Supreme Court Upholds Time Limit for Revised Income Tax Returns: Shriram Investments vs. Commissioner of Income Tax (2024) Date of the Judgment: October 4, 2024 Citation: 2024 INSC 760 Judges: Abhay S. Oka, J., Augustine George Masih, J. Can an assessing officer consider a claim made in a revised income tax return if that return […]
Supreme Court Clarifies Revenue Expenditure Deduction for Exchange Fluctuation Losses in Wipro Finance Case LEGAL ISSUE: Whether losses due to exchange rate fluctuations on foreign currency loans used for business purposes can be considered revenue expenditure and thus be eligible for deduction under Section 37 of the Income Tax Act, 1961. CASE TYPE: Income Tax
Supreme Court Restores Review Petition in Income Tax Exemption Case: Commissioner of Income Tax vs. Subros Educational Society (20 September 2021) LEGAL ISSUE: Whether a review petition should be restored after a delay. CASE TYPE: Income Tax Exemption. Case Name: Commissioner of Income Tax (Exemption) vs. Subros Educational Society. [Judgment Date]: 20 September 2021 Date
Date of the Judgment: September 15, 2008 Citation: [Not Available in Source] Judges: C.K. Thakker, J., Lokeshwar Singh Panta, J. Can the Income Tax Appellate Tribunal rectify an order if it fails to consider a decision from the High Court? The Supreme Court addressed this question in the case of Assistant Commissioner, Income Tax vs.
