Latest income tax case laws. Facts: Assessee filed return of income of Rs.

Latest income tax case laws The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail. Aug 6, 2022 · resident and according to the laws of that State, but if the recipient is the beneficial owner of the dividends the tax so charged shall not exceed… •Article 11(4)- Interest arising in a Contracting State shall be exempt from tax in that Contracting State to the extent approved by the Government Mar 31, 2021 · By CA Milind Wadhwani. Hosted by National Informatics Centre (NIC), Ministry of Electronics & Information Technology, Government of India. Reliance on External Customs Reports in Income Tax Assessments. Dec 5, 2023 · A bench of Shri Duvvuru Rl Reddy, Judicial Member & Shri S Balakrishnan, Accountant Member has relied on the judicial pronouncement in the case of Principal Commissioner of Income Tax vs. Mar 17, 2021 · Karan Khurana , Delhi vs Ito, Ward- 48(2), New Delhi on 17 March, 2021 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES "C" : DELHI BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI B. 19/03/25 Deposit of tax deducted at source in special cases Tax deducted at source in respect of any income by way of salary, interest other than interest on securities or any income by way of insurance commission or any income by way of commission or brokerage to be deposited for the quarter ended 31-3-2025 in cases where the assessing officer with prior approval of Joint Commissioner grants Jan 5, 2022 · If the deductor had failed to remit the tax so deducted, it was open to the department to recover the same from the deductor in the manner known to law. Palaniammal Palaniappan Vs Income Tax Officer (Madras High Court), Case No WP No. In the assessment proceedings for A. Stay connected to all updated on Income Tax Act Law Firms Law Firms . 6 days ago · Get more updates on the latest tax cases and gain valuable insights to optimize your tax strategy in India. Law: Income-Tax Act: Section(s): Section 2(24) , 36(1)(va), 43B of Income-tax Act,1961 : Counsel(s Bogus Purchase and Bogus Creditor Assessment on Assessee made u/s 143(3) for the Asst Year 2021-22. Bhagwan Devi (D), through her LR. Please contact itcell. This decision affects 90,000 notices of reassessment issued during the pandemic when both old and new laws overlapped, causing widespread disputes and legal actions. This case focus on validity of income tax assessment made solely based totally on external customs reports, inclusive of those from the Directorate of Revenue Intelligence (DRI), without carrying out impartial investigations. It explains how cases would be decided today and takes into account important recent Circulars on Income Tax Law, Wealth Tax Law from 1940 Circular Letters on Income Tax Law, Wealth Tax Law from 1963 Finance Acts/Ordinances and any other Act/Ordinance through which amendments are made Short/Head Notes with complete text of cases of Supreme Court, High Courts, FTO and Appellate Tribunal on Income/Wealth Tax Law from 1947 Jan 3, 2024 · This Annual Digest of Supreme Court Cases analytically summarizes all Income Tax and Indirect Tax related cases heard by the Apex Court reported at taxscan. Introduction: – Various High Courts had quashed reassessment notices issued u/s 148 of the act, on the ground that the same are bad in law in view of the new reassessment procedure, against such orders the Revenue had preferred an appeal before The Hon. 37. 75,000/- Feb 25, 2022 · Section 54F of the Income-tax Act, 1961 (Act) is a beneficial provision granting exemption to the assessee. Receipts and Accruals Tax Court Cases; Case Law; CSARS v Cape Consumers (Pty) Ltd (1999 (4) SA 1213) (61 SATC 91) CIR v Datakor Engineering (Pty) Ltd [1998] (60 SATC 503) Apr 9, 2024 · Case Title: M/S Mangalam Publications, Kottayam V. Vs. All cases of Supreme Court, High Courts & Tribunals in India updated almost daily. Sh. 175/2022 passed by the Income-Tax Bill, 2025: An Insight into the Income Tax Bill 2025 – Income Tax and Role of the Constitutional Courts; Is Cross Examination an absolute right at the time of Income Tax Proceedings; Are Jewellers paying income tax by selling gold jewellery already kept in their shops? Dec 5, 2023 · In the Moores' case, they owned 11% of the Indian company, and under federal law, that is considered a controlling interest, meaning the owners have influence over the timing of any distributions Jan 2, 2025 · MEENU GUPTA vs ASSISTANT COMMISSIONER OF INCOME TAX CITATION: 2024 TAXSCAN (HC) 2084. Queens’s Educational Society v. Smt. About half of federal revenue comes from individual income taxes, while less than 10 percent comes from corporate income taxes. State of Jharkhand: 20/03/25: State of Uttar Pradesh Vs. Through this write-up, let us analyze key income tax judgments from the income tax appellate tribunal, the high court, and the Supreme Court. All Acts & Rules; Chapter V - Finance Act, 1994; All Rules; Service Tax Rules, 1994; Valuation Rules May 28, 2021 · 1. Supreme Court. Harminder Kaur,, New Delhi vs Ito,, New Delhi on 10 February, 2021 IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: 'C' NEW DELHI BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI O. f. 19 & 20 : Presumptive tax regime Apr 3, 2025 · Latest Case Law Related to IBC – April to June 2024. CATEGORY. Swamy v. K. Relief to Adani Power: SC dismisses SLP filed by Income Tax Dept ASSISTANT COMMISSIONER OF INCOME TAX vs ADANI POWER MAHARASHTRA LIMITED– 2023 TAXSCAN (SC) 334 Oct 3, 2024 · The Supreme Court has delivered its verdict in the case of Union of India and Ors vs Rajeev Bansal regarding income tax reassessments under Section 148. DATE ISSUED Section 111 and Section 111D Income Tax Act 1967, Section 11 Civil Law Act 1956. , New Delhi vs Assessee (fit for publication sd/-) IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH "D" DELHI) BEFORE SHRI G. 1 under section 270 AA (4) of the Income Tax Act, 1961 rejecting the application filed by the Petitioner seeking immunity from imposition of penalty under section 270A of the Act for the Assessment Year 2018-19. Jul 30, 2021 · On June 30, 2021, the U. The Chief Commissioner of Income Tax and Anr [Civil Appeal No. e. Taxable amount of purchase of Rs. However, significant procedural changes were introduced by the Finance Act, 2021 , effective from April 1, 2021, replacing the old reassessment ITATorders. ) Ltd. V Assistant Commissioner of Income-tax, The Assessing Officer was not justified in reopening of the Re-assessment Proceedings u/s 148 as it stood prior to the Finance Act, 2021 w. Commissioner Vs Ami Industries (India) P Ltd, Income Tax Appeal No. GST Realtime GST news and analysis of rulings from various authorities like NAA, AARs, High Courts, Supreme Court, etc along with detailed coverage of GST council meetings. 20. in. During this term, some important tax decisions were handed down. Citation : 2024 LiveLaw (SC) 55. Apr 8, 2022 · High Court of Delhi was dealing with the petition filed challenging the impugned order dated 9 th March, 2022 passed by Respondent No. [ 1996 (12) TMI Dec 30, 2022 · Section 45(4) of Income Tax Act applicable to cases of subsisting partners of a partnership transferring the assets in favour of a retiring partner. Supplier has also intimated that he is only a Watchman in a Residential Colony. Jun 1, 2022 · Looking at the situation, a relaxation act was enacted by the Legislature. Pr. L. Amitbhai Gunvantbhai [1981] 129 ITR 573 (Gut. Feb 18, 2024 · 2015 amendment to Section 153C of Income Tax Act will apply to searches conducted prior to the date of amendment. E. Supreme Court concluded its 2020-2021 term, with two final decisions announced on July 1, 2021. Minto Road, New Delhi Jan 13, 2025 · new income tax notices to property buyers; new rules for income tax refund ay 2025-26; new change in gstr 3b & gstr 1 from april 2025 1; advisory on table-12 of gstr-1 or gstr-1a; advisory on reporting values in table 3. The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts. Jan 25, 2023 · Insofar as the question of law framed as (d) is concerned, we find that the Tribunal has not addressed the issue of adopting the gross profit rate of 5% on the alleged Hawala purchase of Rs. Supreme Court Validates Section 148 Notices issued after 31st March 2021. 2012 in order to claim full depreciation if yes what is the proof required to convince the income tax deprt. Tax and industry professionals have been waiting for the Federal Court of Appeal (the “FCA”) to issue its decision in Glencore Canada Corporation v R for several months. 10,03,65,180/- under the normal provisions of Income Tax Act and book profit of Rs. 10 crores from a Supplier disallowed u/s 37 as the said Suplier has denied the sale transactions with assessee. Jan 2, 2025 · This Tax Alert summarizes a ruling of the Supreme Court (SC) in the case of Jupiter Capital Pvt. Supplier has not been cross examined by the Assessee. Understand legal precedents and navigate tax law confidently. Feb 3, 2025 · February 28, 2024 Glencore – Break fees as “inducement” Published by Sarah Faber. Jan 26, 2024 · As I write this missive, we have entered the year 2024, which marks a new beginning for everyone. 10(26AAB) of Income Tax Act: Delhi High Court. 2023 LiveLaw (SC) 274Amendment brought to Section 153C of the Act, 1961 vide Latest case Previous case SECTION. Sep 9, 2024 · 4. 45 crores as against the rate of 0. Sep 30, 2024 · He further relied on relevant case laws on this issue in particular Duraiswamy Kumaraswamy v. American Hotel and Lodging Association v. vs Rajeev Bansal, the Supreme Court clarified the application of the Taxation and Other Laws Act, 2020 (TOLA) in relation to reassessment proceedings under the Income Tax Act, 1961. /2017 Assessment Year: 2011-12 Smt. Balance of tax, if any, which had escaped payment alone could be recovered from the assessee by issuing a suitable notice under the provisions of the Income-tax Act, 1961. [ Tilak Bazar, Delhi - 006. Income Tax Case Laws; Supreme Court; High Court; Advance Ruling Authority AAR; Tribunal - ITAT; Case Laws - Section Wise; Landmark Cases; Case Laws - Section Wise ; Chapter V - Finance Act, 1994; Service Tax - Acts & Rules. Sep 23, 2024 · The case is of penalty under Section 270A of the Income Tax Act1961 for underreporting of income due to indexed development expenditure having been disallowed by the assessees. and is there any necessity to show whether this system started before 30. JAIN, JUDICIAL MEMBER ITA NO. May 9, 2022 · 4. Increase of Standard Deduction for salaried person from Rs. Mumbai Tribunal : S. 21762 of 2017]. Ramesh Patodia 14-10-2022 . CIT Oct 3, 2024 · The Supreme Court has ruled in favor of the tax department, stating that after April 1, 2021, the Income Tax Act must be read with its new provisions. Traditionally, these proceedings were governed by Section 148 . S. Whether the order passed under Section 147 of the Income Tax Act, 1961, was valid. The point of deciding this appeal would be whether, in the case when the AO had estimated the same penalty for underreporting of income can be levied. May 23, 2023 · Anil Minda v. All Acts & Rules; Chapter V - Finance Act, 1994; All Mar 20, 2020 · Understanding Allowability of Business Expenditure under section 37 of the Income Tax Act, 1961 with latest case laws. K. Snehasis Nanda: 20/03/25: Chandra Shekhar Singh Vs. Commissioner Of Income Tax, Kottayam . Ltd. TOLA gave the power to extend the time limitations of various Acts including the Income Tax Act, 1961 [“the Act”]. Ahmedabad Urban Development Authority [Civil Appeal No. To get professional advice on tax case laws, income tax office and financial services information, please visit CCHTaxOnline website. Mar 1, 2025 · Get Latest News, Breaking News about Income Tax Act. Aug 27, 2018 · Sir, Thank you very much for your best articles. wtxur alalgsc rwvx leuobg bpotvsa fzuofg uixfrz rbvnr sxjyr jbmawyh kierr tyoaw qiljkd uilty ygaa