Income Tax - On commencement of regular assessment proceedings u/s 143(2) of Act , there is no need for intimation u/s 143(1)(a)(i) Where the summary procedure under section 143(1)(a)(i) has been adopted, there is scope available for the revenue to make assessment u/s 143(3) of the Act. But the converse is not available. A regular assessment proceedin...
Income Tax - Substantial question of Law (SQL). On interpretation of section 260A of the Income Tax Act , 1961 and section 100 of the code of civil procedure, The Hon’ble Supreme Court reiterated that it is essential that the High Court must formulate substantial question of law (SQL) and only such SQL can be and need to […]...
Income Tax - A remedy by way of appeal from the orders of ITAT is provided both u/s.260A of the Income-tax Act, 1961 and u/s.15 (w.e.f. 6-1- 2006) of the N.T.T. Act, 2005. Although appeals from the orders of ITAT are supposed to be filed only in the National Tax Tribunal from 6-1-2006, yet appeals are being filed in the High Court for good reasons. He...
PCIT Vs Joginder Singh Chatha (Punjab and Haryana High Court) - Punjab and Haryana High Court held that addition under section 69 of the Income Tax Act towards unexplained investment unsustainable as nature and source of the investment duly explained....
PCIT Vs Sekhar Kumar Mohapatra (Orissa High Court) - Orissa High Court held that order passed under Section 254 (2) of the Income Tax Act, 1961 cannot be construed to be an order within the meaning of Section 260A to make it appealable before this Court....
Shah Originals Vs CIT (Supreme Court of India) - Supreme Court held that profits earned on account of foreign exchange fluctuation cannot be included/ treated as derived from the business of export income. Accordingly, deduction under section 80HHC of the Income Tax Act not available....
CIT Vs Shell Global Solutions International B.V. (Gujarat High Court) - Gujarat High Court held that initiation of penalty proceedings u/s 271(1)(c) of the Income Tax Act in the absence of any material to establish the concealing of income or furnishing inaccurate particulars unsustainable-in-law....
PCIT VS Azure Retreat Pvt Ltd (Delhi High Court) - Delhi High Court held that disallowance of travel expenditure unjustified as the expenses incurred had a nexus with the business interest of the respondent/assessee and AO has not brought anything on record to prove that the expenditure were of personal nature....
Trade Notice No. 07/2011 - (10/03/2011) - All conditions in policy circular no 15 of 1st February 2011 will continue to apply, except the specification about dates and the calendar given in Annexure 2 thereof since the allocation is being made today (10th March 2011 and not on 10th February 2011). Special attention be paid to para 3(iv) & (...
PCIT Vs Joginder Singh Chatha (Punjab and Haryana High Court) -
PCIT Vs Sekhar Kumar Mohapatra (Orissa High Court) -
Shah Originals Vs CIT (Supreme Court of India) -
CIT Vs Shell Global Solutions International B.V. (Gujarat High Court) -
PCIT VS Azure Retreat Pvt Ltd (Delhi High Court) -
PCIT Vs Chrys Capital Investment Advisors (India) Pvt. Ltd. (Delhi High Court) -
Rhone Associates Pvt Ltd Vs ACIT (ITAT Delhi) -
CIT Vs Indus Towers Ltd. (Delhi High Court) -
Patanjali Yogpeeth Trust Vs Commissioner of Central Excise (CESTAT Allahabad) -
PCIT Vs Security Printing and Mining Corporation of India Ltd (Delhi High Court) -