Delhi HC ruled reassessment under Section 147 is not valid post-closure of Section 143 proceedings if income underassessment results from AO error, not assessee fault.
Supreme Court clears HDFC Bank officials of liability for allowing locker operation, quashes FIR due to lack of fraudulent intent and mens rea.
Supreme Court rules ITAT cannot direct AO to consider new claims barred by time, reaffirming ITAT’s plenary powers under Section 254 of the Income Tax Act.
Calcutta HC ruled that isolated private loans do not require a license under the West Bengal Money Lenders Act, 1940. Case decreed for repayment with interest.
Simply writing I am satisfied in the approval u/s 151 of Income-tax Act,1961 is sufficient to show that Sanctioning authority applied its mind while approving reassessment proceedings u /s 148 of Income-tax Act,1961
Supreme Court examines writ jurisdiction under Article 226, emphasizing disclosure of facts and timely filing in HMT Ltd. vs Smt. Rukmini land acquisition case.
Bombay HC rules that only Faceless Assessing Officers can issue Sec 148 notices, quashing those issued by Jurisdictional Assessing Officers.
Procedural lapses, such as incorrect pre-deposit payments, can be rectified by refiling the appeal with the correct deposit, ensuring that justice is served on merits rather than dismissed on technical grounds.
Karnataka HC rules on service tax liability for Rajiv Gandhi University. Affiliation fees exempt; rental income for banks/canteens taxable. Full judgment analysis here.
Supreme Court’s verdict on whether a company’s purchase of a car for a director’s personal use falls under ‘commercial purpose’ as per the Consumer Protection Act.
