Sub-Whether refunds in excess of 20% of demand pending appeal can be withheld/adjusted? High-handedness of department -Rs 50000/- cost imposed. The Division bench of Rajasthan High Court in this case was dealing with a matter where refund for AY 2018-19 was determined and upon notice u/s...
(ITA/18/2021) IA No.GA/2/2018 (Old No.GA/515/2018) Sub:-Whether the interest subsidy and excise refund would be treated as capital receipt or revenue receipt for the purpose of computation of book profit under the provision of Section 115JB of the Income-Tax Act, 1961?” The division bench of Calcutta High...
WRIT PETITION (ST.) NO.2814 OF 2019 S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Interest income-Deduction-Change of opinion-No power of review-Reassessment is held to be bad in law [S. 37(1), 56, 57, 148 , Art. 226] The assesse is engaged in the...
(WP No. 2814 of 2019 ) S. 147: Reassessment-After the expiry of four years-No failure to disclose material facts-Interest income-Deduction-Change of opinion-No power of review-Reassessment is held to be bad in law [S. 37(1), 56, 57, 148 , Art. 226] The assessee is engaged in the...
(CIVIL APPEAL NOS. 85928593 OF 2010) Section 6(1) of the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 nowhere provides that it is “mandatory” to serve the convict or detenu with a primary notice under that provision whilst initiating action against the relative...
(ITA No.166/Del/2015) That the ‘return of income’ under section 148 can’t be treated as non-est even if filed beyond the time period specified in the notice under section 148. Because the AO has passed the order u/s 143(3) of the Act and not u/s 144 of...
(ITA No. 5832/Mum/2019) S. 11: Property held for charitable purposes-Charitable purpose- Strive to promote the trade, commerce and manufacturers of India without seeking to make profits for its members is charitable purpose-Denial of exemption is held to be not justified. [S. 2(15)] The AO denied the...
W.P.(C) 4845/2022 Sub- Whether NFAC is not being an income-tax authority is not authorised to pass assessment order and other issues related to reassessment proceedings challenged by a Retd Officer of Income-tax department. In an interesting case, a Retd Officer of Income-tax department was pitted against CBDT...
(CIVIL APPEAL NO(S).10069 OF 2016) Whether a co-operative society, is entitled to claim deduction of the whole of its profits and gains of business attributable to the business of banking or providing credit facilities to its members who are all co-operative societies under Section 80P of...
(WRIT PETITION (L) NO.6861 OF 2022) S. 147 : Reassessment-After the expiry of four years-Change of opinion-Subsidy-Provision for expenses-Query raised during assessment proceedings-Reply filed-It is not necessary that the assessment order should contain reference or discussion in the assessment order-Order was quashed-Court observed that the order...