Search Results for "objective assessment"

490 result(s) found

Scroll Down To Discover

Found 490 result(s)

© Image Copyrights Juris Services & Technology

Bombay High Court Directs Refund of Excess Recovery in Income Tax Stay Matter — Petitioner Voluntarily Paid 20% Demand, Revenue Adjusted Refund Beyond Permitted Limit. Adjustment of Refund Against Stayed Demand Violates Instruction No.1914 and Stay Order Dated 17 April 2024.

The petitioner, an individual, filed his return of income for assessment year 2015-2016 on 28 September 2015, declaring income of Rs.56,65,660/-. The ...

© Image Copyrights Juris Services & Technology

Supreme Court Allows Revenue's Appeal in Income Tax Case — Amalgamated Company Must File Return for Pre-Amalgamation Period. Section 153A Notice Validly Issued to Transferor Company Despite Amalgamation, and Failure to File Return Attracts Penalty Under Section 276CC.

The Supreme Court allowed the appeal filed by the Principal Commissioner of Income Tax (Central) against the order of the Delhi High Court, which had ...

© Image Copyrights Juris Services & Technology

Supreme Court Dismisses Assessee in Income Tax Appeal Over TDS Disallowance. Disallowance of Rs. 57,11,625 upheld under Section 40(a)(ia) of Income Tax Act, 1961 as assessee failed to deduct tax at source on payments exceeding Rs. 20,000 per goods receipt to truck operators under Section 194C.

The dispute arose from an income tax assessment for the year 2005-2006 involving Shree Choudhary Transport Company, a partnership firm engaged in tran...

© Image Copyrights Juris Services & Technology

Supreme Court Allows Appeal by Electricity Distribution Company in Theft Case: Parallel Assessment Under Section 126 Permissible Despite Criminal Complaint Under Section 135. Assessment Under Section 126 Not Conditional on Consumer Seeking Restoration of Supply.

The case involves an appeal by West Bengal State Electricity Distribution Company Ltd. against the judgment of the Calcutta High Court which allowed t...

© Image Copyrights Juris Services & Technology

Bombay High Court Dismisses Revenue's Appeal in Income Tax Case — Marhatta Chamber of Commerce Held Eligible for Section 11 Exemption Despite Business Income. Trust's incidental business activity does not forfeit exemption under sections 11 and 12 of the Income Tax Act, 1961.

The case involves an appeal by the Commissioner of Income Tax (Exemptions) against the order of the Income Tax Appellate Tribunal (ITAT), Pune Bench, ...

© Image Copyrights Juris Services & Technology

Bombay High Court Quashes Reassessment Notices Under Section 148 of Income Tax Act, 1961 for Lack of Reason to Believe — Amount Received on Retirement from Partnership Firm Held to be Capital Receipt Not Chargeable to Tax.

The petitioners, Prashant S. Joshi and Dattaram Shridhar Bhosale, were partners in a real estate development partnership firm. They retired from the p...