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Provision of Section 68 cannot be invoked where share subscription transaction are channeled through bank and wherein the identity and creditworthiness is established.
Sejima Texyarn Pvt Ltd Vs ITO
(2022) TaxCorp(LJ) 30041 (ITAT-MUMBAI) · Section 68
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Section 269SS prior to Finance Act 2015 amendment applies to loans and deposits but does not apply to the advance received as the said amendment is not retrospective in nature.
Ruhil Developers Pvt. Ltd Vs ACIT
(2022) TaxCorp(LJ) 30040 (ITAT-DELHI) · Sections 269SS, 271D
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Non disposal of application for registration within the period of 6 months as stipulated under Section 12AA(2) will not result in a deemed grant of registration.
Raghuraji Devi Foundation Trust Vs The Commissioner Of Income Tax
(2022) TaxCorp(LJ) 30039 (HC-ALLAHABAD) · Section 12AA
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Parties would be entitled to raise all pleas and contentions including reliance on the judgment in the case of Engineering Analysis and the contention of the Revenue that notwithstanding the said judgment, the payments would be covered under the head Royalty etc.
Infosys Technologies Ltd.ETC Vs THE COMMISSIONER OF INCOME TAX & ANR.
(2022) TaxCorp(LJ) 30038 (SC)
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For rectification of errors statutory remedy exists in law.
Anshul Jain Vs PRINCIPAL COMMISSIONER OF INCOME TAX & ANR.
(2022) TaxCorp(LJ) 30031 (SC)
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Service tax collected by service providers is not the income of the service provider since service provider acts as a collecting agency for the Government for collection of service tax.
Cathay Pacific airways Limited Vs Assistant Commissioner of Income Tax (IT)
(2022) TaxCorp(LJ) 30030 (ITAT-KOLKATA) · Section 44BBA
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ITAT is justified in scrutinising the materials on record and since ITAT finding is entirely factual, no substantial question of law arises therefrom.
Linde India Ltd Vs PRINCIPAL COMMISSIONER OF INCOME TAX-4
(2022) TaxCorp(LJ) 30024 (HC-CALCUTTA)
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Revenue is direct to adopt the valuation of Rs 3,833/share computed on the basis of the fair market value of the net assets.
Sushiladevi R Somani Vs Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 30017 (ITAT-MUMBAI)
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A Protocol to DTAA is its integral part and carries the same binding force as the MFN clause therein.
Koninklijke Philips N.V Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 30011 (ITAT-KOLKATA)
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Section 148A(d) order identifies the transaction specifically which was subject matter of SCNs.
Saroj Chandna Vs INCOME TAX OFFICER
(2022) TaxCorp(LJ) 30010 (HC-DELHI)
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Despite having a noble objective, Assessee could not be said to be a charitable trust eligible for registration under Section 12AA.
Dhan Housing and Habitat Development of Poor for Empowerment Confederation Vs CIT (Exemptions)
(2022) TaxCorp(LJ) 30009 (ITAT-CHENNAI)
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Assessee has not produced the receipts in case of donation of Rs.65.34 Lacs paid to Bharatiya Janata Party, but demonstrated the same through Assessee’s bank account.
Lodha Developers Ltd. Vs The Dy. Commissioner of Income Tax
(2022) TaxCorp(LJ) 30008 (ITAT-MUMBAI)
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There is no provision in the VSV Act prohibiting award of interest on delayed refund, the VSV Act does not authorise the respondent to either delay or withhold the payment of the refund.
Anjul Vs OFFICE OF PRINCIPAL COMMISSIONER OF INCOME TAX-12, & ORS.
(2022) TaxCorp(LJ) 30007 (HC-DELHI)
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The Revenue provided less than 7 days to furnish the reply to show cause notice whereas Section 148A(b) provides that a period of not less than 7 days has to be provided.
Nidhi Bindal Vs INCOME TAX OFFICER WARD 36(1), DELHI & ANR
(2022) TaxCorp(LJ) 30006 (HC-DELHI) · Sections 148A(c)
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Revisionary jurisdiction cannot be exercised on a issue which is already decided in appellate proceedings by CIT(A).
Greenwell Orchards Vs The Principal Commissioner of Income Tax
(2022) TaxCorp(LJ) 30005 (ITAT-AHMEDABAD)
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From the combined reading of Section 245R(2)(i) and Section 153, it is clear that assessment order is not void even though payment made to UAE entity is assessed and disallowed.
Think and Learn Private Limited Vs Principal Commissioner of Income Tax - 3
(2022) TaxCorp(LJ) 30004 (ITAT-BANGALORE)
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CIT(A) disregarded principle of natural justice in holding that relief can be claimed only by filing the revised return within the statutory time limit that had already expired.
Heidrick and Struggles Inc. Vs DCIT
(2022) TaxCorp(LJ) 30003 (ITAT-DELHI)
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HC ruling cannot be treated as precedent while keeping the question of law on CBDT’s powers under Section 119(2)(b) open for consideration in an appropriate case.
Vasudeva Adigas Fast Food Pvt. Ltd Vs Central Board of Direct Taxes & Others
(2022) TaxCorp(LJ) 29996 (SC)
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Section 56(2)(viib) is not applicable to the present case, since the same is only relevant for issuance of shares to residents.
Raw Pressery Private Limited (formerly known as Rakyan Beverages Pvt. Ltd.) Vs ACIT
(2022) TaxCorp(LJ) 29995 (ITAT-MUMBAI)
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CIT proceeded with an understanding that the profit attribution of a Fixed Place PE and Dependent Agent PE are in pari materia which has been specifically rejected in the binding judicial precedents stated above.
MFE Formwork Technology Sdn Bhd Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29988 (ITAT-MUMBAI)
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