India Yamaha Motor Private Limited Vs PCIT (Delhi High Court) Writ of India Yamaha Motor (P) Ltd., Hon’ble Delhi High Court has admitted the Writ and has stayed the operation of letter of direction and order for special audit u/s 142(2A) of the Income Tax Act, 1961, as the same were issued in violation of […]
Korukonda Chalapathi Rao & Anr. Vs Korukonda Annapurna Sampath Kumar (Supreme Court of India) In the facts of this case, the contention of the appellants is that the Kharurunama dated 04.1986 merely sets out the arrangement arrived at between the brothers which is the family arrangement and it was a mere record of the past transaction and […]
DCIT Vs Singhania Buildcon Pvt. Ltd. (ITAT Raipur) 1. AO has not made any attempt to rebut the claim of the assessee. The confirmations were filed by the assessee to support the factual position. The assessee has placed the facts which are apparent in nature for which no rebuttal has been done. 2. The Hon’ble […]
On the basis of incriminating material found, once reassessment proceedings was initiated on the basis of incriminating material found in the search of 3rd party then the provisions of section 153C of the I.T. Act were applicable which exclude the application of section 147 and 148 of the I.T. Act and notice u/s. 148 of the Act and proceeding u/s. 147 are illegal and void ab initio
Director of Income Tax Vs Mitsubishi Corporation (Supreme Court of India) 1. In the judgment delivered by the Supreme court today on chargeability of interest u/s 234B it is held that prior to the financial year 2012-13, the amount of income-tax which is deductible or collectible at source can be reduced by the assessee while […]
Joseph Mudaliar Vs DCIT (ITAT Mumbai) Addition u/s 56(2)(vii)(b) on difference in value in respect of the subject properties where declared sale consideration shown by the assessee is lesser than the stamp duty value (market value) determined by the stamp duty authority Addition u/s 56(2)(vii)(b). The difference in value in respect of the subject properties […]
Mjunction Services Ltd. Vs Union of India (Calcutta High Court) HC directs CBDT to dispose the representation made U/S 194O: A single judge bench of the Calcutta High court on hearing the writ petition filed by the Mjunction Services Ltd.directed the Central Board of Direct Taxes (CBDT) to consider and dispose the representation regarding section […]
Madras High Court stays single-Judge ruling on GST exemption for RWA contributions upto ₹ 7,500. No exemption is applicable when the monthly contribution exceeds ₹ 7,500, the Centre told the Court.
Union of India & Ors. Vs VKC Footsteps India Pvt Ltd. (Supreme Court) The Apex Court Sets aside the order of Gujarat HC and upheld the order of Madras HC. Although the Hon’ble Court has noted some anomalies and suggested the GST Council to look into the same. Background: (Gujarat High Court) The Division Bench […]
South Indian Bank Ltd Vs Commissioner of Income Tax (Supreme Court of India) 1. For purposes of 14A, a presumption can be made that investments have been made out of interest free funds even when there are mixed funds and there is no bifurcation in books of accounts for interest expense. 2. It needs to […]
