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Income Tax judiciary-2

Bogus purchase additions confirmed by CIT(A) & ITAT: HC upheld Section 276C prosecution

Nayan Jayantilal Balu Vs Union of India (Bombay High Court)

Nayan Jayantilal Balu Vs Union of India (Bombay High Court) Perusal of the complaint launched against Petitioner also disclose allegations that Petitioner failed to substantiate the claim of purchases amounting to Rs. 2,74,03,016/- and the assessing officer held the purchases to be bogus and made an addition of Rs. 34,25,377/­(12.5% of ...

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Section 194D TDS not deductible If Sum Paid Directly to Services Providers

Commissioner of Income Tax Vs SBI Life Insurance Company Ltd. (Bombay High Court)

Commissioner of Income Tax Vs SBI Life Insurance Company Ltd. (Bombay High Court) Therefore the obligation to deduct is on the person who is paying and the deduction to be made at the time of making such payment. Factually and admittedly no amount has been paid to the agents by respondent as a reimbursement of […]...

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Section 148 notice issued to a dead assesse is notice without jurisdiction

Arunaben Kanaiyalal Patel L/R of Late Kanaiyalal Dalsukh Patel Vs ACIT (Gujarat High Court)

Arunaben Kanaiyalal Patel L/R of Late Kanaiyalal Dalsukh Patel Vs ACIT (Gujarat High Court) The subject matter of challenge in the present writ application is to the notice of reopening issued under Section 148 of the Act for the A.Y. 2017-18, essentially on the ground that the same is without jurisdiction as the impugned notice […...

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Converting of debentures out of debit balance cannot be treated as diversion of funds

Addl. CIT Vs G.S. Pharmbutor P. Ltd. (ITAT Delhi)

Addl. CIT Vs G.S. Pharmbutor P. Ltd. (ITAT Delhi) It is undisputed fact that the assessee has not given any loan or advances during the year. As can be seen from the copy of account of M/s. Moderate Leasing & Capital Services Limited, assessee has been paying advances and loan to the said company from […]...

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Education cess cannot be disallowed under section 40(a)(ii)

LG Soft India Private Limited Vs DCIT (ITAT Bangalore)

LG Soft India Private Limited Vs DCIT (ITAT Bangalore) The Hon’ble Bombay High Court in the case of Sesa Goa Limited v. JCIT (supra) had held education cess is an allowable expenditure as the word ‘cess’ is conspicuously absent under the provisions of section 40(a)(ii) of the I.T.Act The Hon’ble High Court also placed reli...

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Section 263 jurisdiction cannot be exercised in twin conditions not satisfied

CIT Vs Manna Trust (Rajasthan High Court)

CIT Vs Manna Trust (Rajasthan High Court) The respondent Trust is a registered charitable trust. The assessing officer for the assessment year 2016-17 accepted the return filed by the trust and granted exemption as applicable under law. The Commissioner, Income-Tax took the said order in revision under Section 263 of the Act and held that...

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Saving of Rs. 2.5 Lakh by 80 Year Old Assessee cannot be doubted: ITAT

M. K. Kempasiddaiah Vs ACIT (ITAT Bangalore)

M. K. Kempasiddaiah Vs ACIT (ITAT Bangalore) Since no documentary evidence was filed, the AO treated the sum of Rs.2,50,000/- was unexplained investment which the CIT(A) confirmed. It is the plea of the assessee that the assessee is a 80 years old person and his savings to the extent of Rs.2,50,000/- cannot be doubted. After […]...

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Acquittal in a Criminal Trial has no Bearing or Relevance on Disciplinary Proceedings: SC

Maharashtra State Road Transport Corporation Vs Dilip Uttam Jayabhay (Supreme Court of India)

Maharashtra State Road Transport Corporation Vs Dilip Uttam Jayabhay (Supreme Court of India) Therefore, the short question which is posed for the consideration of this Court is whether in the facts and circumstances of the case the punishment of dismissal can be said to be an unfair labour practice on the ground that the same […]...

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Internal TNMM preferred over external TNMM considering a higher degree of comparability

Neilsoft Private Limited Vs DCIT (ITAT Pune)

Neilsoft Private Limited Vs DCIT (ITAT Pune) This appeal by the assessee is directed against the final assessment order dated 13-04-2021 passed by the Assessing Officer u/s 143(3) r.w.s. 144C(13) r.w.s. 143(3A) & 143(3B) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) in relation to the assessment year 2016-17. ...

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HC allowed release of cash seized in full to Income Tax Dept

Union of India Vs State of Kerala (Kerala High Court)

Union of India Vs State of Kerala (Kerala High Court) It is true that even while dismissing the application submitted by the petitioner herein, the learned Magistrate ordered to retain 30% of the amount for securing the interest of the Income Tax Department. Apparently, an amount of 30% was fixed under the impression that the […]...

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