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The assessee had given loans to other educational society having similar objects, whose President was the brother of the assessee trust, and thus would not amount to an investment or a deposit attracting Sec. 13(1)(d).
Society of Daughters of Mary Immaculate & Collaborators Vs Commissioner of Income Tax
(2022) TaxCorp(LJ) 29591 (HC-MADRAS)
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IBC provisions cannot be interpreted in a manner inconsistent with any other law in the time being in force and the approved resolution plan cannot impinge the Revenue’s rights to pass any fresh assessment order under Section 148 read with Sections 147 & 143(3).
Dishnet Wireless Limited Vs Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 29531 (HC-MADRAS)
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The issue raised in the petition is that on assessee’s appeal before the ITAT against the CIT(A)’s order, the CIT(A)’s order was set aside, and thus the very foundation of the prosecution against the assessee for alleged wilful default and penalty fails.
A.Latha Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29522 (HC-MADRAS)
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Without any substantive material, assessee cannot be construed as owner of the WTGs. Payment made by it to Wescare can be treated only as a consumption charge for electricity supplied to them, for business purpose.
Tube Investments of India Ltd Vs Commissioner of Income Tax
(2022) TaxCorp(LJ) 29499 (HC-MADRAS)
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Even trial production machineries kept ready for use, were considered to be used for purpose of business to qualify for depreciation.
LAKSHMI GENERAL FINANCE LTD. Vs The Commissioner of Income Tax
(2022) TaxCorp(LJ) 29480 (HC-MADRAS)
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CENVAT credit written off due to merger of manufacturing unit with another company was allowable as a deduction, since the benefit of CENVAT credit not availed of against the excise duty payable cannot be utilised by the assessee.
Kaleesuwari Refinery Pvt. Ltd Vs Principal Commissioner of Income Tax
(2022) TaxCorp(LJ) 29471 (HC-MADRAS)
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Assessee directed the landowner to pay the amount due on surrender of tenancy rights to the builder and hence does not result in exchange of assets. Therefore, depreciation on the said property is allowed.
Areva T & D India Ltd Vs The Commissioner of Income Tax
(2022) TaxCorp(LJ) 29461 (HC-MADRAS) · Section 28
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Where the entire tax liability was paid to the Government, and there was no loss to the exchequer, allowing the case to continue after a lapse of 11 years would be abuse of process of court.
Dharampal R.Pandia Vs Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 29459 (HC-MADRAS)
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Since the quantum of interest charged under Section 234-D of the Income Tax Act in the present case is lesser than Rs.50,00,000/- as stated in the Circular No.3/2018 dated 11.07.2018, the Tax Case Appeal is liable to be dismissed.
S.Duraipandi & S.Thalavaipandian Vs Commissioner of Income Tax
(2022) TaxCorp(LJ) 29449 (HC-MADRAS)
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Assessing officer can grant deposit orders of a lesser amount than 20% pending appeal without making reference to the administrative Pr.CIT/CIT.
Queen Agencies Vs The Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 29404 (HC-MADRAS) · Section 220(6)
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The conclusion of the PCIT that it is necessary to maintain separate books of account is not sustainable.
Virtusa Consulting Services Pvt. Ltd Vs The Deputy Commissioner of Income-tax
(2022) TaxCorp(LJ) 29402 (HC-MADRAS) · Section 263
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Non-obstante clause would not exclude the operation of Sec. 153 as a whole since it implies that irrespective of availability of larger time to conclude the proceedings, final orders are to be passed within one month in line with the scheme of the Act.
Roca Bathroom Products Private Limited Vs The Commissioner of Income Tax
(2022) TaxCorp(LJ) 29379 (HC-MADRAS) · Sections 144C, 153, 153(2A), 153(3)
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Lower disallowance under Section 14A would not amount to misreporting.
Prem Brothers Infrastructure LLP Vs NATIONAL FACELESS ASSESSMENT CENTRE & ANR
(2022) TaxCorp(LJ) 29277 (HC-MADRAS) · Section 14A
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Section 278(e) empowered the Court to presume culpable mental state of the accused, unless, the accused shows that he had no such mental state with respect to the act charged as an offence in the prosecution.
S.J.Surya Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29276 (HC-MADRAS)
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Invocation of Section 263 by the CIT cannot be said to be without jurisdiction merely because the intimation of DIN in the order passed under Section 263 was one day after the order was passed.
Texmo Precision Castings Uk Ltd. Vs The Commissioner of Income Tax
(2022) TaxCorp(LJ) 29259 (HC-MADRAS)
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Assessee failed to prove any reasonable cause in failure to file the return of income within the specified date, even though there was taxable income.
Dharampal R.Pandia Vs The Deputy Commissioner of Income - Tax
(2022) TaxCorp(LJ) 29254 (HC-MADRAS) · Section 271(1)(c)
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Revenue had tangible material to reopen the income tax assessment and the same was legally done as per the provisions of Section 147 of the Income Tax Act by issuing a notice under Section 148 of the Income Tax Act.
Thriveni Earthmovers Pvt. Ltd Vs The Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 29246 (HC-MADRAS)
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There is no irregularity in the auction and the writ petition is meritless.
IGGI Resorts International Limited Vs The Tax Recovery Officer-I
(2022) TaxCorp(LJ) 29099 (HC-MADRAS)
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The AO should have merely determined the taxable income of each of the Transferor Companies as a separate head in the same assessment order and added only the tax liability of the assessee .
Cognizant Technology Solutions India Private Limited Vs The Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 29083 (HC-MADRAS)
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There must be concealment of income by the assessee or the assessee must have furnished inaccurate particulars of income in order to attract Section 276 C.
Noorjahan Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29040 (HC-MADRAS) · Section 276C
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