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Showing posts with label Recent Judgements. Show all posts
Showing posts with label Recent Judgements. Show all posts

Path Breaking Judgement

Assessee cannot be asked to reverse input tax credit due to non-payment of taxes by the selling dealers Sri Lakshmi Textiles Vs. the Commis...

Important Circulars on Black Money

CBDT’s Explanatory Circular On The Provisions Of The Black Money Act, 2015 The CBDT has issued Circular No. 12 of 2015 dated 02.07....

CIT vs. Mahagun Technologies Pvt. Ltd (ITAT Delhi)

S. 271D: Section 269SS does not apply to non-monetary book entry transactions of loans and advances Section 269SS indicates that it a...

KPC Medical College & Hospital vs. DCIT (ITAT Kolkata)

S. 271(1)(c): Law on levy of penalty in a case where satisfaction is recorded in s. 153C/153D assessments by AO who is common to the searc...

P.M.S Diesels vs. CIT (P&H High Court)

S. 40(a)(ia): Argument that the disallowance for want of TDS can be made only for amounts "payable" as of 31st March and not f...

CBDT Orders For Promotion Of CCsIT & DGsIT To Pr. CCIT & Posting Orders

The CBDT has vide Order No. 90 of 2015 dated 30.06.2015 ordered the promotion of several officers in the grade of Chief Commissioner / Dir...

The NTT Act “crosses the boundary” & is unconstitutional. CAs/CSs are specialists on accounts & facts and are not capable of arguing/ deciding ‘Substantial Questions Of Law’

Madras Bar Association vs. UOI (Supreme Court – Full Bench) The Full Bench of the Supreme Court had to consider whether the National Tax Tri...

Four Important Judgements On Recent Controversial Topics

The following are four important judgements on recent controversial topics: Maruti Securities Ltd vs. ACIT (ITAT Hyderabad) S. 145: Even if ...

Three Imp Judgements On S. 147 Writ, S. 14A/ Rule 8D Disallowance And S. 234E TDS Fine Stay

Madhukar Khosla vs. ACIT (Delhi High Court) S. 147: If “ reasons to believe ” are not based on  new, “tangible materials” , the reopening am...

Four Important Judgements Of The Bombay High Court And Kol ITAT

CIT vs. Devdas Naik (Bombay High Court) S. 54/54F: Two flats, even though acquired under different agreements & from different sellers, ...

Assessee must be allowed TDS credit based on TDS certificate even if same is not reflected in 26AS

In our view, though Form 26AS (r/w r.3 1AB and ss. 203AA and 206C(5)) represents a part of a wholesome procedure designed by the Revenue for...

Two Important High Court Verdicts On S. 80-IB(10) And S. 80HHC vs. 80-IA(9)

CIT vs. Moon Star Developers (Gujarat High Court) S. 80-IB(10): If developer does not (without just cause) develop to full extent of FSI, a ...

High Court Passes Severe Strictures On ITAT Working

CIT Vs. Ram Singh (Rajasthan High Court)   Strictures passed regarding poor quality of orders of the ITAT. Government urged to ensure that o...

Supreme Court Explains Important Law On Taxation Of Charitable + Religious Trusts

CIT vs. M/s Dawoodi Bohara Jamat (Supreme Court) A charitable and religious trust which does not benefit any specific religious community is...

ITAT Hauls Up AO And DRP For Frivolous Addition Of Rs. 5,700 Crore

Bharti Airtel Limited vs. ACIT (ITAT Delhi) ITAT hauls up AO & DRP for “ blatantly frivolous & unsustainable ” additions. Suggests t...

Three Important High Court Judgements On Stay Of Demand, Reopening And Special Audit

The following are the three important judgements: Sony India Pvt. Ltd vs. ACIT (Delhi High Court) S. 220: After rejecting stay application A...