Income Tax Act, 1961

Supreme Court Disallows Tax Benefits on Freebies Given to Doctors: Apex Laboratories vs. Deputy Commissioner of Income Tax (22 Feb 2022)

/ Business Expenditure, Contract Act, 1872, Contract Act, 1872 with Section 23, Income Tax Act, 1961, Income Tax Act, 1961 with Section 37(1), Judges, Public Policy, S. Ravindra Bhat, Uday Umesh Lalit

Supreme Court Disallows Tax Benefits on Freebies Given to Doctors: Apex Laboratories vs. Deputy Commissioner of Income Tax (22 Feb 2022) LEGAL ISSUE: Whether pharmaceutical companies can claim tax deductions on expenses incurred for providing freebies to medical practitioners. CASE TYPE: Income Tax Law Case Name: M/s Apex Laboratories Pvt. Ltd. vs. Deputy Commissioner of […]

Supreme Court Disallows Tax Benefits on Freebies Given to Doctors: Apex Laboratories vs. Deputy Commissioner of Income Tax (22 Feb 2022) Read Post »

Supreme Court clarifies the limited scope of Section 254(2) of the Income Tax Act in tax appeals: Commissioner of Income Tax vs. Reliance Telecom (2021)

/ B.V. Nagarathna, Civil Procedure Code, Civil Procedure Code with Order XLVII Rule 1, Income Tax Act, 1961, Income Tax Act, 1961 with Section 254(2), Income Tax Appeals, Judges, M.R. Shah, Taxation

Supreme Court Clarifies Scope of Section 254(2) of Income Tax Act in Reliance Telecom Case (2021) LEGAL ISSUE: Scope of power of Income Tax Appellate Tribunal to rectify its order under Section 254(2) of the Income Tax Act, 1961. CASE TYPE: Income Tax Appeal Case Name: Commissioner of Income Tax (IT-4), Mumbai vs. M/s Reliance

Supreme Court clarifies the limited scope of Section 254(2) of the Income Tax Act in tax appeals: Commissioner of Income Tax vs. Reliance Telecom (2021) Read Post »

Supreme Court clarifies the limitation period for revisions under Section 263 of the Income Tax Act: Commissioner of Income Tax vs. Mohammed Meeran Shahul Hameed (2021)

/ A. S. Bopanna, Income Tax Act, 1961, Income Tax Act, 1961 with Section 263, Judges, Limitation Period, M. R. Shah, Revision of Assessment Order

Supreme Court Clarifies Limitation for Section 263 Income Tax Revisions: Commissioner of Income Tax vs. Mohammed Meeran Shahul Hameed (2021) LEGAL ISSUE: Interpretation of the limitation period for revision orders under Section 263 of the Income Tax Act, 1961. CASE TYPE: Income Tax Law. Case Name: The Commissioner of Income Tax, Chennai vs. Mohammed Meeran

Supreme Court clarifies the limitation period for revisions under Section 263 of the Income Tax Act: Commissioner of Income Tax vs. Mohammed Meeran Shahul Hameed (2021) Read Post »

Supreme Court Permits Withdrawal of Appeals in Income Tax Case: Vodafone Essar Cellular Ltd. vs. Assistant Commissioner of Income Tax (29 September 2021)

/ Bela M. Trivedi, Income Tax, Income Tax Act, 1961, Income Tax Act, 1961 with Appeals, Judges, S. Ravindra Bhat, Supreme Court Procedure, Supreme Court Procedure with Appeals, Uday Umesh Lalit, Withdrawal of Appeals

Vodafone Essar Cellular Ltd. vs. Assistant Commissioner of Income Tax: Supreme Court Allows Withdrawal of Appeals LEGAL ISSUE: Withdrawal of appeals by the appellant. CASE TYPE: Income Tax Case Name: Vodafone Essar Cellular Ltd. vs. Assistant Commissioner of Income Tax [Judgment Date]: 29 September 2021 Introduction Date of the Judgment: 29 September 2021 Judges: Uday

Supreme Court Permits Withdrawal of Appeals in Income Tax Case: Vodafone Essar Cellular Ltd. vs. Assistant Commissioner of Income Tax (29 September 2021) Read Post »

Supreme Court Restores Review Petition in Income Tax Exemption Case: Commissioner of Income Tax vs. Subros Educational Society (20 September 2021)

/ Delay Condonation, Income Tax Act, 1961, Income Tax Act, 1961 with Section 254, Income Tax Exemption, Judges, Procedural Law, Review Petition, Vikram Nath

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

Supreme Court Restores Review Petition in Income Tax Exemption Case: Commissioner of Income Tax vs. Subros Educational Society (20 September 2021) Read Post »

Supreme Court clarifies disallowance of interest under Section 14A of Income Tax Act for Banks: South Indian Bank Ltd. vs. Commissioner of Income Tax (2021)

/ Disallowance of Expenditure, Exempt Income, Hrishikesh Roy, Income Tax Act, 1961, Income Tax Act, 1961 with Section 14A, Judges, Sanjay Kishan Kaul

Supreme Court on Disallowance of Interest under Section 14A of Income Tax Act for Banks LEGAL ISSUE: Whether proportionate disallowance of interest paid by banks is required under Section 14A of the Income Tax Act for investments in tax-free bonds/securities when the banks have sufficient interest-free funds. CASE TYPE: Income Tax Case Name: South Indian

Supreme Court clarifies disallowance of interest under Section 14A of Income Tax Act for Banks: South Indian Bank Ltd. vs. Commissioner of Income Tax (2021) Read Post »

Supreme Court clarifies scope of deduction under Section 80-IA of the Income Tax Act in power generation business: Commissioner of Income Tax vs. Reliance Energy Ltd. (28 April 2021)

/ Deductions, Income Tax Act, 1961, Income Tax Act, 1961 with Section 80-IA, Income Tax Act, 1961 with Section 80AB, Judges, L. Nageswara Rao, Vineet Saran

Supreme Court Clarifies Deduction Under Section 80-IA of Income Tax Act: Reliance Energy Ltd. vs. Commissioner of Income Tax (2021) Date of the Judgment: 28 April 2021 Citation: 2021 INSC 243 Judges: L. Nageswara Rao, J. and Vineet Saran, J. Can deductions under Section 80-IA of the Income Tax Act be limited to ‘business income’,

Supreme Court clarifies scope of deduction under Section 80-IA of the Income Tax Act in power generation business: Commissioner of Income Tax vs. Reliance Energy Ltd. (28 April 2021) Read Post »

Supreme Court Upholds Specific Performance of Sale Agreements: A.R. Madana Gopal vs. Ramnath Publications (2021)

/ Contract Law, Income Tax Act, 1961, Income Tax Act, 1961 with Section 230-A, Interpretation of Contracts, Judges, L. Nageswara Rao, S. Ravindra Bhat, Specific Performance, Specific Relief Act, 1963, Specific Relief Act, 1963 with Section 10-A

Supreme Court Upholds Specific Performance of Sale Agreements: A.R. Madana Gopal vs. Ramnath Publications (2021) LEGAL ISSUE: Whether a delay in seeking specific performance of a sale agreement after the disposal of a related writ petition is fatal to the case, especially when the agreement stipulated payment at the time of registration of sale deeds.

Supreme Court Upholds Specific Performance of Sale Agreements: A.R. Madana Gopal vs. Ramnath Publications (2021) Read Post »

Supreme Court rules on validity of Section 254(2A) of Income Tax Act in stay order cases (06 April 2021)

/ Appellate Tribunal, B.R. Gavai, Constitutional Law, Constitutional Law with Article 14, Fundamental Rights, Hrishikesh Roy, Income Tax Act, 1961, Income Tax Act, 1961 with Section 254(2A), Judges, Rohinton Fali Nariman, Stay Orders

Supreme Court on the Validity of Section 254(2A) of the Income Tax Act Date of the Judgment: 06 April 2021 Citation: 2021 INSC 185 Judges: Justice Rohinton Fali Nariman, Justice B.R. Gavai, and Justice Hrishikesh Roy. Can an Income Tax Appellate Tribunal (ITAT) automatically vacate a stay order if an appeal isn’t decided within 365

Supreme Court rules on validity of Section 254(2A) of Income Tax Act in stay order cases (06 April 2021) Read Post »

Supreme Court Clarifies Tax Deductibility of Grants by National Cooperative Development Corporation: National Co-operative Development Corporation vs. Commissioner of Income Tax, Delhi-V (2020) INSC 649 (11 September 2020)

/ Income Tax Act, 1961, Income Tax Act, 1961 with Section 37, Income Tax Act, 1961 with Section 56, Indu Malhotra, Judges, National Co-operative Development Corporation Act, 1962, National Co-operative Development Corporation Act, 1962 with Section 13, Sanjay Kishan Kaul

Supreme Court Clarifies Tax Deductibility of Grants by National Cooperative Development Corporation Date of the Judgment: 11 September 2020 Citation: (2020) INSC 649 Judges: Sanjay Kishan Kaul, J., Indu Malhotra, J. Can a government entity deduct grants given for its business purposes from its taxable income? The Supreme Court of India addressed this question in

Supreme Court Clarifies Tax Deductibility of Grants by National Cooperative Development Corporation: National Co-operative Development Corporation vs. Commissioner of Income Tax, Delhi-V (2020) INSC 649 (11 September 2020) Read Post »

Supreme Court clarifies Wealth Tax on Clubs: Bangalore Club vs. Commissioner of Wealth Tax (2020)

/ Association of Persons, Income Tax Act, 1961, Income Tax Act, 1961 with Section 2(31), Indira Banerjee, Judges, Navin Sinha, R.F. Nariman, Wealth Tax Act, 1957, Wealth Tax Act, 1957 with Section 21AA

Supreme Court clarifies Wealth Tax on Clubs: Bangalore Club vs. Commissioner of Wealth Tax (2020) LEGAL ISSUE: Whether a members’ club is liable to pay wealth tax as an association of persons when the shares of its members are not indeterminate. CASE TYPE: Tax Law Case Name: M/S BANGALORE CLUB vs. THE COMMISSIONER OF WEALTH

Supreme Court clarifies Wealth Tax on Clubs: Bangalore Club vs. Commissioner of Wealth Tax (2020) Read Post »

Supreme Court Upholds Disallowance of Payments for Failure to Deduct TDS in Transportation Contracts (29 July 2020)

/ A.M. Khanwilkar, Dinesh Maheshwari, Income Tax Act, 1961, Income Tax Act, 1961 with Section 194C, Income Tax Act, 1961 with Section 40(a)(ia), Judges

Supreme Court Upholds Disallowance of Payments for Failure to Deduct TDS in Transportation Contracts (29 July 2020) LEGAL ISSUE: Whether payments made to truck operators/owners without deducting Tax Deducted at Source (TDS) can be disallowed as business expenditure under Section 40(a)(ia) of the Income Tax Act, 1961. CASE TYPE: Income Tax Law, specifically relating to

Supreme Court Upholds Disallowance of Payments for Failure to Deduct TDS in Transportation Contracts (29 July 2020) Read Post »

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