Category: Supreme Court

Notice u/s 148 invalid as reasons recorded incorrect information that return was processed u/s 143(1) and no scrutiny assessment was done under Section 143(3) of the Act. In a recent judgment, Hon’ble Supreme Court has dismissed a SLP of the Revenue against the judgment of the Gujarat High …

Incorrect claim or erroneous claim not willful evasion, in certain circumstances can be erroneous interpretation of law.  In a recent judgment/order Hon’ble Supreme Court dismissed the SLP of the Revenue against the order of Karnataka High Court quashing proceedings u/s 276C of the Income Tax Act, 1961 holding …

Reopening u/s 148 was rightly done as income of the company was shifted to partnership firm to avoid tax by setting off bad debts – SLP dismissed by Supreme Court In a recent order/judgment, Hon’ble Supreme Court has dismissed the SLP filed by the assessee company against the …

Excise classification of coconut Oil in small packings. Pure coconut oil sold in small quantities as edible oil classifiable under Heading 1513 – Supreme Court In a recent judgment, a full bench of Hon’ble Supreme Court has held that generally pure coconut oil sold in small quantities as …

Addition u/s 68 on account of cheque received from director of the company on the last day of the financial year which was reversed on 1st day of next financial year – SLP dismissed In a recent order Hon’ble Supreme Court has dismissed the SLP of the assessee …

Violation of conditions u/s 13(1)(c) & denial of exemption – Supreme Court directs High Court to admit appeal In a recent judgment, Hon’ble Supreme Court has directed Hon’ble Bombay High Court to admit appeal on the substantial question of law as to whether violation of conditions under Section …

Quashing of Notice u/s 148 as AO did not apply mind to information received – SC dismissed Special Leave Petition (SLP) of Income Tax Department   In a recent judgment, Hon’ble Supreme Court has upheld the quashing of notice u/s 148 by the Bombay High Court where the …

Chartered Accountants guilty of misconduct on bringing disrepute to the profession whether or not related to his professional work – Delhi High Court confirms penalty in set aside proceedings In 2018 Supreme Court had over ruled the judgment of Delhi High Court and held that a Chartered Accountants …

Highest bidder has no vested right to have tender awarded in his favour – Supreme Court In a recent judgment, the Hon’ble Supreme Court has held that it is a settled law that the highest bidder has no vested right to have the tender allotted in his favour. …

Notice u/s 148 quashed as passed without application of mind for quoting wrong section while seeking approval for reopening u/s 151 of the Act – SLP dismissed  In a recent judgment, Hon’ble Supreme Court has upheld the judgment of Bombay High Court quashing the order quashing order passed …