![ITR Filed without Regular Balance Sheet and Profit & Loss Account is Defective, not invalid; AO holds Responsibility for Notifying Defects: Supreme Court [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2024/01/itr-income-tax-returns-supreme-court-ITR-filing-defects-Supreme-Court-ruling-on-ITR-taxscan.jpg "ITR Filed without Regular Balance Sheet and Profit & Loss Account is Defective, not invalid; AO holds Responsibility for Notifying Defects: Supreme Court [Read Judgement]")
ITR Filed without Regular Balance Sheet and Profit & Loss Account is Defective, not invalid; AO holds Responsibility for Notifying Defects: Supreme Court [Read Judgement]
The Supreme Court has asserted that Income Tax Returns ( ITRs ) filed without a regular balance sheet and profit and loss account may be deemed...
![Entry and Variable Annual Licence Fees Paid to Telecom Department is Capital in Nature, Amortisation Permitted u/s 35ABB of Income Tax Act: Supreme Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Entry-Variable-Annual-Licence-Fees-Paid-Telecom-Department-Capital-in-Nature-Amortisation-Permitted-Income-Tax-Act-Supreme-Court-TAXSCAN.jpg "Entry and Variable Annual Licence Fees Paid to Telecom Department is Capital in Nature, Amortisation Permitted u/s 35ABB of Income Tax Act: Supreme Court [Read Order]")
Rejection of Invoice Price of Imported Goods and Enhancement of Value should be Done in Accordance with Rule 8 of Customs Valuation Rules: Supreme Court [Read Order]
In a recent case, the Supreme Court of India held that the rejection of invoice price of imported goods and enhancement of the value of the imported goods should be done under Rule 8 of Customs...
Relief to Birla Corporation: SC rejects Precedential Value of Ruling that GST Department not to have Benefit of Extended Period of Limitation [Read Order]
In a major relief to M/s Birla Corporation Limited, the Supreme Court rejected the precedential value of ruling that GST Department not to have benefit of extended period of limitation The...
![Relief to Birla Corporation: SC rejects Precedential Value of Ruling that GST Department not to have Benefit of Extended Period of Limitation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Relief-to-Birla-Corporation-SC-rejects-Precedentia-l-Value-of-Ruling-GST-Department-Benefit-of-Extended-Period-Limitation-TAXSCAN.jpg "Relief to Birla Corporation: SC rejects Precedential Value of Ruling that GST Department not to have Benefit of Extended Period of Limitation [Read Order]")
Supreme Court Dismisses SLP Seeking Income Tax Search Based on Secret Information for Non- Prosecution [Read Judgment]
The Supreme Court of India dismissed a Special Leave Petition (SLP) seeking income tax search based on secret information and the SLP was dismissed for non prosecution. The SLP arose out of the...
![Supreme Court Dismisses SLP Seeking Income Tax Search Based on Secret Information for Non- Prosecution [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2023/10/Supreme-Court-Dismisses-SLP-Seeking-Income-Tax-Search-Based-on-Secret-Information-for-Non-Prosecution-TAXSCAN.jpg "Supreme Court Dismisses SLP Seeking Income Tax Search Based on Secret Information for Non- Prosecution [Read Judgment]")
Supreme Court restricts Bombay HC's Ruling on Prevailment of Time Limit of S. 153 over S. 144C of Income Tax Act as Precedent [Read Judgement]
A Two-judge bench of Justice B.V. Nagarathna and Justice Ujjal Bhuyan of Supreme Court have restricted the ruling of Bombay High Court on the prevailing time limit of Rs. 153 over Section 144C of the...
Payment of Mandatory Pre- Deposit: SC directs to make Payment before Appellate Authority within 2 Weeks [Read Judgement]
The Supreme Court of India directed the petitioner, M/s Classic Decorators, to make payment before the Appellate Authority within two weeks in the matter of payment of mandatory pre-deposit. The...
Relief To Kotak Mahindra Bank: Supreme Court Upholds Order of Settlement Commission Granting Immunity From Penalty Under Income Tax [Read Order]
The Supreme Court of India upheld the order of the settlement commission granting immunity to Kotak Mahindra from penalty under the Income Tax Act, 1961. The appellant-assessee, Kotak Mahindra...
![Relief To Kotak Mahindra Bank: Supreme Court Upholds Order of Settlement Commission Granting Immunity From Penalty Under Income Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Relief-Kotak-Mahindra-Bank-Supreme-Court-Settlement-Commission-Granting-Immunity-Penalty-Income-Tax-TAXSCAN.jpg "Relief To Kotak Mahindra Bank: Supreme Court Upholds Order of Settlement Commission Granting Immunity From Penalty Under Income Tax [Read Order]")
Dividend income from Indian Entities in Oman Treated as PE under Omani Tax Laws, Not Taxable in India: Supreme Court [Read Order]
The Supreme Court has held that dividend income from Indian entities in Oman is treated as a Permanent Establishment (PE) under Omani tax laws and is not taxable in India. M/s Krishak Bharti...
![Dividend income from Indian Entities in Oman Treated as PE under Omani Tax Laws, Not Taxable in India: Supreme Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Dividend-income-Indian-Entities-Oman-Treated-PE-Omani-Tax-Laws-Not-Taxable-Supreme-Court-taxscan.jpg "Dividend income from Indian Entities in Oman Treated as PE under Omani Tax Laws, Not Taxable in India: Supreme Court [Read Order]")