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Income Tax - Supreme Court - Case Laws

Showing 81 to 100 of 3381 Records

  • 2017 (11) TMI 523

    Validity of reopening of assessment - mere change of opinion - Held that - pecial Leave Petition is dismissed both the ground of delay as well as on merits. HC order confirmed 2017 (1) TMI 816 - BOMBAY HIGH COURT - HC has stated that this is a case where the Assessing Officer did apply his mind as evidenced by the query raised to the very issue which is now sought to be raised as the basis for reopening the notice and the Assessing Officer was sa....... + More


  • 2017 (11) TMI 268

    Deduction of business expenditure - Absence of actual business activity - as contented by petitioner that a vital aspect is ignored by the Court below namely, the petitioner herein had filed the return for the Assessment Year 2008-09, for which the assessment was also made, which clearly proves that the business had commenced during the Assessment Year 2008-09 - Held that - Before considering this statement further, we would like the petitioner t....... + More


  • 2017 (11) TMI 78

    Scope and interpretation of Section 44BB - Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils - inclusion of amounts received for mobilisation/demobilisation to the gross revenue to arrive at the profits and gains for the purpose of computing TAX u/s 44BB by AO - Held that - Having corrected the position in law, by emphasising that Sections 4, 5 and 9 of the Act are to be kept i....... + More


  • 2017 (10) TMI 1279

    Deemed dividend - decision in the case of COMMISSIONER OF INCOME TAX Versus ANKITECH PVT LTD. & OTHERS 2011 (5) TMI 325 - DELHI HIGH COURT referred - Held that - the judgment is a detailed judgment going into Section 2(22)(e) of the Income Tax Act which arises at the correct construction of the said Section. We do not wish to add anything to the judgment except to say that we agree therewith........ + More


  • 2017 (10) TMI 1275

    Monetary limit for filing an appeal - Tax effect less than the prescribed limit Power of CBDT to give instruction with retrospective effect - circular dated 10th December, 2015 - Held that - This Court in the case of Suman Dhamija 2015 (9) TMI 239 - SUPREME COURT has held that, instructions/circular dated 9.2.11 is not retrospective in nature and they shall not govern cases which have been filed before 2011, and that, the same will govern only su....... + More


  • 2017 (10) TMI 1274

    Reopening of assessment - expenses on films/Tapes of TV serials allowability - change in opinion - Held that - SLP dismissed. HC Order confirmed 2017 (10) TMI 1273 - DELHI HIGH COURT . - High Court has held that, As full facts relating to debited expenses on account of expenses on films/Tapes of TV serials were available before the A.O. at the time of framing the original assessment order. All other material facts were already disclosed fully and....... + More


  • 2017 (10) TMI 1011

    Income accrued in India - fixed place PE in India - DTAA - place of business in India - Held that - It is clear that there must exist a fixed place of business in India, which is at the disposal of the US companies, through which they carry on their own business. There is, in fact, no specific finding in the assessment order or the appellate orders that applying the aforesaid tests, any fixed place of business has been put at the disposal of thes....... + More


  • 2017 (10) TMI 1010

    Non-compete agreement - gain considered to be long term capital gain - Whether the ITAT was justified in holding that the amount paid by the Company to the assessee in terms of the agreement dt. 24.5.1999, would not fall within the meaning of words right to manufacture, produce or process any article or thing but, within the meaning of the words right to carry on any business? - Held that - SLP dimissed. HC order confirmed 2017 (4) TMI 413 - RAJA....... + More


  • 2017 (10) TMI 732

    Additional depreciation claim @ 20% under Section 32 1 (iia) - machinery purchased before 31st March 2005, but installed after 31st March 2005 ? - Held that - SLP dismissed. HC order confirmed 2017 (2) TMI 644 - GUJARAT HIGH COURT saying that the provision of section 32(1)(iia) of the IT Act is required to be interpreted reasonably and purposively as the strict and literal reading of section 32(1)(iia) of the IT Act will lead to an absurd result ....... + More


  • 2017 (10) TMI 692

    Penalty u/s 271(1)(c) - revision downwards could not be justified - Held that - SLP dismissed. HC Order confirmed 2016 (10) TMI 1117 - DELHI HIGH COURT stating the assessee is guilty of furnishing inaccurate particulars of income is inappropriate as the Assessing Officer at any point of time has not scrutinized 2003-2004 of the assessment on records and issued any notice before the filing of revised return. Thus, when the error was known to the a....... + More


  • 2017 (10) TMI 423

    Claim of depreciation under Section 80-IA - Whether the eligible income of an undertaking in respect of which deductions available under Section 80-IA has to be reduced by the allowance of depreciation for the year even though the assessee has exercised the option not to claim depreciation under Section 32 in arriving at its income of the undertaking for the purposes of computing the assessee s income under the head profits and gains of business ....... + More


  • 2017 (10) TMI 323

    Income from capital gain - transfer exigible to tax by reference to Section 2(47)(v) of the Income Tax Act, 1961 read with Section 53-A of the Transfer of Property Act, 1882 - rights emanating from the JDA, legal effect of non registration of JDA, its alleged repudiation etc. - delivery of possession - Held that - As has been stated there is no contract in the eye of law in force under Section 53A after 2001 unless the said contract is registered....... + More


  • 2017 (10) TMI 322

    Special provision for computing profits and gains in connection with the business of exploration, etc., of mineral oils u/s 44BB - Tender for two platform facilities for off-shore oil exploration and drilling - sub-contractor liability to pay various amounts by way of tax, both under Section 44BB - whether Clause 13.2.8 would not come in the way of ONGC having to pay amounts paid by the sub-contractor by way of tax because of a change in law? - H....... + More


  • 2017 (9) TMI 1588

    Surrender made by the assessee in the course of the survey and confirmed two months later in writing - retraction made by the Assessee two years after the declaration - No reason to entertain this special leave petition, which is, accordingly, dismissed. - HC order confirmed 2017 (5) TMI 172 - DELHI HIGH COURT as Court is not satisfied that the retraction made by the Assessee two years after the declaration was bonafide. There was no satisfactory....... + More


  • 2017 (9) TMI 1587

    Registration as a Trust under Section 12AA cancelled - proof of charitable object of trust - HC has held 2016 (9) TMI 307 - DELHI HIGH COURT formal deed of trust was not necessary for the grant of registration under Section 12A/12AA of the Act. It is not necessary that present aims and objects of the Trust should be the same at the time of its establishment and registration u/s 12AA allowed - Held that - We do not find it to be a fit case for int....... + More


  • 2017 (9) TMI 1532

    Tax on the enhanced amount of compensation - Income assessed for income tax - receipt of enhanced compensation and interest thereon under an interim order passed by the High Court in pending appeals relating to land acquisition matter - Held that - See case of Commissioner of Income Tax, Faridabad v. Ghanshyam (HUF) (2009 (7) TMI 12 - SUPREME COURT) wherein the provisions of Section 45(5) of the Income Tax Act, 1961 were considered and this Court....... + More


  • 2017 (9) TMI 1531

    Violation of sections 276C(2) and 277 - making false statements - error committed by the clerk of the chartered accountant - contention of the petitioner is that the tax amount is less than ₹ 25,000 and therefore an attempt to evade tax is covered by the circular - Held that - The present appeals are from a judgment of the High Court of Karnataka 2016 (10) TMI 1113 - KARNATAKA HIGH COURT in which the High Court has refused to quash the proc....... + More


  • 2017 (9) TMI 1300

    Constitutionality of validity Section 115O - the additional tax as levied by Section 115O on the dividend declared, distributed or paid - Calcutta High Court has upheld the constitutionality of Section 115O, but a rider has been put that additional income tax to be charged under Section 115O can only be on 40 per cent of income which is taxable under Income Tax Act. - Held that - This Court in Mrs. Bacha F Guzdar (1954 (10) TMI 2 - SUPREME Court)....... + More


  • 2017 (9) TMI 1299

    Concealment of income - search conducted on a train by the police authorities - Block assessment - employee of the appellant was returning from Amritsar by train and were found in the possession of ₹ 30 lacs cash in a search by Railway Police - appellant submitted that the proceedings initiated u/s 132 were invalid as it cannot be based on a search conducted on a train by the police authorities and, therefore, the proceedings initiated for ....... + More


  • 2017 (9) TMI 828

    Reopening of assessment - capital gain - share of assessee in property sold - Held that - No merit in this petition. The special leave petition dismissed. HC order confirmed. 2017 (7) TMI 462 - GUJARAT HIGH COURT - We cannot come to the conclusion that the reasons recorded by the Assessing Officer lacked validity so as to prevent even the assessment to be made. As is well settled, as long as the Assessing Officer has tangible material at his comm....... + More


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