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HC - Bombay HC Quashes Vedanta's Reassessment Notice: Disallowance of Interest Expenditure Challenged; AO's altered opinion compared to the stance taken during the initial assessment proceedings.
Vedanta Limited Vs Deputy Commisioner of Income Tax
(2023) TaxCorp(LJ) 31946 (HC-BOMBAY)
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ITAT - Mumbai ITAT Upholds Debatable Nature of Sales Promotion Expenditure Allowance: Rejects Rectification Order Under Section 154.
UCB India Private Limited Vs Assisant Commissioner of Income Tax
(2023) TaxCorp(LJ) 31945 (ITAT-MUMBAI)
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ITAT - Burden of Proof Met: Delhi ITAT Quashes Sec. 68 Addition & Rejects Enhancement under Sec. 56(2)(viib).
Movefast Tour & Travels Pvt. Ltd Vs ITO
(2023) TaxCorp(LJ) 31944 (ITAT-DELHI) · Section 68
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HC - Revenue's appeal against under Section 260A against ITAT order in a Miscellaneous Application is not maintainable, Allows Writ Petition Filing.
L.G. Electronics Inc. Korea Vs COMMISSIONER OF INCOME TAX
(2023) TaxCorp(LJ) 31937 (HC-DELHI)
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HC - Delhi HC Rules Commission in Publication Business Not FTS, Rejects Royalty Classification for Subscription Fee since it did not grant copyright rights.
Springer Nature Customer Services Centre GMBH Vs THE COMMISSIONER OF INCOME TAX
(2023) TaxCorp(LJ) 31936 (HC-DELHI)
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Validity of Section 143(1) Order and Rejection of Section 154 Application: Mismatched Entries for Disallowance under the Income Tax Act and the Need for Revised Audit Report; Order Passed by CIT(A) Confirming Disallowance Deemed Sustainable
NANESH PROJECTS VERSUS DCIT, CPC, BANGALORE
(2023) TaxCorp(LJ) 31935 (ITAT-RAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=106043&Category=ITAT&CategoryType=Zip
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Failure to Discharge Onus under Section 68: Assessee's Unsecured Loans in Question; A.O's Non-compliance with Enquiry Mandate; Pr. CIT Decision u/s 263 Deemed Valid
M/S. BHILAI JAYPEE CEMENT LIMITED VERSUS THE PR. COMMISSIONER OF INCOME TAX-2, RAIPUR (C.G.)
(2023) TaxCorp(LJ) 31934 (ITAT-RAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=106045&Category=ITAT&CategoryType=Zip
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Reassessment Triggered by Tax Evasion Petition: Lack of Material to Form Belief of Escaped Income; Inadequate Reasons for Reopening Assessment; AY 2011-12.
RAJ BIRBAL VERSUS ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE -61 (1) & ORS.
(2023) TaxCorp(LJ) 31933 (HC-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=90000&Category=Judgment&CategoryType=Zip
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Penalty u/s 271(1)(c) Deleted: Assessee's Voluntary Disclosure and Revised Return for Disallowance u/s 94(7) - Bonafide Mistake - Non-Challenge of Assessment Order.
P.R. COMMISSIONER OF INCOME TAX-12, NEW DELHI VERSUS HARISH KUMAR HUF
(2023) TaxCorp(LJ) 31932 (HC-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=90002&Category=Judgment&CategoryType=Zip
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Invalid Reopening of Assessment u/s 147: Failure to Provide Complete Details of Properties Purchased as Required by Notice u/s 142(1) and u/s 148A(b) - Assessee's Reply Included Details of Consideration and Source of Funds.
URBAN HOMES REALTY VERSUS UNION OF INDIA AND ANR.
(2023) TaxCorp(LJ) 31931 (HC-BOMBAY) · https://taxcorp.in/FileOpenDT.aspx?ID=90004&Category=Judgment&CategoryType=Zip
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ITAT - Mumbai ITAT Quashes Assessment of Non-Existent Entity Following Amalgamation.
Abbott India Ltd. (as successor to ‘Solvey Pharma India Ltd’) Vs ACIT
(2023) TaxCorp(LJ) 31929 (ITAT-MUMBAI)
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ITAT - Panaji ITAT Upholds Disallowance of Interest on Loan under Section 48 for Family Settlement Payment.
Sanjay Atchut Poy Raiturcar Vs ITO
(2023) TaxCorp(LJ) 31928 (ITAT-PANAJI) · Section 48
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SC - SC Reverses Punjab & Haryana HC Ruling, Allowing 100% 80-IC Deduction in Initial Assessment Year.
Tejpal Chaudhary Vs COMMISSIONER OF INCOME TAX & ANR.
(2023) TaxCorp(LJ) 31921 (SC) · Section 80-IC
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ITAT - Mumbai ITAT Rules on Scope of Appeal under Sec.248 in Tax-Rate Dispute; Clarified that 'rates in force' refer to the tax rates specified in the relevant Finance Act or the applicable DTAA, whichever is more beneficial to the Assessee.
Reliance Commercial Dealers Limited Vs Commissioner of Income Tax
(2023) TaxCorp(LJ) 31920 (ITAT-MUMBAI) · Section 248
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ITAT - Mumbai ITAT Confirms Revision of Assessment Order Due to Lack of Enquiry on scope of Offshore Services provided by the Assessee's Head Office; AO relied solely on the findings of the TPO.
Kepco Plant Service & Engineering Co. Limited Vs Commissioner of Income Tax
(2023) TaxCorp(LJ) 31919 (ITAT-MUMBAI)
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ITAT - Mumbai ITAT Rules in Favor of Assessee, Deleting Addition (made citing a significant mismatch between the income declared in the taxpayer's return of income and the corresponding receipts mentioned in Form 26AS) Due to Business Model Justification.
Connect Residuary Pvt.Ltd Vs DCIT
(2023) TaxCorp(LJ) 31913 (ITAT-MUMBAI)
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HC - Appeal under Section 260A could be admitted only when HC is satisfied that the case involves substantial question of law.
Prabodhchandra Jayantilal Patel Vs THE PRINCIPAL COMMISSIONER OF INCOME TAX
(2023) TaxCorp(LJ) 31912 (HC-GUJARAT)
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HC - Bombay HC Quashes Reassessment Notice Against Deceased Assessee; Existence of an active PAN for the deceased Assessee does not create an exception in favor of the Revenue.
Dhirendra Bhupendra Sanghvi Vs Assistant Commissioner of Income Tax
(2023) TaxCorp(LJ) 31911 (HC-BOMBAY)
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HC - Gujarat HC Directs Release of Seized Gold Where No Demand Pending Against Assessee; Order of the CIT(A) deleting the addition in the Assessee's hand has attained finality.
Praveenbhai Girdharilal Agarwal Vs PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL)
(2023) TaxCorp(LJ) 31910 (HC-GUJARAT)
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ITAT - Mumbai ITAT Upholds Sec. 143(1) Adjustment of Individual's Club Membership Fees (one-time entry fees) as Capital Expenditure.
Balraj singh Jagjit singh Kharbanda Vs ADIT
(2023) TaxCorp(LJ) 31909 (ITAT-MUMBAI) · Section 143(1)
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