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Delhi High Court granted the Indian National Congress the opportunity to pursue its case further by filing a fresh stay application, while also providing important clarifications regarding the interpretation of relevant guidelines and the discretion of the authorities in such matters.
The Constitutional Courts would not interfere with a view expressed on interpretation unless it appears to be grossly inappropriate and outlandish.
After examining the expenses payable and the detailed order of the CIT,the ITAT held that the CIT has correctly examined the invoices, period and purpose for the expenses which have not been paid for the last six years
Know about why NGT formed Joint Committee for environmental norms violations in constructions at CM Kejriwal’s residence, relevancy of intent of Corporate Debtor, threshold limit under IBC Code, compensation in Ludhiana Gas Leak incident, etc.
The Supreme Court asserted that it was always open for the High Court to consider and examine whether the Arm’s Length Price had been determined while taking into consideration the relevant guidelines under the Act and the Rules.
The Supreme Court stated that the erroneous assessment order had resulted in loss of the Revenue in the form of tax. Thus, the High Court had committed a very serious error in setting aside the order passed by the Commissioner passed in exercise of powers under Section 263 of the Income Tax Act.
Find interesting rulings by NCLT, NCLAT, RBI, ITAT, SEBI, NCDRC covering legal stories on FTS under India Netherlands DTAA, reconsideration of approved resolution plan in insolvency proceedings, definition of financial debt, compensation against doctor’s legal obligations, and much more.
Supreme Court noted that the ‘interest' only follows the ‘principal', therefore, the ‘principal' being the payable tax, resulted into no liability to pay the tax along with return. Consequently, held that there is no liability to pay interest if there was no liability to pay the tax.
Bombay High Court: In the present appeal filed under Section 260-A of the Income Tax Act, 1961 preferred against the
The bench of MR Shah and M.M Sundresh, JJ explained the importance of the words “or otherwise” inserted to Section 45(4) of the Income Tax Act, 1961 by the Finance Act, 1987
“A judicial remedy must be effective, independent and at the same time certain. Certainty of forum would involve unequivocal vesting of jurisdiction to adjudicate and determine the dispute in a named forum.”
Madras High Court: G. Chandrasekharan, J. declined to quash prosecution against actor SJ Suryah as the order of the Income Tax Appellate
Income Tax Appellate Tribunal (ITAT): The Bench of Inturi Rama Rao (Accountant Member) and Partha Sarathi Chaudhary (Judicial Member), decided whether registration
Delhi High Court: A Division Bench of S. Muralidhar and Talwant Singh, JJ. dismissed an appeal filed by the Revenue against the order
Gujarat High Court: A Division Bench of J.B. Pardiwala and A.C. Rao, JJ. dismissed a tax appeal filed under Section 260-A of
Punjab and Haryana High Court: This order disposed of five appeals filed by revenue under Section 260-A of Income Tax Act, 1961
Income Tax Appellate Tribunal, Kolkata: Explaining the legislative intent behind Section 50 C of the Income Tax Act, 1961, it was held