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Newly Incorporated Trust is entitled to 12AA benefits
Case Covered: M/S. ANANDA SOCIAL AND EDUCATIONAL TRUST Versus THE COMMISSIONER OF INCOME TAX & ANR. Facts of the case: This appeal has been preferred by the appellant – Director of Income Tax against the impugned judgment and order passed by the Delhi High Court
HUF can’t be taxed after partition
Case Covered: Shri S. Krishnappa (HUF) Versus Deputy Commissioner of Income Tax Facts of the case: This appeal is filed by the assessee and the same is directed against the order of learned CIT(A)-4, Bengaluru, dated 20.01.2011 for the Assessment Year 2005-06. In the course
Forex Loss is Revenue Expenditure: M/s Coffee Day
Case Covered: The Deputy Commissioner of Income-tax Versus M/s. Coffee Day Global Limited Facts of the case: The facts of the issue as narrated in ITA No. 3040/Bang/2018 are that the Assessing Officer by placing reliance on the CBDT Circular No. 5/2014 dated 11/02/2014 quantified
Get recordings of all our webinars: Join CEUU
Join CEUU: What you do in those hours when you feel directionless. Spend your time in sharpening your edges. We have compiled the recordings of all our webinars. These webinars include GST, litigation, income tax and IBC. We will introduce other relevant topics also. Following
faceless tax-assessment system “can lead to erroneous assessment”-Madras HC
Case covered: Salem Sree Ramavilas Chit Company Versus The Deputy Commissioner of Income Tax Facts of the case: In the Writ Petition, the petitioner has challenged the impugned order passed by the respondent on 27.12.2019 in respect of the amount received by the petitioner post
If AO has accepted the sale, the entire purchase can’t be disallowed
Case covered: Pr.Commissioner of Income Tax Versus Rishabhdev Tachnocable Ltd. Facts of the case: This appeal has been preferred by the Revenue under Section 260A of the Income Tax Act, 1961 (briefly “the Act” hereinafter) against the order dated 3rd November 2016 passed by the
Madras High Court upheld the Constitutional Validity of Sec 234(F)
Case covered: K.Nirai Mathi Azhagan Versus Union of India Facts of the case: The petition filed under Article 226 of the Constitution of India praying for the issuance of a writ of declaration, to declare Section 234(F) of the Income Tax Act, 1961 inserted by
Penalty can’t be levied on Erroneously Seized Amount: Supreme Court
Case covered: KISHORE JAGJIVANDAS TANNA VERSUS JOINT DIRECTOR OF INCOME TAX Order: Leave granted. Despite opportunities, the respondents have not filed a reply. Learned Senior Counsel for the respondents states that they do not wish to file a response and the appeal may be decided.
Two important cases of Income-tax
CASE-I Case covered: Pr. Commissioner of Income Tax -1 .. Appellant Versus M/s. Ami Industries (India) P Ltd .. Respondent Facts of the case: This appeal under Section 260A of the Income Tax Act, 1961 (“the
ट्रिब्यूनल ने 148 के लिए सीआईटी की अप्रूवल को माना हाइपर मैकेनिकल प्रोसीडिंग
ट्रिब्यूनल ने 148 के लिए सीआईटी की अप्रूवल को माना हाइपर मैकेनिकल प्रोसीडिंग quash की। माननीय जयपुर ट्रिब्यूनल ने अपने हाल ही के दिनांक 25.11.2019 के एक फैसले में यह रूलिंग दी कि सीआईटी की अप्रूवल हाइपर मैकेनिकल है व प्रोसीडिंग quash कर दी। झुंझुनूं
Changes in Income Tax Returns AY 2019-20
This presentation on Changes in Income Tax Returns AY 2019-20 has been prepared for academic use only for sharing knowledge on the subject. Change in e-filing mode Compulsory e-filing w.e.f. AY 2019-2020, only individuals with age > 80 years can now file paper return in
Hon’ble Supreme Court Ruling on Section 68 (Cash Credits)
Hon’ble Supreme Court Ruling on Section 68 (Cash Credits) Summary of Hon’ble Supreme Court ruling on Section 68 of Income Tax, 1961 Recently two judges’ bench of Hon’ble Supreme Court in the case of NRA Iron & Steel Pvt. Ltd. vs. Principal Commissioner of Income