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Income tax benefit, as given in the Second Schedule of the SEZ Act shall be available only for import for the purpose of re- export.
Om Nanotech Pvt Ltd Vs PR. COMMISSIONER OF INCOME TAX-7
(2023) TaxCorp(LJ) 31333 (HC-DELHI) · Section 10AA
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Addition under Section 68 was not warranted since evidences in the form of bank details were furnished by the Assessee in support of the investments in question.
Jaico Realtors Pvt. Ltd Vs THE PR. COMMISSIONER OF INCOME-TAX
(2023) TaxCorp(LJ) 31332 (HC-KARNATKATA) · Section 68
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The case pertained to allegation of escaped income of more than Rs.50 Lacs which satisfied the provisions of the amended Section 149(1)(b).
Salil Gulati Vs ASSISTANT COMMISSIONER OF INCOME TAX
(2023) TaxCorp(LJ) 31327 (SC)
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Provision made on account of ESOP expenditure would be an ascertained liability and not a contingent liability warranting any disallowance either under normal provisions or while computing book profits under Section 115JB.
Vodafone Idea Ltd (formerly known as Idea Cellular Limited) Vs Assistant Commissioner of Income Tax
(2023) TaxCorp(LJ) 31326 (ITAT-MUMBAI) · Section 28(iv)
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Receipts from DEPB and duty drawback schemes are not eligible for deduction under Section 80-IB.
Saraf Exports Vs Commissioner of Income Tax
(2023) TaxCorp(LJ) 31318 (SC) · Section 80-IB
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On mere belated remitting the TDS after deducting the same by the concerned person, no penalty shall be leviable under Section 271C.
US Technologies International Pvt. Ltd. & Others Vs The Commissioner of Income Tax
(2023) TaxCorp(LJ) 31317 (SC) · Section 271C(1)(a)
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Ascertaining the nature of payment is vital for determining if the Assessees were at all obligated to deduct the tax.
DLF Homes Panchkula Pvt Ltd Vs JOINT COMMISSIONER OF INCOME TAX
(2023) TaxCorp(LJ) 31316 (HC-DELHI) · Section 194-I
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Expenses incurred for promotion of pharmaceutical products in the form of gifts or incentives (freebies) to the doctors are against public policy and being prohibited by law and same are not allowable under Section 37(1).
Galderma India Pvt. Ltd. (Formerly known as Nestle Skin Health India Pvt. Ltd.) Vs ACIT
(2023) TaxCorp(LJ) 31309 (ITAT-MUMBAI)
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Reassessment in the name of non-existent company, despite the Revenue being diligently informed about the scheme of amalgamation, is invalid and liable to be quashed.
Sterlite Technologies Limited Vs The Deputy Commissioner of Income tax
(2023) TaxCorp(LJ) 31308 (HC-BOMBAY)
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The reassessment proceedings could not have been initiated in the relevant AY, since the payments for the flat were made in earlier AYs, and no part of the transaction took place in the relevant AY.
Sanjay Kumar Vs ASSISTANT COMMISSIONER OF INCOME TAX & ANR
(2023) TaxCorp(LJ) 31307 (HC-DELHI) · Section 148
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For the purpose of prosecution, the proceedings have to be initiated under Section 279 and usually the notice has to be served on the person concerned.
Manoj Vasudev Pardasany Vs UNION OF INDIA & ORS.
(2023) TaxCorp(LJ) 31306 (HC-DELHI)
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The difference of heads under which the income was disclosed in the present case and in the coordinate bench case would not be of any material consequence in view of the final finding on the issue.
Suman Paper & Boards Ltd Vs JOINT COMMISSIONER OF INCOME TAX & 2
(2023) TaxCorp(LJ) 31305 (HC-GUJARAT)
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In the present case, AO erred in allowing deduction and caused loss of tax to the Revenue, thus, HC committed a very serious error in setting aside the revisionary order.
Paville Project Pvt. Ltd Vs The Commissioner of Income Tax 7
(2023) TaxCorp(LJ) 31292 (SC)
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The statute must be read as a whole and one provision of the Act should be construed with reference to other provisions in the same Act so as to make a consistent enactment of the whole statute.
Vikram Sujitkumar Bhatia & Others Vs Income Tax Officer
(2023) TaxCorp(LJ) 31291 (SC) · Section 153C
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As Assessee does not have a permanent establishment in India, the article 7 of the treaty will trigger only if such profits are attributable to a permanent establishment in India.
Taj TV Limited Vs DCIT
(2023) TaxCorp(LJ) 31288 (ITAT-MUMBAI)
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Several notices were issued under Section 142(1) seeking details of deposits made by account holders, however no reference was made to any material or document seized in the course of search in any of the notices.
Renukamat Multi State Coop Urban Credit Soc. Ltd Vs ACIT
(2023) TaxCorp(LJ) 31287 (ITAT-MUMBAI)
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HC - Delhi HC Directs Revenue to Dispose of Assessee's Objections Against Section 153C Notices; Provided important guidelines for the handling of objections against Section 153C.
Kamal Nath Vs DEPUTY COMMISSIONER OF INCOME TAX
(2023) TaxCorp(LJ) 31280 (HC-DELHI) · Section 153C
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Since both the conditions for classification as financial liability failed, the instruments cannot be classified as financial liability and thus, in turn cannot be termed as CFI in absence of the financial liability component.
Reliance Industrial Investment and Holdings Limited Vs DCIT
(2023) TaxCorp(LJ) 31274 (ITAT-MUMBAI)
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All the transactions of the Assessee with its associated enterprise for purchase of online advertisement space has been held to be at arm’s length and therefore, no further profits could be attributed.
Google India Private Ltd Vs The Additional Commissioner of Income Tax
(2023) TaxCorp(LJ) 31273 (ITAT-BANGALORE)
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The question of law framed in the instant appeals is squarely covered.
Google India Pvt Ltd Vs THE COMMISSIONER OF INCOME TAX
(2023) TaxCorp(LJ) 31272 (HC-KARNATKATA)
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