The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has recently allowed a deduction to Fiserv India and held that the amount of stamp duty paid for obtaining the business premises on lease is...
A Casino Vessel is a seagoing vessel of any kind on which gambling takes place. Historically, international waters began just three miles from land in many countries. Gambling ships, like offshore radio stations, would be...
The Bombay High Court while granting a major reprieve for Vodafone Idea Limited on Friday directed the income tax department to refund Rs. 833 crore to the telecom major in two weeks. The telecom major,...
The Bombay High Court held that making a wrong claim is not at par with concealment or giving inaccurate information which may call for levy of penalty under Section 271(1)(c) of the Income Tax Act,...
The Bombay High Court on Friday refused to grant relief to Varthan Pathak, President of Corporate Affairs, Yash Birla Group and held that stumbling of officer upon Contraband like Cocaine during Income Tax Search doesn’t...
The Bombay High Court has quashed criminal complaints filed by the Serious Fraud Investigation Office (SFIO) against the erstwhile auditors of Infrastructure Leasing and Financial Services Ltd (IL&FS). and its non-bank lending arm for alleged...
The Bombay High Court has recently held that the time limit prescribed to file TRAN-1 under Rule 117 of the Goods and Services Tax Rules is not ultra vires of the Central GST Act, 2017....
The Bombay High court held that the profit element embedded in purchases would be subjected to tax and not to the entire amount. The division bench comprising Justices Milind N Jadhav and Ujjal Bhuyan was...
The Bombay High Court while affirming the right of the assessee and held that the deduction which is not claimed earlier can be claimed during the proceeding under Section 151A. In the case of Commissioner...
While dismissing the appeal, the Bombay High Court has observed that Income from Sale of Agricultural land will attract Income Tax as the assessee was dealing in the sale of properties. The Appellant Afonzo Real...
In the case of M/s. Ami Industries (India) P Ltd, the High Court of Bombay has ruled that there shall be no addition of share application money by the Assessing Officer to the income of...
In a Relief to General Motors Overseas Corporation, the Income Tax Appellate Tribunal (ITAT) reaffirmed that no interest is leviable on the assessees under Section 234B of the Income Tax Act, even on the filing...
The Supreme Court has upheld the order of Bombay High Court that the Dream11 is a Game of Skill and not a Game of Chance, not come under Gambling, will attract 18% GST. The petitioner...
The Bombay High Court has disallowed an interim relief to directors who were disqualified under section 164(2) of the Companies Act 2013 for not filing Financial Statements and Annual Returns which is to be considered...
The Rajasthan High Court has held that the mere skill will not fall within the activity of gambling or betting. The PIL has been filed by the petitioner claiming himself to be a resident of...
The Pune bench of the Income Tax Appellate Tribunal (ITAT), has recently held that the license fees received for the use of the Industrial Parks should be assessed as business income. While dismissing a departmental...
The Delhi High Court held that no Bar of appointments of advocates as receivers under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (also known as the SARFAESI Act)....
The Bombay High Court has reiterated that the security exchange is entitled to exercise its right of lien on security deposits. The Writ Petition was filed by the Stock Exchange Bombay, now called as Bombay...
While allowing a writ petition filed by M/s. Gehna Trading LLP, the Bombay High Court has held that the Provisional Attachment Power is to be used in only limited circumstances and it is not an...
The Supreme Court of India has held that when the liability to pay an erroneously withheld sum is acknowledged and accepted by the Revenue Department, then to deny relief by directing payment in terms of...
The Bombay High Court held that TDS provisions under section 194H of the Income Tax Act, 1961 are not attracted on discounts given by the assessee to the distributors of prepaid SIM cards The High...
© 2020 Taxscan | Simplifying Tax Laws
