Income Tax Judgements

Section 271(1)(c) cast responsibility upon the AO to reach the clear finding with respect to levy of penalty under the specific charge and if the AO fails to do so then the penalty cannot be levied as such penalty order shall not be maintainable in t

The Hon’ble Income Tax Appellate Tribunal has allowed a plea filed by E& Y challenging the IT Department demand to pay Rs. 6.60 Crores as Tax.

THE MADRAS HIGH COURT has ruled that proceedings under the Insolvency and Bankruptcy Code (IBC), 2016 cannot dilute the rights of the Income Tax Department to reopen the assessment under Section 148 of the Income Tax Act, 1961.

One important aspect which escaped the attention of the Ld. Liquidator & the bench is that there is no provision in the Code for consideration of claim of any party including govt. dues, falling due after the liquidation commencement date. Liquidator

The Hon'ble Bombay High Court in this case held that Tribunal has no power to review its own decision in the case of same assessee in earlier years

As you are aware Arbitration is one of the best Alternate Disputes Resolution process, which saves time, money and energy of the parties. The Transfer of Property Act, 1882 no where prohibits deciding of cases through arbitration. But landlord-tenant

Hon’ble Tribunal in this case rightly held that company by virtue of being incorporated u/s 8 of the Companies Act, 2013 has committed to the approving authorities under the parent legislation that its activities are for the promotion of its aforesai

In this reference at the instance of the assessee, the following two questions have been referred to this court under s. 256(1) of the I.T Act, 1961.

THE SUPREME COURT ON HELD THAT the reassessment notices issued under the unamended Section 148 of the Income Tax Act on or after April 1, 2021, will not be deemed to be invalid just because they were issued under the old law.

In the case of Tata Education and Development Trust (Taxpayer), the Mumbai Tribunal held that the amount spent for charitable purposes outside India, which is approved by the Central Board of Direct Taxes (CBDT), is allowable as qualifying applicatio