Judgements and Orders, Supreme Court and High courts of India

. On a writ petition filed by the assessee challenging the seizure of certain jewellery and ornaments belonging to the assessee, the High Court held that the search and seizure were invalid and illegal. The High Court ordered that interest at t

Held by Ho"ble court that since the incentive bonus was paid to the employees wholly and exclusively for business purposes such bonus was allowable as deduction u/s 37(1).

Held by the Hon`ble Court that, the A.O. must be satisfied, not arbitrarily but judiciously. In the facts and circumstances of the case, penalty levied on technical mistake committed by the assessee and due to this there is no loss of revenue, shall

Held by the Hon`ble Court that, if it be assumed that the subscribers of application money were not genuine, under no circumstances amount of share application money could be regarded as undisclosed income of the company. Therefore share application

Advance Ruling - Transfer of shares between two non-resident entities abroad

Held by the Hon`ble Court that, no authority has been given to assessing officer u/s 142(2A) of the Income tax Act to make an order for preparation of fresh books by referring the matter to an auditor under special audit. Therefore A.O. is not justif

Held by the Hob`ble Authority that as per article 13(5) of the DTAA between India & Netherlands in case of corporate reorganisation where the transferor or transferee owned atleast 10% of the capital of the other, the capital gain on such transfers c

BUSINESS AUXILIARY SERVICE Section 65 of the Finance Act, 1994 - Business auxiliary service - Whether where Commissioner (Appeals) held that rendering of house keeping services in academic centre by assessee would not come within ambit of ‘Busines