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Latest Income Tax/Corporate Law Judgments, Case laws of Supreme Court, High Court ITAT

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ABCAUS Excel for Chartered Accountants

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Deduction u/s 40(a)(iii) for salaries paid to expatriate employees overseas where tax was paid as per CBDT Circular 685/686-1994 allowable-Delhi HC
ITAT Power to grant Stay beyond 365 days u/s 254(2A) Delhi High Court Judgment-Do non-jurisdictional ITAT bound to follow decision or it is only persuasive
No additions on the basis of computer file seized during search u/s 132 containing cash flow sales projections not actual sales-Delhi High Court
Section 12AA deemed registration for Non disposal of application in 6 months. Supreme Court upheld Allahabad HC judgment in Society for Promn of Education
Re-opening assessment u/s 147 148 invalid if notes schedules to the accounts discloses all required particulars/information-Delhi High Court
Income earned by company incorporated under Sikkim Companies Act in India Prior to 01-04-1989 is also covered under Income Tax Act 1961-Delhi High Court
Assessing Officer not competent to pass draft assessment order u/s 144C(1), assessee being not eligible u/s 144C(15)(b)-Delhi High Court
Non-payment of pension constitutes a continuing wrong and delay, laches or limitation will not thwart the claim-Allahabad High Court
If Drivers with LMV licence required to obtain prior endorsement to drive transport vehicles. The question referred to larger bench of Supreme Court
A writ petition under Article 226 of the Constitution can be filed by a power of attorney holder subject to due observance of safeguards-Allahabad High Court
Revision u/s 263 barred if some enquiry was made by Assessing Officer. Settled law is that commissioner can exercise jurisdiction only in no enquiry cases-Allahabad HC
Eldest Female member can also be karta of Hindu Undivided Family (HUF) after Hindu Succession (Amendment) Act, 2005 -Delhi High Court
Unless possession handed over to buyer after registration with RTO, motor vehicle remains unascertained/future goods for sales tax purposes-Supreme Court
Delhi High Court refuses to interfere with Odd Even Car Scheme of Kejriwal Delhi Government which is to continue till 15-01-2016. Download Full Judgment
Settlement commission lacks power to direct special audit u/s 142(2A) in the course of settlement proceedings under Chapter XIX-A of Income Tax Act, 1961
Once initial onus u/s 68 is discharged, expecting assessee produce parties physically before AO unreasonable. He can use his powers if any doubt-Delhi HC
Simultaneous deductions under Section 80HHC and 80-IA/80IB Question of allowability referred to Supreme Court larger bench
If house purchased from common funds of joint-owners, individual shares not specified then housing loan Interest u/s 24b is allowed in equal percentage-Punjab & Haryana High Court
Where appellant did not challenge CIT(A) order before ITAT, in remand proceedings on Revenue’s appeal, legality of notice u/s 153C can not be considered-Allahabad High Court
UP Dying-in-Harness Rules 1974 to include even married daughters for compensatory appointment. Exclusion struck down as illegal by Allahabad High Court
Supreme Court-RBI and Financial Institutions/Banks do not share Fiduciary Relationship and RBI under RTI Act must provide information related to them
Supreme Court lays down broad factors/guidelines for finalizing existing Collegium Memorandum of Procedure by Govt in consultation with Chief Justice
Satisfaction Recording u/s 153C must even if AO of Person Searched and assessee same. Belongs to is different from the expression relates to-Delhi HC
No Additions u/s 68 for mere fact that some investors of Share Application Money have a common address to doubt their identity/genuineness-Delhi HC
In the absence of human intervention Mobile Call Roaming facility would not amount to technical services u/s 194J-Punjab and Haryana High Court
Supreme Court-Compact disc CD also document as per the definition of document in Evidence Act. Courts have erred in law in rejecting the CD in question
Delhi HC Rejects Retraction from Statement Recorded u/s 132(4) missing in file but not challenged in assessment not supported by affidavit under ITAT Rules
SC-Interest/Compensation received by banks for default in payment of Bill of Exchange purchased/discounted does not come within the purview of the Interest Tax Act 1974
Bank Cash Credit/Overdraft Account of the assessee can not be attached by Income Tax Authorities u/s 226(3)-Calcutta High Court
Delhi HC-Assessment Proceedings u/s 153C can not be commenced merely on the basis of Computer Hard Disk, Working Papers Seized from Chartered Accountant
CA Firms De-merger done by 75% or more partners of any of the erstwhile firms valid. Demerger can also be from a date prior to or after the date of notice
Punjab and Haryana HC-If assessee not complied with notices issued u/s 142(1), assessment u/s 143(3) valid, it could have also been done u/s 144 Income Tax Act 1961
Supreme Court Strikes down 99th Constitutional Amendment and National Judicial Appointments Commission Act 2014 as Unconstitutional, Restores Collegium System
SC allows four more Schemes that may use AADHAAR Card but reiterates that Aadhaar Card Scheme is purely voluntary and cannot be made mandatory
Delhi HC-Reopening Assessment u/s 147 148 on the basis of information received from Investigation Wing on matters already examined in regular assessment completed
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