assessee

Case BriefsSupreme Court

Amalgamation does not necessarily nullify tax assessment as only the outer shell of the amalgamating company gets destroyed but the business and the adventure lives on: SC

It is essential to look beyond the mere concept of destruction of corporate entity which brings to an end or terminates any assessment proceedings.

Case BriefsSupreme Court

Declaration under the Income Declaration Scheme cannot lead to non-declarant’s immunity from taxation: SC

Supreme Court: The bench of UU Lalit and S. Ravindra Bhat*, JJ has held that the declaration under the Income Declaration Scheme

Case BriefsTribunals/Commissions/Regulatory Bodies

ITAT | Notice issued against a dead person is null and void and all consequent proceedings/orders being equally tainted are liable to be set aside

Income Tax Appellate Tribunal (ITAT), New Delhi: The Coram of Amit Shukla (Judicial Member) and Pradip Kumar Kedia (Accountant Member) allowed an

Case BriefsHigh Courts

Provision of Personal Hearing would defeat the purpose of Faceless Assessment Scheme? Del HC decides

Delhi High Court: The Division Bench of Manmohan and Navin Chawla, JJ., while focusing on the principles of natural justice and right

Case BriefsTribunals/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 BriefsTribunals/Commissions/Regulatory Bodies

CESTAT | If two reasonable constructions of a taxing provision are possible, that construction which favours the assessee must be adopted; Appeal allowed

Customs, Excise and Services Tax Appellate Tribunal (CESTAT): P. Dinesha (Judicial Member) allowed an appeal which was filed with the point of

Legislation UpdatesRules & Regulations

Income-tax (30th Amendment) Rules, 2021

The Central Board of Direct Taxes has notified the Income-tax (30th Amendment) Rules, 2021 vide notification dated 24th September, 2021. The amendment

Case BriefsTribunals/Commissions/Regulatory Bodies

CESTAT | Even when an assessee has suppressed facts, the extended period of limitation can be invoked only when “suppression‟ or “collusion” is wilful with an intent to evade payment of duty; Tribunal decides

Customs, Excise and Services Tax Appellate Tribunal (CESTAT): The Coram of Dilip Gupta (President) and C.J. Mathew (Technical Member) allowed an appeal

Case BriefsSupreme Court

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.”

Case BriefsTribunals/Commissions/Regulatory Bodies

ITAT | Whether DTAA protection in respect of taxation of dividend in source jurisdiction, can be extended to ‘dividend distribution tax’ under S. 115-O, Income Tax Act, in the hands of a domestic company? Matter referred to larger Bench

Income Tax Appellate Tribunal (ITAT): A two-Member Bench of Pramod Kumar, Vice President and Amarjit Singh, Judicial Member, referred a seminal question

Case BriefsSupreme Court

Explained| Scope of Section 80-IA(5) of the Income Tax Act, 1961 with respect to determination of quantum of deduction under Section 80-IA(1)

Supreme Court: Interpreting the true scope of Section 80-IA(5) of the Income Tax Act, 1961, the bench of L. Nageswara Rao* and

Case BriefsSupreme Court

Can’t treat unequals equally; No automatic vacation of stay under Section 254(2A) Proviso 3 of the Income Tax Act, 1961 if the assessee is not responsible for the delay: Supreme Court

Supreme Court: Dealing with an important question as to the constitutional validity of the third proviso to Section 254(2A) of the Income

Case BriefsTribunals/Commissions/Regulatory Bodies

ITAT| Whether amount deducted from the sale proceeds constitute trading receipts in the hands of the Assessee?

by Akshat Malpani†

Case BriefsTribunals/Commissions/Regulatory Bodies

ITAT | Can enhancement be made when the same was not there in the reasons recorded for reopening the assessment? Tribunal answers

Income-tax Appellate Tribunal, New Delhi: Dealing with the issue of enhancement by CIT(A) which was never therein the reasons recorded for reopening

Case BriefsHigh Courts

Del HC | “Ss. 69 and 132 of CGST Act prima facie valid; Power to arrest and prosecute is prima facie ancillary to power to levy and collect GST”: Read HC’s detailed analysis

Delhi High Court: The Division Bench of Manmohan and Sanjeev Narula, JJ., upheld the validity of Sections 132 and 69 of the

Case BriefsHigh Courts

Kar HC | Income from the exercise of the stock option has to be treated as income from salaries only when the relationship of employer-employee is established for purposes of S. 15-17 of IT Act

Karnataka High Court: A Division Bench of Alok Aradhe and H. T. Narendra Prasad JJ., allowed the appeal and quashed the impugned

Case BriefsTribunals/Commissions/Regulatory Bodies

CESTAT | Assessee eligible for availing CENVAT credit on service tax paid on outward transportation of its finished goods; Tribunal dismisses appeal by the Revenue

Customs, Excise and Services Tax Appellate Tribunal (CESTAT): P.K. Choudhary (Judicial Member), dismissed an appeal filed by the Revenue alleging that the

Case BriefsHigh Courts

Kar HC | Deductions falling under S. 10-B of Income Tax Act cannot be computed without setting off brought forward business losses and unabsorbed depreciation

Karnataka High Court: A Division Bench of Alok Aradhe and H.T. Narendra Prasad, JJ. set aside the decision of the Income Tax

Case BriefsTribunals/Commissions/Regulatory Bodies

ITAT| Disallowance under Section 40(a)(ia) IT Act not to remain in force if the IT Return reflects the transaction

Income Tax Appellate Tribunal (ITAT), Mumbai: Explaining the law on disallowance u/s.40(a)(ia), the Tribunal has said that if the payees have included

Op EdsOP. ED.

Powers of the Income Tax Appellate Tribunal to grant stay and the amendment by the Finance Act, 2020 – is it directory or unconstitutional?

by Gunjan H Kakkad*