In favour of Assessee Archives

Gujarat H.C : Since there was no liability to basic tax, the question of levy of additional tax did not arise

Avijit Das / July 9, 2023

High Court Of Gujarat [https://taxcaselaw.com/section-281-attachment-order-void-if-notice-to-transferee-not-given-gujarat-high-court/] Add to cart Uncategorized Pay for This Post Rated 0 out of 5 ₹100.00 Add […]

Section 281

Section 281 Attachment Order Void if Notice to Transferee Not Given: Gujarat High Court

Taxquery / June 30, 2023

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Sec. 2(15), Sec. 10(20), Section 11, Section 143, Section 263, Section 80-I

Bombay H.C : Order passed by DIT(E) is beyond the scope of Sec. 263 of the I T. Act when the subject matter of revision is applicability of proviso to Sec. 2(15) and not denial of exemption u/s. 11

Avijit Das / April 26, 2019

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Income Tax Case Laws

Bombay H.C : Whether on the facts and in the circumstances of the case and in law, the Hon’ble ITAT is correct in holding the compensation received by the appellant from Oracle Global (Mauritius) Ltd. for delay in payment of proceeds of shares tendered under the open offer includible in Capital Gains as against Interest Income ?

Avijit Das / April 19, 2019

High Court Of Bombay CIT (IT) vs. Morgan Stanley Mauritius Company Ltd. Akil Kureshi & Sarang V. Kotwal, JJ. Income

Section 111, Section 47, Section 49

Bombay H.C : The Hon ble Income Tax Appellate Tribunal was justified in reckoning the period for long term capital gains from the date of purchase of convertible debentures instead of actual date of allotment of shares on conversion from debentures

Avijit Das / March 27, 2019

High Court Of Bombay Kingfisher Capital Clo Ltd. vs. CIT (International Taxation) & Anr. Section 111, 49(2A), 47(xa) S. C.

Sec. 10(23C)

Bombay H.C : The Tribunal justified in confirming the order of the CIT(A) and directing the AO to allow exemption u/s. 10(23C)(iiiab) of the Act without appreciating the fact that the assessee is not wholly or substantially financed by the Govt. in view of explanation to sub section (1) of section 14 of the Comptroller and Auditor General (Duties, Powers and Conditions of Services) Act, 1971 as the total Govt. grant during the year is less that 75% of the total expenditure of the assessee

Avijit Das / March 26, 2019

High Court Of Bombay The Director Of Income Tax (Exemptions) vs. TATA Institute Of Social Science Section 10(23C)(iiiab) and Section

Section 55, Section 263

Delhi H.C : Whether the Tribunal is correct in law in holding that assumption of jurisdiction by the CIT, under Section 263 of the Act, was illegal?

Avijit Das / March 20, 2019

High Court Of Delhi CIT vs. Sunil Lamba Section 55(2)(a), 263 Asst. Year 1995-96 S. Muralidhar & Sanjeev Narula, JJ.

Section 24, Sec. 194-I, Sec. 36(1)(iii), Section 154

Delhi H.C : The Assessee had paid compensation amount “once and for all to repurchase the property” and this was “in fact a sale consideration and cannot be allowed as business expenditure.”

Avijit Das / March 20, 2019

High Court Of Delhi Gopal Das Estates & Housing Pvt. Ltd. & ORS. vs. CIT & Ors. Section 24, 36(1)(iii),

Sec. 41(1), Section 41

Madras H.C : Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding the amount received towards Capital Subsidy from M/s. Royal Sun and Alliance Pic, for infusion of additional capital by the appellant in the joint venture company as per the terms of Letter of Intent, dated 05.04.2000 is revenue receipt chargeable to tax?

Avijit Das / March 6, 2019

High Court Of Madras Sundaram Finance Limited vs. Assistant Commissioner Of Income Tax Section 41(1)(b) Asst. Year 2002-2003 Dr. Vineet

Income Tax Case Laws

Madras H.C : The Internal Rate Return (IRR) method is the appropriate method of income recognition in hire purchase transaction as against the Eguated Sum (ESM) method regularly followed by the Appellant

Avijit Das / March 5, 2019

High Court Of Madras Sundaram Finance Limited vs. Assistant Commissioner Of Income Tax-1 Dr. Vineet Kothari & C. V. Karthikeyan,