Income Tax judiciary-2

Capital Gain tax liable on property sold by bank to recover loan given to group concerns

T.S. Hajee Moosa & Co Vs. ACIT (ITAT Chennai)

The issue under consideration is whether Capital Gains will be applicable in case where Bank sold the property of group concern as it failed to repay the loan?...

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CIT(A) cannot grant conditional stay without giving reason for such conditions

Shyla Pushpan Vs CIT (Kerala High Court)

In the given case, the contention of the petitioner is essentially that, why the Appellate Authority deemed it necessary for the petitioners to pay 20% of the total demand, as a condition for stay of the balance 80% of the demand arising from the assessment order during the pendency of the appeal....

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Revised minimum threshold limit of tax effect also applies to pending appeals 

ITO Vs Aditya Buildwell Pvt. Ltd. (ITAT Delhi)

Revised enhanced minimum threshold limit of tax effect of Rs. 50,00,000 vide recent CBDT Circular No. 17/2-19, dt. 8-8-2019 was applicable not only for appeals to be filed by revenue in future; but also for appeals already filed by revenue in ITAT. Accordingly, all existing appeals in ITAT, having tax effect below revised/enhanced limit o...

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Section 80JJAA do not differentiate between Salary & Wages

Manhattan Associates (India) Development Centre (P.) Ltd. Vs DCIT (ITAT Bangalore)

person working in software industry cannot be termed as 'Wages'. In our view there is no distinction sought to be made in the provisions of Sec.80JJAA of the Act...

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Assessment without Section 143(2) notice is not justified in law 

ITO Vs Satish Singh Bhati (ITAT Delhi)

The issue under consideration is whether CIT(A) is correct by annulling the assessment order on the ground that no notice under section 143(2) was issued before the completion of assessment?...

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Assessee eligible for TDS deducted on Income collected on behalf of Govt.

Council of Handicrafts Development Corporation Vs ITO (ITAT Delhi)

The issue under consideration is whether A.O. is correct in denial of credit of TDS on rental income collected by the appellant under an agreement on behalf of Government?...

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GST Fraud Case: HC denies Bail, considering SC Order in case of Co-Accused

Rajesh Arora Vs Union of India (Rajasthan High Court)

Rajesh Arora Vs Union of India (Rajasthan High Court) Petitioner has filed this petition under Section 439 Code of Criminal Procedure, 1973 seeking regular bail in F.I.R. No. 15/2018 registered at Directorate General of Goods and Services Tax Intelligence Zonal Unit, Jaipur for offences under Sections 132(1)(B), (C), (D), (F), (I), (L) of...

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Students Contribution for Building Development Fund is capital receipt

Vidya Bharati Society for Education & Scientific Advancement Vs ACIT (ITAT Kolkata)

Vidya Bharati Society for Education & Scientific Advancement Vs ACIT (ITAT Kolkata) Merely because the contributions from students were collected under the nomenclature of development fee cannot ipso facto lead to conclusion that it cannot be considered to be corpus contribution. It is true that in terms of section 12(1) read with sec...

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Coercive steps shall be kept in abeyance until rectification orders are passed

Manambur Service Co-Operative Bank Limited Vs ITOr (Kerala High Court)

Manambur Service Co-Operative Bank Limited Vs ITO (Kerala High Court) HC states that the rectification applications will be taken up for consideration by respondent without much delay, and affording reasonable opportunity of being heard to the petitioner through authorised representative/counsel, if any, may pass orders thereon without mu...

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No section 14A disallowance if there is no exempt income in that year

DCIT Vs JSW Limited (ITAT Mumbai)

DCIT Vs JSW Limited (ITAT Mumbai) The issue under consideration is whether A.O. is correct in restricting the disallowance under section 14A of the Income Tax Act, 1961, without appreciating the fact that the appellant company has not earned any tax-exempt income during the relevant assessment year? As per Section 14A of the Act, the [&he...

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