HIGH COURT OF BOMBAY Sadhana Rajendra Jain v. Central Board of Direct Taxes S.C. DHARMADHIKARI AND SMT. VIBHA KANKANWADI, JJ. WRIT PETITION NO. 8066 OF 2017 AUGUST 29, 2017 Rohan Deshpande for the Petitioner. S.V. Walve for the Respondent. ORDER 1. This petition was placed before us on 14-8-2017 but due to paucity of time it could not be taken… Read More »
Whether an assessee is liable to penalty under section 221(1) of the Act in a case in which the though the assessee has not paid the self assessment tax under section 140A, while filing the return of income, but revises the income, by filing revised return of income, and pays the tax on the revised… Read More »
Section 2(11) of the Indian Income Tax Act, 1961 specifies as only two class of assets i.e. tangible and intangible assets and within these two classes of assets, assets having same rate of depreciation are prescribed and they fall within the same block. Whereas, the concept of an asset falling within the same block is… Read More »
Held we are of the view that CBDT has issued a Circular No. 13/2017 dated 11.04.2017 wherein CBDT has clarified that the salary accrued to a non-resident seafarer for services rendered outside India on a foreign ship shall not be included in the total income merely because the salary has been credited in the NRE account maintained… Read More »
Held In the present case, the jurisdiction is transferred by Commissioner of Income Tax-3, Mumbai on 19-12-2014. The copy of order transferring jurisdiction was sent to the DCIT 3(1)(1), Mumbai and to other concerned officials but not to ITO 3(1)(3) who passed assessment order in the case of assessee. If the information given in jurisdiction… Read More »
IN THE ITAT DELHI BENCH: ‘E’ Assistant Commissioner of Income-tax, Circle-27(1), New Delhi v. Mohinder Kumar Jain H.S. SIDHU, JUDICIAL MEMBER AND O.P. KANT, ACCOUNTANT MEMBER IT APPEAL NO. 5254 (DELHI) OF 2014 [ASSESSMENT YEAR 2011-12] AUGUST 4, 2017 R.C. Dandaya, Sr. DR for the Appellant. R.S. Singhvi and Satyajeet Goel, CAs for the Respondent. ORDER O.P. Kant, Accountant Member – This… Read More »
Q : Whether the amount received by the assessee by way of exemption of sales tax payments was a trading receipt and not a capital receipt, hence liable to tax ? Held , Yes HIGH COURT OF DELHI Commissioner of Income-tax v. Bhushan Steels & Strips Ltd. S. RAVINDRA BHAT AND NAJMI WAZIRI, JJ. IT APPEAL NOS.… Read More »
IN THE ITAT MUMBAI BENCH ‘B’ Growmore Exports Ltd. v. Assistant Commissioner of Income-tax PRADEEP PARIKH, ACCOUNTANT MEMBER AND R.P. TOLANI, JUDICIAL MEMBER IT APPEAL NOS. 5893, 5896 AND 5897 (BOM.) OF 1995 [ASSESSMENT YEAR 1990-91] JUNE 27, 2000 Vijay B. Mehta and D.D. Shah for the Appellant. R.G. Sharma for the Respondent. ORDER Per Shri Pradeep Parikh, Accountant Member – Three… Read More »