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
Income Tax
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
Explained| Can ITAT recall an order while exercising powers under Section 254(2) of the Income Tax Act?
Supreme Court: Explaining the scope of jurisdiction of ITAT, the bench of MR Shah* and BV Nagarathna, JJ has held that the
Tribunals/Regulatory Bodies/Commissions Monthly Roundup | November 2021
Here’s a run-through of all the significant decisions covered in the month of November 2021 under the Section of Tribunals/Commissions/Regulatory Bodies.
‘Power’ of conducting IPL is vitally distinct from ‘Object’ of BCCI: ITAT explains substantive law, allows BCCI to continue registration under S. 12-A of Income Tax Act to avail tax exemption benefits
Income Tax Appellate Tribunal (ITAT), Mumbai: A two-Member Bench of Pramod Kumar (Vice President) and Ravish Sood (Judicial Member) allowed the Board
Judicial Slugfest on Applicability of New Provisions for Reopening of Assessments under Income Tax Law: An Overview
by Tarun Jain†
Cite as: 2021 SCC OnLine Blog Exp 84
Will hostel facility which is incidental to providing education as per object of assessee be a charitable purpose exempted under S. 11 of Income Tax Act? ITAT answers
Income Tax Appellate Tribunal (ITAT): Coram of Anil Chaturvedi (Accountant Member) and Suchitra Kamble (Judicial Member) allowed the appeal filed by the
Explained| Section 263 of Income Tax Act: Date of order or receipt of order – When does the limitation clock starts ticking?
Supreme Court: Interpreting Section 263(2) of the Income Tax Act, 1961, the bench of MR Shah* and AS Bopanna, JJ has held that receipt
CBDT notifies Income Tax (31st Amendment) Rules, 2021
The Central Board of Direct Taxes notified the Income Tax (31st Amendment) Rules, 2021 which seeks to further amend Income Tax Rules,
Supreme Court emphasises on Simplification of Tax Law
by Tarun Jain†
Cite as: 2021 SCC OnLine Blog Exp 72
Income-tax (30th Amendment) Rules, 2021
The Central Board of Direct Taxes has notified the Income-tax (30th Amendment) Rules, 2021 vide notification dated 24th September, 2021. The amendment
Extension of timelines under the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
On September 17, 2021, the Central Government extends timelines under the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act,
Income-tax (29th Amendment) Rules, 2021
On September 13, 2021, the Central Board of Direct Taxes notifies Income-tax (29th Amendment) Rules, 2021 to amend Income-tax Rules, 1962. The
Income tax (28th Amendment) Rules, 2021
The Ministry of Finance has issued the Income tax (28th Amendment) Rules, 2021 on September 10, 2021, to further amend the Income-tax
Interest free funds not kept in separate account. Can proportionate disallowance on interest under Section 14A of IT Act be allowed? SC explains
“… in taxation regime, there is no room for presumption and nothing can be taken to be implied.”