VIJAY KRISHNASWAMI @ KRISHNASWAMI VIJAYAKUMAR vs. THE DEPUTY DIRECTOR OF INCOME TAX (INVESTIGATION)

Bench: The Additional Chief Metropolitan Magistrate (E.O.Ii), Egmore, Chennai, For The Offence Under Section 276C(1)2 Of The Income Tax Act, 1961, (In Short “It Act”) For Assessment Year 2017- 1 High Court Of Judicature At Madras. 2 Wilful Attempt To Evade Tax, Etc. 1 Digitally Signed By Gulshan Kumar Arora Date: 2025.08.28 20:56:48 Ist Reason: Signature Not Verified

271(1)(C) exceeding Rs.50,000/- is imposed and confirmed by the ITAT (if any second appeal has been filed) shall be processed for filing prosecution complaint. The case for prosecution under this section shall be processed by the A.O. preferably within 60 days of receipt of the ITAT’s order, if any.” The intent of the above scheme

COMMR.OF INCOME TAX,SIMLA vs. M/S GREEN WORLD CORPORATION

Appeals are disposed of with the aforementioned directions

Penalty proceedings u/s 271(1)(c) are initiated separately for furnishing of in-accurate particulars of income assessed. The Assessing Officer is directed to calculate the tax and interest on this income and issue Demand Notice and Challan to the assessee firm. 6 17. Similar conditions i.e. non fulfillment of the prerequisite conditions for deduction u/s 80IA/IB and excessive declared

PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) 2 vs. M/S MAHAGUN REALTORS (P) LTD

The appeal is allowed, in the above terms, without order on costs

Bench: HON'BLE THE CHIEF JUSTICE

exemption under Section 80IA) - because it is entity or unit specific. In the case of carry forward of losses and profits, a nuanced approach has been indicated. All these provisions support the idea that the enterprise or the undertaking, and the business of the amalgamated company continues. The beneficial treatment, in the form of set-off, deductions (in proportion

GENPACT INDIA PRIVATE LIMITED vs. DEPUTY COMMISSIONER OF INCOME TAX

Bench: HON'BLE THE CHIEF JUSTICE

u/s 46A in the hands of shareholders. However, taking the benefit of Article 13 of India-Mauritius DTAA, which provides for capital gain arising on transfer of shares of Mauritius resident taxable in that country and under Mauritius tax laws capital gain is totally exempt, entire transaction used to escape the tax net. Thus to plug this loop hole