Access significant and up-to-date high court judgments for legal insights and precedent. Stay informed about the latest legal decisions and their impact on various areas of law.
Corporate Law : Kerala High Court grants divorce citing husband's disinterest in family life and conjugal relations, emphasizing mental cruelty as...
Corporate Law : Kerala High Court highlights legal gaps in cyberbullying cases, calls for specific legislation, noting BNS's inadequacy, in a bail...
Goods and Services Tax : Calcutta HC quashes GST demand, ruling that ITC cannot be denied due to retrospective supplier deregistration if the purchaser mee...
Goods and Services Tax : The March 2025 edition of the GST Case Law Compendium offers comprehensive insights into pivotal GST-related judgments by the High...
Income Tax : Bombay High Court rules on tax evasion by Buniyad Chemicals, addressing unexplained credits, money laundering, and regulatory acti...
Corporate Law : Key IBC case law updates from Oct-Dec 2024, covering Supreme Court and High Court decisions on CoC powers, resolution plans, relat...
Corporate Law : SC rules on Special Court jurisdiction; NCLAT redefines financial debt; HC upholds IBBI regulations and addresses various insolven...
Goods and Services Tax : HIGH COURT OF CALCUTTA: Ramesh Kumar Patodia v. Citi Bank [WPO NO. 547 OF 2019 JUNE 24, 2022 ] Facts: ♦ Petitioner is a holder ...
Goods and Services Tax : CGST, Gurugram (Anti Evasion) Vs Gaurav Dhir (Chief Judicial Magistrate, District Courts, Gurugram) U/s 132(1)) r/w 132(1)(b)(C)(e...
Corporate Law : In order to dispense with the physical signatures on the daily orders (which are not important/final orders and judgments) of the ...
Income Tax : Gujarat High Court quashes Punjab National Bank's tax assessment, citing non-application of mind and imposes an exemplary cost of ...
Custom Duty : The appellant/writ petitioner was under Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016 ini...
Income Tax : Bombay High Court held that order passed without granting an opportunity of being heard is passed against the principles of natura...
Goods and Services Tax : Allahabad High Court sets aside GST demands against non-existent Max Ventures, ruling that proceedings cannot continue post-merger...
Income Tax : Orissa HC upholds faceless assessment, ruling that notice sequence under Sections 142(1) & 143(2) is immaterial. Petition dismisse...
Corporate Law : Bombay High Court implements "Rules for Video Conferencing 2022" for all courts in Maharashtra, Goa, and union territories, effect...
Income Tax : CBDT raises monetary limits for tax appeals: Rs. 60 lakh for ITAT, Rs. 2 crore for High Court, and Rs. 5 crore for Supreme Court, ...
Corporate Law : The Delhi High Court mandates new video conferencing protocols to enhance transparency and accessibility in court proceedings. Rea...
Income Tax : Income Tax Department Issues Instructions for Assessing Officers after Adverse Observations of Hon. Allahabad High Court in in Civ...
Corporate Law : Delhi High Court has exempted the Lawyers from wearing Gowns practicing in the High Court with effect from March 2, 2022 till furt...
The only dispute in the present appeals is as to whether the assessee is entitled to deduction under section 80P(2)(a)( i) of the Income-tax Act, 1961, in respect of the income from the investment of rupees two crores in the purchase of 13.5 per cent. PSEB Bonds, 2003 First Series on September 20, 1993.
Argument of the learned counsel on behalf of the Food Corporation of India that since the amount of Rs. 10,31,344 has admittedly been paid on account of interest, it retains its character as interest and, therefore, the Food Corporation of India must be allowed to deduct interest thereon at the rate in force, is not tenable
Even if the ground about contravention of the provisions of Section 11(5) of the Act is validly taken by the respondent, the same would have a bearing only at the point of time of the assessment of the petitioner-trust and would not be a material consideration in so far as granting of approval under Section 80G(5) of the Act is concerned.
Explore the Kerala High Court judgment in CIT vs. Shri. C. Najeeb regarding penalty on income determined under Section 158BC of the Income Tax Act. Discover key questions of law, such as whether the Tribunal’s decision to levy income tax on 15% of total receipts is correct. Dive into the intricacies of assessment and penalty proceedings, including insights on undisclosed income, civil liability, and the interpretation of Section 158BFA. Uncover the court’s findings, providing clarity on the computation of undisclosed income and the imposition of penalties in this significant tax case.
Learned counsel for the petitioners has submitted that in fact the respondents had no Jurisdiction to seize the trucks and he has claimed damages. The submission of the learned counsel for the petitioners is correct. It has been repeatedly held by several Division Benches of this Court that trucks cannot be seized under the U. P. Trade-tax Act e.g., in the case of M/s. D. B. Timber Merchant, Ballia v. Commissioner of Sales-tax and another, 1992 UPTC 18, M/s. M. S. Freight Carriers and another v. Sales Tax Officer, Check Post, Ghaziabad, 1992 UPTC 273, M/s. Freight Carriers of India, Calcutta v. Deputy Commissioner (Executive), Sales Tax, Ghaziabad and others, 1992 UPTC 604, etc.
The Tribunal, Ahmedabad Bench, has referred the following questions in respect of the asst. yrs. 1972-73 and 1973-74 for the consideration of the High Court under s. 256(1) of the IT Act, from the Tribunal’s order dt. 18th August 1981, and 20th August 1983, the later being question on the ground which was raised but through oversight not decided in the earlier order by the Tribunal.
The short point which arises for consideration in this appeal is : Whether notional interest on interest-free deposit received by the assessee against letting of property could be taken into account in cases falling under section 23(1)(b) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) In other words, whether notional interest would form part of actual rent received or receivable under section 23(1)(b) ?
In our opinion, the view which we are taking is also fortified by the proviso to s. 119 of the Act which specifically provides that the Board cannot issue instructions to the IT authority to make a particular assessment or to dispose of a particular case in a particular manner as well as not to interfere with the discretion of the CIT(A) in exercise of his appellate functions.
Shorn of all details, it emerges that the assessee first filed his returns for the assessment years 1983-84, 1984-85, 1985-86 and 1986-87 showing income ranging between Rs. 10,000 and Rs. 12,000. Later action under Section 132 was taken against him which led to reopening of the assessment. A notice under Section 148 was served on him
As per the CBDT Circular discussed in the case of Smt. Pati Devi vs. ITO; 240 ITR 727 Karnatka 500gm, jewellery is expected in the possession of a married lady and that much of ornaments cannot be seized. If we go with the CBDT Circular dated 11.05.1994 and the ratio laid down in the case of Smt. Pati Devi (supra), then each lady is expected to own 500gm. ornaments.
