Latest income tax case laws. Deputy Commissioner of Income Tax: 20/03/25: M/s.

Latest income tax case laws Crypto's New Tax Era: What The Income Tax Bill, 2025 Means for Cryptos and Digital Assets most reliable online source for research on Compute Income Tax IT Rates - Ready Reckoner; Income Tax Case Laws. All Acts & Rules; Chapter V - Finance Act, 1994; All Rules; Service Tax Rules, 1994; Valuation Rules May 28, 2021 · 1. , KARACHI THROUGH M. - Notification No. 50,000/- to Rs. Dec 5, 2023 · A bench of Shri Duvvuru Rl Reddy, Judicial Member & Shri S Balakrishnan, Accountant Member has relied on the judicial pronouncement in the case of Principal Commissioner of Income Tax vs. Income Tax Ordinance 1979) [since repealed] S. Agson Global (P) Ltd, and held that the cash sales made by the assessee deposited in the bank account are in accordance with law and hence the addition made Dec 29, 2021 · Why is the case important? This is the first case on the interaction between the protection of personal data afforded by the Personal Data Protection Act 2010 (PDPA) and the powers granted to the tax authority under the Income Tax Act 1967 (ITA) to request such personal data. JAIN, JUDICIAL MEMBER ITA NO. Sh. 6168/Del/2016 & CO No. Bhagwan Devi (D), through her LR. D. 1 under section 270 AA (4) of the Income Tax Act, 1961 rejecting the application filed by the Petitioner seeking immunity from imposition of penalty under section 270A of the Act for the Assessment Year 2018-19. 1783/Del. Dinesh Kumar Sharma: 20/03/25: Delhi Agricultural Marketing Board, through its Chairman Vs. ), the Hon'ble jurisdictional High Court has held that the basic principle is the same in law relating to income-tax as well as in civil law, namely, if there is no challenge to the transaction represented by the entries, then it is 24 ITA No. Mansukh Dyeing and Dec 29, 2022 · Accordingly, after 01 April, 2021, the Income Tax Act has to be read along with the substituted provisions. GST Realtime GST news and analysis of rulings from various authorities like NAA, AARs, High Courts, Supreme Court, etc along with detailed coverage of GST council meetings. 10(26AAB) of Income Tax Act: Delhi High Court. PANDA, ACCOUNTANT MEMBER ITA. The Delhi High Court in the case of Meenu Gupta vs Assistant Commissioner of Income Tax dealt with the validity of reassessment proceedings under Section 148 of the Income Tax Act initiated against a deceased assessee, Sh. M. and is there any necessity to show whether this system started before 30. While deciding the question as to whether reopening of a concluded Oct 31, 2022 · Assistant Commissioner of Income Tax (Exemptions) v. Sep 30, 2024 · He further relied on relevant case laws on this issue in particular Duraiswamy Kumaraswamy v. Apr 8, 2022 · High Court of Delhi was dealing with the petition filed challenging the impugned order dated 9 th March, 2022 passed by Respondent No. Jan 16, 2023 · 1) Held by the Hon’ble Gujarat High Court in the case of Ball Aerosol Packaging India (P. /2021 Assessment Year 2017-2018 Mr. Law: Income-Tax Act: Section(s): Section 2(24) , 36(1)(va), 43B of Income-tax Act,1961 : Counsel(s Bogus Purchase and Bogus Creditor Assessment on Assessee made u/s 143(3) for the Asst Year 2021-22. It explains how cases would be decided today and takes into account important recent Circulars on Income Tax Law, Wealth Tax Law from 1940 Circular Letters on Income Tax Law, Wealth Tax Law from 1963 Finance Acts/Ordinances and any other Act/Ordinance through which amendments are made Short/Head Notes with complete text of cases of Supreme Court, High Courts, FTO and Appellate Tribunal on Income/Wealth Tax Law from 1947 Jan 3, 2024 · This Annual Digest of Supreme Court Cases analytically summarizes all Income Tax and Indirect Tax related cases heard by the Apex Court reported at taxscan. Whether the order passed under Section 147 of the Income Tax Act, 1961, was valid. com 74 (Karnataka)where assessee sold a property on 6-10-2008 and purchased another residential plot on 13-10-2008 and commenced construction, which was not completed within three years, and Oct 7, 2023 · Assessee is trader of the steel and also registered under the GSt. The old reassessment provisions, as they stood prior to the Finance Act, 2021, required the Assessing Officer to have ‘reason to believe’ that the income has escaped assessment. TC Case No 11641 : Additional tax is a penalty of an administrative nature which cannot be equated with a fine imposed by a criminal court: sections 75(1)(a) and 76(1)(a) of the Income Tax Act, 1962 (11641) [2006] ZATC 6; 70 SATC 68 (4 December 2006) May 2006 Dec 28, 2024 · In this case, a bench comprising Justices BR Gavai and KV Viswanathan quashed a criminal case registered against HDFC Bank Ltd. 43. Chapter XXB provides for the requirement as to the mode of acceptance, payment or repayment in certain cases to counteract evasion of tax. The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts. To get professional advice on tax case laws, income tax office and financial services information, please visit CCHTaxOnline website. Minto Road, New Delhi Jan 13, 2025 · new income tax notices to property buyers; new rules for income tax refund ay 2025-26; new change in gstr 3b & gstr 1 from april 2025 1; advisory on table-12 of gstr-1 or gstr-1a; advisory on reporting values in table 3. M/s Fish Poultry and Egg Marketing May 4, 2022 · Section 147 provides that if any income chargeable to tax, in the case of an assessee, has escaped assessment for any assessment year, the Assessing Officer may, subject to the provisions of sections 148 to 153, assess or reassess such income or recompute the loss or the depreciation allowance or any other allowance or deduction for such Mar 22, 2023 · Income Tax Act, 1962: Income tax: section 30; whether the Appellant was entitled to be deemed to be a PBO: 23 April 2021: 13395: Income Tax Act, 1962: Income tax: whether the appellant was liable for capital gains tax: 31 March 2021: IT 13178: Income Tax Act, 1962: Income tax: whether the appellant should be taxed on unexplained deposits in its 5 This Tax Appeal under Section 260A of the Income Tax Act, 1961 (for short, 'the Act, 1961'] is at the instance of the assessee and is directed against the order passed by the Income Tax Appellate Tribunal, Ahmedabad Bench 'A'', Ahmedabad dated 15th December 2006 in the ITA Page 2 of 28 Downloaded on : Mon Jun 15 13:03:55 IST 2020 C/TAXAP/1625 Sep 25, 2011 · The new scheme essentially makes the dividend tax-free (section 10(33) of the Act) in the hands of the recipient (except cases covered under section 2(22(e)of the Act) and the dividend paying company has been made liable to pay tax on the amount of dividend declared , distributed or paid by it (Section 115-O of the Act). is depreciation claimable @ 80%. 69% declared by the assessee, despite the fact that the CIT (Appeals) had specifically gone into that question in its order dated 18th August, 2015 and had directed the May 18, 2022 · Address 59/32, New Rohtak Road, New Delhi – 110005 Phone : 011-45562222 Fax : 011-45577111 Email : sales@taxmann. Clear Library. [ 1996 (12) TMI Dec 30, 2022 · Section 45(4) of Income Tax Act applicable to cases of subsisting partners of a partnership transferring the assets in favour of a retiring partner. Introduction: – Various High Courts had quashed reassessment notices issued u/s 148 of the act, on the ground that the same are bad in law in view of the new reassessment procedure, against such orders the Revenue had preferred an appeal before The Hon. Muhammad Farooq v. Amitbhai Gunvantbhai [1981] 129 ITR 573 (Gut. Mar 17, 2021 · Karan Khurana , Delhi vs Ito, Ward- 48(2), New Delhi on 17 March, 2021 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES "C" : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI B. Understand legal precedents and navigate tax law confidently. 115JB of the Income Tax Act [Act Apr 2, 2025 · Australian taxation law cases 2023 : a guide to the leading cases for business, commerce and law students by Kerrie Sadiq The 2023 edition of Australian Taxation Law Cases is a feature-packed resource that includes key new cases and revisions of the commentary. Latest Income Tax Judgements. Mumbai Tribunal : S. ABCAUS Case Law Citation: ABCAUS 2093 (2017) (10) SC. Books of accounts are audited U/SEc. e. Supreme Court Validates Section 148 Notices issued after 31st March 2021. 80-C Contract Act 1872, S. Kuldeep singh v. Commissioner Of Income Tax, Kottayam . Aug 6, 2022 · resident and according to the laws of that State, but if the recipient is the beneficial owner of the dividends the tax so charged shall not exceed… •Article 11(4)- Interest arising in a Contracting State shall be exempt from tax in that Contracting State to the extent approved by the Government Mar 31, 2021 · By CA Milind Wadhwani. Oct 14, 2022 · This judgement thus sets at rest, the entire controversy ,though it will now lead to several cases of revision, reassessment as probably there will be notices u/s 148 /263 in respect of already concluded assessments. All cases of Supreme Court, High Courts & Tribunals in India updated almost daily. The ruling clarifies the validity of reassessment notices and affects cases from multiple assessment years (AY), specifically from 2013-14 to 2017-18. Snehasis Nanda: 20/03/25: Chandra Shekhar Singh Vs. During this term, some important tax decisions were handed down. M/s New Noble Educational Society Vs. Jul 30, 2021 · On June 30, 2021, the U. Facts of the Case: Oct 4, 2024 · Union of India & Ors. Taxable amount of purchase of Rs. Our Clear Library provides all the necessary direct and indirect tax-related data. KANT, ACCOUNTANT MEMBER [Through Video Conferencing] ITA No. American Hotel and Lodging Association v. THE COMMISSIONER OF INCOME TAX, COMPANIES ZONE-II, NEW INCOME TAX BUILDING, SHAHRAH-E-KAMAL ATTATURK, KARACHI AND ANOTHER VS MESSRS PAK SAUDI FERTILIZERS LTD. CIT Oct 3, 2024 · The Supreme Court has ruled in favor of the tax department, stating that after April 1, 2021, the Income Tax Act must be read with its new provisions. 20. ho@itat. E. nic. L. Jan 26, 2024 · As I write this missive, we have entered the year 2024, which marks a new beginning for everyone. All Acts & Rules; Chapter V - Finance Act, 1994; All Mar 20, 2020 · Understanding Allowability of Business Expenditure under section 37 of the Income Tax Act, 1961 with latest case laws. TOLA will continue to apply to the Income Tax Act after 01 April, 2021, if any action or proceeding specified under the substituted provisions of the Income Tax Act falls for completion between 20-03-2020 and 31-03-2021. 01. Commissioner of Income Tax, 2023 LiveLaw (SC) 246. Supreme Court. f. 229(Del)2011 Assessment year: 2001-02 Asstt. We have set up the solar system on the terrace of the bussiness premises and is owned by company. Stay informed with these key legal insights. Tax and industry professionals have been waiting for the Federal Court of Appeal (the “FCA”) to issue its decision in Glencore Canada Corporation v R for several months. May 9, 2022 · 4. Some of the income tax latest case laws and latest income tax judgements in India delivered by the Indian judiciary of Tribunal in this year 2019 are compiled and curated by our team as follows. 8,33,087/- which was deemed unexplained income under Section 69A of the Income Tax Act, 1961. In the assessment proceedings for A. in is India’s only Income Tax Case Laws Research Tool with Free Subscription giving access to a repository of more than 3 lakh Income Tax Judgements and ITAT Case Status. R KUMAR, ACCOUNTANT MEMBER ITA. Feb 4, 2024 · Case Title: Commissioner Of Income Tax Versus M/S Indo Rama Textiles Ltd. Section 143 of the Income-tax Act, 1961 – Assessment – Additions to income Designed and developed by Income Tax Appellate Tribunal, Department of Legal Affairs, Ministry of Law & Justice, Government of India. sfnrramn zupuvfl bqgjaou pxh wvbueeb vees jpsed acjkh krgeem acejic muoco sxgrsurh jcl ddfwl dcms