Income Tax Archives | Page 4 of 7

Case Briefs Tribunals/Commissions/Regulatory Bodies

Can merely disowning bank accounts exempt assessee from paying tax? Read why ITAT approved addition of Rs 12.81 Crores under S.68 of Income Tax Act

Income Tax Appellate Tribunal (ITAT), New Delhi: Stating that, “Urgent needs invite urgent action”, Amit Shukla, Judicial Member and Dr B.R.R. Kumar,

Case Briefs Tribunals/Commissions/Regulatory Bodies

If lessee is not actual owner of property, can actual rental expenses be claimed on return of income? ITAT decides

Income Tax Appellate Tribunal, Bangalore Benches (ITAT): The Bench of Chandra Poojari, AM and George George K, JM while partly allowing an

Case Briefs Supreme Court

Life cannot be breathed into the stillborn charge memorandum; SC holds where prior approval is the rule the defect cannot be cured by post-facto approval

“What is non-existent in the eye of the law cannot be revived retrospectively.”

Op Eds OP. ED.

Residential Status of a Company under the Income Tax Act, 1961

by Paridhi Jain*

Case Briefs High Courts

Dishonour of Cheque | Is it mandatory for trial court to award interim compensation under S. 143-A NI Act on mere invocation thereof? Del HC decides whether S. 143-A is directory or mandatory?

Delhi High Court: Anu Malhotra, J., held that the provision of Section 143A of the NI Act, 1881 is directory in nature

Case Briefs High Courts

If a person willfully attempts to evade tax, he can be prosecuted under S. 276C(1) of the Income Tax Act: Bom HC

Bombay High Court: The Division Bench of K.R. Shriram and Amit B. Borkar, JJ., discussed when a person can be prosecuted under

Case Briefs Supreme Court

Explained| Can ITAT recall an order while exercising powers under Section 254(2) of the Income Tax Act?

Supreme Court: Explaining the scope of jurisdiction of ITAT, the bench of MR Shah* and BV Nagarathna, JJ has held that the

Legal RoundUp Tribunals/Regulatory Bodies/Commissions Monthly Roundup

Tribunals/Regulatory Bodies/Commissions Monthly Roundup | November 2021

Here’s a run-through of all the significant decisions covered in the month of November 2021 under the Section of Tribunals/Commissions/Regulatory Bodies.

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘Power’ of conducting IPL is vitally distinct from ‘Object’ of BCCI: ITAT explains substantive law, allows BCCI to continue registration under S. 12-A of Income Tax Act to avail tax exemption benefits

Income Tax Appellate Tribunal (ITAT), Mumbai: A two-Member Bench of Pramod Kumar (Vice President) and Ravish Sood (Judicial Member) allowed the Board

Experts Corner Tarun Jain (Tax Practitioner)

Judicial Slugfest on Applicability of New Provisions for Reopening of Assessments under Income Tax Law: An Overview

by Tarun Jain†
Cite as: 2021 SCC OnLine Blog Exp 84

Case Briefs Tribunals/Commissions/Regulatory Bodies

Will hostel facility which is incidental to providing education as per object of assessee be a charitable purpose exempted under S. 11 of Income Tax Act? ITAT answers

Income Tax Appellate Tribunal (ITAT): Coram of Anil Chaturvedi (Accountant Member) and Suchitra Kamble (Judicial Member) allowed the appeal filed by the

Case Briefs Supreme Court

Explained| Section 263 of Income Tax Act: Date of order or receipt of order – When does the limitation clock starts ticking?

Supreme Court: Interpreting Section 263(2) of the Income Tax Act, 1961, the bench of MR Shah* and AS Bopanna, JJ has held that receipt

Legislation Updates Rules & Regulations

Interest free funds not kept in separate account. Can proportionate disallowance on interest under Section 14A of IT Act be allowed? SC explains

“… in taxation regime, there is no room for presumption and nothing can be taken to be implied.”

Legislation Updates Statutes/Bills/Ordinances

Taxation Laws (Amendment) Act, 2021

The Ministry of Finance has passed the Taxation Laws (Amendment) Act, 2021 on August 13, 2021. The Act amends the Income Tax

SCC Times

Income Tax

Can merely disowning bank accounts exempt assessee from paying tax? Read why ITAT approved addition of Rs 12.81 Crores under S.68 of Income Tax Act

If lessee is not actual owner of property, can actual rental expenses be claimed on return of income? ITAT decides

Life cannot be breathed into the stillborn charge memorandum; SC holds where prior approval is the rule the defect cannot be cured by post-facto approval

Residential Status of a Company under the Income Tax Act, 1961

Dishonour of Cheque | Is it mandatory for trial court to award interim compensation under S. 143-A NI Act on mere invocation thereof? Del HC decides whether S. 143-A is directory or mandatory?

If a person willfully attempts to evade tax, he can be prosecuted under S. 276C(1) of the Income Tax Act: Bom HC

Explained| Can ITAT recall an order while exercising powers under Section 254(2) of the Income Tax Act?

Tribunals/Regulatory Bodies/Commissions Monthly Roundup | November 2021

‘Power’ of conducting IPL is vitally distinct from ‘Object’ of BCCI: ITAT explains substantive law, allows BCCI to continue registration under S. 12-A of Income Tax Act to avail tax exemption benefits

Judicial Slugfest on Applicability of New Provisions for Reopening of Assessments under Income Tax Law: An Overview

Will hostel facility which is incidental to providing education as per object of assessee be a charitable purpose exempted under S. 11 of Income Tax Act? ITAT answers

Explained| Section 263 of Income Tax Act: Date of order or receipt of order – When does the limitation clock starts ticking?

CBDT notifies Income Tax (31st Amendment) Rules, 2021

Supreme Court emphasises on Simplification of Tax Law

Income-tax (30th Amendment) Rules, 2021

Extension of timelines under the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020

Income-tax (29th Amendment) Rules, 2021

Income tax (28th Amendment) Rules, 2021

Interest free funds not kept in separate account. Can proportionate disallowance on interest under Section 14A of IT Act be allowed? SC explains

Taxation Laws (Amendment) Act, 2021