Income Tax Judgements
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
SC dismisses SLP against HC order in Adfert case allowing to file/ revise TRAN-1
Bimal Jain 06 March 2020 at 10:05
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
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
Whether capital receipts received by an assessee on issue of equity shares to its non-resident holding entity and the short-fall between fair market price and issue price of its equity shares can be considered as income within the meaning as defined under the Income Tax Act, 1961?
Hetvi Sheth 11 October 2014 at 11:14
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
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
Whether gains on the sale of equity shares and Compulsorily Convertible Debentures are exempt from income tax in India by virtue of DTAA with Mauritius? And whether gains arising on the sale of CCDs are interest within the meaning of Section 2(28A) of the Income Tax Act, 1961 and taxable under Article 11 of India-Mauritius DTAA?
Hetvi Sheth 09 August 2014 at 10:41
Zaheer Mauritius - Petitioner Versus - Director of Income Tax - Respondent
Whether benefit of section 80V would be available to the Assessee if the borrowings were taken for the purpose of payment of tax? And whether disallowance under rule 6D should be computed with reference to the total expenditure incurred by an employee or other persons during the entire year and not with reference to each trip separately?
Hetvi Sheth 07 August 2014 at 11:22
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
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
The assessee company is a non-banking finance company engaged in the business of consultancy, investments, finance and trading in shares.During the course of a survey conducted by investigation wing of the department on Shri Subodh Gupta, CA in 2003,
The Assessee Company is engaged in the business of manufacturing basic chemicals and chemical intermediates and is a Government of India enterprise.The present Appeal is a case of disallowance of payment of employees' contribution to the P.F. amounti
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