CIT Vs Information Architects (Bombay High Court) The amounts paid by the assessee to its employees towards overseas maintenance allowance. These amounts were paid towards expenses at the rate of IEP 50 per day per employee. Held that these amounts constitute only reimbursement for the expenses incurred by the employees at a particular amount per […]
High Court states that if the Assessing Officer had no jurisdiction to initiate re- assessment proceeding, the mere fact that subsequent orders have been passed would not render the challenge to jurisdiction infructuous. If the very basis for re- opening assessment does not survive, orders on such re-opening would not survive too. Hence, considering the matter in its entirety HC are of the view that the impugned notice under Section 148 of the Act issued by AO cannot be sustained.
Article on Section 68 with recent development in Case Laws in Bombay High Court in case of Pr. CIT vs Alag Securities Pvt Ltd. vide ITA No. 1512 of 2017 dated June 12, 2020 UNXEPLAINED CASH CREDITS, INVESTMENT, MONEY UNDER PROVISIONS OF INCOME TAX ACT, 1961 CASH CREDIT [SECTION 68] define as where any sum is […]
Although relief has primarily been claimed against the schools, the management of not a single school has been impleaded as a respondent by the PIL petitioner. Obviously, granting the prayers of the PIL petition in the absence of the schools would amount to breach of principles of natural justice.
In the present case, Assessee is engaged in the business of providing accommodation entries to entry seekers. During the assessement proceedings AO held that the identity of the parties involved in the transactions were not furnished as well as genuineness of the transactions relating to total cash deposits were not satisfactorily explained by the assessee.
Whether the AO is correct in considering that the capital gain will arise in the year when the land is transferred to the co-operative society formed by the flat purchasers and not when flats are sold?
Bombay High Court in the case of Mrs. Rajani B. Somkuwar Versus Ms.Sarita Somkuwar & Anr. passed an order on 19th June, 2020 while disposing a writ petition filed by a 70-year-old mother against her daughter seeking her eviction from the flat they reside in alleging that she tortured her both mentally and physically.
Despite the repeated appraisal of arbitral clauses in contracts between parties by both the legislature and judiciary as the key to arbitration becoming the preferred mode for commercial dispute resolution as long as such clauses remain impartial, several Government organizations and Public Sector Undertakings have one-sided clauses for dispute resolution in their agreements. The Bombay High Court also took note of the same.
The issue under consideration is whether A.O. is correct in issuing Notice under section 147 for re-opening of assessment irrespective of the fact that the material on which he relied is already present in front of him at the time of assessment u/s 143(3)?
Collector of Stamps committed a manifest error in not at all adverting to the fact that the Charity Commissioner had determined the value of the trust property by following requisite process to ensure the best value, and determining the market value of the trust property on the sole premise that there was a vast difference in the value determined by the Deputy Director and the value at which the Charity Commissioner accorded sanction for sale.Therefore, the court remitted back the matter to the Collector of Stamps for fresh adjudication after providing an opportunity of hearing to assessee.
