Taxcharcha

Category : Recent Case Laws

Income TaxRecent Case Laws

Even if no activity has been carried out by the assessee-society towards its objects, it would not make the assessee-society disentitle for approval under section 80G of the I.T. Act. – ITAT Delhi

Team Taxcharcha
by Team Taxcharcha0413
    [docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/04/ITAT-Delhi-04.04.2019-2.odt” comments=”true” SVG=”true”] To Download, Kedar Educational Society. Vs The CIT (Exemption), Chandigarh. ITA No. 7708/Del/2018...
Income TaxRecent Case Laws

Where the notice issued by the CIT(A) was not served on the assessee and the CIT(A) passed the order ex-parte on the non appearance of the assessee. The same remanded back to the CIT(A) – ITAT Delhi

Team Taxcharcha
by Team Taxcharcha0422
Facts of the case : Notice of hearing was sent to the assessee on 02.08.2018 by Speed Post. However, the same was returned back with...
Income TaxRecent Case Laws

That the disallowance u/s 14A read with Rule 8D cannot exceed the actual exempt income received by the assessee during the year. We, therefore, set aside the order of the CIT(A) and direct the Assessing Officer – ITAT Delhi

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by Team Taxcharcha0674
    [docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/ITAT-Delhi-28.03_03-1.odt” comments=”true” SVG=”true”]   To Download, Mahagun India pvt. Ltd...
Income TaxRecent Case Laws

As the assessee is regularly following the accounting practice of making provision on year to year basis on the basis of the performance of the employees and the same is definite and accured liability of the assessee for the year for which the services have been rendered by the employees and the same partakes the character of the salary and hence cannot be disallowed. – ITAT Delhi

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by Team Taxcharcha0419
    [docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/ITAT-Delhi-28.03_03.odt” comments=”true” SVG=”true”]   To Download, TV Today Network Limited...
Income TaxRecent Case Laws

The provisions of Section 142(2C) did not preclude the exercise of jurisdiction and authority by the assessing officer to extend time for the submission of the audit report directed under sub-section (2A), without an application by the assessee. We hold and declare that the amendment was intended to remove an ambiguity and is clarificatory in nature – Supreme Court

Team Taxcharcha
by Team Taxcharcha0552
    [docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/Supreme-Court.odt” comments=”true” SVG=”true”] To Download, Commissioner of Income-tax, New Delhi) vs Ram Kishan Dass Civil Appeal Nos. 3211 to 3230 of 2019...
Income TaxRecent Case Laws

It is an undisputed fact that during the year the assessee did not earn any exempt income. The Hon’ble High Court of Delhi in the case of CHEM Invest Pvt. Ltd. Vs. CIT (supra) has clearly held that if there is no exempt income no disallowance can be made.- ITAT Delhi

Team Taxcharcha
by Team Taxcharcha0372
    [docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/ITAT-Delhi-23.03_03-1.odt” comments=”true” SVG=”true”]   To Download the complete order, 387 Del 2018...
Income TaxRecent Case Laws

It is irrelevant whether the assessee is a public sector undertaking. Unless specifically provided under law or intended by necessary implication under specific provisions of law, or held in binding judicial precedents; a public sector undertaking cannot legitimately claim a preferential treatment in determination of its tax liabilities.- ITAT Delhi

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by Team Taxcharcha0344
      [docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/ITAT-Delhi-23.03_03.odt” comments=”true” SVG=”true”]...
Income TaxRecent Case Laws

Where the Ld. CIT(A) passed the order exparte due to non appearance by the assessee, the assessee is given one final opportunity of being heard and in case of adjournment, the CIT(A) can pass any order which e may deem fit under law. – ITAT Delhi

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by Team Taxcharcha0659
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI BEFORE SH. R.K PANDA, ACCOUNTANT MEMBER AND SH. KULDIP SINGH, JUDICIAL MEMBER ITANo.1757/Del/2019 AssessmentYear:2015-16...
Income TaxRecent Case Laws

Where the assessing officer made certain additions on the basis of the information provided by DGIT (Inv.) , Mumbai, the same holds valid- ITAT Mumbai

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by Team Taxcharcha0339
    [docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/ITAT-Mumbai.odt” comments=”true” SVG=”true”] Since the information is provided by the DGIT(Inv) , Mumbai and the proceedings of escapement of income initiated on...
Income TaxRecent Case Laws

That the salary paid in the year of operation for the period before the commencement of the operation should not be disallowed- ITAT Delhi

Team Taxcharcha
by Team Taxcharcha0499
    [docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/ITAT-Delhi-2.odt” comments=”true” SVG=”true”] Since, the assessee is providing health care services before the commencement of its super speciality hospital “Medanta”, the salary...
G.S.TRecent Case Laws

“Reasons to Believe” in GST and what procedure followed during the search was illegal – High Court of Allahabad

Team Taxcharcha
by Team Taxcharcha01610
    [docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/Reason-to-belive-in-CGST.odt” comments=”true” SVG=”true”] To Download the order of High Court, WTAX(A)_619_2018...
Income TaxRecent Case Laws

When the assessee company stands dissolved as defunct company u/s 560(5) of the Companies Act, 1956 (section 248(2) of the Companies Act, 2013) that doesn’t mean that income tax proceedings and appeals become infructuous. – Supreme Court of India

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by Team Taxcharcha0612
    [docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/Defunct-Company-1.odt” comments=”true” SVG=”true”] To download, High Court of Rajasthan at Jaipur- Gopal Shri Scrips Pvt Ltd. Supreme Court of India _ Gopal...
G.S.TRecent Case Laws

The Long duration post graduate programs offered by Indian Institute of Management, Bangalore will be exempt from GST under Si. no. 66 of the Notification No. 12/2017 CT(R) – AAR Karnataka

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by Team Taxcharcha0403
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/AAR-Karnataka.odt” comments=”true” SVG=”true”] To download order, The Karnataka Appellate Authority for Advance Ruling – IIMB The Authority on Advance Rulings – Karnataka – IIMB...
Income TaxRecent Case Laws

Merely because assessee company had filed all primary evidence, it could not be said that onus on assessee company to establish the credit worthiness of investor companies stood discharge. Assessing Officer was justified in passing assessment order making additions under section 68 for share capital/share premium received by assessee company – SC

Team Taxcharcha
by Team Taxcharcha0491
Held:  The Court/Authorities below did not even advert to the field enquiry conducted by the AO which revealed that in several cases the investor companies...
Income TaxIncome TaxIncome TaxLatestRecent Case LawsTaxUncategorized

The Reopening of assessment is an entirely independent and vastly different jurisdiction and cannot be confused with the revisional powers of the higher authority – Bombay High Court

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by Team Taxcharcha0911
The Bombay High Court in its recent judgement in the case of Saurabh Suryakant Mehta WRIT PETITION NO.3495 OF 2018 stated that “the reopening of assessment...
Income TaxIncome TaxIncome TaxLatestLawNewsRecent Case LawsTax

The assessee can be taxed only on the gain which is oozing out from the sale consideration, thus, no adverse inference can be drawn while invoking the provision of section 50C of the Act. – Bombay High Court

Team Taxcharcha
by Team Taxcharcha0532
Held :  “The assessee can be taxed only on the gain which is oozing out from the sale consideration, thus, no adverse inference can be...
Income TaxIncome TaxLawRecent Case LawsTax

In terms of section 194A(1), The time of deduction of tax u/s 194A(1) is undisputedly time at which interest is to be credited to account of payee or when it is paid in cash/cheque or draft therefore, deduction of tax at source on interest income before close of financial year concerned as provided under section 194A(4) would not obligate assessee bank from penalty for not deducting tax at source at time of credit of said income in payee’s account – HC Allahabad

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by Team Taxcharcha0747
Held :  Deduction of tax at source on interest income before close of the financial year concerned as provided under Section 194 A (4) of...
Income TaxIncome TaxIncome TaxLatestRecent Case Laws

HC wrong in taking the technical view of dismissing the appeal on the ground of delay when it has to decide the question of law between the parties in any case in respect of earlier assessment year – Supreme Court

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by Team Taxcharcha0452
Held :  The High Court should not have taken such a technical view of dismissing the appeal in the instant case on the ground of delay,...
Income TaxIncome TaxIncome TaxLatestRecent Case LawsTax

The exemption of Rs. 50 lakh in s. 194-IA(2) is applicable w.r.t. the amount related to each transferee and not with reference to the amount as per sale deed. Each transferee is a separate income tax entity and the law has to be applied with reference to each transferee as an individual transferee / person – ITAT Delhi

Team Taxcharcha
by Team Taxcharcha0747
ITAT Delhi in the judgement of Vinod Soni Vs. ITO TDS Faridabad in ITA No. 2736/Del/2015  held the following: Section 194-IA(2) provides that Section 194-IA(1)...