Income Tax Judgements

1. Suretech International :Held equipment for recovery and peak performance of batteries being subject matter of determination, do not form part of “ Renewable energy devices and spare parts” covered under item no. 58 of third schedule to DVAT ACT, 2

In this determination, in context of the question "What is the rate of tax upon Electric Motors and Switch gears/starters which are used as a part of Machinery”, it is held that the subject items do not find any place in any of the schedules of Act,

Deemed dividend can be assessed only in hands of a person who is a shareholder of lender company. If a person is a registered shareholder but not beneficial shareholder then provisions of section 2(22)(e) would not apply and similarly if a pers

Landmark Madras High Court ruling on taxability of off-shore supply (turnkey contracts) India Italy DTAA etc.

Dismissed Assessee's Appeal: Section 80IB Deduction involved: Commercial Production Year. In our view this finding is a pure finding of fact. If that be so, according to us, no question of law, much less a substantial question of law arises for our c

Once revenue has not challenged a CIT-A order on a subject matter, same cannot be disturbed by invoking section 154 seeking to rectify appeal effect order originally passed (On part of AO)

In this case, DHC has affirmed ITAT order which has emphasized and pointed that in case Deptt Valuation report do not consider material facts relating to a property, an assessee can rebut /dislodge the same by placing its own valuer's report, which i

(engaged in trading of shares etc): for the first time, in context of explanation to section 73 of the Act (dealing with classification of loss arising from sale/purchase of shares in hands of a company assessee as speculative loss).

BHC in context of reopening within four years (not covered by proviso to section 147), held that AO cannot form a prima facie opinion that deduction is not allowable and accordingly reopen the assessment on the ground that income chargeable to tax ha