Category: Supreme Court
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. …
Loss incurred for any purpose which is an offence or which is prohibited by law is not deductible irrespective of legality or illegality of the business – Supreme Court ABCAUS Case Law Citation:ABCAUS 3717 (2023) (04) SC Important Case Laws relied upon:CIT vs. Piara Singh 124 ITR 41Haji …
No additions can be made u/s 153A for completed/unabated assessments in absence of any incriminating material found during search u/s 132 – Supreme Court settles the controversy by affirming the law laid down by Delhi High Court in Kabul Chawla ABCAUS Case Law Citation:ABCAUS 3716 (2023) (04) SC …
Next Examination for the Supreme Court Advocates-on-Record will be held at New Delhi on 12th, 13th, 14th and 15th June, 2023 Supreme Court has notified the next Examination for the Advocates-on-Record to be held at New Delhi on 12th, 13th, 14th and 15th June, 2023. All the advocates …