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If show cause notice issued under Section 274 does not specify the limb of Section 271(1)(c) i.e., ‘concealment of income’ and ‘furnishing of inaccurate particulars’ for which the penalty proceedings were initiated is bad in law.
South Eastern Coalfields Ltd Vs The Deputy Commissioner of Income Tax
(2023) TaxCorp(LJ) 31772 (ITAT-RAIPUR) · Section 271(1)(c)
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Powers under Article 226 of the Indian Constitution cannot be fettered by any statutory limitation, however, a writ court does not ordinarily invoke its jurisdiction in case adequate and efficacious remedy is available in the statute subject.
HSBC Holdings PLC Vs Income Tax Department
(2023) TaxCorp(LJ) 31771 (HC-AP)
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Section 253(5) provides that ITAT may admit an appeal after the expiry of relevant period if it is satisfied that there was sufficient cause for not presenting it within that period and the term ‘sufficient cause’ has to be construed liberally.
Monitor Vincom Pvt. Ltd Vs ITO
(2023) TaxCorp(LJ) 31770 (ITAT-KOLKATA)
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Assessee failed to discharge the onus since the phenomenal and fanciful rise in share was not supported by the financial statements of the company and the onus could not be said to be discharged by filing mere documentary evidences of sale and purchase of shares.
Hemil Subhashbhai Shah Vs DCIT
(2023) TaxCorp(LJ) 31769 (ITAT-AHMEDABAD) · Section 68
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Violation of Section 13(1)(d) cannot lead to denial of complete exemption under Sections 11 and 12.
Gujarat Industrial Development Corporation Vs The ACIT
(2023) TaxCorp(LJ) 31768 (ITAT-AHMEDABAD)
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Once the expenditure has been accepted to be for the community development, and environment health & safety expenses, the same cannot be held to be not incurred wholly and exclusively for the purpose of business in the year under consideration.
GMR Warora Energy Ltd Vs Dy. Commissioner of Income Tax
(2023) TaxCorp(LJ) 31761 (ITAT-MUMBAI) · Section 37(1)
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The notice and assessment order passed in the name of non-existing company is a substantive illegality and without jurisdiction.
Coffee Day Resorts (MSM) Pvt. Ltd Vs THE DEPUTY COMMISSIONER OF INCOME-TAX
(2023) TaxCorp(LJ) 31760 (HC-KARNATKATA)
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While determining the question of setting up of business, the nature of business undertaken by the Assessee is required to be examined.
Honda Access India Pvt. Ltd Vs DCIT
(2023) TaxCorp(LJ) 31753 (ITAT-DELHI)
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The royalty received from foreign OEMs cannot be taxed under Section 9(1)(vi)(c).
Qualcomm Incorporated USA Vs DCIT
(2023) TaxCorp(LJ) 31752 (ITAT-DELHI)
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The Assessee is entitled to the refund of credit of advance tax and TDS due to migration of credit from the merged company to the successor company.
Virtusa Consulting Services Pvt. Ltd Vs Income Tax of Department
(2023) TaxCorp(LJ) 31751 (HC-AP)
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The assessment order mentioned that the notice under Section 142(1) was issued and served, but if the Assessee contends non-service of such notice, she is required to prove during trial.
Kamla Rani Vs Income Tax Officer
(2023) TaxCorp(LJ) 31744 (HC-DELHI)
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Power exercised under Section 251 is without jurisdiction, thus the additions made by exercising such power are to be deleted.
Apeejay Shipping Ltd Vs Assistant Commissioner of Income Tax
(2023) TaxCorp(LJ) 31743 (ITAT-KOLKATA)
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The alleged on-money paid from Assessee’s funds from Muscat cannot be taxed under Section 69 as per Article 24 of India-Oman DTAA.
Vijaykumar Kanaiyalal Matta Vs Income Tax Officer
(2023) TaxCorp(LJ) 31736 (ITAT-MUMBAI) · Section 69
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The joint ownership of the property would not stand in the way of claiming exemption under Section 54F.
Zainul Abedin Ghaswala Vs CIT(A)
(2023) TaxCorp(LJ) 31729 (ITAT-MUMBAI)
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The extreme repercussions of issuing LOC should be regulated and should not be made the norm for recovery of outstanding payments to the Bank, Isolated and few-and-far between cases of persons fleeing the country cannot become the uniform rationale for issuing of Look Out Circulars.
Mannoj Kumar Jain & Anr Vs Union of India & Ors.
(2023) TaxCorp(LJ) 31728 (HC-CALCUTTA)
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Penalty paid for late filing of profession tax return is penal in nature and cannot be considered as a compensatory to allow deduction under Section 37(1).
Shriram Chits Maharashtra Ltd Vs DCIT
(2023) TaxCorp(LJ) 31721 (ITAT-MUMBAI) · Section 37(1)
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Merely because the membership is taken in the name of the director, it cannot be said that Assessee won’t get the benefit of the membership of the director.
New Globe Logistik Pvt. Ltd Vs ITO
(2023) TaxCorp(LJ) 31720 (ITAT-MUMBAI)
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Assessee’s claim is allowable as the claim of deduction under Section 80-IC was made before completion of assessment procedure, which fulfils the directory requirement.
Canadian Specialty Vinyls Vs ITO
(2023) TaxCorp(LJ) 31719 (ITAT-DELHI) · Section 80-IC
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The interest income received by the Assessee on temporary short term fixed deposits is eligible for exemption under Section 10AA.
Allstate India Private Limited Vs DCIT
(2023) TaxCorp(LJ) 31718 (ITAT-BANGALORE) · Section 10AA
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The Assessee is a tax resident of Mauritius and is legally entitled to DTAA benefits on the strength of the TRC issued by the Mauritian authorities.
Sapein Funds Ltd Vs CIT(International Taxation)
(2023) TaxCorp(LJ) 31711 (ITAT-DELHI)
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