. The Hon’ble Gujarat High Court took note of the fact that object of scheme legislated for assessment in search cases is to bring to tax the undisclosed income which is found during the course of or pursuant to search or requisition and therefore additions/disallowances must be linked with search/requisition. It was noted by the… Read More »
,The interest on the delayed refund becomes part of the principle amount and the delayed interest includes the interest for not refunding the principle amount. Accordingly, it also includes the interest on the delayed refund. HIGH COURT OF HIMACHAL PRADESH Principal Commissioner of Income-tax v. Ambuja Darla Kashlog Mangoo Transport Co-operative Society L. NARAYANA SWAMY,… Read More »
HIGH COURT OF BOMBAY Miranda Tools (P.) Ltd. v. Income-tax Officer M.S. SANKLECHA AND NITIN JAMDAR, JJ. WRIT PETITION NO. 2240 OF 2019 NOVEMBER 14, 2019 Madhur Agarwal and Atul Jasani for the Petitioner. N.C. Mohanty for the Respondent. ORDER 1. By this petition, the Petitioner has challenged the notice dated 26 February 2019 and the order passed on 15 July 2019.… Read More »
Once the cancellation of registration has been set aside and registration granted under section 12A of the Act has been restored by the Tribunal, learned Commissioner (Appeals)’s decision for disallowance of exemption under section 11 of the Act becomes redundant, hence, has to be set aside . IN THE ITAT MUMBAI BENCH ‘A’ Amateur Riders… Read More »
SUPREME COURT OF INDIA Principal Commissioner of Income Tax v. Subarna Rice Mill A.M. KHANWILKAR AND DINESH MAHESHWARI, JJ. SLP (CIVIL) DIARY NO(S). 8991/2019 JANUARY 9, 2020 Arijit Prasad, Sr. Adv., Syed Abdul Haseeb, Adv. and Mrs. Anil Katiyar, AOR for the Petitioner. Mohit Paul, AOR and Ms. Sunaina Phul, Adv. for the Respondent. ORDER 1. Learned counsel for the petitioner, on instructions issued by… Read More »
It is pertinent to note here that section 80HH and section 80-IA(2)(iv)(c) are two different and independent provisions. The decision of Hon’ble Rajasthan High Court relied upon by the learned counsel for the respondent is of no assistance to the assessee in the fact situation of the case as the aforesaid decision was based on… Read More »
HIGH COURT OF GUJARAT Gujarat Rajya Kamdar Sabha Union Machiwadi v. Income-tax Officer J.B. PARDIWALA AND BHARGAV D. KARIA, JJ. R/TAX APPEAL NO 1064 OF 2018 JANUARY 7, 2020 Manish J. Shah for the Appellant. Mrs. Kalpanak Raval for the Respondent. JUDGMENT J.B. Pardiwala, J. – This tax appeal under section 260A of the Income-tax Act, 1961 (for short “the Act,… Read More »
IN THE ITAT MUMBAI BENCH ‘A’ Amateur Riders Club v. Assistant Director of Income-tax (Exemption) Circle-II (2), MumbaiRead More…*In favour of assessee.* SAKTIJIT DEY, JUDICIAL MEMBER AND MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER IT APPEAL NOS. 48, 195 (MUM.) OF 2013 AND 5610 (MUM) OF 2015 [ASSESSMENT YEAR 2009-10 AND 2011-12] JANUARY 13, 2020 S.E. Dastur and Niraj Sheth for… Read More »
Since the assessment proceedings no longer involve human interaction and is based on records alone, the assessment proceeding should have commenced much earlier so that before passing assessment order, the respondent assessing officer could have come to a definite conclusion on facts after fully understanding the nature of business of the petitioner. It appears that… Read More »
SUPREME COURT OF INDIA Maruti Suzuki India Ltd. v. Commissioner of Income-tax ASHOK BHUSHAN AND NAVIN SINHA, JJ. CIVIL APPEAL NO. 11923 & 11924 OF 2018 FEBRUARY 7, 2020 JUDGMENT Ashok Bhushan, J. – By these appeals the assessee has challenged the judgment of the High Court of Delhi dated 07.12.2017 deciding the Income Tax Appeal No.31 of… Read More »