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Income Tax - High Court - Case Laws

Showing 21 to 40 of 45900 Records


    The Pr. Commissioner of Income Tax, Rohtak Versus Ram Kumar Duhan

    Addition on account of investment from undisclosed source - assessee was unable to furnish any sustainable documentary evidence with regard to his contention of being a farmer and that the purchase consideration was out of his agricultural income though his returns did not reflect any agricultural income - ITAT deleted the addition - Held that - Land in the name of the assessee and Shri Niwas Thakur was shown in the audited balance sheet of the C....... + More

  • 2018 (2) TMI 980 - DELHI HIGH COURT

    Pr. Commissioner of Income Tax-6 Versus Nokia Solutions & Network India Pvt Ltd (Formerly Known As, Nokia Siemens Network Pvt Ltd)

    Assessment against non existent company - validity of reopening of assessment - Held that - It is evident from the narration of facts that in the first instance the assessment was conducted in the name of a non existing entity. The DRP to whom the matter was directed by the first remand of the ITAT, was not directed to, in turn, require the AO to better the original incurable illegality and here the DRP clearly did that. The fact that the matter ....... + More

  • 2018 (2) TMI 979 - RAJASTHAN HIGH COURT

    Pr. Commissioner of Income Tax, Udaipur Versus Shri Shanti Lal Jain, Prop. M/s Meenakshi Property Dealer, Udaipur

    Penalty u/s 271(1)(c) - concealment of income on the amount offered in the returns filed under section 153 (A) - undisclosed income - Held that - We find that all the three conditions in the present case have been fulfilled because after the search and seizure, the assessee had admitted in his statement that income has been derived from the land deals in the present case and thereafter, he filed returns in pursuance of the notice issued to him un....... + More

  • 2018 (2) TMI 882 - DELHI HIGH COURT


    Income from sale of shares - busniss income or capital gain - Held that - The decisions of the Court have emphasized five broad tests whether the income bears the character of business income or capital gain firstly, whether the company or concern is authorized in its Memorandum of constituting documents to deal with shares; (2) whether the entity had shown the shares under the head Investment ; (3) whether the assessee/entity utilized its own fu....... + More

  • 2018 (2) TMI 881 - KARNATAKA HIGH COURT


    Rejection of books of accounts - G.P. Rate determination - Held that - In the present case, it is quite evident that the Assessee had maintained the books of accounts. On that score, the ITAT is correct, however, the proceedings before the Assessing Officer and his order would reveal that there are gaps with respect to the materials sought but omitted to be produced. These related to various aspects of the Assesee s road contract construction act....... + More

  • 2018 (2) TMI 880 - KARNATAKA HIGH COURT


    Tribunal exercise of it s power u/s 254(2A) - whether tribunal could not have directed the petitioner to make additional payments to furnish bank guarantees or to maintain balance in the bank account - Held that - The Hon ble Single Judge has recorded a finding that the Tribunal, while passing orders under Section 254 (2A) has followed this Court s order 2017 (11) TMI 1609 - KARNATAKA HIGH COURT , wherein, petitioner was directed to retain 20 of ....... + More

  • 2018 (2) TMI 879 - GUJARAT HIGH COURT

    K.G. Developers Versus Deputy Commissioner of Income Tax

    Power of High court to grant interim relief to the appellant - Held that It is an undisputed fact that the demands in relation to the above referred two assessment years are outstanding. The applicant, however, has shown willingness to deposit the entire amount on such terms and conditions as may be deemed fit by this court. Moreover, under the relevant provisions of the Act, the revenue is entitled to statutory rate of interest on any delay in m....... + More

  • 2018 (2) TMI 878 - MADRAS HIGH COURT

    Canara Bank Versus The Recovery Officer, S. Ravi Shankar

    Recovery of income tax dues - Priority of Charge - mortgage of property - Secured creditor priority over the dues payable to the Income Tax Department - attachments made by the Income Tax Department over the said property - Held that - The issue is no longer res integra and has been considered in The Assistant Commissioner (CT) Versus The Indian Overseas Bank, M/s. Super Recording Co. Ltd. 2016 (12) TMI 373 - MADRAS HIGH COURT . Question No.(i) w....... + More

  • 2018 (2) TMI 877 - MADRAS HIGH COURT

    M/s. Tamil Nadu State Marketing Corp. Ltd. Versus The Chief Commissioner of Income Tax, The Commissioner of Income Tax, The Joint Commissioner of Income Tax, The Assistant Commissioner of Income Tax

    Reopening of assessment - Privilege fee paid by the petitioner/Corporation to the State Government to enjoy the exclusive privilege to sell liquor in the State of Tamil Nadu - allowable deduction in terms of Section 37 - change of opinion - Held that - Impugned reopening proceedings and the consequential assessment orders pertain to the very same assessment years, which were subject matter of appeals before the Tribunal, in which the assessee has....... + More

  • 2018 (2) TMI 876 - MADRAS HIGH COURT

    M/s. The LIC Employees Co-operative Bank Ltd. Versus The Assistant Commissioner of Income Tax, O/o. The Assistant Commissioner of Income Tax

    TDS u/s 194(A)(1) - non deuction of tds on interest payments exceeding ₹ 10,000/- - provisions under Section 40(a)(ia) invoked - assessee contended that the co-operative bank was not required to deduct tax at source from the payment of interest on time deposits of its members paid or credited before 01.06.2015 - Held that - There has not been due application of mind to the stand taken by the petitioner in their reply dated 04.12.2017. The r....... + More

  • 2018 (2) TMI 769 - ALLAHABAD HIGH COURT

    Commissioner of Income Tax Versus Shri Balaji Samaj Vikas Samiti

    Application u/s 12-AA denied - proof of charitable activities - society is getting preparation and distribution charges per child per month from the state govt., the activity in this field cannot be treated as charitable in nature - Held that - Merely because the State had itself not been able to cook and supply cooked food by way of mid-day-meals at it s schools and further because it out-sourced that part of the work, against consideration, it ....... + More

  • 2018 (2) TMI 768 - DELHI HIGH COURT

    Commissioner of Income Tax Delhi IV Versus GEE KAY Finance & Leasing Co. Ltd.

    Validity of reopening of assessment - notice issued by AO u/s 148 beyond the 04 years - necessary approval of Chief Commissioner or CIT as per the provisions of Section 151(1) had not been obtained by the Assessing Officer -scope of amendment - Held that - As quite obvious from a reading of the Board s circular, issued on 31.10.1989 hat the Revenue authorities at a higher level existed and interpreted the amendments in the manner that the Calcutt....... + More

  • 2018 (2) TMI 765 - GUJARAT HIGH COURT

    Kush Proteins PVT. LTD. Versus Pr. Commissioner of Income-Tax

    Revision petition u/s 264 in favor of assessee - amount taxed twice - Held that - The revisional powers of the Commissioner under section 264 of the Act are very wide and empowers the Commissioner to take any order of his subordinate authority into revision and further make necessary inquiry to pass such order as he thinks fit. These powers are subject to two main restrictions viz. that the order would be subject to the provisions of the Act and ....... + More

  • 2018 (2) TMI 764 - GUJARAT HIGH COURT

    Deloitte Haskins And Sells Versus Deputy Commissioner of Income Tax

    Reopening of assessment - proof of payment of recognized expenditure - eligibility of reasons to believe - assessment beyond period of four years from the end of relevant assessment year - Held that - The information on which the Assessing Officer proceeded to form a belief that the said payment was not a recognized deduction, the said payment could not have been allowed to be deduced from the income, was already on the record. This would be rele....... + More

  • 2018 (2) TMI 763 - GUJARAT HIGH COURT

    Jalil Abdulbhai Shaikh Versus Deputy Commissioner of Income Tax

    Reopening of assessment - notice issued after four years - disallowance of claim of expenditure of 30 of the receipts - Held that - As during the survey operations, the assessee was confronted with such entry in the diary and the assessee admitted that the said figure of ₹ 5,96,914/represented his unaccounted cash and professional receipts, which he had not offered to tax. While therefore filing a return in response to the notice under sect....... + More

  • 2018 (2) TMI 761 - GUJARAT HIGH COURT

    Pr. Commissioner of Income Tax Versus Claris Life Science Ltd.

    Allowing the additional claim of the assessee without filing valid revised return - Held that - A perusal of the grounds of appeal raised before the Tribunal reveals that the same relate to taking of cognizance of the revised return filed after due date prescribed under section 139(5) of the Act. - Insofar as the issue relating to the revised return is concerned, the same has attained finality by the earlier order passed by the Tribunal 2013 (3) ....... + More

  • 2018 (2) TMI 758 - KERALA HIGH COURT

    Antony Sunny Versus The Joint Commissioner of Income Tax And The Commissioner of Income Tax (Appeals) , Thrissur

    Stay of demand - Penalty u/s 271D - cash loans from parents - repayment of loan in cash to Mother - whether only impossible situations for compliance of the provision contained in Section 269SS would constitute reasonable cause within the meaning of Section 273B? - Held that - It would be inappropriate for this Court to consider the question as to whether the petitioner has made out a reasonable cause falling within the scope of Section 273B of t....... + More

  • 2018 (2) TMI 756 - ALLAHABAD HIGH COURT

    Asst. Commissioner of Income Tax-I Versus Agra Development Authority

    Power of CIT to cancel registration u/s 12A - registration order cancelled with retrospective effect - scope of amendment to section 12A - Commissioner concluded that the activity conducted by the assessee was clearly in the nature of trade and business - according to the Tribunal, the Commissioner could not have cancelled such registration w.e.f. A.Y. 2009-10 as that would refer to a date prior to the date when the power to cancel the registrati....... + More

  • 2018 (2) TMI 677 - MADRAS HIGH COURT

    M/s. T.T. Krishnamachari & Co. Versus The Assistant Commissioner of Income tax

    Reopening of assessment - aggregate fair market value of the said shares to the extent it exceeds the consideration requires to be taxed as deemed income of the assessee under the head income from other sources under Section 56(1) - Held that - The issue to be decided in the instant case are not pure questions of law, but requires in-depth consideration of the factual position and then apply the legal principles. The assessment having been comple....... + More

  • 2018 (2) TMI 676 - GUJARAT HIGH COURT

    Narendrakumar Mansukhbhai Patel Versus Income Tax Officer, Ward 1 (2) (3)

    Reopening of assessment - booking of losses through NMCE platform operating through the proper M/s. R. P. Jambuwala - Held that - There is nothing on the record that the said sum of ₹ 16.51 lacs was a loss claimed by the assessee. In fact, the balance sheet would show that the said figure was the assessee s receipt through sales. If the case of the Revenue was that after showing the sale of the commodities at ₹ 16.51 lacs, the assesse....... + More

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