Latest income tax case laws. Income Tax Ordinance 1979) [since repealed] S.
Latest income tax case laws Please contact itcell. This judgment will solve the biggest income tax litigation if CBDT comes out with clear circular stating steps to be followed by Assessing Officers. CBDT (2008) 10 SCC 509. Agson Global (P) Ltd, and held that the cash sales made by the assessee deposited in the bank account are in accordance with law and hence the addition made Dec 29, 2021 · Why is the case important? This is the first case on the interaction between the protection of personal data afforded by the Personal Data Protection Act 2010 (PDPA) and the powers granted to the tax authority under the Income Tax Act 1967 (ITA) to request such personal data. 19/03/25 Deposit of tax deducted at source in special cases Tax deducted at source in respect of any income by way of salary, interest other than interest on securities or any income by way of insurance commission or any income by way of commission or brokerage to be deposited for the quarter ended 31-3-2025 in cases where the assessing officer with prior approval of Joint Commissioner grants Jan 5, 2022 · If the deductor had failed to remit the tax so deducted, it was open to the department to recover the same from the deductor in the manner known to law. Jan 25, 2023 · Insofar as the question of law framed as (d) is concerned, we find that the Tribunal has not addressed the issue of adopting the gross profit rate of 5% on the alleged Hawala purchase of Rs. 229(Del)2011 Assessment year: 2001-02 Asstt. The first tax on personal income was not levied until the Civil War. Income Tax Act - For block assessment, normals procedure not applicable; Interest can be levied without sec 158bc notice. , KARACHI THROUGH M. M/s New Noble Educational Society Vs. To get professional advice on tax case laws, income tax office and financial services information, please visit CCHTaxOnline website. Section 143 of the Income-tax Act, 1961 – Assessment – Additions to income Designed and developed by Income Tax Appellate Tribunal, Department of Legal Affairs, Ministry of Law & Justice, Government of India. Chapter XXB provides for the requirement as to the mode of acceptance, payment or repayment in certain cases to counteract evasion of tax. Muhammad Farooq v. 12 Cr under Section 35(2AB) for R&D facility which was subjected to assessment wherein the said claim was allowed, PCIT initiated proceedings under Income Tax | Case Laws. 20. Jan 2, 2025 · This Tax Alert summarizes a ruling of the Supreme Court (SC) in the case of Jupiter Capital Pvt. M. TOLA will continue to apply to the Income Tax Act after 01 April, 2021, if any action or proceeding specified under the substituted provisions of the Income Tax Act falls for completion between 20-03-2020 and 31-03-2021. KANT, ACCOUNTANT MEMBER [Through Video Conferencing] ITA No. No. 9/Del/2017 Sunil Nayyar not open Latest Income Tax Case Laws since 2010 decided by various courts. Harminder Kaur, Vs. Supreme Court Validates Section 148 Notices issued after 31st March 2021. Section 80-IA of the Income-tax Act, 1961 – Deductions – Profits and gains from infrastructure undertaking III. 3795 of 2014]. Jan 16, 2023 · 1) Held by the Hon’ble Gujarat High Court in the case of Ball Aerosol Packaging India (P. Feb 4, 2024 · Case Title: Commissioner Of Income Tax Versus M/S Indo Rama Textiles Ltd. L. Jul 24, 2024 · As a result of these changes, a salaried employee in the new tax regime stands to save up to ₹ 17,500/- in income tax. . 6168/Del/2016 & CO No. 182 Sale of Goods Act (III of 1930), Ss. 10(26AAB) of Income Tax Act: Delhi High Court. Hosted by National Informatics Centre (NIC), Ministry of Electronics & Information Technology, Government of India. is depreciation claimable @ 80%. Apr 8, 2022 · High Court of Delhi was dealing with the petition filed challenging the impugned order dated 9 th March, 2022 passed by Respondent No. It explains how cases would be decided today and takes into account important recent Circulars on Income Tax Law, Wealth Tax Law from 1940 Circular Letters on Income Tax Law, Wealth Tax Law from 1963 Finance Acts/Ordinances and any other Act/Ordinance through which amendments are made Short/Head Notes with complete text of cases of Supreme Court, High Courts, FTO and Appellate Tribunal on Income/Wealth Tax Law from 1947 Jan 3, 2024 · This Annual Digest of Supreme Court Cases analytically summarizes all Income Tax and Indirect Tax related cases heard by the Apex Court reported at taxscan. Citation : 2024 LiveLaw (SC) 55. All Acts & Rules; Chapter V - Finance Act, 1994; All Rules; Service Tax Rules, 1994; Valuation Rules May 28, 2021 · 1. Essential Oil Company [2023] 148 taxmann. the income chargeable to tax (under the head “income from business”) could be properly calculated. Facts: Assessee filed return of income of Rs. nic. Ahmedabad Urban Development Authority [Civil Appeal No. 8,33,087/- which was deemed unexplained income under Section 69A of the Income Tax Act, 1961. Taxable amount of purchase of Rs. Oct 14, 2022 · This judgement thus sets at rest, the entire controversy ,though it will now lead to several cases of revision, reassessment as probably there will be notices u/s 148 /263 in respect of already concluded assessments. Conclusion: – 1. 21762 of 2017]. The OIR now made a decisive shift in the proceedings. Some of the income tax latest case laws and latest income tax judgements in India delivered by the Indian judiciary of Tribunal in this year 2019 are compiled and curated by our team as follows. 09. Feb 3, 2025 · February 28, 2024 Glencore – Break fees as “inducement” Published by Sarah Faber. Harminder Kaur,, New Delhi vs Ito,, New Delhi on 10 February, 2021 IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: 'C' NEW DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI O. The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail. 16. Commissioner of Income Tax v. The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts. 11,82,25,849/- u/s. PANDA, ACCOUNTANT MEMBER ITA. Our Clear Library provides all the necessary direct and indirect tax-related data. com SkypeId: taxmannindia India's most Comprehensive Transfer Pricing Database covering over 7300 cases along with international case laws, APA and BEPS tracker. 20. Following an examination of the bank account, the Assessing Officer (A. 115JB of the Income Tax Act [Act Apr 2, 2025 · Australian taxation law cases 2023 : a guide to the leading cases for business, commerce and law students by Kerrie Sadiq The 2023 edition of Australian Taxation Law Cases is a feature-packed resource that includes key new cases and revisions of the commentary. GST Realtime GST news and analysis of rulings from various authorities like NAA, AARs, High Courts, Supreme Court, etc along with detailed coverage of GST council meetings. Aug 27, 2018 · Sir, Thank you very much for your best articles. E. Stay informed with these key legal insights. Feb 18, 2024 · 2015 amendment to Section 153C of Income Tax Act will apply to searches conducted prior to the date of amendment. Vs. Vs Rajeev Bansal (Supreme Court of India) In Union of India & Ors. vs Rajeev Bansal, the Supreme Court clarified the application of the Taxation and Other Laws Act, 2020 (TOLA) in relation to reassessment proceedings under the Income Tax Act, 1961. CASE TITLE. Whether the order passed under Section 147 of the Income Tax Act, 1961, was valid. 2021 as no fresh tangible evidence was put on record by the Assessing Officer as compare to the evidences Income Tax Appellate Tribunal - Delhi Kishan Lal Jewels (P) Ltd. The respondent was intimated that the concealed sales attracted the provisions of s. We have set up the solar system on the terrace of the bussiness premises and is owned by company. The Hon’ble Karnataka High Court in the case of CIT v. Tax and industry professionals have been waiting for the Federal Court of Appeal (the “FCA”) to issue its decision in Glencore Canada Corporation v R for several months. 50,000/- to Rs. Shanthakumari 2015] 60 taxmann. /2017 Assessment Year: 2011-12 Smt. This case focus on validity of income tax assessment made solely based totally on external customs reports, inclusive of those from the Directorate of Revenue Intelligence (DRI), without carrying out impartial investigations. Jan 4, 2024 · Fee Earned By APMC For Regulating Poultry Market, Exempt Under S. Facts of the Case: Oct 4, 2024 · Union of India & Ors. 2 of gstr-3b; new rules for itr filing online game income ay 2025-26 i income tax refund ! new rules for tds on salary Denial of deduction u/s. The Act was named “Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020” [“TOLA”]. Mar 17, 2021 · Karan Khurana , Delhi vs Ito, Ward- 48(2), New Delhi on 17 March, 2021 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES "C" : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI B. CIT Oct 3, 2024 · The Supreme Court has ruled in favor of the tax department, stating that after April 1, 2021, the Income Tax Act must be read with its new provisions. Commissioner Vs Ami Industries (India) P Ltd, Income Tax Appeal No. Search Income Tax, Direct Tax, Case Laws, Judgment, Acts, Rules, Articles, Queries, Forms, IT Returns, Section, Statutes , Circular, Press Release, Notifications Know more about Direct Tax case laws here. Smt. Deputy Commissioner of Income Tax: 20/03/25: M/s. 6 days ago · Get more updates on the latest tax cases and gain valuable insights to optimize your tax strategy in India. State of Jharkhand: 20/03/25: State of Uttar Pradesh Vs. Deal News; Bombay High Court Slaps ₹25K Costs On Industrialist Dec 14, 2024 · The reassessment process under the Income Tax Act allows tax authorities to reopen past assessments if income has escaped assessment. f. 01. CATEGORY. Hon. - Notification No. Aug 6, 2022 · resident and according to the laws of that State, but if the recipient is the beneficial owner of the dividends the tax so charged shall not exceed… •Article 11(4)- Interest arising in a Contracting State shall be exempt from tax in that Contracting State to the extent approved by the Government Mar 31, 2021 · By CA Milind Wadhwani. Commissioner of Income Tax, M/s. 2023 LiveLaw (SC) 274Amendment brought to Section 153C of the Act, 1961 vide Latest case Previous case SECTION. Section 145, read with section 37(1), of the Income-tax Act, 1961 – Method of accounting – Rejection of accounts IV. Palaniammal Palaniappan Vs Income Tax Officer (Madras High Court), Case No WP No. Through this write-up, let us analyze key income tax judgments from the income tax appellate tribunal, the high court, and the Supreme Court. Swamy v. 1231 of 2017, The Hon’ble High Court of Judicature at Bombay on January 29 th, 2020 decided the case in favor of the assessee and against the revenue on the similar principles of law by saying: Mar 21, 2023 · Section 54F of the Income Tax Act, of 1961 provides relief to taxpayers from capital gains tax on the sale of a residential property, provided the sale proceeds are invested in a new residential property. JAIN, JUDICIAL MEMBER ITA NO. /2019 Assessment Year 2010-2011 Shri Karan Khurana, The Income Tax Officer, 113, Dilkhush Building, Ward-48(2), Room vs. VEERABHADRAPPA, HON'BLE PRESIDENT AND SHRI A. and is there any necessity to show whether this system started before 30. While deciding the question as to whether reopening of a concluded Oct 31, 2022 · Assistant Commissioner of Income Tax (Exemptions) v. Sep 23, 2024 · The case is of penalty under Section 270A of the Income Tax Act1961 for underreporting of income due to indexed development expenditure having been disallowed by the assessees. However, significant procedural changes were introduced by the Finance Act, 2021 , effective from April 1, 2021, replacing the old reassessment ITATorders. ddvttwxisydyapqpvqgrmlgdevzynlfcgdhsmvvkttceebuinmhoqtgmddjomfreeaqjbgjkpwue