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Section - 10 (of Income Tax Act, 1961), Incomes not included in total income
Incomes not included in total income.
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The fact that the Revenue has not obtained any information per se cannot be a g…
Held DCIT while passing the impugned order has not dealt with such aspect and has rejected the application on its merits. In the present proceedings, wherein the Assessee has sought for setting aside of the impugned order, submission is made by t…
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Jitender Kumar, Adv. for the Petitioner. Sanjay Kumar, Easha Kadian, Adv. for t…
Jitender Kumar, Adv. for the Petitioner. Sanjay Kumar, Easha Kadian, Adv. for the Respondent.
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Search and seizure—Assessment in case of search— It is case of appellant that a…
Held Both ITAT as well as the CIT(A) have placed reliance on and upheld the adoption of the Accounting Standard AS-7 by the assessee for determination of its revenue. Appellant does not deny that incase the case of the Revenue is to be accepted, …
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Yuvraj Singh with Chetan Kumar Shukla, Advocates for the Petitioner. Zoheb Hoss…
Yuvraj Singh with Chetan Kumar Shukla, Advocates for the Petitioner. Zoheb Hossain for the Revenue.
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Addition u/s 153C is not sustainable where on perusal of the seized document it…
Held ITAT in its impugned order has concluded that there was no corroborative evidence or statement to prove that the payment had been received by the assessee other than cheque amount as entered in the sale agreement. The Tribunal had observed t…
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Section 240 of the Act embodies the salutary principle of right of the assessee…
Held Assessee prior to the filing of the present writ petition had made a request to Revenue vide application requesting thereby to Revenue to grant refund of income tax due for the assessment years 1996-97 to 2016-17. However, the said applicati…
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Kavita Jha, Advocate for the Petitioner. Shailendra Singh, Advocate for the Res…
Kavita Jha, Advocate for the Petitioner. Shailendra Singh, Advocate for the Respondent.
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When provisions of Act are more beneficial to assesse, the Act will prevail ove…
Held In order to qualify as royalty payment, it is necessary to establish that there is transfer of all or any rights (including the granting of any licence) in respect of copyright of a literary, artistic or scientific work. In order to treat th…
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Madras High Court Allows Accused to Skip Most Hearings in Cheating Case
This case involves V. Maiyappan (the petitioner/accused) seeking to quash criminal proceedings against him in a case of alleged cheating and conspiracy related to the misappropriation of company funds. The Madurai Bench of the Madras High Court decl…
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Court rules that withholding tax on dividends for Dutch companies in India shou…
In the case of Concentrix Services Netherlands B.V. & Anr. vs. Income Tax Officer (TDS) & Anr., the court addressed a dispute over the withholding tax rate on dividends paid from Indian companies to Dutch companies. The main issue was whether the ta…
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High Court upholds taxpayer’s win: Section 50C wrongly applied when total sale …
This case involves a dispute between the Principal Commissioner of Income Tax and Shailja Pasricha over the application of Section 50C of the Income Tax Act. The tax department tried to add Rs. 9.6 crores to Ms. Pasricha’s income, claiming she shoul…
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Court rejects tax addition based on third-party documents without proper eviden…
Income Tax,Jun. 26, 2022This case involves a tax dispute where the Income Tax Department tried to add Rs. 4 crores to Ganesh Plantation Ltd.'s income based on documents seized from a completely different company (Venus Group). The tax authorities claimed this was “unexplained cash credit” under Section 68 of the Income Tax Act. However, both the appellate authorities and the High Court rejected this addition, finding that the tax department failed to establish any credibl…
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Tax dept loses appeal on penny stock scam due to retrospective circular interpr…
Income Tax,Jun. 26, 2022This case involves the Principal Commissioner of Income Tax challenging a decision by the Income Tax Appellate Tribunal (ITAT). The tax department wanted to pursue an appeal against Denisha Rajendra Keshwani regarding alleged bogus Long Term Capital Gains (LTCG) from penny stocks, but the ITAT dismissed their appeal due to low tax effect (below the monetary threshold). The department argued that a later CBDT circular should allow them to proceed re…
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Court quashes tax assessments for giving charity only 48 hours to respond
Income Tax,Jun. 26, 2022This case involves a charitable society called Sree Narayana Dharma Sabha Sreyas that got into trouble with the Income Tax Department. The charity filed returns showing zero income for two years (2015-16 and 2016-17), claiming all their income went to charitable purposes. However, the tax department reopened their assessments and gave them extremely short notice periods (just 48 hours) to respond to show cause notices. When the charity couldn’t res…
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Court rules Section 80AB can’t limit tax deductions under Sections 80I & 80HH
Income Tax,Jun. 26, 2022This case involved Win Laboratories Ltd. challenging a tax tribunal’s decision that required them to set off losses from one division against profits from another before claiming tax deductions. The High Court sided with the company, ruling that Section 80AB of the Income Tax Act cannot be used to curtail the width of deduction provisions like Sections 80I and 80HH, following Supreme Court precedent.
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Court Upholds TPO Reference in Limited Scrutiny: No Overreach Found
Income Tax,Jun. 11, 2021This case involves M/s. Transsys Solutions Private Limited challenging the Income Tax Department’s decision to refer their case to the Transfer Pricing Officer (TPO) for determining the Arm’s Length Price (ALP) of international transactions, even though their case was selected for “limited scrutiny.” The High Court ultimately sided with the tax authorities, holding that the reference to the TPO was valid and within the law, dismissing the company’s…
No Retrospective Effect: Amendments to Society Bye-laws Only Apply Prospectivel…
This case is about whether amendments made to the bye-laws of a society can be applied retrospectively when granting registration under Section 12AA of the Income Tax Act. The High Court decided that such amendments only take effect from the date they are made, not from an earlier date, and set aside the Tribunal’s order that had allowed retrospective registration.
Income Tax,Jun. 11, 2021-
Same Income Can’t Be Taxed Twice: Court Nixes Double Tax on Undisclosed Swiss A…
Income Tax,Jun. 11, 2021This case revolves around whether the same undisclosed foreign income can be taxed in multiple assessment years. The tax authorities tried to tax the same amount found in a Swiss bank account across different years, but the court ruled that this is not allowed. The court sided with the taxpayer, confirming that the same income cannot be taxed twice, and dismissed the tax department’s appeals.
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Court Upholds Tax Planning as Lawful, Rejects Revenue’s Claim of Sham Transacti…
Income Tax,Jun. 11, 2021This case involves a dispute between the Commissioner of Income Tax and Vikram Reddy (and related parties) over whether a series of share transfers and business restructurings were genuine tax planning or a colorable device (i.e., a sham) to evade capital gains tax. The High Court ultimately sided with the taxpayer, holding that the transactions were within the framework of the law and not a sham, dismissing the revenue’s appeal.
Court upholds reassessment notice, asks taxpayer to prove income recognition me…
Income Tax,Jun. 11, 2021This case involves M/s. Durr India Private Limited challenging the Income Tax Department’s decision to reopen its tax assessments for the years 2011-12 and 2013-14. The main dispute was about how the company recognized its income—specifically, whether it could use the “percentage of completion” method for its construction contracts. The court didn’t quash the reassessment notices but told the company to provide documents proving its method, and dir…
Windmills, Depreciation, and Passive Use: Court Upholds Assessee’s Claim
This case is about whether a company can claim depreciation on windmills for tax purposes, even if those windmills generated little or no electricity during the year. The court decided in favor of the company, holding that even minimal or trial production—or simply keeping the windmills ready for use—qualifies as “use” for depreciation under tax law.
Income Tax,Jun. 11, 2021-
Income Tax , Jun. 11. 2021
Court affirms Assessing Officer’s authority to reopen tax assessments based on …
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Income Tax , Jun. 11. 2021
Court Upholds Business Loss Claim on Forex Fluctuation, Dismisses Revenue’s App…
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Income Tax , Jun. 11. 2021High Court Quashes Income Tax Reopening Order, Directs Fresh Consideration of O…
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Income Tax , Jun. 11. 2021Court affirms TPO’s authority in transfer pricing adjustments, ruling against t…
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Income Tax , Jun. 11. 2021Reassessment Notice Quashed: AO Failed to Apply Mind, Mixed Up Assessment Years
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