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An expenditure/loss incurred for any purpose which is an offence shall not be deemed to have been incurred for the purpose of business or profession or incidental to it, and hence, no deduction can be made.
Prakash Chand Lunia (D) Thr.Lrs. & Anr Vs The Commissioner of Income Tax
(2023) TaxCorp(LJ) 31413 (SC)
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An incriminating material is a prerequisite for the Revenue to assume jurisdiction to assess or reassess the total income for the entire six years block assessment period even in case of completed/unabated assessments.
Abhisar Buildwell P. Ltd. & Others Vs Principal Commissioner of Income Tax
(2023) TaxCorp(LJ) 31411 (SC) · Sections 153A, 153C
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The interest income is not to be treated as business income for computation of the deduction under Section 80-HHC(3)(b).
Magnum International Trading Company (P) Ltd Vs COMMISSIONER OF INCOME TAX
(2023) TaxCorp(LJ) 31378 (SC) · Section 80HHC
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We are not inclined to interfere with the impugned order under the extraordinary jurisdiction of Article 136 of the Constitution of India.
Siemens Nixdorf Information Systemse GMBH Vs COMMISSIONER OF INCOME TAX (IT 4)
(2023) TaxCorp(LJ) 31371 (SC)
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The case pertained to allegation of escaped income of more than Rs.50 Lacs which satisfied the provisions of the amended Section 149(1)(b).
Salil Gulati Vs ASSISTANT COMMISSIONER OF INCOME TAX
(2023) TaxCorp(LJ) 31327 (SC)
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Receipts from DEPB and duty drawback schemes are not eligible for deduction under Section 80-IB.
Saraf Exports Vs Commissioner of Income Tax
(2023) TaxCorp(LJ) 31318 (SC) · Section 80-IB
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On mere belated remitting the TDS after deducting the same by the concerned person, no penalty shall be leviable under Section 271C.
US Technologies International Pvt. Ltd. & Others Vs The Commissioner of Income Tax
(2023) TaxCorp(LJ) 31317 (SC) · Section 271C(1)(a)
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In the present case, AO erred in allowing deduction and caused loss of tax to the Revenue, thus, HC committed a very serious error in setting aside the revisionary order.
Paville Project Pvt. Ltd Vs The Commissioner of Income Tax 7
(2023) TaxCorp(LJ) 31292 (SC)
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The statute must be read as a whole and one provision of the Act should be construed with reference to other provisions in the same Act so as to make a consistent enactment of the whole statute.
Vikram Sujitkumar Bhatia & Others Vs Income Tax Officer
(2023) TaxCorp(LJ) 31291 (SC) · Section 153C
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Bombay HC is directed to consider the matter afresh in accordance with law and on merits and consider the effect of the omission of Section 144B(9) of the Act.
Mantra Industries Limited Vs NATIONAL FACELESS ASSESSMENT CENTRE (FORMERLY KNOWN AS NATIONAL E-ASSESSMENT CENTRE) & ORS.
(2023) TaxCorp(LJ) 31271 (SC) · Section 144B(9)
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Once the assessees herein are held to be not liable to deduct the tax at source at all merely because subsequently the foreign company VOAMC is held liable to be taxed in India, the assessees herein cannot be treated as assessees in default.
Van Oord Acz India Pvt. Ltd Vs COMMISSIONER OF INCOME TAX-VI
(2023) TaxCorp(LJ) 31270 (SC) · Section 40(a)(i)
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The date of the Panchnama last drawn would be the relevant date for considering the period of limitation of two years and not the last date of authorisation.
Anil Minda and Others Vs Commissioner of Income Tax
(2023) TaxCorp(LJ) 31220 (SC)
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The transfer was not based only on surmises and conjectures as the Assessee's name was taken by some of the persons subjected to search and investigation which indicated a transfer of suspicious cash to the tune of almost Rs.20 Cr. from the Assessee's residence in Delhi.
Kamal Nath Vs THE PRINCIPAL COMMISSIONER OF INCOME TAX
(2023) TaxCorp(LJ) 31171 (SC)
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It is open for the Assessee to present its contention that it is recipient of benefit under Section 80G (5B) for a subsequent period (AY 2022-23 to 2026-27), before the CIT(E), when the matter is examined afresh.
Sant Girdhar Anand Parmhans Sant Ashram Vs THE COMMISSIONER OF INCOME TAX
(2023) TaxCorp(LJ) 31074 (SC) · Section 80G
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The order denying condonation of delay was clear, cogent and passed with the approval and sanction of PCCIT after adherence to the principles of natural justice.
Puneet Rastogi Vs PRINCIPAL CHIEF COMMISSIONER OF INCOME TAX
(2023) TaxCorp(LJ) 30982 (SC)
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The definition of Sikkimese and the reference to Sikkim Subjects Regulations, 1961 and Sikkim Subject Rules, 1961 though repealed, are relevant for the purpose of the Explanation to Section 10(26AAA) of the Income Tax Act only.
Association of Old Settlers of Sikkim and Ors Vs UNION OF INDIA MINISTRY OF FINANCE
(2023) TaxCorp(LJ) 30956 (SC)
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Revenue is directed to examine the documents and relevant papers for rendering fresh findings within four months.
Servants of People Society Vs PR. COMMISSIONER OF INCOME TAX
(2023) TaxCorp(LJ) 30929 (SC)
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Once the lessors are held to be the owners and are entitled to depreciation, the Revenue thereafter cannot be permitted with respect to the same transaction, the Respondent being the lessee are the owners and are entitled to depreciation.
Narmada Chematur Petrochemicals Ltd. (Now Known As Gujarat Narmada Valley Fertilizers Company Ltd.) Vs THE COMMISSIIONER OF INCOME TAX-III
(2023) TaxCorp(LJ) 30863 (SC)
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The special audit shall have no effect as the order was not communicated to the Assessee.
RAJIV GANDHI PROUDYOGIKI VISHWAVIDYALAYA Vs UNION OF INDIA AND OTHERS
(2023) TaxCorp(LJ) 30839 (SC)
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SC - Supreme Court Invalidates Proviso to Section 10(26AAA), Upholding Equality for Sikkimese Women and Settlers.
Association of Old Settlers of Sikkim and Ors Vs Union of India and Anr.
(2023) TaxCorp(LJ) 30793 (SC) · Section 10(26AAA)
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