Income Tax Judgements
Penalty: Concealment of income - Voluntary surrender of inco
Rupesh Maheshwari 02 February 2009 at 16:15
There was a general investigation by the Investigation wing regarding a fake gift racket. There was no information with the AO when the assessee voluntarily surrendered the income, that gifts or credits received by assessee were fake. In the assessme
Search u/s 132
Arbind Aggarwal 02 February 2009 at 16:15
Income tax - Search u/s 132 - assessee is a tax consultant - Revenue conducts a search - finds papers related to bogus TDS certificates and refund collected from Revenue -
Sec 56 - assessee was a partner in a firm
Arbind Aggarwal 02 February 2009 at 16:15
Income tax - Sec 56 - assessee was a partner in a firm - Firm reconstituted after the death of one of the partners - assessee continued to be a partner in the new firm -
Judicial Indiscipline
Arbind Aggarwal 01 February 2009 at 15:00
Swamiji in jail - His income cannot be treated as income of TRUST - amounts which have 'come in' are income - the amounts received by the writ petitioner constituted income since it was profits and gains arising out of his vocation, profession or bus
Income Tax - set off of the loss
Arbind Aggarwal 01 February 2009 at 15:00
Income Tax - set off of the loss suffered in any of the previous year in the block period against the income assessed in other previous years in the block period is not prohibited:
HIGH COURT OF KERALA ON SECTION 143, read with section 36(1)
CA Pawan Goswami 25 January 2009 at 01:16
Section 143, read with section 36(1)(vii), of the Income-tax Act, 1961 - Assessment - Prima facie adjustments - Assessment year 1994-95 - Whether as section 36(1)(vii) does not authorise granting of deduction of any debt unless it is written off in a
Appellate power of Tribunal
CA CS CIMA Prakash Somani 20 January 2009 at 00:50
The assessee has written off 1/5th of deferred revenue expenditure in its books of account and claimed the expenditure on deferred basis in its return of income.
TDS
CA. A. Kumar 15 January 2009 at 20:44
Case Fact: Whether, allowing exemption for children education and leave travel on the basis of declaration and affidavits given by the employees, the Tribunal was justified in law?
TDS on value of free food coupens
CA CS CIMA Prakash Somani 15 January 2009 at 20:44
Income Tax Act, 1961 - Sections 17 and 192 - Free meals coupon issued to employees - Some of them misusing the same - Whether company is liable to deduct TDS from the value of such free coupons provided – Held, No.
Vatika matter Surcharge in search cases (Larger Bench)
Taxguy 12 January 2009 at 20:43
Surcharge on block assessment cases whether retrospective from 01.06.2002 or not - matter refered to larger bench in SC.
CAclubindia
