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Assessee is eligible for depreciation under Section 32 as non-compete fee is an intangible asset.
Abbott Healthcare Private Limited Vs Asstt. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29876 (ITAT-MUMBAI)
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Merely because some pecuniary limit has been fixed for purpose of distribution of work between officers, it would not mean that there shall be inherent lack of jurisdiction.
Shivaaditiya Jems And Jewellery Private Limited Vs Income Tax Officer
(2022) TaxCorp(LJ) 29875 (HC-ALLAHABAD)
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The orders passed under Section 201(1) and 201(1A) is time barred since the notice itself was issued beyond the period of four years from the end of relevant FY.
Google India Pvt Ltd Vs The DCIT
(2022) TaxCorp(LJ) 29874 (ITAT-BANGALORE)
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CBDT Notification No.113/2021 dt. Sept 17, 2021, extending the deadline for completion of assessment under Benami Act cannot be extended to Adjudicating Authority who ceased to hold the office
Ramaa Advisors Pvt. Ltd Vs UNION OF INDIA & ANR
(2022) TaxCorp(LJ) 29867 (HC-DELHI)
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Though the special audit report is not binding on the Revenue, the reasons for discarding it have to be recorded by the AO after proper discussion and cannot be discarded summarily.
SRS Mining Vs The Union of India
(2022) TaxCorp(LJ) 29866 (HC-MADRAS)
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The cognizance, which has been taken for evasion of tax is ex-facie erroneous and deserves to be quashed and set aside.
Ashish Agarwal Vs Income Tax Department
(2022) TaxCorp(LJ) 29865 (HC-RAJASTHAN)
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Assessee could not substantiate or produce any evidence to correlate the expenses and thus disallowance is confirmed.
VVV & Sons Edible Oils Ltd Vs The ACIT
(2022) TaxCorp(LJ) 29864 (ITAT-CHENNAI)
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If an adverse order is passed by PCIT then no effect shall be given for one week from the date of service of the order.
China Construction Sausum India Pvt. Ltd Vs DEPUTY COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 29863 (HC-DELHI)
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The appeals are non-maintainable on the basis that the impugned orders were order of discharge which could only be subjected to revisionary proceedings under Section 397(1) of Cr.P.C.
Lokmanya Multipurpose Co-Op Society Ltd Vs THE INCOME TAX DEPARTMENT
(2022) TaxCorp(LJ) 29855 (HC-KARNATAKA) · Section 276CC
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There is tax treaty existing between India and Switzerland, MAT provisions cannot apply where tax treaty is invoked as the provisions of Section 115JB are only subordinate to Section 90(2).
Credit Suisse AG Vs ACIT(IT)
(2022) TaxCorp(LJ) 29854 (ITAT-MUMBAI)
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The prevailing situation of arbitrary approach and breach of principles of natural justice may not only adversely affect the assessees but also may develop a perception amongst the people that it is difficult to get justice from the authorities in statutory proceedings.
Nabco Products Private Limited Vs Union Of India And 2 Others
(2022) TaxCorp(LJ) 29847 (HC-ALLAHABAD)
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The amendment to Section 36(1)(va) made by the Finance Act, 2021 with respect to disallowance of PF contribution deposited beyond the due date, cannot be presumed to be retrospective.
TV Today Network Ltd Vs PR. COMMISSIONER OF INCOME TAX -7
(2022) TaxCorp(LJ) 29846 (HC-DELHI) · Section 36(1)(va)
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No substantial question of law is involved in the impugned order.
Jubilant Foodworks Ltd Vs The Pr. Commissioner Of Income Tax
(2022) TaxCorp(LJ) 29841 (HC-ALLAHABAD)
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Mere fact of an Assessee’s offering an income to tax in an earlier year cannot be the reason enough to negate his otherwise lawful claim of non-taxability.
Michael Page International Recruitment Pvt Ltd Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29840 (ITAT-MUMBAI)
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Scrutiny assessment of VFSPL was completed without making any addition and was concluded even prior to the issuance of the notice under Section 148A(d) to the Assessee.
South Asian Stocks Limited Vs ASSISTANT COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 29839 (HC-DELHI)
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The report which forms the basis of opinion that Assessee has shown bogus purchases from bogus entities to suppress the profit and reduce the tax liability were not provided to the Assessee which violates the principles of natural justice.
Best Buildwell Private Limited Vs INCOME TAX OFFICER
(2022) TaxCorp(LJ) 29838 (HC-DELHI) · Section 148A(d)
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The penalty order under Section 271(1)(c) was passed on April 26, 2018, which is much beyond the period of limitation of six months from receipt of ITAT order by the authorities as prescribed under Section 275(1).
CFM Materials PL (earlier known as GE, Aviation Materials LP) Vs DCIT
(2022) TaxCorp(LJ) 29837 (ITAT-DELHI)
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Once the amount received by the assessee does not fall within the definition of FTS under section 9(1)(vii) of the Act, by default, section 44DD would not apply to such payment.
Technip France SAS Vs DCIT
(2022) TaxCorp(LJ) 29836 (ITAT-DELHI) · Section 44BB
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Merely expenses for construction of building incurred in cash alone cannot be ground to hold that those expenses are related to non-specific purpose even when Revenue did not dispute the construction of building.
Gokula Education Foundation – Medical Vs The Additional Director of Income Tax
(2022) TaxCorp(LJ) 29835 (ITAT-BANGALORE) · Section 11
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No TDS liability under Section 195 arose on payments made to University of Texas, USA for carrying out research activity.
Oil and Natural Gas Corporation Limited Vs Income Tax Officer-2
(2022) TaxCorp(LJ) 29829 (ITAT-AHMEDABAD)
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