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Income Tax - Supreme Court - Case Laws

Showing 41 to 60 of 3381 Records

  • 2018 (2) TMI 1163

    Purpose of setting up High Power Committee appellant - CIT, Delhi has been directed to approach the High Powered Committee for permission/clearance of Committee on Disputes for filing appeal by relying upon a decision of this Court in the case of Oil & Natural Gas Commission v. CCE (1994 (1) TMI 88 - SUPREME COURT OF INDIA). - Learned senior counsel has invited our attention to the Constitution Bench judgment of this Court in the case of Elec....... + More


  • 2018 (2) TMI 883

    Application for stay under Section 254(2A)- HC 2018 (1) TMI 750 - BOMBAY HIGH COURT has held a petitioner seeking an extra ordinary relief from the Court is not only expected to come with clean hands but so keep it, till the disposal of the petition and the conduct of the petitioner during the pendency of the petition disentitles it to any relief under Article 226 of the Constitution of India. Therefore we dismiss the petition - Held that - Exemp....... + More


  • 2018 (2) TMI 607

    Validity of reopening - Validity of notice u/s 148 when scrutiny assessment was made but same was annulled - doctrine of merger - Held that - SLP dismissed. HC order confirmed 2017 (8) TMI 241 - GUJARAT HIGH COURT - HC has held that the reopening is based on the belief of the Assessing Officer that the sale proceeds should be taxed as the business income and not as capital gain. This subject matter was not a part of the order of the Commissioner ....... + More


  • 2018 (2) TMI 606

    Addition u/s 68 - Held that - SLP dismissed. The findings of fact recorded therein were correctly held by the impugned judgment not to raise any substantial question of law. HC order confirmed 2014 (4) TMI 485 - BOMBAY HIGH COURT . - HC has held that Entries on the basis of cash books were written and maintained systematically - they were in the books of accounts of the assessee in respect of his unaccounted business - it cannot be said that the ....... + More


  • 2018 (2) TMI 115

    Effect of section 14A amendment - Whether sub-section (2) and sub-section (3) of Section 14A inserted with effect from 01.04.2007 will apply to all pending assessments? - Whether Rule 8D is retrospectively applicable? - Method for determining amount of expenditure in relation to income not includible in total income - Held that - Applying the principles of statutory interpretation for interpreting retrospectivity of a fiscal statute and looking i....... + More


  • 2018 (2) TMI 62

    Assessment u/s 153C - existence of satisfaction note - Held that - The Special Leave Petition is dismissed. HC order confirmed 2017 (7) TMI 539 - DELHI HIGH COURT wherein held 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) of th....... + More


  • 2018 (1) TMI 1312

    Reopening of assessment - reasons to believe - Held that - Issue notice on the application for condonation of delay as well as on the special leave petition. There shall be stay of operation of the impugned judgment 2017 (1) TMI 1528 - DELHI HIGH COURT ........ + More


  • 2018 (1) TMI 1159

    Deemed dividend u/s 2(22)(e) - whether Section 2(22)(e) gets attracted inasmuch as a loan has been made to a shareholder, who after the amendment, is a person who is the beneficial owner of shares holding not less than 10% of the voting power in the Company - whether the loan is made to any concern in which such shareholder is a partner and in which he has a substantial interest, which is defined as being an interest of 20% or more of the share o....... + More


  • 2018 (1) TMI 905

    Application filed u/s 254 (2) seeking rectification - Held that - SLP dismissed. HC order confirmed 2018 (1) TMI 860 - DELHI HIGH COURT wherein held as already affirmed the order of the ITAT which is sought to be rectified, this Court is not inclined to interfere with its subsequent order declining to rectify the said order. Secondly, the Court finds that the ground on which such rectification was sought was far beyond the scope of the powers of ....... + More


  • 2018 (1) TMI 814

    Validity of assessment - Assessments for Assessment Year 2008-09 pending on the date of the search - Held that - SLP dismissed. HC order confirmed . 2017 (7) TMI 746 - DELHI HIGH COURT ....... + More


  • 2018 (1) TMI 519

    Transfer of cases - Notice under Section 158BC by assessee with Nagpur I.T.O. sufficient to apply bar under Section 124(3) in the matter - Held that - The special leave petition is dismissed. HC order confirmed 2017 (7) TMI 695 - BOMBAY HIGH COURT - HC has held that all the proceedings taken between 6.7.1999 till the Order dated 18.1.2000 by the Deputy Commissioner of Income Tax, Nagpur become regular and he will retrospectively enjoy the status ....... + More


  • 2018 (1) TMI 518

    Revision u/s 263 - disallowability of expenditure on account of sales tax - Compound Levy Scheme applicability - Held that - The special leave petition is dismissed. HC order confirmed. 2017 (8) TMI 372 - PUNJAB AND HARYANA HIGH COURT - As held by HC once the assessee had shown that the sales appearing in the balance-sheet were inclusive of sales tax, there was no occasion to disallow the claim made by the assessee relating to payment of sales ta....... + More


  • 2018 (1) TMI 517

    Issue not been taken into consideration by the High Court - whether the oral arguments were advanced on substantial question No.3 raised in the Memo of Appeal filed before the High Court under Section 260A? - affidavit has been filed on behalf of the appellant in which it has been stated that the issue of powers of Commissioner (Appeals) had come in appeal under Rule 46A and were specifically raised before the High Court - Held that - In view of ....... + More


  • 2018 (1) TMI 516

    Appellant shall examine as to whether the oral arguments were advanced on substantial question No.3 raised in the Memo of Appeal filed before the High Court under Section 260A of the Income Tax Act - List on 29.08.2017........ + More


  • 2018 (1) TMI 290

    Seeking review of judgment The Citizen Co-Operative Society Limited, Through Its Managing Director, Hyderabad Versus Assistant Commissioner of Income Tax 2017 (8) TMI 536 - SUPREME COURT as held appellant cannot be treated as a co-operative society meant only for its members and providing credit facilities to its members. We are afraid such a society cannot claim the benefit of Section 80P of the Act - Held that - As gone through the review petit....... + More


  • 2017 (12) TMI 1320

    Exemption u/s 10B - Held that - Application for change in the cause title is allowed. Having gone through the impugned judgment of the High Court 2011 (10) TMI 423 , we find no infirmity in the same. - Mr. K. Radhakrishnan, learned Senior Counsel, appearing for the petitioner(s), has appealed to us that para 10 of the impugned judgment is extremely unfair to the Department and the imposition of costs of ₹ 1 lakh was wholly uncalled for. - P....... + More


  • 2017 (12) TMI 1068

    Condonation of delay - Held that - There is a delay of 353 days in preferring this special leave petition which has not been satisfactorily explained. Even the tax effect is approximately ₹ 8 lakhs. For these reasons the special leave petition is dismissed. HC ref case 2016 (9) TMI 1399 - ALLAHABAD HIGH COURT ....... + More


  • 2017 (12) TMI 1067

    Depreciation of assets acquired by assessee trust - the capital expenditure is treated as application of income for charitable purposes - Held that - As in Commissioner of Income Tax v. Institute of Banking Personnel Selection (IBPS) 2003 (7) TMI 52 - BOMBAY High Court correctly states the principles of law and there is no need to interfere with the same. - It may be mentioned that most of the High Courts have taken the aforesaid view with only e....... + More


  • 2017 (12) TMI 1010

    Disallowance of Depreciation - appellant is a charitable institution u/s 12A AO held that the assessee claims expenditure for acquisition of assets claiming depreciation in the computation of income though the appellant enjoys a 100% write off of the cost of assets resulting in double deduction of capital expenditure assessee contented that the system of allowing depreciation was followed by the assessee for several years - Held that - On perusal....... + More


  • 2017 (12) TMI 816

    Nature of receipt under the subsidy scheme - whether was not in the nature of a helping hand to the trade but was capital in nature - subsidy scheme of the State Government took the form of an exemption of entertainment duty in Multiplex Theatre Complexes newly set up, for a period of three years, and thereafter payment of entertainment duty @ 25% for the subsequent two years - Held that - As stated in the statement of objects and reasons, of the....... + More


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