17 December 2019
Delhi High Court Mool Chand Khairati Ram Trust VS. DIT(E) DATED : 27/07/2015 Summarised Judgement (Scroll for Complete Judgement) Introduction The Tribunal allowed the appeal filed by the Revenue assailing the order of the Commissioner of Income Tax (Appeals). The Assessing Officer had denied the exemption claimed by the Appellant (hereafter the 'Assessee') under Section 11 and 12 of the Act as the AO was of the view that the activities of the Assessee were not in accordance with its objects. In...
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ITAT - MUMBAI DY. CIT (E) -I(1), MUMBAI VS HIS HOLINESS DR. SYEDNA TAHER ... ON 1 MARCH, 2019 Summarised Judgement (Scroll for Complete Judgement) Introduction: This appeal, filed by Revenue, being ITA No. 7131/Mum/2017, is directed against appellate order dated 13.09.2017 in appeal no. CIT(A)-I/IT/E(1)/(139)/2015-16, passed by learned Commissioner of Income Tax (Appeals)-1, Mumbai (hereinafter called "the CIT(A)"), for assessment year 2010-11, the appellate proceedings had arisen before learned...
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SUPREME COURT CIT VS. RAJASTHAN AND GUJARATI CHARITABLE FOUNDATION POONA DATED : 13/12/2017 Summarised Judgement (Scroll for Complete Judgement ) Introduction: These are the petitions and appeals filed by the Income Tax Department against the orders passed by various High Courts granting benefit of depreciation on the assets acquired by the respondents-assessees. Grounds: The first question which requires consideration by this Court is: whether depreciation was allowable on the assets, the cost...
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BOMBAY HIGH COURT CIT VS. INSTITUTE OF BANKING PERSONNEL DATED : 09/07/2003 Summarised Judgement (Scroll for Complete Judgement) Grounds Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in directing the assessing officer to allow depreciation on the assets the cost of which has been fully allowed as application of income under section 11 in the past years? 2. Without prejudice to the ground No. 1, whether on the facts and in the circumstances of the case,...
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ITAT – JAIPUR M/S GANGA DEVI MEMORIAL ... VS INCOME TAX OFFICER (EXEMPTION), ... ON 27 JUNE, 2018 Summarised Judgement (Scroll for Complete Judgement) This appeal by the assessee is directed against the order dated 1st February, 2018 of ld. CIT (A)-3, Jaipur for the assessment year 2012-13. The assessee has raised the following grounds of appeal :- " 1. Under the facts and circumstances of the case the assessment order passed by the learned Assessing Officer is unlawful, illegal and unjustified...
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ITAT - DELHI DR. PURAN CHAND DHARMARTH TRUST, ... VS ITO, GURGAON ON 4 MAY, 2018 Summarised Judgement (Scroll for Complete Judgement) Present appeal has been filed by assessee against order dated 24/02/2011 passed by Ld. CIT (A), Panchkula for assessment year 2007-08 on the following grounds of appeal: That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of Ld. AO in denying the exemption u/s 11 & 12 and erred in making...
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ITAT - BANGALORE SRI JNANAKSHI EDUCATIONAL ... VS INCOME TAX OFFICER (EXEMPTION)... ON 27 JUNE, 2018 ITA.751 & 552/BANG/2017 Summarised Judgement (Scroll for Complete Judgement) These are two appeals filed by the Revenue and the assessee respectively against the order of the CIT (A) -14, dt.27.12.2016, for the assessment year 2012-13. Facts of the Case: The facts of the case are, the assessee is a recognised and registered charitable trust entitled to exemption u/s.11 of the Act. While completin...
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• Case Laws - Benami Property • Case Laws Section - 68 • Case Laws Penalty U/S 271 (1) (C) • Case Laws Stay of Demand U/S 220 • Summary - Case Laws on Section 68 • Case Laws Section - 148 • Case Laws Section - 11 • Case Laws on DTAA
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TAXATION LAWS AMENDMENT, 2019 The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposal for introducing the Taxation Laws (Amendment) Bill, 2019 in order to replace the Ordinance. Economic developments after the enactment of the Finance (No. 2) Act, 2019 (Finance Act) along with reduction of rate of corporate income tax by many countries world over necessitated the provision of additional fiscal stimulus to attract investment, generate employment and boost the...
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Digital Companies Scramble To Save On Tax - India Tightens Data Laws- 12-12-2019 Global digital giants are scrambling to explore and find ways for tax arbitrage to get around India’s personal data protection bill that requires them to have their servers and data in India. The fear for companies such as Google, Facebook, Netflix, Amazon and LinkedIn is that if the servers sit in India, it would be seen as a permanent establishment (PE) and will eventually attract higher tax. PE is a concept in ta...
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