![Membership Fee received by the Club, refundable after 25 years is Capital Receipt, not Taxable: Gujarat HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/01/Membership-fees-Taxscan.jpg "Membership Fee received by the Club, refundable after 25 years is Capital Receipt, not Taxable: Gujarat HC [Read Judgment]")
Membership Fee received by the Club, refundable after 25 years is Capital Receipt, not Taxable: Gujarat HC [Read Judgment]
In a recent decision, the division bench of the Gujarat High Court has held that the amount received by a Club as security deposit towards the...
![Reference to DVO without Rejecting the Books by the AO would make the Assessment Void: Gujarat HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Gujarat-High-Court-Tax-Scan-1.jpg "Reference to DVO without Rejecting the Books by the AO would make the Assessment Void: Gujarat HC [Read Judgment]")
Relegating a Party to the Alternative Remedy at a belated stage is the discretion of the Court: Gujarat HC [Read Judgment]
In a recent decision, the Gujarat High Court observed that it is the discretion of the Court to relegate a party to the alternative remedy at a belated stage. In the opinion of the Court, it is not an...
![Relegating a Party to the Alternative Remedy at a belated stage is the discretion of the Court: Gujarat HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/06/Gujarat-High-Court-Tax-Scan.jpg "Relegating a Party to the Alternative Remedy at a belated stage is the discretion of the Court: Gujarat HC [Read Judgment]")
Re-Assessment cannot be made on the basis of error in law pointed out by the Audit Party: Gujarat HC [Read Judgment]
In a recent decision, the division bench of the Gujarat High Court opined that re-assessment cannot be made only on the basis of the audit party opinion on a point of law. The While quashing the...
Benefit of Deduction u/s 80HHC not applicable to Loss/Negative profits: Gujarat High Court [Read Judgment]
The division bench of the Gujarat High Court, recently held that the benefit of deduction under section 80HHC of the Income Tax Act cannot be allowed in case of loss or negative profits. The Court...
Transfer Pricing Proceedings can be initiated against the Company, If the directors held more than 20% Shares in an Associate Enterprise: Gujarat HC [Read Judgment]
The High Court of Gujarat while refusing to interfere with the transfer pricing proceedings initiated against a Company, observed that there is prima facie material to show that the directors of the...
“Mere voluntary disclosure of Income without any material evidence cannot form basis of Addition”: Gujarat HC [Read Judgment]
The Gujarat High Court in a recent decision observed that mere voluntary disclosure of income by the assessee under section 132(4) of the Income Tax Act, 1961 cannot form basis of making addition....
Revenue cannot verify the Claim of Deduction already approved by the prescribed Authority under Income Tax Rules; Gujarat HC
The Division Bench of Gujarat High Court in a recent ruling held that once the prescribed authority grants approval for deduction under income tax rules, the revenue cannot verify its conditions. The...