Category: Supreme Court
In revision proceedings CIT cannot travel beyond the reasons given in the show-cause notice u/s 263 – Supreme Court dismisses SLP of the Department ABCAUS Case Law Citation:ABCAUS 3809 (2023) (09) SC Important Case Laws relied upon by parties:CIT vs. Amitabh Bachchan (384 ITR 200) (2016) In the …
Interest income earned on fixed deposits of Clubs are taxable under Section 2(24) of the Income Tax Act and principle of mutuality does not apply to them – SC ABCAUS Case Law Citation:ABCAUS 3793 (2023) (08) SC Important Case Laws relied upon:Bangalore Club vs. Commissioner of Income Tax, …
Service Tax show cause was illegal as classification of services mentioned was completely erroneous – Supreme Court In a recent judgment the Supreme Court has held a service tax show cause notice illegal as the classification of services mentioned in it was completely erroneous. ABCAUS Case Law Citation:ABCAUS …
Income Tax Act provides complete machinery for assessment/reassessment of tax, assessee is not permitted to abandon that machinery and invoke jurisdiction of High Court under Article 226 ABCAUS Case Law Citation:ABCAUS 3790 (2023) (08) SC Important Case Laws relied upon:Gurinder Mohan Singh Nindrajog v. Commission of Income Tax, …
Before notice to director for recovery u/s 179, Revenue must establish recovery cannot be made from Private Company – SC dismisses SLP ABCAUS Case Law Citation:ABCAUS 3785 (2023) (07) SC Important Case Laws relied upon:Vanraj V. Shah vrs. Dy. Commissioner of Income Tax and anotherUnion of India Vrs. …
Security deposit given for renting a premise could not be treated as revenue expenditure when the deposit if foregone – Supreme Court dismissed SLP. ABCAUS Case Law Citation:ABCAUS 3779 (2023) (07) SC Important Case Laws relied upon:Commissioner of Income Tax vs. Triveni Engg. & Industries Ltd. 343 ITR …
Bitumen not valuable article u/s 69A as it requires ownership in large quantity to treat it valuable – Supreme Court ABCAUS Case Law Citation:ABCAUS 3742 (2023) (05) SC Important Case Laws relied upon:Dhirajlal Haridas v. Commissioner of Income TaxCommissioner of Income Tax v. Amrit lal ChunilalKotak Mahindra Bank …
Mere affidavits of typographical error by typist & CA in Audit Report not enough when assessee was found to maintain duplicate accounts – Supreme Court ABCAUS Case Law Citation:ABCAUS 3735 (2023) (05) SC Important Case Laws relied upon:CST vs. Esufali (HM) Abdulali (HM) (1973) 90 ITR 271 (SC)Nalinakshi …
Section 327(7) of the Companies Act, 2013 not arbitrary / violative of Article 21 of the Constitution of India – Supreme Court ABCAUS Case Law Citation:ABCAUS 3731 (2023) (05) SC Important Case Laws relied upon:Manish Kumar Vs. Union of India and Anr. (2021) 5 SCC 1Swiss Ribbons Private …
Supreme Court publishes list of proposed neutral citation numbers from 01.01.2014 to 31.03.2023 The Supreme Court of India has published a list of proposed neutral citation numbers for the period i.e., 01.01.2014 to 31.03.2023 The announcement for the neutral citation was made last month by the Hon’ble Chief Justice. …