8 IMPORTANT INCOME TAX CASE LAW 26.01.25 Sr No Case Law Title Brief Summary Citation Relevant Act 1 Discovery Networks Asia Pacific Pte Ltd. v. A.C.I.T Advertisement and distribution revenue taxable in India as business profits. Click Here Section 9 Income Tax Act, 1961 2 Discovery Networks Asia Pacific Pte Ltd. v. A.C.I.T Penalty… Read More »
Revenue Department is Obligated for Time-Bound Disposal of TDS Refund Application and Interest Payment Summary in Key Points: Issue: Whether the revenue department is obligated to process and dispose of a TDS refund application within a specific time frame and whether interest is payable on delayed refunds. Facts: The assessee filed a writ petition seeking… Read More »
Reopening of Assessment of a Dissolved Company is invalid Summary in Key Points: Issue: Whether the Assessing Officer (AO) can initiate reassessment proceedings under Section 148 of the Income-tax Act, 1961 against a company that has been dissolved. Facts: The assessee-company was dissolved in 2011. However, the AO issued a reopening notice under Section 148… Read More »
Notice under Section 148 issued against a deceased person held invalid. Summary in Key Points: Issue: Whether a notice issued under Section 148 of the Income-tax Act, 1961 to a deceased person is valid, and whether reassessment proceedings can be initiated against the legal representatives of the deceased after the expiry of the limitation period.… Read More »
Transfer of Jurisdiction and Assessment Order Invalid under Section 127 of the Income-tax Act if , AO failed to provide a reasonable opportunity of hearing to the assessee and recording reasons for the transfer. Summary in Key Points: Issue: Whether the transfer of the assessee’s case to a different Assessing Officer (AO) and the subsequent… Read More »
Amendments to Section 17(2) Rent Perquisite Valuation is Constitutionaly Valid : SC Summary: Issue 1: Whether the amendments to Section 17(2)(ii) of the Income-tax Act, 1961, relating to the valuation of perquisites in the form of rent concessions for bank employees, are constitutional. Issue 2: Whether the legislature can create a legal fiction to deem… Read More »
9 Important GST Case Laws 26.01.2025 Sr No Case Law Title Brief Summary Citation Relevant Act 1 Vodafone Idea Ltd. v. Union of India Rebate Claims for Exported Telecom Services Allowed Despite Missing Original Documents Click here Section 11B Central Excise Act, 1944 2 Frontier Shelters (P.) Ltd. v. Joint Commissioner Delayed filing their GSTR-3B… Read More »
High Court directs CBDT to allow sec. 87A rebate claim from Special Rate Income also Summary: The Chamber of Tax Consultants filed a Public Interest Litigation (PIL) challenging the modification of the online tax return filing utility by the Income Tax Department. The modification prevented taxpayers from claiming a rebate under Section 87A of the… Read More »
How to File a NIL TDS Return in Income Tax on TDS CPC Portal A NIL TDS return is filed when a business has not deducted any tax at source (TDS) during a specific period. It’s important to file this return to maintain compliance with tax laws, avoid penalties, and keep a clean tax record.… Read More »
GST Applicability and Input Tax Credit on Book Purchases for Employee Training Businesses often invest in resources to enhance the skills of their employees. A common question that arises is the applicability of Goods and Services Tax (GST) on the purchase of books for such training and the eligibility to claim Input Tax Credit (ITC)… Read More »