Delhi High Court
Case BriefsHigh Courts

It is wholly insufficient to proceed to make an addition on the basis that CBIC is an apex body and information provided by it cannot be doubted, without even analyzing such information.

Income Tax on Compulsory Acquisition
Op EdsOP. ED.

by Somesh Jain*

Annul Property Transfers
Experts CornerTarun Jain (Tax Practitioner)

by Tarun Jain†

Relaxation on tax deductions
Legislation UpdatesNotifications

The provisions will come into force on 1-4-2024.

Karnataka High Court
Case BriefsHigh Courts

The High Court cautioned that if consideration of such artificial deductions is allowed, then in every petition under Section 125 of CrPC there would be tendency by the husband to show lesser salary with an intention to mislead the Courts so as to avoid giving maintenance.

delhi high court
Case BriefsHigh Courts

“Once it is concluded that a live telecast will not fall within the ambit of the expression “work”, it will be wholly erroneous to hold that the income derived by the assessee in respect of “live feed” will fall within clause (v) of Explanation 2 to Section 9(1)(vi) of the Income Tax Act, 1961.”

tax assessments to central circle
Hot Off The PressNews

“Earlier, the Bench had verbally observed that central assessment may be necessary if there were cross transactions between individuals.”

2023 SCC Vol. 10 Part 1
Cases ReportedSCC Weekly

Corporate Laws — Company Law — Winding up and Liquidation — Overriding preferential payments: Dues towards customs duty i.e. government dues falling

patna high court
Case BriefsHigh Courts

“The Appellate Authority had allowed the appeal in the case of a different assessee, who had been carrying on the very same work of solid waste disposal in the very same Municipality.”

bombay high court
Case BriefsHigh Courts

The case of the petitioner is quite elementary, and we are constrained to observe the complete apathy and negligent approach of the assessing officer concerned in discharging his duties, by the provisions of the Income Tax Act, 1961.

delhi high court
Case BriefsHigh Courts

As per an additional affidavit submitted, the CBDT has provided the way, in the past and future, pending appeals are to be dealt with and disposed of expeditiously as well as a road map to dispose of pending appeals.

justice alok aradhe
Know thy Judge

Justice Alok Aradhe was sworn in as Chief Justice of Telangana High Court on 23-07-2023 by the Governor Tamilisai Soundararajan. He succeeded Justice Ujjal Bhuyan who has been elevated as a Judge in the Supreme Court of India. Justice Aradhe has formerly served as Judge in Karnataka, Jammu and Kashmir and Madhya Pradesh High Courts.

delhi high court
Case BriefsHigh Courts

Section 127 of IT Act to the extent it permits transfer from one Assessing Officer under a Principal Commissioner of Income Tax to another Assessing Officer under another Principal Commissioner of Income Tax who are holding non-concurrent charges remains untouched and continues to apply in its pristine form.

ministry of finance
Legislation UpdatesRules & Regulations

On 21-6-2023, the Ministry of Finance notified the Income-tax (Tenth Amendment) Rules, 2023 to amend the Income-tax Rules, 1962. Key Points: Rule

Income Tax Appellate Tribunal (ITAT)
Case BriefsTribunals/Commissions/Regulatory Bodies

It is a well-accepted principal of tax jurisprudence that the Assessing Officer cannot sit on the armchair of a businessman assessee to replace his business strategy by his own whims and fancies

ministry of finance
Legislation UpdatesNotifications

On 29-5-2023, the Ministry of Finance notified the e-Appeals Scheme, 2023 to reduce pendency of appeals related to Tax Deducted at Source

Income Tax Appellate Tribunal (ITAT)
Case BriefsTribunals/Commissions/Regulatory Bodies

ITAT said that the entire addition has been made by the AO as well as CIT based on guess work and estimation based on some alleged information received from Sales Tax Department of Maharashtra and from DGIT that “the assessee has taken bogus purchase bills without having taken any delivery of the goods”, without applying their mind.

reopening of income tax assessment
Case BriefsSupreme Court

The Revenue had submitted that the Assessing Officer is competent to consider all the material that is available on record, including that found during the search, and make an assessment of ‘total income’. While some of the High Courts agreed with the said proposition, some disagreed. The Supreme Court was, hence, called upon to resolve the conundrum.

Section 153-C of Income Tax Act
Case BriefsSupreme Court

The amendment in Section 153-C of the Income Tax, 1961 was brought and the words “belongs or belong to” were substituted by the words “pertains or pertain to” after a ruling by Delhi High Court in Pepsico India Holdings Private Limited v. ACIT, 2014 SCC OnLine Del 4155.

Income Tax Appellate Tribunal (ITAT)
Case BriefsTribunals/Commissions/Regulatory Bodies

It is a trite law that the reasons, as recorded for reopening the reassessment, are to be examined on a standalone basis to determine the validity of proceedings under section 147 IT Act.