Month: April 2018

Madras H.C : The assessment, in respect of the private limited company was completed under Section 143 (3) read with Section 153(C) read with Section 153A of the Income Tax Act

High Court Of Madras Vasan Health Care Pvt. Ltd. vs. Assistant Commissioner Of Income Tax Section 143(3), 153(C), 234A Asst. Year 2011-12 to 2016-17 T. S. Sivagnanam, J. Writ Petition Nos.6040 to 6052 of 2018 and W.M.P.Nos.7441, 7443, 7445, 7447, 7449, 7451, 7452, 7454, 7456 & 7458 of 2018 28th April, 2018 Counsel Appeared: P.H. Arvindh …

S.C : Whether the export house premium received by the assessee is includible in the “profits of the business” of the assessee while computing the deduction under Section 80HHC of the Income Tax Act, 1961?

Supreme Court Of India CIT vs. Carpet India Section 80HHC, 28 Asst. Year 2001-2002 R. K. Agrawal & Abhay Manohar Sapre, JJ. Civil Appeal No. 4590 OF 2018, 4601 OF 2018, 4602 OF 2018, 4591 OF 2018, 4597 OF 2018, 4599 OF 2018, 4592 27th April, 2018 R. K. AGRAWAL, J. Leave granted. The above batch …

Madras H.C : Whether the assessment order passed by the Income Tax Officer under Section 143(3) of Income Tax Act, invoking Section 147 of the Income Tax Act, (hereinafter referred to as “the I.T. Act”) after issuing notice under Section 148 of the Act is bad in law and is void ab initio on account of the failure to follow the judgment of the Hon’ble Supreme Court in GKN Driveshafts (India) Ltd. vs. Income Tax Officer, (2002) 125 Taxman 963 (SC) to the effect that on receipt of objection given by the assessee, to the notice under Section 148, the Assessing Officer is bound to dispose of the objections by passing a speaking order, is the core issue raised in this intra court appeal for our adjudication

High Court Of Madras Home Finders Housing Ltd. vs. ITO Section 147, 148 K. K. Sasidharan & R. Subramanian, JJ. W.A. No. 463 OF 2017 25th April, 2018 Reassessment—Non-disposal of objections—Validity—Limitation—Assessee was real estate promoter—AO was of view that income chargeable to tax had escaped assessment—AO therefore decided to invoke section 147 and issued notice Counsel …

S.C : The software development charges are to be excluded while working out the deduction admissible under Section 10A of the IT Act on the ground that such charges are relatable towards expenses incurred on providing technical services outside India

Supreme Court Of India CIT vs. HCL Technologies Ltd. Section 10A, 80HHC and 80HHE R. K. Agrawal & R. Banumathi, JJ. Civil Appeal Nos. 8489-8490 OF 2013, 8535 of 2013, 8555-8556 of 2013, 7853 of 2012, 8789 of 2012, 8559 of 2013 24th April, 2018 R. K. AGRAWAL, J. Leave granted. These appeals have been filed …

S.C : The rate of interest offered to the PSUs for making huge term deposits was to the extent of 12.75% of interest on fixed deposits against the approved 8% rate of interest in accordance with the RBI directions

Supreme Court Of India Deputy Commissioner Of Income Tax vs. T. Jayachandran Section 143(3) Asst. Year 1991-92 R. K. Agrawal & Navin Sinha, JJ. CIVIL APPEAL NO. 4341 OF 2018, 4342-4343 OF 2018, 4349-4350 OF 2018, 4344 OF 2018, 4346-4348 OF  2018, 4351 24th April, 2018 R. K. AGRAWAL, J. 1. Leave granted. 2. The present …

Delhi H.C : Whether the Income Tax Appellate Tribunal was correct in law in deleting an addition of Rs.51,00,000/-being the undisclosed income although the assessee himself admitted in his statement before the Income Tax Authorities that he had paid money to buy these gifts

High Court Of Delhi CIT & Anr. vs. M. S. Aggarwal & Anr. Section 132 Sanjiv Khanna & Prathiba M. Singh, JJ. Income Tax Appeal No. 169/2005, 895/2008 23rd April, 2018 Counsel Appeared: Asheesh Jain, Senior Standing Counsel with Shahrukh Ejaz and Prashant Bhargava, Advocates for the Petitioner.: Salil Kapoor, Sanat Kapoor, Ananya Kapoor, Soumya Singh …
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