Date of the Judgment: October 9, 2017 Citation: (2017) INSC 824 Judges: A.K. Sikri, J., Ashok Bhushan, J. Can businesses choose to ignore depreciation when calculating deductions under Section 80-IA of the Income Tax Act? The Supreme Court of India addressed this critical question, clarifying that depreciation must be considered when computing profits eligible for […]
LEGAL ISSUE: Whether an unregistered Joint Development Agreement (JDA) constitutes a “transfer” under Section 2(47)(v) of the Income Tax Act, 1961, making it liable for capital gains tax. CASE TYPE: Income Tax Law Case Name: Commissioner of Income Tax vs. Balbir Singh Maini [Judgment Date]: 04 October 2017 Introduction Date of the Judgment: 04 October
LEGAL ISSUE: Whether the Designated Authority under the Delhi Tax Compliance Achievement Scheme, 2013, had the power to issue show cause notices for reopening assessments. CASE TYPE: Tax Law Case Name: Commissioner of Trade and Taxes and Ors. vs. M/S Ahluwalia Contracts (India) Ltd. Judgment Date: 4 October 2017 Can a tax authority, specifically an
LEGAL ISSUE: Whether Section 115O of the Income Tax Act, 1961, which imposes a tax on distributed profits by domestic companies, is constitutionally valid, especially concerning agricultural income. CASE TYPE: Tax Law Case Name: Union of India & Ors. vs. M/s. Tata Tea Co. Ltd. & Anr. Judgment Date: 20 September 2017 Introduction Date of
LEGAL ISSUE: Validity of proceedings initiated under Section 153C of the Income Tax Act, 1961, concerning the requirement of seized documents to pertain to the assessment years in question. CASE TYPE: Income Tax Law Case Name: Commissioner of Income Tax-III, Pune vs. Sinhgad Technical Education Society [Judgment Date]: 29 August 2017 Date of the Judgment:
Can a tax authority attach funds related to a foreign company’s income in India, even when those funds are secured by Letters of Credit (LCs)? The Supreme Court of India tackled this complex issue in a case involving Formula One World Championship Limited (FOWC), an international company, and several banks. This case clarifies the extent
Can the court fee for an income tax appeal be determined by the date of assessment or the date the appeal is filed? The Supreme Court of India addressed this question in a recent judgment. This case clarifies which court fee rules apply to appeals filed under Section 260A of the Income Tax Act, 1961,
LEGAL ISSUE: Whether technical know-how fees paid for setting up a new manufacturing plant should be treated as revenue or capital expenditure. CASE TYPE: Income Tax Law Case Name: Honda Siel Cars India Ltd. vs. Commissioner of Income Tax, Ghaziabad Judgment Date: 9th June 2017 Introduction Can payments made for technical know-how be considered a
LEGAL ISSUE: The constitutional validity of making Aadhaar mandatory for PAN and income tax returns. CASE TYPE: Tax Law, Constitutional Law Case Name: Binoy Viswam vs. Union of India & Ors. Judgment Date: 9 June 2017 Introduction Citation: This judgment is not yet reported in the official INSC format. Judges: The judgment was delivered by
Can a company that takes over a sick company through amalgamation also inherit the tax liabilities of the sick company, especially when it benefits from tax exemptions? The Supreme Court of India, in this case, examined the interplay between Section 41(1) and Section 72A of the Income Tax Act, 1961. This case revolves around whether
Date of the Judgment: July 18, 2013 Citation: 2013 INSC 509 Judges: H.L. Dattu, J., Dipak Misra, J. Can an assessee directly challenge a show cause notice issued under Section 153C of the Income Tax Act, 1961 in a writ petition? The Supreme Court of India addressed this procedural question in a batch of appeals.
Date of the Judgment: July 08, 2013 Citation: Civil Appeal No. 5338 of 2013 (Arising out of Special Leave Petition (Civil) No.34192 of 2012) Judges: H.L. Dattu, J., Dipak Misra, J. Can a delay in filing an appeal be excused if it was due to circumstances beyond the party’s control? The Supreme Court of India
