Income Tax Act, 1961

Supreme Court clarifies deductibility of employee contributions under Income Tax Act: Checkmate Services P. Ltd. vs. Commissioner of Income Tax-1 (2022)

/ Income Tax Act, 1961, Income Tax Act, 1961 with Section 2(24)(x), Income Tax Act, 1961 with Section 36(1)(va), Income Tax Act, 1961 with Section 43B, Judges, S. Ravindra Bhat, Sudhanshu Dhulia, Uday Umesh Lalit

Supreme Court Clarifies Deductibility of Employee Contributions Under Income Tax Act LEGAL ISSUE: Interpretation of Section 36(1)(va) and Section 43B of the Income Tax Act, 1961 regarding the deductibility of employee contributions to provident funds and other welfare funds. CASE TYPE: Income Tax Case Name: Checkmate Services P. Ltd. vs. Commissioner of Income Tax-1 Judgment […]

Supreme Court clarifies deductibility of employee contributions under Income Tax Act: Checkmate Services P. Ltd. vs. Commissioner of Income Tax-1 (2022) Read Post »

Tax Deduction at Source (TDS) for Foreign Companies: Supreme Court Addresses Permanent Establishment in National Petroleum Construction Company vs. Deputy Commissioner of Income Tax (2022)

/ Double Taxation Avoidance Agreement, Double Taxation Avoidance Agreement with Article 7, Income Tax Act, 1961, Income Tax Act, 1961 with Section 197, Income Tax Act, 1961 with Section 5(2), Indira Banerjee, J.K. Maheshwari, Judges, Permanent Establishment, Tax Deduction at Source

Supreme Court on TDS for Foreign Companies: National Petroleum Construction Company vs. Deputy Commissioner of Income Tax (2022) LEGAL ISSUE: Whether a foreign company is liable to pay tax on income from work done outside India, and the scope of tax deduction at source (TDS) for such companies. CASE TYPE: Income Tax Law Case Name:

Tax Deduction at Source (TDS) for Foreign Companies: Supreme Court Addresses Permanent Establishment in National Petroleum Construction Company vs. Deputy Commissioner of Income Tax (2022) Read Post »

Supreme Court Upholds Search Warrant in Income Tax Case: Principal Director of Income Tax vs. Laljibhai Kanjibhai Mandalia (2022)

/ Constitutional Law, Hemant Gupta, Income Tax Act, 1961, Income Tax Act, 1961 with Section 132, Income Tax Act, 1961 with Section 143(3), Judges, Judicial Review, Search and Seizure, V. Ramasubramanian

Supreme Court Upholds Search Warrant in Income Tax Case: Principal Director of Income Tax vs. Laljibhai Kanjibhai Mandalia (2022) LEGAL ISSUE: Whether the High Court was correct in quashing a search warrant issued under Section 132 of the Income Tax Act, 1961. CASE TYPE: Income Tax/Search and Seizure Case Name: Principal Director of Income Tax

Supreme Court Upholds Search Warrant in Income Tax Case: Principal Director of Income Tax vs. Laljibhai Kanjibhai Mandalia (2022) Read Post »

Supreme Court Upholds Debtor’s Right to Reclaim Property Under Income Tax Act: R.S. Infra-Transmission Ltd. vs. Saurinindubhai Patel (2022)

/ Auction Sale, B.V. Nagarathna, Income Tax Act, 1961, Income Tax Act, 1961 with Rule 60, Judges, M.R. Shah, Recovery of Debt

Supreme Court Upholds Debtor’s Right to Reclaim Property Under Income Tax Act: R.S. Infra-Transmission Ltd. vs. Saurinindubhai Patel (2022) LEGAL ISSUE: Whether a debtor’s right to reclaim property under Rule 60 of the Second Schedule of the Income Tax Act, 1961, can be defeated due to a minor shortfall in payment caused by an error

Supreme Court Upholds Debtor’s Right to Reclaim Property Under Income Tax Act: R.S. Infra-Transmission Ltd. vs. Saurinindubhai Patel (2022) Read Post »

Supreme Court Clarifies Mandatory Nature of Declaration for Section 10B Exemption: Principal Commissioner of Income Tax-III vs. M/s Wipro Limited (2022)

/ B.V. Nagarathna, Exemption Provisions, Income Tax Act, 1961, Income Tax Act, 1961 with Section 10B(8), Income Tax Act, 1961 with Section 139(1), Judges, M.R. Shah

Supreme Court Clarifies Mandatory Nature of Declaration for Section 10B Exemption: Principal Commissioner of Income Tax-III vs. M/s Wipro Limited (2022) LEGAL ISSUE: Whether the declaration under Section 10B(8) of the Income Tax Act, 1961, must be furnished before the due date of filing the original return of income to claim exemption. CASE TYPE: Income

Supreme Court Clarifies Mandatory Nature of Declaration for Section 10B Exemption: Principal Commissioner of Income Tax-III vs. M/s Wipro Limited (2022) Read Post »

Supreme Court refers the issue of Commissioner’s power to extend assessment time to a larger bench: Commissioner of Sales Tax Odisha vs. Essel Mining

/ Audit Assessments, Judges, Orissa Value Added Tax Act, 2004, Orissa Value Added Tax Act, 2004 with Section 42(6), Pamidighantam Sri Narasimha, Sales Tax, Tax Assessment, Tax Law, Uday Umesh Lalit

Supreme Court refers the issue of Commissioner’s power to extend assessment time to a larger bench: Commissioner of Sales Tax Odisha vs. Essel Mining LEGAL ISSUE: Whether the Commissioner of Sales Tax can extend the time for an Assessing Authority to complete an audit assessment after the initial six-month period has expired. CASE TYPE: Tax

Supreme Court refers the issue of Commissioner’s power to extend assessment time to a larger bench: Commissioner of Sales Tax Odisha vs. Essel Mining Read Post »

Supreme Court Directs Reconsideration of ITAT Appointments: Advocate Association Bengaluru vs. Anoop Kumar Mendiratta (2022)

/ A M Khanwilkar, Dhananjaya Y Chandrachud, Income Tax Act, 1961, Income Tax Act, 1961 with Section 270A, Judges, Judicial Review, Pamidighantam Sri Narasimha, Search-cum-Selection Committee, Service Law, Tribunal Appointments, Tribunals Reforms Act, 2021, Tribunals Reforms Act, 2021 with Section 3(7)

Supreme Court Directs Reconsideration of ITAT Appointments: Advocate Association Bengaluru vs. Anoop Kumar Mendiratta (2022) LEGAL ISSUE: Whether the Appointments Committee of the Cabinet (ACC) can rely on feedback received after the Search-cum-Selection Committee (SCSC) recommendations without referring it back to the SCSC. CASE TYPE: Service Law/Contempt Case Name: Advocate Association Bengaluru vs. Anoop Kumar

Supreme Court Directs Reconsideration of ITAT Appointments: Advocate Association Bengaluru vs. Anoop Kumar Mendiratta (2022) Read Post »

Supreme Court clarifies reassessment notice procedure under Income Tax Act: Union of India vs. Ashish Agarwal (2022)

/ B.V. Nagarathna, Constitutional Law, Constitutional Law with Article 14, Income Tax Act, 1961, Income Tax Act, 1961 with Section 148, Income Tax Act, 1961 with Section 148A, Judges, M.R. Shah, Reassessment

Supreme Court clarifies reassessment notice procedure under Income Tax Act LEGAL ISSUE: Procedure for issuing reassessment notices under the Income Tax Act, 1961 CASE TYPE: Tax Law Case Name: Union of India & Ors. vs. Ashish Agarwal Judgment Date: May 4, 2022 Date of the Judgment: May 4, 2022 Citation: (2022) INSC 426 Judges: M.R.

Supreme Court clarifies reassessment notice procedure under Income Tax Act: Union of India vs. Ashish Agarwal (2022) Read Post »

Supreme Court Upholds Penalty Order: Gyan Chand Jain vs. Commissioner of Income Tax (2022)

/ B.V. Nagarathna, Income Tax Act, 1961, Income Tax Act, 1961 with Section 2(28C), Income Tax Act, 1961 with Section 271(1)(c), Income Tax Act, 1961 with Section 274(2), Judges, M.R. Shah

Supreme Court Upholds Penalty Order: Gyan Chand Jain vs. Commissioner of Income Tax (2022) LEGAL ISSUE: Maintainability of appeal before High Court when tax effect is below prescribed limit. CASE TYPE: Income Tax Appeal Case Name: Late Shri Gyan Chand Jain through LR vs. Commissioner of Income Tax-I [Judgment Date]: April 19, 2022 Date of

Supreme Court Upholds Penalty Order: Gyan Chand Jain vs. Commissioner of Income Tax (2022) Read Post »

Supreme Court clarifies revenue expenditure deduction for exchange fluctuation losses in finance business: Wipro Finance Ltd. vs. Commissioner of Income Tax (2022) INSC 387 (12 April 2022)

/ A.M. Khanwilkar, Abhay S. Oka, C.T. Ravikumar, Income Tax Act, 1961, Income Tax Act, 1961 with Section 254, Income Tax Act, 1961 with Section 37, Judges, Revenue Expenditure

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 clarifies revenue expenditure deduction for exchange fluctuation losses in finance business: Wipro Finance Ltd. vs. Commissioner of Income Tax (2022) INSC 387 (12 April 2022) Read Post »

Supreme Court Clarifies Assessment of Amalgamated Companies: PCIT vs. Mahagun Realtors (2022)

/ Companies Act, 1956, Companies Act, 1956 with Section 394, Income Tax Act, 1961, Income Tax Act, 1961 with Section 143(2), Income Tax Act, 1961 with Section 153A, Income Tax Act, 1961 with Section 170, Judges, S. Ravindra Bhat, Uday Umesh Lalit

Supreme Court Clarifies Assessment of Amalgamated Companies: PCIT vs. Mahagun Realtors (2022) LEGAL ISSUE: Whether an assessment order in the name of an amalgamating company is valid after the company has ceased to exist due to amalgamation. CASE TYPE: Income Tax Law Case Name: Principal Commissioner of Income Tax (Central) – 2 vs. M/s. Mahagun

Supreme Court Clarifies Assessment of Amalgamated Companies: PCIT vs. Mahagun Realtors (2022) Read Post »

Supreme Court Upholds Reassessment Notice: M.R. Shah Logistics Case (2022)

/ Finance Act, 2016, Finance Act, 2016 with Section 192, Income Declaration Scheme, Income Tax Act, 1961, Income Tax Act, 1961 with Section 147, Income Tax Act, 1961 with Section 148, Judges, Reassessment, S. Ravindra Bhat, Uday Umesh Lalit

Supreme Court Upholds Reassessment Notice: M.R. Shah Logistics Case (2022) LEGAL ISSUE: Whether a reassessment notice under Section 147 of the Income Tax Act, 1961 can be issued based on tangible material indicating income has escaped assessment, even if the assessee claims the income was declared under the Income Declaration Scheme (IDS) by another entity.

Supreme Court Upholds Reassessment Notice: M.R. Shah Logistics Case (2022) Read Post »

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