Income Tax Act, 1961 with Section 145

Supreme Court Upholds Validity of Section 43B(f) of Income Tax Act in Leave Encashment Deductions: Union of India vs. Exide Industries Limited (2020) INSC 305 (24 April 2020)

/ A.M. Khanwilkar, Constitutional Law, Constitutional Law with Article 14, Dinesh Maheshwari, Fundamental Rights, Hemant Gupta, Income Tax Act, 1961, Income Tax Act, 1961 with Section 145, Income Tax Act, 1961 with Section 43B, Judges

Supreme Court Upholds Validity of Section 43B(f) of Income Tax Act in Leave Encashment Deductions Date of the Judgment: 24 April 2020 Citation: (2020) INSC 305 Judges: A.M. Khanwilkar, J., Hemant Gupta, J., and Dinesh Maheshwari, J. The Supreme Court of India addressed a critical question regarding the validity of Section 43B(f) of the Income […]

Supreme Court Upholds Validity of Section 43B(f) of Income Tax Act in Leave Encashment Deductions: Union of India vs. Exide Industries Limited (2020) INSC 305 (24 April 2020) Read Post »

Supreme Court clarifies addition of cash credits under Section 68 of the Income Tax Act: Basir Ahmed Sisodiya vs. Income Tax Officer (24 April 2020)

/ A.M. Khanwilkar, Dinesh Maheshwari, Income Tax Act, 1961, Income Tax Act, 1961 with Section 143, Income Tax Act, 1961 with Section 145, Income Tax Act, 1961 with Section 68, Judges

Supreme Court on Cash Credits under Section 68 of Income Tax Act: Basir Ahmed Sisodiya vs. ITO (2020) Date of the Judgment: 24 April 2020 Citation: Basir Ahmed Sisodiya v. The Income Tax Officer, Civil Appeal No. 6110 of 2009 Judges: A.M. Khanwilkar, J. and Dinesh Maheshwari, J. Can an assessing officer add ‘cash credits’

Supreme Court clarifies addition of cash credits under Section 68 of the Income Tax Act: Basir Ahmed Sisodiya vs. Income Tax Officer (24 April 2020) Read Post »

Supreme Court settles deduction of lease equalization charges in income tax: Commissioner of Income Tax vs. Virtual Soft Systems Ltd. (24 April 2018)

/ Abhay Manohar Sapre, Companies Act, 1956, Companies Act, 1956 with Section 211, Deductions Under Income Tax Act, 1961, Income Tax Act, 1961, Income Tax Act, 1961 with Section 145, Judges, R.K. Agrawal

Supreme Court Allows Lease Equalization Charges Deduction: Commissioner of Income Tax vs. Virtual Soft Systems Ltd. (2018) LEGAL ISSUE: Whether lease equalization charges can be deducted from lease rental income under the Income Tax Act, 1961, based on a Guidance Note issued by the Institute of Chartered Accountants of India (ICAI). CASE TYPE: Income Tax

Supreme Court settles deduction of lease equalization charges in income tax: Commissioner of Income Tax vs. Virtual Soft Systems Ltd. (24 April 2018) Read Post »

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