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The grievance of the petitioner is now within a narrow compass. Matter is with respondent No.5 (CPC) which will intimate the petitioner regarding processing and release of refund the said respondents have admitted that certain amount of refund is due to the petitioner.
TATA Communications Limited Vs Union of India and ors.
(2021) TaxCorp(LJ) 26018 (HC-BOMBAY)
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The assessee is entitled to deduction to the extent provision made in the accounts subject to limit mentioned in Section 36(1)(viia) of the Act.
BANK OF BARODA Vs THE ADDITIONAL COMMISSIONER OF INCOME - TAX & ORS.
(2021) TaxCorp(LJ) 26017 (SC) · Section 36(1)(viia)
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Merely because the investment was considerably large and as noted, several corporate structures were either created or came into play in routing the investment in the assessee through P5AHIML would not be sufficient to brand the transaction as colourable device.
PR. COMMISSIONER OF INCOME TAX 14 Vs M/S. ADITYA BIRLA TELECOM LTD
(2021) TaxCorp(LJ) 26016 (SC) · Section 68
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Since the nature of the assessee’s business itself is to receive deposits, Sec. 269SS was inapplicable.
COMMISSIONER OF INCOME TAX Vs M/S SAHARA INDIA FINANCIAL CORP. LTD.
(2021) TaxCorp(LJ) 26015 (SC) · Section 269SS
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Reopening of assessment beyond 4 years is permitted only if income escapes assessment by way of failure on the part of assessee to disclose all material facts.
PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL III) & ANR. Vs BPTP LIMITED
(2021) TaxCorp(LJ) 26014 (SC)
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Section 36(1)(vii) of the Act mandates that in order to claim bad debts, the assessee has to write off the same in its books and the assessee is not required to prove that the debt is irrecoverable.
Big Bags International (P) Ltd Vs The DCIT
(2021) TaxCorp(LJ) 26013 (HC-KARNATKATA) · Section 36(1)(vii)
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A curative amendment to avoid unintended consequences is to be treated as retrospective in nature even though it may not state so specifically.
Maria Fernandes Cheryl Vs Income Tax Officer
(2021) TaxCorp(LJ) 26012 (ITAT-MUMBAI) · Section 50C
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GAV computed by the AO by ignoring the provisions contained u/s 23(1)(a) of the Act is not sustainable in the eyes of law.
DCIT Vs M/s. Religare Support Limited
(2021) TaxCorp(LJ) 26011 (ITAT-DELHI) · Section 23(1)
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As much as the nexus is required to be between salaries and wages vis-à-vis the employment, the nexus is also required between other similar benefits vis-à-vis the employments.
Unnikrishnan V S Vs Income Tax Officer
(2021) TaxCorp(LJ) 26010 (ITAT-MUMBAI)
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Acquainting someone in a formal manner with techniques to boost sales does not stand at par with rendering marketing services. Simply equipping or enabling the others for doing an activity is a step anterior to rendition of such services.
M/s. Sandvik AB Vs DCIT (IT)
(2021) TaxCorp(LJ) 26009 (ITAT-PUNE)
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Extension of due date for filing ROI: (i) The CBDT has vide order dated 11.01.2021 decided not to grant further extension of time. The Court cannot go into the issues which weighed with the CBDT in taking the decision and substitute the same with its own view. Interference by the Court, at this point of time, in matters relating to the Revenue may have far reaching implications. It may upset the entire functioning of the Government and may lead to undesirable results. (ii) However, the CBDT may consider issuing an appropriate circular taking a lenient view as regards the consequences of late filing of the Tax Audit Reports as provided u/s 271B of the Act. We leave it to the better discretion of the CBDT.
The All Gujarat Federation Of Tax Consultants vs. Union Of India
(2021) TaxCorp(LJ) 25000 (HC-GUJARAT)
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Merely non maintenance on books of account cannot lead to higher NP.
SANTOSH KUMAR AGRAHAI vs. INCOME TAX OFFICER
(2021) TaxCorp(LJ) 24999 (ITAT-ALLAHABAD)
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The petition for seeking an extension of Due date for Tax Audit Reports & Income Tax Returns has been rejected.
THE ALL GUJARAT FEDERATION OF TAX CONSULTANTS
(2021) TaxCorp(LJ) 24993 (HC-GUJARAT) · 271B
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The giving of loans by a primary agricultural credit society to non-members is not illegal.
THE MAVILAYI SERVICE COOPERATIVE BANK LTD. & ORS.
(2021) TaxCorp(LJ) 24992 (SC) · 80P
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Though the CBDT has extended the due dates for filing the ITR & TAR to 10.01.2021 & 15.02.2021 due to the Covid-19 pandemic situation, it should look into the question of further extension bearing in mind that the time period for the officials of the tax department has been extended upto 31.03.2021. Some extension deserves to be considered in accordance with law.
The All Gujarat Federation Of Tax Consultants vs. Union Of India
(2021) TaxCorp(LJ) 24991 (HC-GUJARAT)
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Powers of CBDT are beneficial in nature to be exercised for proper administration of fiscal law so that undue hardship may not be caused to the taxpayers the purpose is of just, proper and efficient management of the work of assessment and the public interest.
THE ALL GUJARAT FEDERATION OF TAX CONSULTANTS Vs UNION OF INDIA
(2021) TaxCorp(LJ) 24984 (HC-GUJARAT)
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The expenditure incurred for the purpose of CSR is not deemed to have incurred for the purpose of business and hence cannot be allowed u/s 37(1).
M/s. FNF India Private Ltd. Vs The Assistant Commissioner of Income Tax
(2021) TaxCorp(LJ) 24983 (ITAT-BANGALORE) · Section 80G
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The rental income derived out of sub- leasing activity may get taxed under the head income from house property as per certain provisions of the Act and judicial precedents.
M/s. Prolific Consultancy Services (Mumbai) Pvt. Ltd. Vs Income Tax Officer
(2021) TaxCorp(LJ) 24982 (ITAT-MUMBAI)
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Receipt of software licence fees by assessee from its Indian subsidiary, constitutes reimbursement of software licence fees paid by assessee to a third party, and, therefore, it cannot constitute income taxable in the hands of the assesse.
SCA Hygiene Products AB Vs Deputy Commissioner of Income Tax International Taxation 4(2)(1)
(2021) TaxCorp(LJ) 24975 (ITAT-MUMBAI)
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The answer lies in the provisions of section 56 (2) (vii) second proviso which states that clause (vii) was not apply to any some of money or any property received from (g) any trust or institution registered u/s.12 AA.
Maninder Singh Vs ACIT
(2021) TaxCorp(LJ) 24974 (ITAT-DELHI) · Section 56(2)(vii)
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