Can mere rejection of the claim by Assessing Officer, make assessee liable for penalty? ITAT explains
Income Tax Appellate Tribunal, Delhi (ITAT): Addressing the issue, of whether mere rejection of the claim by an Assessing Officer would ipso
Income Tax
Weekly Rewind Ep. 59| Anganwadi workers; Absorption of temporary LIC employees; Ban on two finger test; Amendment to Income Tax Act and more
TOP STORY OF THE WEEK Anganwadi Workers/Helpers entitled to payment of gratuity; ‘Time to take serious note of their plight’ In a
Over 90, 000 Reassessment Notices issued after April 1, 2021 saved as Supreme Court directs them to be treated as notices under Section 148A of Income Tax Act
Supreme Court: The bench of MR Shah* and BV Nagarathna, JJ has modified the order passed by the Allahabad High Court wherein
Supreme Court April 2022 Roundup: Anganwadi Workers’ right to gratuity; Regulation of Foreign donations; Lakhimpur Kheri violence case; and more
Most Read story of the Month Producing false/fake certificate is a grave misconduct; Dismissal of service justified in such cases “The question
Whether expenditure incurred on replacements of old truck bodies will be treated as revenue expenditure? ITAT answers
Income Tax Appellate Tribunal, Kolkata: The Bench of Sonjoy Sarma (Judicial member) and Rajesh Kumar (Accountant Member) held that the expenditure incurred
Whether gift received from HUF to any member of HUF is exempt from taxable income? ITAT Explains
Income Tax Appellate Tribunal, Chandigarh (ITAT): The Coram of Sanjay Garg (Judicial Member) and Annapurna Gupta (Accountant Member) examined the issue as
Income Tax| If such orders continued to be passed, we will impose substantial costs on Assessing Officer which will be recovered from his/her salary: Read why SC stayed Bombay HC’s order
Supreme Court: The Division Bench comprising of M.R. Shah and B.V. Nagarathna, JJ., stayed the impugned order of Bombay High Court wherein
Amalgamation does not necessarily nullify tax assessment as only the outer shell of the amalgamating company gets destroyed but the business and the adventure lives on: SC
It is essential to look beyond the mere concept of destruction of corporate entity which brings to an end or terminates any assessment proceedings.
Declaration under the Income Declaration Scheme cannot lead to non-declarant’s immunity from taxation: SC
Supreme Court: The bench of UU Lalit and S. Ravindra Bhat*, JJ has held that the declaration under the Income Declaration Scheme
Is amount spent by pharmaceutical companies in gifting freebies to the doctors “business expenditure” under IT Act when act of accepting freebies by doctors is an offence? SC answers
“…the statutory regime requiring that a thing be done in a certain manner, also implies (even in the absence of any express terms), that the other forms of doing it are impermissible.”
Notice to a dead person under S. 148 of Income Tax Act cannot be issued: Bom HC
Bombay High Court: The Division Bench of K.R. Shriram and N.J. Jamdar, JJ., reiterated that notice under Section 148 of the Income
24 Reports to Read: Ola & Google’s Dominant Position, Service Charge, Medical Negligence, War Injury Pension and more | Tribunals and Commissions Roundup of January 2022
Appellate Tribunal for Electricity (APTEL) State commission disallows benefit of increase in the tariff based on the change in law provision; Tribunal
State ‘exclusivity’ for disallowance of certain fee, charge, etc. is to be viewed from the nature, not the number of undertakings on which the levy is imposed: SC
Supreme Court: The Division Bench of R. Subhash Reddy* and Hrishikesh Roy, JJ., held that to determine State Monopoly for disallowance of
10 Legal Stories of the week: From High Courts, District Courts to Tribunals
Here are some of the interesting Legal Stories from Week 4 of January 2022 Bishop Franco Mulakkal; A victim of faction feud
Can merely disowning bank accounts exempt assessee from paying tax? Read why ITAT approved addition of Rs 12.81 Crores under S.68 of Income Tax Act
Income Tax Appellate Tribunal (ITAT), New Delhi: Stating that, “Urgent needs invite urgent action”, Amit Shukla, Judicial Member and Dr B.R.R. Kumar,
If lessee is not actual owner of property, can actual rental expenses be claimed on return of income? ITAT decides
Income Tax Appellate Tribunal, Bangalore Benches (ITAT): The Bench of Chandra Poojari, AM and George George K, JM while partly allowing an
Life cannot be breathed into the stillborn charge memorandum; SC holds where prior approval is the rule the defect cannot be cured by post-facto approval
“What is non-existent in the eye of the law cannot be revived retrospectively.”
Dishonour of Cheque | Is it mandatory for trial court to award interim compensation under S. 143-A NI Act on mere invocation thereof? Del HC decides whether S. 143-A is directory or mandatory?
Delhi High Court: Anu Malhotra, J., held that the provision of Section 143A of the NI Act, 1881 is directory in nature
If a person willfully attempts to evade tax, he can be prosecuted under S. 276C(1) of the Income Tax Act: Bom HC
Bombay High Court: The Division Bench of K.R. Shriram and Amit B. Borkar, JJ., discussed when a person can be prosecuted under