 months ago
  • bankruptcy

Special Court presided by a Sessions /Addl. Sessions Judge have jurisdiction under IBC 2016

Special Court presided by a Sessions Judge or an Additional Sessions Judge will have jurisdiction to try the complaint under…

3 months ago
  • Income Tax

Disallowance u/s 40A(3) for bearer cheque Payments. CBDT 1977 Circular not applicable

Disallowance u/s 40A(3) for bearer cheque Payments. CBDT 1977 Circular relied upon by assessee does not exits with amendment to…

4 months ago
  • arbitration

Reference in 2nd contract to 1st contract, not make arbitration clause ipso facto applicable – SC

Reference in second contract to first contract, would not make arbitration clause ipso facto be applicable to second contract -…

4 months ago
  • Income Tax

Retracting from income offered during survey for no cross examination at assessment – upheld

Retracting from income offered during survey and challenging non opportunity of cross examination at assessment stage - upheld In a…

4 months ago
  • Income Tax

Allegation of Paper Companies without further facts insufficient to reopen-SLP Dismissed

Allegation of  Paper Companies without further facts insufficient to reopen assessments - SLP dismissed by Supreme Court. High Court laid…

5 months ago