Judgement:- The Madras High Court ruled that the Airport Authority of India (AAI) is liable to pay Land Tax as it is not part of the Central Government. Facts of the case:- Mr V.Ramesh, the counsel for the petitioner, AAI contended that it is a Statutory …
The Central Board of Direct Taxes (CBDT) has issued an order extending due dates for various compliance forms including the Quarterly statement in Form No. 15CC, Equalization Levy Statement in Form No.1, the Statement of Income paid or credited by an investment fund to its unit …
The Delhi bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that a Limited Liability Partnership (LLP), being not a “Body Corporate” under section 2(7) Companies Act,2013, is not liable to pay service tax under the reverse charge mechanism (RCM). Facts of …
The Income Tax Appellate Tribunal (ITAT), Raipur has recently quashed a re-assessment against the South-Eastern Coalfield Limited (SECL) wherein a claim of Rs. 577 Lakhs towards Provision of Leave Encashment was disallowed by the income tax department. Facts of the case:- The appellant-Company approached the Tribunal …
Judgment:- The Madras High Court ruled that disallowance under Section 14A of the Income Tax Act can not exceed the exempted income earned by the Assessee. Facts of the case:- The assessee, M/s.HTC Global Services India Pvt. Ltd. is a company engaged in the business of …
1. There is no definition of the term “Shell Companies” in the Companies Act and it normally refers to a company without active business operation or significant assets, which in some cases are used for illegal purposes such as tax evasion, money laundering, obscuring ownership, Benami …
Judgment:- The Delhi High Court held that the notices issued in the name of dead persons are void, and all consequent Assessment Orders are liable to be quashed. Facts of the case:- The petitioner, Sripathi Subbaraya Manohara, legal heir of Late Sripathi Subbaraya Gupta has challenged …
The Income Tax Appellate Tribunal (ITAT), Kolkata Bench ruled that the revisional Power exercised by CIT(A) based on ‘cut & paste’ reasoning is invalid. Facts of the case:- The assessee, Satish Kumar Lakhmani has raised a legal issue wherein he has challenged the assumption of jurisdiction …
Judgment:- The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench held that no TDS applicable if the threshold limit of Rs.20,000 is not satisfied. The revenue has raised the issue of whether the CIT(A) is right in deleting the addition of Rs.3,94,38,302/- made by the AO under …
