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Income Tax Judgements

This order of ITAT Mumbai, upheld by the Bombay High Court further establishes the principle that for an income to accrue to a person, corresponding liability to pay should also arise to the other party.

Posted in Income Tax |   504 Views

Many a times, we come across cases where the invoice has been raised close to the cut-off date, i.e. closer to the end of a financial year and the customer has accounted for and paid the invoice amount, as well as deducted and deposited the tax at ap

Posted in Income Tax |   529 Views

The present appeal has been filed by the Director of Income Tax ('Appellant') against the impugned judgment passed by the Hon'ble Delhi High Court ('Delhi HC') holding that a newly registered Trust is entitled for registration under section 12AA of t

Posted in Income Tax |   549 Views

The Hon'ble Supreme Court in the matter of Union of India v. Adfert Technologies Pvt. Ltd. [SLP No. 4408 dated February 28, 2020] has rejected a Special leave Petition filed by the department against the order of the Hon'ble HC, Punjab and Haryana al

Posted in Income Tax |   460 Views

Assessee is a Partnership firm involved in the business of banking and registered under the Kerala Money Lending Act.Notice u/s 148 of the Act was issued to the respondent-assessees. The firm had accepted payments from the partners, during the releva

Posted in Income Tax |   5558 Views

The Petitioner, Vodafone India Services Pvt. Ltd., is a wholly owned subsidiary of a non-resident company, Vodafone Tele-Services (India) Holdings Limited (the holding company). In AY 2009-10,the Petitioner issued equity shares on a premium to its ho

Posted in Income Tax  1 comments |   3758 Views

The assessee, a Chartered Accountant, was subjected to search u/s 132 of the Income Tax Act, 1961, for providing accommodation entries in form of share loss or share gain by issuing bills for shares without actual sale and purchase by the party menti

Posted in Income Tax  1 comments |   4991 Views

In AY 1985-86, the Assessee had paid interest on deposits and claimed deduction under section 80V of the I.T. Act 1961 as the said deposits were primarily obtained for the payment of taxes under the I.T. Act. The Assessing Officer rejected the claim

Posted in Income Tax |   3689 Views

Appellantis a NBFC in thebusiness of investments in shares and securities, money lending and finance. 10 companies merged with the assessee company w.e.f. 1.4.2007. The assessee filed its original return declaring loss of Rs.1,90,84,382/- on 30.9.200

Posted in Income Tax |   5828 Views


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