SC

SC: Assessee's 'without-prejudice' offer while refuting allegations not 'undisclosed income' admission; Deletes addition

SC quashes Delhi HC order confirming AO's 'undisclosed income' addition u/s 69, holds that assessee's letters refuting allegations and a without-prejudice offer cannot be considered as admission of non-disclosed income,

Oct 21,2019

SC: Sec. 143(2)-notice issuance at assessee's address as per PAN-database, sufficient; Actual service immaterial

SC rules in favour of Revenue, quashes orders passed by lower authorities holding the assessment order as bad in law on the ground that no notice u/s. 143(2) was served

Oct 21,2019

SC: Dismisses SLP against HC-order quashing re-assessment initiation on Deepak Kochhar company

SC dismisses Revenue's SLP against Bombay HC order quashing re-assessment initiation (beyond 4 years) for AY 2011-12 against assessee (NuPower Renewables Pvt Ltd., a company founded by Mr. Deepak Kochhar);

Oct 16,2019

SC: Quashes HC order in Gautam Khaitan's case on retrospectivity of Black Money Act

SC quashes Delhi HC (Division Bench) order granting interim relief by restraining income tax authorities from taking or continuing action against Mr. Gautam Khaitan [i.e. Petitioner] for AY 2019-20, pursuant

Oct 15,2019

SC: Dismisses SLP against HC-order rejecting stamp-value based taxation u/s. 43CA in builder's hands

SC dismisses Revenue's SLP challenging Bombay HC-order quashing re-assessment on assessee-firm (a real estate developer) for AY 2013-14 initiated on the basis of partner's admission during survey proceedings that the

Oct 07,2019

SC: Loss from share trading can't be set-off against profits from derivative transactions pre-2014 amendment to Sec. 73

SC rules that loss arising from share trading (being speculative in nature for subject AY) cannot be set off against profits from business of futures & options [being non-speculative by

Sep 27,2019

SC: Dismisses SLP against HC-order quashing re-opening on Cyprus-entity

SC dismisses Revenue's SLP challenging Bombay HC order quashing re-opening u/s 148 on assessee (Cyprus company) initiated for enquiry into beneficial ownership of interest received on CCDs, by holding that

Sep 25,2019

SC: Dismisses SLP against HC-order reckoning property holding period from 'allotment letter' date

SC dismisses Revenue's SLP against Bombay HC-order considering the date of letter of allotment of flat over the date of sale agreement for determining holding period of the property; During

Sep 25,2019

SC: Larger Bench rules in Revenue's favour, denies Sec. 80HHC benefit to supporting manufacturers

SC larger bench rules in Revenue's favour in a batch of matters, denies Sec. 80HHC benefit to assessee(supporting manufacturers); HC had allowed Sec. 80HHC deduction to assessee-firm in the lead

Sep 09,2019

SC: Dismisses Revenue's SLPs involving low tax effect, applies CBDT's recent circular

SC division bench comprising of Justice Uday Umesh Lalit and Justice R. Subhash Reddy dismisses Department's SLPs citing low tax effect, applies CBDT's recent circular (dated August 8, 2019) which

Aug 20,2019

Pages

Top