High Court

Accrual Of Income – Supreme Court Lays Down Important Law

CLR Editorial Note The question for consideration in this appeals is whether the benefit of an entitlement to make duty free imports of raw materials obtained by the assessee through advance licences and duty entitlement pass book issued against export obligations is income in the year in which the exports are made or in the year in which… Read More

Tags: AppealGovernmentHigh CourtHonIncome taxMorviSupreme CourtThe Honourable

Section 234D of the IT Act does not apply to assessments prior to June 2003

CLR Editorial Note: This case law refers to a Petition(s) for Special Leave to Appeal which is in respect of retrospectivity of Section 234D of the Income Tax Act, 1961. For the Assessment Year 1998-99, the Assessing Officer passed an assessment order prior to 01st June 2003, in which interest under section 234D was not levied. The assessee… Read More

Tags: AppealCITCommonwealth Law ReportsHigh CourtHonIncome Tax Act 1961Supreme CourtThe Honourable

HC issues strict guidelines in order to end CBDT™s TDS credit & refund adjustment harassments

CLR Editorial Note: A letter dated 30th April 2012 was addressed to the High Court, by Anand Parkash, FCA, in which numerous problems were highlighted which mentioned about the hassles being faced by assesses across the Country owing to the faulty processing of the Income Tax Returns and non-grant of TDS credit & refunds. It was claimed… Read More

Tags: Case LawsCaselawsCBDTCommonwealth Law ReportsHigh CourtIncome taxOrder of AustraliaTaxation in IndiaTDSThe Honourable

HC directs CBDT to investigate whether AO did not act in a bonafide manner

CLR Editorial Note: The assessee in this case, had sold an agricultural land for a value of Rs. 1.20 crore and deposited the cash proceeds in his bonafide bank account. With respect to this transaction, he filed a return in which the transaction was disclosed and claimed to be not chargeable to tax. However, as… Read More

Tags: CBDTCITHigh CourtIncome taxRupeeTaxTaxation in India

Section 194C TDS does not apply to contract manufacturing agreements

CIT vs. Silver Oak Laboratories P. Ltd (Supreme Court) CLR Editorial Notes: The assessee in this case related to Section 194C, is a manufacturer of pharmaceutical products. The assessee entered into various agreements with multiple manufacturers who manufactured items according to the specifications provided by the assessee. The Assessing Officer held that the transaction between… Read More

Tags: 201(1)201(1A)AppealHigh CourtIndiaManufacturingReebok India 306 ITR 124 (Del)Section 194CSupreme Court

High Court Explains Why Section 43B applies To Employees PF

Ratio of the case: Due date in Section 36(1)(va) for payment of employees™ Provident Fund, ESIC etc contribution should be read with section 43B(b) to mean due date for filing ROI CLR Editorial Notes: The assessee collected employees™ Provident Fund contribution for payment to the provident fund authorities. However, the amount was not paid to the provident… Read More

Tags: CITEmployee Provident FundHigh CourtIncome Tax ActIncome Tax Act 1961Order of AustraliaProvident FundRate of return

ITAT Special Bench Explains Important Law On Force Of Attraction

CLR Editorial Notes: The assessee, in this particular case is a U.K. partnership firm of Solicitors, which provides legal consultancy services in connection with different projects in India. The assessee claimed in its assessment, that the taxability of the income had to be processed under Article 15 (independent professional services) which forms part of the… Read More

Tags: Bombay High CourtClifford ChanceDouble taxationHigh CourtIndiaLinklaterMumbaiSupreme Court

Complaint Against ITAT Members – Writ to restrain Members from discharging statutory functions not maintainable

CLR Editorial Notes: The Petitioner, a Chartered Accountant practicing before the Amritsar Bench of the Tribunal, filed a Writ Petition alleging that he was facing a lot of harassment at the hands of the Judicial Member and the Accountant Member of the Amritsar ITAT Bench. He alleged that the said Members were totally prejudiced against him… Read More

Tags: Accountant MemberHigh CourtJudicialMandamusPetitionPetitionerStatuteWrit

CLR Snippets | Enhancing the Efficiency of Court Management

With a view to enhance the efficiency of court management and resultant improvement in case disposal, Government has allocated Rs. 300 crore to the States for creation of posts of professionally qualified Court Managers, on the recommendation of 13th Finance Commission. Giving this information in written reply to a question in the Lok Sabha, Dr.… Read More

Tags: 13th Finance CommissionAshwani KumarFinance Commission of IndiaGovernmentHigh CourtHigh Court of JusticeLok SabhaSupreme Court of the United States

“Bonafide Mistake” in filing returns does not call for penalty u/s 271(1)(c)

CLR Editorial Note: In this case, the assessee had filed a return of income in which two mistakes were committed (i) The assesssee claimed depreciation of Rs.1.70 crores instead of Rs. 1.05 crores due to a calculation mistake, (ii) the assessee had sold its garment manufacturing machine and had suffered a loss of Rs.21.68 lakhs… Read More

Tags: chartered accountantCITDelhi High CourtDepreciationHigh CourtIncome taxRevenueRupeeThe Honourable

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