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Income Tax - Supreme Court - Case Laws

Showing 21 to 40 of 3381 Records

  • 2018 (4) TMI 716

    Validity of Section 35AC(7) of the Income Tax, 1961 inserted w.e.f. 1st April, 2017 - it is claimed that, post amendment, no donors are coming forward to donate the amount which is required for construction of the specified hospital etc. - interim relief - Held that - On the basis of undertaking given by the petitioner, SC directed that the donors who want to donate some money to the petitioner for construction of the specified hospital by the pe....... + More


  • 2018 (4) TMI 529

    Validity of reopening of assessment - notice against non existent entity - eligibility of reasons to believe - notice not addressed in the correct name - Held that - In the peculiar facts of this case, we are convinced that wrong name given in the notice was merely a clerical error which could be corrected under Section 292B of the Income Tax Act. - SLP dismissed. HC Order 2018 (2) TMI 1093 - DELHI HIGH COURT held human errors and mistakes cannot....... + More


  • 2018 (4) TMI 201

    TDS u/s 194H - payments made by the appellant to the advertising Agencies - assessee in default - Held that - High Court was right in holding that the provisions of Section 194H are applicable to the appellant because the payments made by the appellant pursuant to the agreement in question were in the nature of payment made by way of commission and, therefore, the appellant was under statutory obligation to deduct the income tax at the time of cr....... + More


  • 2018 (4) TMI 200

    Validity of the action initiated u/s 201(1) and 201(1A) - non-deduction of tax at source for periods earlier than four years prior to 31st March, 2011 - Held that - SLP dismissed. HC order confirmed 2016 (8) TMI 509 - DELHI HIGH COURT - HC has held Circular 5 of 2010 of CBDT clarifying that the proviso to Section 201(3) of the Act was meant to expand the time limit for completing the proceedings and passing orders in relation to pending cases . T....... + More


  • 2018 (4) TMI 199

    Deduction u/s 80IB - Held that - SLP dismissed. HC order confined 2017 (7) TMI 498 - MADRAS HIGH COURT - HC has held the mere fact that nut blanks were purchased from Unit I cannot be a reason to deny deduction under Section 80IB, vis-a-vis Unit II. The deduction is made available to the Assessee, vis-a-vis Unit II, as it fits the attributes of an industrial undertaking and not to the Assessee per se. As long as the Assessee has invested a substa....... + More


  • 2018 (4) TMI 198

    Disallowance u/s 37 - benefit of presumption under Section 132 (4A) - documents seized at the time of search - Held that - As argued by the petitioner that though the entire order passed by the High Court 2017 (12) TMI 1170 - KERALA HIGH COURT have gone in favour of the petitioner herein, however, while giving directions in para 14 the High Court has stated that the allowance of expenditure would be confined to the amounts revealed from the seize....... + More


  • 2018 (3) TMI 1449

    Exemption u/s 11 - religious purpose/charitable purpose - Assessee was not using its funds for public benefit but rather for the benefit of specified persons under Section 13(3) - Held That - SLP dismissed. HC order confirmed 2017 (9) TMI 532 - DELHI HIGH COURT - Activities of the Assessee Society, though both religious and charitable, were not exclusively meant for one particular religious community. It was, therefore, rightly not denied exempti....... + More


  • 2018 (3) TMI 1448

    Disallowance of expenditure in respect of interest and administrative expenses under Section 14A - Disallowance of expenditure incurred towards foreign exchange gain - Held that - SLP dismissed. HC order confirmed 2017 (5) TMI 1160 - GUJARAT HIGH COURT - HC has correctly held that the assessee was already having its own surplus fund and that too to the extent of ₹ 2319.17 Crores against which investment was made of ₹ 111.09 Crores, th....... + More


  • 2018 (3) TMI 1090

    Interest on refund of TDS - Held that - No ground to interfere with the impugned order. The special leave petition is accordingly dismissed. HC order confirmed 2017 (6) TMI 1158 - MEGHALAYA HIGH COURT - HC has held that right of receiving interest is available to the petitioners as per the statute and nothing of any estoppel could be considered operating against the petitioners over the statutory provisions contained in Section 244-A of the Act. ....... + More


  • 2018 (3) TMI 1041

    Treating the receipts from the lease of its hotel - business income OR house property income - Held that - SLP dismissed. HC order confirmed 2017 (8) TMI 193 - BOMBAY HIGH COURT . - HC has correctly observed that the business was handed over by the respondent assessee to KHIL in the year 1994 and since the assessment year 1995-96 till the assessment year 2005-06, the income from the same was assessed as a business income. The assessment for the y....... + More


  • 2018 (3) TMI 805

    Applicability of section 14A - Method for determining amount of expenditure in relation to income not includible in total income - principle of apportionment of expenses - whether the dominant purpose test, which is pressed into service by the assessee would apply while interpreting Section 14A of the Act or we have to go by the theory of apportionment - retrospective or prospective - Different decision of different High Courts - Held that - The ....... + More


  • 2018 (3) TMI 677

    Benefit of Section 80HH - proof of manufacturing - Held that - No ground to interfere with the impugned order. The special leave petition is, accordingly, dismissed. HC order confirmed 2017 (4) TMI 616 - DELHI HIGH COURT - HC has held that it was the duty and onus on the shoulder of the assessee to show that he was also engaged in manufacturing activities and the gross total income declared by it also include income from manufacturing activity an....... + More


  • 2018 (3) TMI 676

    Addition u/s 14A - Applicability of Rule 8D - whether shall be applicable retrospectively or shall be applicable from AY 2008-09? - Held that - No ground to interfere with the impugned order. The special leave petitions are, accordingly, dismissed. HC order confirmed 2017 (2) TMI 34 - GUJARAT HIGH COURT - HC has held provision of Rule 8D shall be applicable prospectively and shall not be applicable with respect to earlier assessment years. The pr....... + More


  • 2018 (3) TMI 675

    Doctrine of mutuality - receipts by cooperative societies, from its members i.e. non-occupancy charges, transfer charges, common amenity fund charges and certain other charges, are exempt from income tax - Contribution to the common amenity fund - Held that - The charges are utilised only for the common benefit of facilities and amenities to the members. Contribution to the common amenity fund taken from a member disposing property is similarly u....... + More


  • 2018 (3) TMI 56

    Accrual of income - interest on inter corporate deposits - Decision of HC 2010 (11) TMI 88 - Delhi High Court challenged - Held that - the consideration of the question has been given a full and meaningful reasoning and we agree with the same. - SC dismissed the revenue appeals. - HC has held that, The assessee-company being NBFC is governed by the provisions of the RBI Act. In such a case, interest income cannot be said to have accrued to the as....... + More


  • 2018 (2) TMI 1474

    Selection of case of scrutiny assessment - validity of notice - Attainment of requirement u/s 143(2) - deemed service of notice - High Court 2012 (12) TMI 1148 - ALLAHABAD HIGH COURT answered the question in the negative taking the view that what is required to be satisfied by the Revenue is service of notice and not mere issuance thereof - Held that - The non-availability of the respondent Assessee to receive the notice sent by registered post a....... + More


  • 2018 (2) TMI 1381

    Assessment u/s 153C - existence of satisfaction note - Held that - Special Leave Petitions are dismissed. HC order confirmed. 2017 (7) TMI 539 - DELHI HIGH COURT - HC has held that while the documents may pertain to the Assessee, but in the context explained above, they cannot be presumed to be documents that belonged to the searched person. Consequently, even with regard to these documents, the jurisdictional requirement under Section 153 C (1) ....... + More


  • 2018 (2) TMI 1295

    Specific performance of contracts - Non performing part of busniss - High Court took the view that rather than Rakesh Kumar, it was the defendants who were not willing to execute the sale deed as the requirement in terms of the agreement to sell that the defendants were obliged to obtain a no objection certificate for executing the sale deed but they had not taken any steps in that regard - Held that - As gone through the agreement to sell dated ....... + More


  • 2018 (2) TMI 1220

    Cancellation of Registration certificate u/s 12A - CIT s express power to cancel/withdraw/recall the registration certificate once granted by him under Section 12A - Held that - CIT had no express power of cancellation of the registration certificate once granted by him to the assessee under Section 12A till 01.10.2004. It is for the reasons that, first, there was no express provision in the Act vesting the CIT with the power to cancel the regist....... + More


  • 2018 (2) TMI 1217

    Addition of excise duty - valuation of closing stock made u/s 145A - special audit scope - As decided by HC 2017 (8) TMI 188 - BOMBAY HIGH COURT tax audit report of the statutory auditor and the audit report of the Comptroller & Auditor General of India shows that the impact of inclusion of excise duty in the value of closing stock stands nil, hence no additions - Held that - Application for exemption from filing certified copy of the impugne....... + More


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