Income Tax – Employee Contribution – Deduction of Employees' Contributions to PF/ESI – Section 36(1)(va) vs. Section 43B – Contributions must be deposited on or before the due date specified in the respective acts for deduction eligibility – Distinction between employer's contribution (Section 36(1)(iv)) and employees' contribution (Section 36(1)(va)) uphe...
Foreign Exchange Regulation Act, 1973 (FERA) – Sections 9(1)(b) and 9(1)(d) – Violation of – Seizure of cash from petitioner’s cloth store – Show Cause Notices issued alleging contravention of FERA provisions – First Show Cause Notice set aside in appeal – Second Show Cause Notice issued after the first one was set aside – No substantial evidence to ...
Income Tax Act, 1961 – Section 148 — Notice — Amalgamation of Companies — Legal principle — Approved scheme of amalgamation results in cessation of existence of amalgamating entity — Notices issued post amalgamation in the name of amalgamating company lack jurisdiction.
Maruti Suzuki India Ltd., Adani Wilmar Ltd., Inox Wind Energy Ltd. — Estab...
Income Tax Appeal – Assessment under Section 153A – Validity of initiating proceedings under Section 153A – Appellant challenges the order of the Income Tax Appellate Tribunal – Questions raised regarding the scope of assessment under Section 153A and applicability of CIT Vs Kabul Chawla and Dr. A.V. Sreekumar judgments – Appellant did not press question No. 2.1 &ndas...
Income Tax – Reassessment Notices – Applicability of Limitation Period – Assessment Years 2016-17 and 2017-18 – Notices issued under Section 148 of the Income Tax Act, 1961, post-enactment of Finance Act, 2021, treated as issued under Section 148A(b) – Validity of reassessment actions including orders under Section 148A(d) and consequent notices under Section 148 &nda...
Income Tax – Reassessment proceedings under Section 148 – Challenge against issuance of notice for reassessment – Impugned notice based on ‘reason to believe’ that income had escaped assessment – Writ petition filed against proceedings. [Paras 1-6]
Income Tax Return – Filing and processing of return – Return for Assessment Year 2011-12 p...
Income Tax Appeal - Exemption for charitable activities - Appellant's challenge to reliance on High Court judgment - Issue of applicability of judgment in a similar case - Whether activities of the respondent qualify for tax exemption - Court's consideration of the nature of activities conducted by statutory corporations - Emphasis on excluding activities serving public purposes from busin...
Taxation Law - Tax Demand – Setting Aside of Arbitrary Tax Demand: Petitioner challenged tax demand of Rs. 21,50,150/- for AY 2012-13 raised by respondent – Employer deducted tax but failed to deposit with revenue – Reliance on Section 205 of the Income Tax Act and pertinent judgments – Held, demand set aside as petitioner cannot be penalized for employer’s non-compli...
Service Tax – Manpower Recruitment or Supply Agency – Appellant engaged FSE for the appearance of tennis player VA in the Chennai Open Tennis Tournament – Service tax demand raised under 'manpower recruitment or supply agency' – Supreme Court held that the definition under Section 65(68) does not require an employer-employee relationship between the agency and the p...
Income Tax – Charitable Trusts – Section 2(15) – Revenue sought clarification on judgment dated 19.10.2022 – Supreme Court clarified that the application of the law declared in the judgment is limited to the assessment years in question before the court – For future assessment years not before the court, authorities must apply the law declared in the judgment consider...