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The petitioner, an Indian company, challenged Section 206AA of the Income Tax Act which mandated a 20% tax deduction at source (TDS) on royalty payments made to non-residents without a Permanent Account Number (PAN). The court held that the India-Si…
Login to write your newsThe case involves an Indian company (the assessee) that made payments to non-resident entities for royalty and technical services. The assessee deducted tax at source (TDS) on these payments at the rates prescribed in the relevant Double Taxation Av…
Login to write your newsThis case involves an individual assessee, Arjun Malhotra, who sold 1,00,000 shares of NIIT to a company Glad Investment Pvt Ltd (GIPL) in 1997-98. The assessee claimed the sale consideration was Rs. 5 crores and claimed exemption under Section 54F.…
Login to write your newsThe case involves an appeal filed by a Biocon executive against the order of the Securities and Exchange Board of India (SEBI) restraining him from accessing the securities market and associating with listed companies for three months, and imposing …
Login to write your newsThe Income Tax Appellate Tribunal (ITAT) had ruled that certain lands owned by the assessees, although converted for non-agricultural purposes, were still considered agricultural lands and hence exempt from capital gains tax on their sale. The Reven…
Login to write your newsThe case involves an assessee who sold an immovable property in Devanahalli, Bangalore for Rs. 2.5 crores and claimed it as an agricultural land exempt from capital gains tax. The Income Tax Department disputed this claim, and the matter went throug…
Login to write your newsThis case involved a Hindu Undivided Family (HUF) that sold agricultural land and claimed exemption from capital gains tax under Section 2(14)(iii) of the Income Tax Act. The dispute centered on whether the land was situated beyond 8 km from the mun…
Login to write your newsThis case involves an appeal filed by an assessee (taxpayer) against the order of the Commissioner of Income Tax (Appeals) regarding the assessment year 2013-14. The key issue was whether the land sold by the assessee, an agricultural land located b…
Login to write your newsThe case involves an income tax dispute over the sale of land by an assessee in Juchandra village. The revenue department argued that the land should be treated as a capital asset and subject to tax, as Juchandra village became part of the Vasai-Vir…
Login to write your newsThis case involves a writ petition filed by an individual assessee challenging the reopening of assessment for AY 2015-16 under Section 148 of the Income Tax Act. The assessee had filed objections against the reasons for reopening, but the Assessing…
Login to write your newsThe petitioner, a domestic construction company, challenged the order passed under Section 148A(d) and the notice issued under Section 148 of the Income Tax Act, 1961, for the assessment year 2018-2019. The court dismissed the writ petition, holding…
Login to write your newsThe case involves a petition filed by an assessee challenging a notice issued under Section 148 of the Income Tax Act for reassessment of income. The assessee argued that the order passed under Section 148A(d) did not satisfy the prerequisite of hav…
Login to write your newsThe case involved a pharmaceutical company (petitioner) challenging notices issued by the Income Tax Department for reassessment of income for the assessment year 2018-19. The court quashed the notices, holding that the department failed to provide proper information as required under Section 148A(b) of the Income Tax Act before initiating reassessment proceedings.
This group of 24 special civil applications challenged the constitutional validity of Section 2(14)(iii) of the Income Tax Act, 1961, which brought certain agricultural lands within the definition of "capital assets" for taxation of capital gains. The Gujarat High Court upheld the provision, ruling that Parliament had the legislative competence to enact it under Entry 82 of the Union List, and that the classification was not violative of Article 14…
The case involves an individual non-resident Indian assessee who sold agricultural lands and claimed exemption under Section 54B of the Income Tax Act on the capital gains by purchasing new agricultural lands. The Income Tax Department denied the exemption, but the Income Tax Appellate Tribunal (ITAT) allowed the assessee's appeal and directed the Assessing Officer to delete the addition made to the assessee's income.
The petition was filed by Gurudwara Sahib Patti Dhaliwal (Trust) against the order of the Chief Commissioner of Income Tax (Exemptions), Delhi, rejecting the Trust's claim for refund of tax deducted at source on compensation received for compulsory acquisition of land. The court dismissed the petition, holding that the acquired land was not agricultural land and hence the compensation was taxable as capital gains.
The case involved an assessee (taxpayer) HUF that sold land in 1968 to housing societies. The tax department treated the gains as taxable capital gains on the basis that the land was non-agricultural at the time of sale. The assessee claimed the land was agricultural, and hence the gains were exempt from capital gains tax. The matter went up to the High Court, which ruled in favor of the assessee, holding that the land retained its agricultural cha…
The case involves an appeal by the Revenue Department against the Income Tax Appellate Tribunal's order, which had affirmed the assessee's claim that the sale of their land was not assessable as capital gains under Section 45 of the Income Tax Act, 1961, as it was agricultural land. The Revenue challenged the Tribunal's decision, arguing that there was no conclusive evidence to prove that agricultural operations were being carried on in the land pr…
Income Tax,Jul. 16, 2020This case involves an individual assessee who sold a 0.4 hectare land parcel in Alibaug for Rs 2 crores in the assessment year 2013-14. The assessee claimed the capital gains were exempt as the land was agricultural land. However, the Income Tax Appellate Tribunal upheld the tax authorities' view that the land did not qualify as agricultural land, making the gains taxable.
The case involves a dispute over whether the Special Land Acquisition Officer (SLAO) was required to deduct tax at source under Section 194LA of the Income Tax Act when paying compensation for acquiring land, buildings, and trees. The Revenue argued that the lands were not agricultural, so tax should have been deducted on the compensation. The SLAO contended that the lands were agricultural, and no tax was required. The court partially upheld the R…
The case involves the sale of agricultural land by the assessee and his family members to a private company. The tax authorities treated the sale consideration as capital gains from the transfer of a non-agricultural land, which the assessee contested. The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee, holding that the land qualified as agricultural land and hence, the sale proceeds were not taxable as capital gains.
This case involves a dispute between the Income Tax Department and an assessee (Founder-Chairman of Veltech Group of Educational Institutions) over whether capital gains from the sale of certain land should be taxed. The key issue was whether the land qualified as "agricultural land" under Section 2(14)(iii) of the Income Tax Act, which exempts such land situated beyond 8 km from the nearest municipal limits. The court upheld the assessee's claim t…
Income Tax,Aug. 26, 2020Check your phone. I have messaged an OTP. It is a 6 digit number. Feed it in the box below
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