Category: Judgments

Surplus arising from educational activities after meeting expenses incurred do not disentitle trust from exemption u/s 10(23C)(iiiad)

Surplus arising from educational activities after meeting expenses incurred do not disentitle trust from exemption u/s 10(23C)(iiiad)

March 1, 2017 Income Tax, ITAT, Judgments
Surplus arising from educational activities after meeting the expenses incurred do not disentitle the trust from exemption u/s 10(23C)(iiiad) of the Income Tax Act, 1961. ABCAUS Case Law Citation: ABCAUS 1150 (2017) (03) ITAT The Grievance: The appellant assessee was aggrieved by the order of the CIT(A) denying …
Private company director held liable for tax defaults u/s 179 of Income-tax if in true sense company not acted as public limited company

Private company director held liable for tax defaults u/s 179 of Income-tax if in true sense company not acted as public limited company

February 28, 2017 High Courts, Income Tax, Judgments
Private company director held liable for tax defaults by lifting corporate veil us 179 of Income-tax if in true sense company not acted as public limited company ABCAUS Case Law Citation: ABCAUS 1149 (2017) (02) HC The Grievance: The petitioner, had challenged the legality, validity and propriety of …
Misconduct by CA who surrendered COP-Supreme Court dismisses ICAI appeal. Practicing CA holding COP would be liable for punishment if misconduct is proved

Misconduct by CA who surrendered COP-Supreme Court dismisses ICAI appeal. Practicing CA holding COP would be liable for punishment if misconduct is proved

February 28, 2017 CA CS CMA, Judgments, Supreme Court
Misconduct by CA who surrendered COP-Supreme Court dismisses ICAI appeal. Practicing CA holding COP would be liable for punishment if misconduct is proved. ABCAUS Case Law Citation: ABCAUS 1147 (2017) (02) SC Brief Facts of the Case: The Hon’ble Madhya Pradesh High Court in 2007 had held that …

CMA-Writ against 3 years exemption withdrawal in cost accountancy exam dismissed. Amendment to ICMAI Regulation 41(2) not retrospective-High Court

February 27, 2017 CA CS CMA, High Courts, Judgments
CMA-Writ against 3 years exemption withdrawal in cost accountancy exam dismissed. Amendment to ICMAI Regulation 41(2) not retrospective-High Court ABCAUS Case Law Citation: ABCAUS 1146 (2017) (02) HC Important Case Laws Cited/relied upon: All India Council for Technical Education vs. Surinder Kumar Dhawan & Ors. (2009) 11 SCC 726 …
Advance tax not payable-Income declared after financial year closure. ITAT deleted interest u/s 234B and 234C on income declared in survey

Advance tax not payable-Income declared after financial year closure. ITAT deleted interest u/s 234B and 234C on income declared in survey

February 27, 2017 High Courts, Income Tax, Judgments
Advance tax not payable-Income declared after financial year closure. ITAT deleted interest u/s 234B and 234C on income declared in survey ABCAUS Case Law Citation: ABCAUS 1145 (2017) (02) ITAT The Ground of Appeal: The only ground that survived for consideration was as under: That CIT(A) erred in …
Rule 8D not applicable to shares held as stock in trade. Calcutta High Court upheld ITAT judgment deleting disallowance made us 14A for interest expenditure

Rule 8D not applicable to shares held as stock in trade. Calcutta High Court upheld ITAT judgment deleting disallowance made us 14A for interest expenditure

February 27, 2017 High Courts, Income Tax, Judgments
Rule 8D not applicable to shares held as stock in trade. Calcutta High Court upheld ITAT judgment deleting disallowance made us 14A for interest expenditure ABCAUS Case Law Citation: ABCAUS 1144 (2017) (02) HC Date/Month of Pronouncement: February, 2017 Important Case Laws Cited/relied upon: Dhanuka & Sons vs. …
Jurisdiction can not be conferred even by consent of parties. No principle of law can not confer legality to such income tax proceedings-Allahabad HC

Jurisdiction can not be conferred even by consent of parties. No principle of law can not confer legality to such income tax proceedings-Allahabad HC

February 26, 2017 High Courts, Income Tax, Judgments
Jurisdiction cannot be conferred even by consent of parties. Acquiescence or any principle of law can not confer legality to such income tax proceedings-Allahabad High Court ABCAUS Case Law Citation: ABCAUS 1143 (2017) (02) HC Brief Facts of the Case: In the present case, the order of assessment …
Unreasonable penalty shakes confidence reduces voluntary compliance by the taxpayers. Revenue officials should be careful and reasonable in levying penalty- ITAT

Unreasonable penalty shakes confidence reduces voluntary compliance by the taxpayers. Revenue officials should be careful and reasonable in levying penalty- ITAT

February 25, 2017 Income Tax, ITAT, Judgments
Unreasonable penalty shakes confidence reduces voluntary compliance by the taxpayers. Revenue officials should be careful and reasonable in levying penalty- ITAT ABCAUS Case Law Citation: ABCAUS 1142 (2017) (02) ITAT The Grievance: The present appeal was filed by the assessee against the order of CIT(Appeals) sustaining the penalty …
Assessment on the basis of AIR without notice u/s 143(2) void ab initio without jurisdiction and liable to be quashed, as no notice issued – ITAT

Assessment on the basis of AIR without notice u/s 143(2) void ab initio without jurisdiction and liable to be quashed, as no notice issued – ITAT

February 25, 2017 Income Tax, ITAT, Judgments
Assessment on the basis of AIR without notice us 143(2) void ab initio without jurisdiction and liable to be quashed, as no notice issued – ITAT ABCAUS Case Law Citation: ABCAUS 1141 (2017) (02) ITAT Assessment Year : 2006-07 Date/Month of Pronouncement: February, 2017 Brief Facts of the …