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Income Tax Search and Seizure: Seizure of undisclosed jewellery and its assessment thereupon- Legal Treatise

Taxscan Team

Introduction: The Central Board of Direct Taxes vide Instruction no. 1916 dated 11-05-1994, clarified that no seizure should be made by the Search...

Delhi High Court orders clubbing of complaints for having an account in Switzerland with Intention...

Belated payment of Service Tax collected can be allowed on Actual Payment in AY in which it was...

IT Dept to tackle People receiving 5 lakh and above as Interest Income from Fixed Deposits

Original Owner can be Assessed when he Leased Out Property to Family Members and then Sub-leased to...

Partner Entitled to get IT Refund Granted to Firm after its Reconstitution: Calcutta HC [Read Judgment]

A division bench of the Calcutta High Court in Madu Ghosh v. CIT (Admn) held that a partner of a Firm can claim the amount already granted to the said Firm after its reconstitution. The sole...

Gujarat HC deletes Addition of 2.3 crores against Gujarat Rural Industries Marketing Corporation [Read Judgment]

In a major relief to Gujarat Rural Industries Marketing Corporation, the division bench of the Gujarat High Court deleted addition of 2.3 crores made by the Income Tax authorities. Assessee, is a...

Compounding Application cannot be Rejected on Ground of Limitation or Non-Payment of Compounding Fee: Delhi HC [Read Judgment]

In Vikram Singh v. UOI & Anr, the division bench of the Delhi High Court held that the Income Tax authorities cannot reject a compounding application by stating that it is barred by limitation or...

Hyderabad HC directs IT Dept to relax PMGKY Rules to help doctors to avail the benefit of the Scheme

The Hyderabad High Court has directed the Income Tax authorities to relax some of the conditions of the recent Pradhan Mantri Garib Kalyan Yojana, introduced by the Central Government...

IT Authorities should Examine the Genuine Hardships of Assessee while Considering Stay Petitions: Karnataka HC grants stay to Flipkart

In a major relief to Flipkart, the Karnataka High Court held that Income Tax Authorities are bound to examine the genuine hardships of the assessee while considering stay petitions. Granting stay...

Writ Petition challenging Sec 148 Notice is maintainable before the High Court: Supreme Court [Read Order]

The Supreme Court recently, remanded the writ petitions dismissed by the High Courts on ground that such petitions are not maintainable before the Court by pointing out the Apex Court decision in...