TPO Framed Order In The Name Of Non-Existent Entity ‘Cairn’ Instead Of Vedanta, Error Not Curable: Delhi High Court
The Delhi High Court Delhi High Court has held that the error committed by the Transfer Pricing Officer (TPO) in the name of non-existent...
Income Tax Commissioner Can Exercise Revisional Jurisdiction: Kerala High Court Dismisses Cochin International Airport’s Appeal
The Kerala High Court while dismissing the appeal filed by the Cochin International Airport Ltd. held that the Income Tax Commissioner can exercise revisional...
TOLA | Rajeev Bansal Case Can’t Be Construed Affirming Authority Of Joint Commissioner To Approve Reassessment Notice Post 01 April 2021: Delhi High Court
The Delhi High Court has held that the Rajeev Bansal Case cannot possibly be construed or read as affirming the authority of a Joint...
Collection Of Market Information Doesn’t Qualifying Benchmarks Of PE, Seconded Employees Not Carrying Business Of Samsung Korea: Delhi High Court
The Delhi High Court has held that none of the activities undertaken by those seconded employees could be said or construed to be the...
School To Pay Water-Tax And Sewerage-Tax Even If Exempted From Building Tax: Allahabad High Court
The Allahabad High Court has held that the School is liable to pay water-tax and sewerage-tax even if exempted from building tax.The bench of...
Income Tax Weekly Flashback: 5 to 11 January 2025
Income Tax Weekly Flashback for the period 5 to 11 January 2025.Supreme CourtReduction In Share Capital Of Subsidiary Company Is Transfer Of Asset Under...
AO Not Certain About Allegation Of Accommodation Entries; Delhi High Court Quashes Income Tax Reassessment
The Delhi High Court has quashed the reassessment proceedings on the ground that the Assessing officer (AO) was not certain about allegations of accommodation...
Time Period For Framing Assessment Expired & No Outstanding Demand, Income Tax Authorities Can’t Retain Seized Cash: Delhi High Court
The Delhi High Court has held that if the time period for framing an assessment under Section 153A of the Income Tax Act has...
Mandatory Twin Conditions To Be Fulfilled For Transferring Cases From One AO To Another: Himachal Pradesh High Court
The Himachal Pradesh High Court has held that twin conditions to be complied with by the income tax department for transferring the case of...
Reduction In Share Capital Of Subsidiary Company Is Transfer Of Asset Under Income Tax Act: Supreme Court
The Supreme Court has held that reduction in share capital of the subsidiary company and subsequent proportionate reduction in the shareholding of the assessee...
AO’s Order Can’t Be Treated As Prejudicial To Interest Of Revenue When Permissible In Law: ITAT
The Rajkot Bench of Income Tax Appellate Tribunal (ITAT) has held that the order passed by the Assessing Officer (AO) cannot be treated as...
Bombay High Court To Finally Dispose Of PIL Challenging Denial Of S. 87A Rebate For A.Y. 2024-25 Tomorrow
The Bombay High Court has adjourned the final disposal of PIL challenging denial of Rebate under Section 87A of the Income Tax Act For...
Bombay High Court Directs Income Tax Dept. Compute Tax At The Rate Of 100% And Not 125% In ‘Non-Search’ Case
The Bombay High Court has directed the income tax department to compute the tax at the rate of 100% and not 125% in ‘non-search’...
Delhi High Court Quashes Reassessment Notice Issued To Dead Person
The Delhi High Court has quashed a reassessment notice issued to dead person.The bench of Justice Yashwant Varma and Justice Dharmesh Sharma has observed...
Public Holidays Excluded From Seven Days Time Period To File To Reassessment Notice Reply : Delhi High Court
The Delhi High Court has held that public holidays are excluded from the seven days time period to file a reassessment notice reply.The bench...
Tax Consequences Of Credit Card Bill Payment In Cash
As per the Central Board of Direct Taxes (CBDT) the payments made in cash towards credit card dues of an amount of Rs 1...
Faceless Assessment Officer And Jurisdictional Assessment Officer Have Concurrent Jurisdiction In Issuance Of Reassessment Notice: Madras High Court
The Madras High Court has held that the faceless assessment officer and jurisdictional assessment officer have concurrent jurisdiction for issuance of reassessment notice.The bench...
No provision Under DTVSV Act Empowering Designated Authority To Reopen Concluded Settlement : Delhi High Court
The Delhi High Court has held that there is no provision under Direct Tax Vivad Se Vishwas Act, 2020 (DTVSV Act) empowering designated authority...
Co-Accused May Apply Separately For Compounding Of Offences U/s 276B and 278B Of Income Tax Act, 1961: Delhi High Court
The Delhi High Court has held that co-accused may apply separately for compounding of offences under section 276B and 278B Of Income Tax Act,...
Bank Of India Entitled To Income Tax Deduction to BPI On Purchase Of HTM Securities: Bombay High Court Disapproves AO’s Non-Compliance To High Court’s...
The Bombay High Court has disapproved the AO’s non-compliance to high court’s decisions and held that assessee are entitled for deduction to the broken...
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