Category: Judgments

Where High Court accepted substantial question of law u/s 260A, against the quantum appeal, itself shows that issue was debatable and in such a case no penalty was imposable u/s 271(1)(c)  In a recent judgment, ITAT Delhi has stated that where High Court accepted substantial question of law u/s …

In a recent judgment, ITAT Delhi has set aside penalty u/s 271(1)(c) and remanded the matter to CIT(A) for mistake of assessee not disclosing Long Term Capital Gain LTCG on the land comprised in the block of Factory Building sold. Case Law Details: ITA No. 5939/Del./2013 : Asstt. Year : 2009-10 …

ITAT Lucknow in a recent judgment has held that section 69 of the Income Tax Act, 1961 provides that the assessee must have incurred any expenditure and the additions can not be made by the Assessing Officer by just estimated the expenditure. Case Law Details: ITA Nos.35,36 & 37/Lkw/2016 Assessment years: 2004-05, …

In a recent judgment, Supreme Court has upheld that special audit u/s 142(2A) was an integral step towards assessment proceedings and hence High Court was right in holding that period for which special audit was stayed shall be excluded in counting limitation for concluding block assessment u/s 158BE. Case Law …

The Supreme Court in its recent judgment has held that tips collected by the hotel from customers and distributed to employees are not salary for the purpose of TDS under Section 192. Case Law Details: Civil Appeal Nos. 4435-37 of 2016 ITC Limited Gurgaon (Appellant) versus Commissioner of IT (TDS) Delhi (Respondent) …

In its  latest judgment , Delhi High Court has held that deduction under Section 80-O of the Income tax Act, 1961 computed applying average profit margin for domestic income and not considering fixed costs was a distorted apportionment of net profit. Case Law Details: ITA 264/2002 ITA 415/2004 M/s Continental Carriers …… …

Today, the Hon’ble High Court of Uttarakhand made its landmark judgment online that quashed the Presidential Rule in Uttarakhand which was imposed under Article 356 of the Constitution of India. The petitioner had alleged that the ruling BJP at the Centre, in pursuit of its objective to overthrow the …

In a recent judgment, ITAT Chennai has held that a statement recorded u/s 133A can not be retracted saying survey team had exerted force on the assessee when he issued a cheque by properly preparing, signing it for the amount surrendered. Case Law Details: I.T.A.No.1429/Mds./2015 Assessment Year :2007-08 …

In a recent judgment, ITAT Chennai has held that paucity of funds due to project expansion was a sufficient case not to levy penalty u/s 221(1) for non payment of self assessment tax before filing return of income.  Case Law Details: ITA No. 611/Mds/2014  Assessment Year : 2010-11 M/s. …

In a recent judgment, ITAT Chennai has stated that consent/acceptance given by assessee could not give jurisdiction and a right to the assessing authority to make an addition. The taxing authority can act only if there is power under the statute to do so. It further held that if the liabilities …