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407 orders · Page 7 of 9
The Tribunal held that Section 80P(4) is applicable only to co-operative banks registered under the Banking Regulation Act, 1949, and not to credit co-operative societies registered under the Karnataka Co-operative Societies Act, 1959. This decision aligns with previous High Court judgments on the matter.
The High Court permitted the Revenue to withdraw the appeal. Liberty was granted to revive the appeal if the case falls under exceptions mentioned in the circular.
The High Court permitted the appellant (Revenue) to withdraw the appeal based on the revised monetary limits. Liberty was granted to revive the appeal if the case falls under exceptions mentioned in the circular.
The High Court held that the recurring nature of a tax liability does not exempt it from the monetary limit prescribed for preferring an appeal. The principles of res judicata are not attracted to tax jurisprudence, as also indicated by Section 268A of the Income Tax Act.
The High Court allowed the Revenue Department to withdraw the appeal. The Court noted that the tax effect was below the prescribed monetary limit for High Court appeals as per the CBDT Circular No. 3/2018.
The High Court permitted the appellant (Revenue) to withdraw the appeal. Liberty was granted to revive the appeal if the matter falls under exceptions mentioned in the circular.
The High Court held that appeals under Section 260-A of the IT Act are not maintainable unless ex-facie perversity in the ITAT's findings is established. Disputes regarding the selection of comparable companies do not typically raise substantial questions of law.
The High Court held that the rental income received from occupants of the industrial park is assessable under the head 'business or professional income'. This was decided in favor of the assessee, following a previous identical judgment.
The High Court held that losses of non-STP units should not be set off against profits of STP units before computing Section 10A deduction. It also held that telecommunication and insurance expenses incurred outside India should be excluded from 'export turnover' and 'total turnover' for Section 10A deduction.
The High Court held that the transactions were not outright sales but a transfer of rights to use software. Consequently, the second substantial question of law regarding deductions under Sections 28 and 37 did not arise for consideration.
The High Court dismissed the review petition, stating the matter could not be kept pending. However, they granted the Revenue liberty to seek a review if the Apex Court's decision overturns the precedent relied upon.
The High Court disposed of the appeal in terms of its earlier judgments in Yokogawa India Ltd. and Tata Elxsi Ltd., answering the substantial questions of law in favour of the assessee. The Assessing Officer was directed to pass consequential orders only after the Supreme Court's decision on the pending appeals.
The High Court disposed of the appeal in the same terms as a previous judgment, directing the Assessing Officer to decide the issues in accordance with the decision of the Supreme Court on related matters.
The High Court held that the substantial questions of law were already decided against the revenue and in favour of the assessee by various High Court and Supreme Court judgments. Consequently, the appeal filed by the revenue was dismissed.
The Tribunal held that the assessee, not being a shareholder of M/s. Ittina, could not be taxed under Section 2(22)(e) of the IT Act, even if the shareholders of both companies were common. The High Court agreed with this interpretation.
The High Court held that the substantial questions of law raised were already answered in favor of the Revenue by previous judgments of the same court. Therefore, no substantial question of law arose for consideration.
The Tribunal found that the assessee should have been given an opportunity to prove reasonable cause for non-compliance and that the availability of banking facilities was not adequately considered. The matter was remanded to the Assessing Officer for fresh consideration.
The High Court held that the recurring nature of a tax liability does not exempt it from the monetary limit prescribed for preferring an appeal. The Court found no merit in the Revenue's contention and dismissed the review petition.
The High Court followed its previous judgment in a similar case (ITA No.488/2013) which held that dividend should be taxed in the hands of the shareholder, not the firm. Consequently, the ITAT order setting aside the Section 263 proceeding was upheld.
The High Court disposed of the appeal in terms of the Tata Elxsi Ltd. judgment, answering the substantial questions of law in favour of the assessee. The Assessing Officer was directed to pass consequential orders after the Supreme Court's decision on a pending SLP.
The High Court held that the trial court's order discharging the accused was not illegal. It found that the trial court had considered various aspects, including the properties in the names of the accused's wife and father, their independent income, and the accused's own income tax and property returns, leading to the conclusion that there was no unexplained investment or concealment of income.
The High Court held that appeals under Section 260-A are not maintainable if they do not raise substantial questions of law. Issues regarding the selection of comparables and filters do not, in their considered opinion, give rise to such questions.
The High Court held that there was a nexus between the accidental injuries and the cause of death, and that the amount received under a Mediclaim policy should be deducted from the medical expenses awarded. The compensation for other heads was enhanced.
The High Court held that the recurring nature of a tax liability does not exempt it from the monetary limit prescribed for preferring an appeal. The court found no merit in the Revenue's contention and dismissed the review petition.
The High Court disposed of the appeal in terms of the Tata Elxsi Ltd. judgment, answering the substantial questions of law in favour of the assessee. The Assessing Officer was directed to pass consequential orders only after the Supreme Court's decision on the pending SLP.
The High Court permitted the appellant (Revenue) to withdraw the appeal. Liberty was granted to seek revival if the matter falls under exceptions mentioned in a previous circular.
The High Court held that the amendment to Section 40(a)(ia) by the Finance Act, 2010, should be given retrospective effect from April 1, 2005, as it is curative in nature and intended to allow deductions if TDS was deducted and paid before the filing of the return. The Tribunal's view of it being prospective was considered an error.
The High Court held that the doctrine of res judicata does not apply to income tax assessments as each year is a fresh case. Therefore, even if the appeal is dismissed, the authorities can still collect tax in subsequent years if the tax effect is higher.
The High Court held that the substantial questions of law were answered against the revenue, following a Supreme Court judgment. Therefore, the appeal filed by the revenue was dismissed.
The High Court dismissed the review petition, noting that Circular No. 3/2011, which increased the tax effect threshold, was not retrospective. The court also stated that if the circular is held to be prospective, the Revenue can seek a review based on that.
The High Court allowed the appeal to be withdrawn, noting that the tax effect was below the revised monetary limit for filing appeals. The court did not answer the substantial questions of law.
The High Court allowed the appeal to be withdrawn by the Revenue. The court noted that the tax effect was below the revised monetary limit specified in the CBDT circular.
The High Court disposed of the appeal in terms of the Tata Elxsi Ltd. judgment, answering the substantial questions of law in favour of the assessee. The Assessing Officer was directed to pass a consequential order after the Supreme Court's decision on a pending SLP.
The High Court noted that the petitioner's counsel filed a memo stating that the writ petition had become infructuous. Consequently, the High Court dismissed the writ petition as having become infructuous. No decision was made on the merits of the underlying tax dispute or the entitlement to a stay on recovery. The operative direction was the dismissal of the writ petition. The ITAT appeal was not decided by this order.
The High Court held that an exchange of property is akin to a sale. Therefore, the exemption granted to the Union of India for stamp duty on property purchase should also apply to property exchanges, provided the difference in value is paid.
The High Court upheld the finding of contributory negligence at 50% for each driver. The court modified the compensation awarded, particularly for a minor who suffered a permanent disability, and adjusted the interest rate on compensation for other claims.
The High Court held that the petitioner's remedy was to seek revival of the earlier order by filing an appropriate application, not by filing a review petition. Liberty was granted to pursue this revival.
The High Court held that the petitioners had no locus standi to maintain the writ petition as they were not directly affected by the impugned order and had not filed it in public interest. The court found no infringement of their rights.
The High Court held that the substantial question of law regarding the classification of payments as royalty and the applicability of Sections 195 and 40(a) was answered in favor of the revenue. The appeal was allowed with observations regarding potential future appeals to the Apex Court and the applicability of the India-Netherlands DTAA.
The High Court held that the Revenue's remedy was to seek revival of the original appeal, not to file a review petition. The review petition was rejected with liberty to the Revenue to seek revival.
The Court directed the respondent to take immediate steps to refund any excess tax collected for the assessment year 2008-09. The grievance regarding other assessment years was no longer surviving.
The High Court held that the questions raised in the appeal were covered by a previous Division Bench judgment. Therefore, the appeal was dismissed, answering the questions against the assessee.
The High Court held that the First Appellate Court erred in acquitting the accused by wrongly re-appreciating the evidence. The complainant's financial capacity was sufficiently proven, and the defense that the cheque was stolen was not substantiated.
The High Court permitted the Revenue to withdraw the appeal based on the revised monetary limits. Liberty was granted to revive the appeal if the case falls under any exceptions mentioned in the circular.
The High Court allowed the petitioners' request to dismiss the review petition and the delay condonation application as withdrawn. Liberty was granted to the petitioners to file a rectification application for any typographical errors.
The High Court held that the ITAT was incorrect in its decision. The court answered the substantial questions of law in favour of the revenue, setting aside the ITAT's order.
The High Court allowed the appeal and remanded the matter back to the ITAT for reconsideration. This was based on a previous judgment where the Tribunal's order was set aside and the case was remitted for a decision on merits.
The Tribunal held that the loss on revaluation of securities was an allowable business loss. However, the High Court disagreed and ruled that the securities were investments, not stock-in-trade, and thus the loss was not deductible. The High Court also remanded the bad debt claim for re-examination.
The High Court allowed the revenue's appeals, setting aside the Tribunal's orders. However, it remanded the matter to the Assessing Officer to recompute the deduction under Section 80HHC, applying the Supreme Court's ratio in ACG Associated Capsules Pvt. Ltd. regarding conversion charges.
The tribunal held that Section 206AA of the Income Tax Act is inapplicable to persons whose income is less than the taxable limit, as it runs contrary to Section 139A. Financial institutions should not invariably insist on PAN from such small investors.