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SC - The person who has received enhanced compensation and interest thereon even by an interim order passed by the Court would be assessed to tax for that enhanced compensation.
Commissioner of Income Tax Versus Chet Ram (HUF)
(2017) TaxCorp(LJ) 13627 (SC) · http://taxcorp.in/FileOpenDT.aspx?ID=70011&Category=Judgment&CategoryType=Zip
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SC - Receipt of enhanced compensation and interest thereon under an interim order passed by the High Court in pending appeals relating to land acquisition matter, would be assessed to tax for that enhanced compensation.
Commissioner of Income Tax Versus Chet Ram (HUF)
(2017) TaxCorp(LJ) 13618 (SC) · http://taxcorp.in/FileOpenDT.aspx?ID=70011&Category=Judgment&CategoryType=Zip
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SC - As per Finance Act, 2017 amendment to Sec. 132A, the Income Tax Authority shall not disclose the 'reason to believe' or 'reason to suspect', as recorded u/s. 132/132A, to any person or any authority. Block assessment upheld.
N. K. Jewellers vs. CIT
(2017) TaxCorp(LJ) 13612 (SC)
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SC - Enhanced compensation alongwith interest received by assessee-HUF pursuant to HC’s interim order in pending appeals, is taxable in the year of receipt.
Chet Ram (HUF) vs. CIT
(2017) TaxCorp(LJ) 13609 (SC)
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S. 115-O Dividend Distribution Tax: Entire law on the constitutional validity of Dividend Distribution Tax (DDT) under Article 246 of the Constitution read with Entry 82 of List I and Entry 46 of List II in the Seventh Schedule and whether tea companies are liable for the tax on only 40% of the dividend income explained
UOI. vs. Tata Tea Co. Ltd.
(2017) TaxCorp(LJ) 13607 (SC) · Section. 115-O
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SC - Constitutional validity of dividend distribution levy (DDT- Sec. 115 O) on Tea Companies affirmed.
Tata Tea Co. Ltd. & Anr. vs. Union Of India & Ors
(2017) TaxCorp(LJ) 13597 (SC)
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S. 37(1): in order to decide whether disputed lease rent is deductible in the year of fixation or in the year the dispute attains finality, the nature of fixation of rent, its payment, recovery etc. and whether it is statutory or contractual, have bearing. The Tribunal is required to bring the facts on record
CIT vs. Travancore Cochin Udyoga Mandal
(2017) TaxCorp(LJ) 13513 (SC) · Section 37(1)
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S. 260A/27A: Meaning of "substantial question of law" explained. The High Court cannot proceed to hear a second appeal without formulating the substantial question of law involved in the appeal and if it does so it acts illegally and in abnegation or abdication of the duty case on Court
Maharaja Amrinder Singh vs. CWT
(2017) TaxCorp(LJ) 13512 (SC) · Sections 260A, 27A
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HUF Law: It is a settled principle of Hindu law that there lies a legal presumption that every Hindu family is joint in food, worship and estate and in the absence of any proof of division, such legal presumption continues to operate in the family. The burden lies upon the member who after admitting the existence of jointness in the family properties asserts his claim that some properties out of entire lot of ancestral properties are his self-acquired property
Adiveppa vs. Bhimappa
(2017) TaxCorp(LJ) 13511 (SC)
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S. 119: The CBDT has no jurisdiction to issue a Circular to amend the legislative provisions set out in the Act. Such action is ultra vires and liable to be quashed
CIT vs. S. V. Gopala Rao
(2017) TaxCorp(LJ) 13506 (SC) · Section 119
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S. 153A/ 153C: The seized incriminating material have to pertain to the AY in question and have co-relation, document-wise, with the AY. This requirement u/s 153C is essential and becomes a jurisdictional fact. It is an essential condition precedent that any money, bullion or jewellery or other valuable articles or thing or books of accounts or documents seized or requisitioned should belong to a person other than the person referred to in S. 153A. Kamleshbhai Dharamshibhai Patel 31 TM.com 50 (Guj) approved. SSP Aviation 20 TM.com 214 (Del) distinguished
CIT vs. Sinhgad Technical Education Society
(2017) TaxCorp(LJ) 13473 (SC) · Sections 153A, 153C
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CCTV cameras are culture of the day and promotes good governance. All Tribunals including the ITAT should have CCTVs with audio recording. The footage of the CCTV Camera will not be available under the RTI and will not be supplied to anyone without permission of the concerned High Court
Pradyuman Bisht vs. UOI
(2017) TaxCorp(LJ) 13437 (SC)
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S. 260A: Right of appeal is not a matter of procedure. It is a substantive right. This right gets vested in the litigants at the commencement of the lis and such a vested right cannot be taken away or cannot be impaired or imperilled or made more stringent or onerous by any subsequent legislation unless the subsequent legislation said so either expressly or by necessary intendment. An intention to interfere with or impair or imperil a vested right cannot be presumed unless such intention be clearly manifested by express words or by necessary implication.
K Raveendranathan Nair vs. CIT
(2017) TaxCorp(LJ) 13375 (SC) · Section. 260A
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S. 80P Test of Mutuality: An assessee cannot be treated as a co-operative society meant only for its members and providing credit facilities to its members if it has carved out a category called ‘nominal members’. These are those members who are making deposits with the assessee for the purpose of obtaining loans, etc. and, in fact, they are not members in the real sense. Most of the business of the assessee was with this category of persons who have been giving deposits which are kept in Fixed Deposits with a motive to earn maximum returns. A portion of these deposits is utilised to advance gold loans, etc. to the members of the first category. It is found that the depositors and borrowers are quite distinct. In reality, such activity of the appellant is that of finance business and cannot be termed as co-operative society
The Citizens Cooperative Society Ltd. vs. ACIT
(2017) TaxCorp(LJ) 13372 (SC) · Section. 80P
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SC - In all cases where assessee is in appeal in the HC u/s. 260A, if the date of assessment is prior to March 06, 2003, Sec. 52A of the Kerala Court Fees and Suits Valuation Act, 1959 shall not apply and the court fee shall be payable as per provisions prevailing as on the date of such assessment order.
K. Raveendranathan Nair vs. CIT
(2017) TaxCorp(LJ) 13362 (SC)
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SC - The co-operative society (providing credit facilities beyond members) cannot be treated as a co-operative society meant only for its members and providing credit facilities to its members. Such a society cannot claim the benefit of Section 80P of the Act
The Citizen Co-Operative Society vs. ACIT
(2017) TaxCorp(LJ) 13341 (SC) · Section. 80P
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S. 80-IA: Difference between 'manufacturing' and 'production' explained. The word ‘production’ has a wider connotation in comparison to ‘manufacture’. Any activity which brings a commercially new product into existence constitutes production. The process of bottling of LPG renders it capable of being marketed as a domestic kitchen fuel and, thereby, makes it a viable commercial product
CIT. vs. Hindustan Petroleum Corporation Ltd.
(2017) TaxCorp(LJ) 13303 (SC) · Section. 80-IA
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SC - As per Technical Collaboration Agreement, technical fees for plant set-up as capital expenditure.
Honda Siel Cars India Ltd. Vs. CIT
(2017) TaxCorp(LJ) 13001 (SC)
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Technical know-how: Entire law explained on whether expenditure incurred under a Technical Collaboration Agreement for setting up of new plant for the first time to manufacture cars constitutes capital or revenue expenditure
Honda Siel Cars India Ltd. vs. CIT
(2017) TaxCorp(LJ) 13000 (SC)
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S. 139AA (inserted by the Finance Act 2017) which mandates quoting of Aadhaar number with the PAN is constitutionally valid under Articles 14 and 19(1)(g). The proviso to s. 139AA(2) (which deems the PAN void ab initio if the Aadhaar number is not quoted) is also valid. However, as the challenge under Article 21 is pending before the Constitution Bench, a partial stay is granted. Those who are already enrolled under the Aadhaar scheme should comply with s. 139AA (2). Those who are not enrolled need not do so for the time being and their PAN will not be treated as invalid. The said proviso to s. 139AA(2) cannot be read retrospectively as it takes away vested rights. It will only have prospective effect
Binoy Visam vs. UOI
(2017) TaxCorp(LJ) 12999 (SC) · Section. 139AA
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