![Setback to Arcelor Mittal: Supreme Court upholds Gujarat Tax Department’s levy of Rs 480 cr Purchase Tax [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2022/01/Arcelor-Mittal-Supreme-Court-Gujarat-tax-department-Levy-Purchase-tax-Taxscan.jpg "Setback to Arcelor Mittal: Supreme Court upholds Gujarat Tax Department’s levy of Rs 480 cr Purchase Tax [Read Judgment]")
Setback to Arcelor Mittal: Supreme Court upholds Gujarat Tax Department’s levy of Rs 480 cr Purchase Tax [Read Judgment]
In a setback to Arcelor Mittal, the Supreme Court has upheld the Gujarat tax department’s levy of Rs 480 crore purchase tax. The...
![Income Tax Department cannot raise fresh claims after a Resolution Plan is approved: Bombay High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2022/01/Income-Tax-Department-Resolution-Plan-Bombay-High-Court-Taxscan.jpeg "Income Tax Department cannot raise fresh claims after a Resolution Plan is approved: Bombay High Court [Read Judgment]")
![Fresh Reassessment Notice to be issued for assessing Additional Income not part of Original Assessment: Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2022/01/Fresh-Reassessment-Notice-assessing-additional-income-original-assessment-Bombay-High-Court-Taxscan.jpg "Fresh Reassessment Notice to be issued for assessing Additional Income not part of Original Assessment: Bombay HC [Read Judgment]")
![Relief to Vodafone Idea: Mere change of Opinion of the AO can’t be reason to Reopen Assessment, rules Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Relief-Vodafone-Idea-AO-Reopen-Assessment-Bombay-HC-Taxscan.jpg "Relief to Vodafone Idea: Mere change of Opinion of the AO can’t be reason to Reopen Assessment, rules Bombay HC [Read Order]")
![ITAT upholds Disallowance due to Non-Payment of TDS on Hire Charges paid for Leasing Equipments [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/ITAT-Disallowance-Non-Payment-TDS-Hire-Charges-Leasing-Equipments-Equipments-Taxscan.jpeg "ITAT upholds Disallowance due to Non-Payment of TDS on Hire Charges paid for Leasing Equipments [Read Order]")
ITAT quashes Penalty Order as it suffered from Vagueness, didn’t provide sound legal basis for Imposition of Penalty [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has quashed the Penalty Order as it suffered from vagueness, and did not provide sound legal basis for imposition of penalty. The assessee,...
![ITAT quashes Penalty Order as it suffered from Vagueness, didn’t provide sound legal basis for Imposition of Penalty [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/ITAT-Quashes-Penalty-Order-Penalty-Order-Vagueness-Sound-legal-basis-Imposition-Of-Penalty-Taxscan.jpg "ITAT quashes Penalty Order as it suffered from Vagueness, didn’t provide sound legal basis for Imposition of Penalty [Read Order]")
AO under guise of Power to re-open Assessment can’t undertake a Fishing or Roving Inquiry or seek to verify the claim like a Scrutiny Officer: ITAT [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the AO under guise of power to re-open Assessment cannot undertake a fishing or roving inquiry or seek to verify the claim like a...
![AO under guise of Power to re-open Assessment can’t undertake a Fishing or Roving Inquiry or seek to verify the claim like a Scrutiny Officer: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/AO-Quise-of-power-re-open-Assessment-Fishing-Roving-inquiry-Scrutiny-Officer-ITAT-Taxscan.jpg "AO under guise of Power to re-open Assessment can’t undertake a Fishing or Roving Inquiry or seek to verify the claim like a Scrutiny Officer: ITAT [Read Order]")
Depreciation for Resorts shall be allowed for Entire Year even if used less than 180 Days: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the depreciation under section 32 of the Income Tax Act, 1961 shall be granted for resorts for the entire year despite the fact...
![Depreciation for Resorts shall be allowed for Entire Year even if used less than 180 Days: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/01/Depreciation-Resorts-Entire-Year-Used-Less-Than-180-days-ITAT-Taxscan.jpg "Depreciation for Resorts shall be allowed for Entire Year even if used less than 180 Days: ITAT [Read Order]")
Setback to Bennett Coleman: Assessee required to pay Interest where Advance Tax paid is less than 75% of Assessed Tax, says Bombay HC [Read Judgment]
In a major setback to Bennett Coleman, the Bombay High Court held that the assessee required to pay interest where advance tax paid is less than 75% of the assessed tax. In respect of the...
![Setback to Bennett Coleman: Assessee required to pay Interest where Advance Tax paid is less than 75% of Assessed Tax, says Bombay HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/12/Setback-Bennett-Coleman-Assessee-Advance-tax-Assessed-tax-Bombay-HC-Taxscan.jpg "Setback to Bennett Coleman: Assessee required to pay Interest where Advance Tax paid is less than 75% of Assessed Tax, says Bombay HC [Read Judgment]")
‘Corporate Guarantee’ can be treated as ‘International Transaction’: ITAT [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the Corporate Guarantee’ cannot be treated as an ‘international transaction’ for the purpose of section 92 of the Income Tax...
![‘Corporate Guarantee’ can be treated as ‘International Transaction’: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/12/Corporate-Guarantee-International-Transaction-ITAT-Taxscan.jpg "‘Corporate Guarantee’ can be treated as ‘International Transaction’: ITAT [Read Order]")
CBDT issues Instructions on Uploading Information on VRU Functionality on Insight Portal for Implementation of Risk Management Strategy for Issuance of Notice [Read Circular]
The Central Board of Direct Taxes (CBDT) has issued the instructions regarding uploading information on Verification Report Upload (VRU) functionality on Insight portal for implementation of risk...
![CBDT issues Instructions on Uploading Information on VRU Functionality on Insight Portal for Implementation of Risk Management Strategy for Issuance of Notice [Read Circular]](https://www.taxscan.in/wp-content/uploads/2021/12/CBDT-VRU-taxscan.jpeg "CBDT issues Instructions on Uploading Information on VRU Functionality on Insight Portal for Implementation of Risk Management Strategy for Issuance of Notice [Read Circular]")
Bombay HC quashes Notice for Reopening of Assessment as it can’t be done merely on basis of Change of Opinion [Read Order]
The Bombay High Court quashed the Notice for Reopening of assessment as it cannot be done merely on the basis of change of opinion. The Petitioner, Rich Feel Health and Beauty Private Limited has...
![Bombay HC quashes Notice for Reopening of Assessment as it can’t be done merely on basis of Change of Opinion [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/12/Bombay-High-Court-Notice-Reopening-of-assessment-Taxscan.jpg "Bombay HC quashes Notice for Reopening of Assessment as it can’t be done merely on basis of Change of Opinion [Read Order]")