Income Tax : The three-judge bench of Supreme Court of India in the case of Deputy Commissioner of Income Tax v. M/S Pepsi Foods Ltd struck dow...
Income Tax : A perusal of this order reveals that the Tribunal has recorded a finding that it is empowered by Section 254 of the Act to stay pr...
Income Tax : The existing provisions of Section 254(2) provide for a time-limit of four years from the date of the order of the Appellate Tribu...
Income Tax : Delhi High Court held that Section 260A of the Income Tax Act refrains from incorporating a specific provision permitting the fili...
Income Tax : ITAT Raipur held that assessment framed by AO u/s. 143(3) r.w.s. 147 of the Income Tax Act without issuance of notice under sectio...
Income Tax : ACIT (OSD) Vs G4S Facility Services (India) Ltd. (ITAT Delhi): Subsequent judgment reversing earlier Legal Interpretation, cannot ...
Income Tax : ITAT Kolkata held that reopening of assessment framed u/s. 148A(d) without application of mind and without controverting the expla...
Income Tax : ITAT Mumbai held that passing of assessment order u/s 147 r.w.s. 144B of the Act without disposing the objections raised by the as...
Held that the capital subsidy should be reduced for computation of book profit. Particularly in view of the excruciating fact that reduction of subsidy from written down value was accepted by the Assessing Officer and he did not tinker with the amount of depreciation claimed.
Karnataka High Court held that the appellate authority under POSH Act, 2013, despite the absence of specific provision for granting of interim order, would have the power to consider the interim application.
Gujarat High Court held that once indexed renovation expense of co-owner accepted, the assessee is not required to produce any documents to prove his share of indexed renovation expense. Accordingly, allowance should be granted even without proof.
Madhya Pradesh High Court held that the non-functionality of the TRACES Portal shall not be grounds for denying the benefit arising out of the statutory provision under the Income Tax Act.
Delhi High Court held that passing of a draft assessment order as mandated under section 144C of the Income Tax Act is mandatory prior to passing of final assessment order. Accordingly, order liable to be set aside.
Delhi High Court held that passing of fresh assessment order beyond time limit prescribed under section 153(3) of the Income Tax Act cannot be sustained and hence set aside.
Delhi High Court held that as directed by Tribunal AO was required to verify and attend grievance of short credit of TDS. Thus, restricting TDS claim of petitioner to disclosures made in return unjustified.
ITAT Raipur held that law will help only those who are vigilant and will not assist the one who are careless. Accordingly, request of assessee to restore matter back not granted as assessee has chosen not to represent its matter for more than 08 years.
ITAT Raipur held that CIT(A) deleted the addition towards unexplained cash under section 68 of the Income Tax Act without proper verification of the facts and evidences and thus the matter restored back to the file of AO for adequate verifications.
ITAT Raipur held that interest expenditure incurred for earning income chargeable under the head “Income from other sources” is allowable as deduction under section 57 of the Income Tax Act.
