Articles for High Income

Kamala Harris claims to speak for the middle class — but what does that even mean?
1 month, 3 weeks ago

Kamala Harris claims to speak for the middle class — but what does that even mean?

Salon  

Since replacing her boss atop the 2024 Democratic ticket, Kamala Harris has cast herself as an agent of generational change who would open "a new way forward" for the American people. In Joe Biden's acceptance speech at the 2020 Democratic National Convention, he uttered the phrase "middle class" just once. Harris has continued to use that refrain on the campaign …

Europe Wealth Trump Democratic Middle Class Democrats Harris
Direct Tax Weekly Round-Up: 4 To 10 August 2024
4 months, 1 week ago

Direct Tax Weekly Round-Up: 4 To 10 August 2024

Live Law  

Delhi High Court Amendment In Section 153C Income Tax Act Can't Be Interpreted For Revival Of Already Time Barred Proceedings: Delhi High Court Case Title: PCIT Versus Karina Airlines International Ltd. Reopening Based On Entirely New Material Deprives Taxpayer's Right To Object To Re-Assessment: Delhi High Court Case Title: Banyan Real Estate Fund Mauritius Verses Assistant Commissioner Of Income Tax …

Tax Court Income Tax Title Income Held High
MHADA lottery 2024: Apartments worth ₹29 lakh to ₹7.58 crore up for sale in Mumbai draw
4 months, 2 weeks ago

MHADA lottery 2024: Apartments worth ₹29 lakh to ₹7.58 crore up for sale in Mumbai draw

Hindustan Times  

The Maharashtra Housing and Area Development Authority lottery has 2030 apartments up for grabs this year. It revealed lavish High Income Group flats ranging from ₹1 crore to ₹7.58 crore in areas such as Tardeo, Goregaon, Malad, Borivali, Mulund and Juhu. High Income Group flats ranging from ₹ 1 crore to ₹ 7.58 crore in areas such as Tardeo, Goregaon, …

Mumbai Lottery Income 2024 Crore Group Lakh
Duty Of Public Servant's Wife To Discourage Him From Taking Bribe: Madras High Court Refuses To Set Aside Conviction Of Sub-Inspector's Wife
6 months, 3 weeks ago

Duty Of Public Servant's Wife To Discourage Him From Taking Bribe: Madras High Court Refuses To Set Aside Conviction Of Sub-Inspector's Wife

Live Law  

The Madras High Court has refused to set aside the conviction of the wife of a Sub-Inspector of Police accused of accumulating wealth disproportionate to his income. Justice KK Ramakrishnan noted that though the Public Servant was no more, his wife should face consequences under Section 109 read with Sections 13 and 13 of the Prevention of Corruption Act. The …

Corruption Court Deivanayaki
Direct Taxes Weekly Round-Up: 19 To 25 May 2024
6 months, 3 weeks ago

Direct Taxes Weekly Round-Up: 19 To 25 May 2024

Live Law  

Delhi High Court Case Title: PT Bukaka Teknik Utama Versus Commissioner Of Income Tax, Delhi - 2 The Delhi High Court has held that the assessee can't be obstructed from availing of the benefits of the Direct Tax Vivad se Vishwas Act, 2020 even where the time limit for an appeal has not expired. Case Title: New Delhi Television Limited …

India Delhi Tax Court Income Tax Title Income
Elon Musk makes startling prediction, says 'Artificial Intelligence will eliminate all jobs in future'
7 months ago

Elon Musk makes startling prediction, says 'Artificial Intelligence will eliminate all jobs in future'

India TV News  

Artificial Intelligence: Tesla CEO Elon Musk expressed his views on the future of Artificial Intelligence and its impact on employment during a startup and tech event in Paris on Thursday. Universal high income: Beyond basic support Musk emphasised that for a future where jobs are optional to be successful, there would need to be a "universal high income." He cited …

Job Jobs Musk Elon Musk Ubi Future Ai Universal High Income
S.144B(6) Income Tax Act | If Assessee “Requests” Then Opportunity Of Personal Hearing Is Mandatory, Not Optional: Allahabad High Court
7 months, 1 week ago

S.144B(6) Income Tax Act | If Assessee “Requests” Then Opportunity Of Personal Hearing Is Mandatory, Not Optional: Allahabad High Court

Live Law  

The Allahabad High Court has held that opportunity of personal hearing is mandatory under Section 144B and of the Income Tax Act, 1961 when show cause notice is issued regarding why assessment may not be completed as proposed. The bench comprising of Justice Saumitra Dayal Singh and Justice Donadi Ramesh held that “the word "request" used under Section 144B and …

Personal Court Assessment Order Opportunity Hearing Held
Direct Tax Cases Quarterly Digest 2024
8 months, 2 weeks ago

Direct Tax Cases Quarterly Digest 2024

Live Law  

Supreme Court Case Title: Herbicides India Limited vs ACIT 2024 LiveLaw 44 While setting aside the Rajasthan High Court orders, the Supreme Court restored the assessee's appeals by condoning the delay in filing the paper-book before High Court and observed that the assessee is entitled to have his appeals heard on merits. AO Lacks Jurisdiction To Pass Draft Assessment Order …

High Court Tax Court Citation Income Tax Title Delhi High Court
Delhi High Court rejects Congress’s plea against tax reassessment
9 months ago

Delhi High Court rejects Congress’s plea against tax reassessment

The Hindu  

In a huge setback to the Congress ahead of the Lok Sabha elections, the Delhi High Court on Friday rejected its pleas challenging the reassessment proceedings initiated against it by the Income Tax department. The Congress has challenged initiation of proceedings under Section 153C of the Income Tax Act for assessment pertaining to assessment years 2014-15 to 2016-17. The I-T …

Tax Court Congress Assessment Income
I-T department raised tax demand in 2021 but you did not act, Delhi High Court tells Congress
9 months, 1 week ago

I-T department raised tax demand in 2021 but you did not act, Delhi High Court tells Congress

The Hindu  

The Delhi High Court on Tuesday reserved its judgment on the Congress’s plea challenging an order of the Income Tax Appellate Tribunal that refused to stay a notice issued by the Income Tax department for recovery of outstanding dues of more than ₹100 crore. ‘Balanced view’ The High Court, however, told the Congress’s counsel that though the tax demand was …

Tax Court Congress High Demand Crore Department
High earners could be banned from renting council houses
10 months, 3 weeks ago

High earners could be banned from renting council houses

The Telegraph  

People with high incomes would be banned from renting council houses under proposals by Michael Gove to ensure that homes go to those in the greatest financial need. The latest figures show that 186,000 social households have an income exceeding £50,000 – 4.6 per cent of the total – despite there being long waiting lists among people in much greater …

Social Housing Social Housing Test British Council High Income
Delhi High Court Directs Income Tax Commissioner To Accept BCI's Form No.10 After Condoning Delay
11 months, 2 weeks ago

Delhi High Court Directs Income Tax Commissioner To Accept BCI's Form No.10 After Condoning Delay

Live Law  

The Delhi High Court has directed the income tax commissioner to accept Form No. The petitioner, Bar Council of India, has sought quashing of an order passed by the Commissioner of Income Tax and directions to the respondent to accept Form No. The petitioner also requested that the respondent dispose of the application for condonation of delay in filing Form …

Tax Bar Council Income Tax Delhi High Court Income Delay Act
Income Not Sufficient For Treatment & Reintegration: Calcutta High Court Directs Payment Of Further Compensation To Male Acid Attack Survivor
1 year ago

Income Not Sufficient For Treatment & Reintegration: Calcutta High Court Directs Payment Of Further Compensation To Male Acid Attack Survivor

Live Law  

The Calcutta High Court has directed the State Legal Services Authority to consider and enhance the compensation awarded to a male acid attack survivor. Under the West Bengal Victim Compensation Scheme, the petitioner was paid Rs 3 lakh, which was the minimum stipulated amount.A single bench of Justice Sabyasachi Bhattacharya upon noting that the petitioner had credibly pointed out that. …

Treatment Compensation Court Victim Attack Reintegration Victim Compensation Scheme
Tax Cases Weekly Round-Up: 10 To 16 December, 2023
1 year ago

Tax Cases Weekly Round-Up: 10 To 16 December, 2023

Live Law  

Delhi High Court Case Title: PCIT Versus Oxygen Business Park Pvt. Case Title: ATT SYS India Pvt Ltd Estex Tele Private Limited Consortium Versus The Commissioner Goods And Services Tax Delhi The Delhi High Court has directed the restoration of GST registration as no opportunity for a hearing was accorded to the petitioner or assessee. Case Title: Pepsico India Holdings …

Delhi Tax Court Title Income Held High
Bombay High Court Dismisses Petition Filed By Serum Institute Of India Challenging 2016 Amendment To Income Tax Act
1 year ago

Bombay High Court Dismisses Petition Filed By Serum Institute Of India Challenging 2016 Amendment To Income Tax Act

Live Law  

The Bombay High Court has dismissed a petition filed by Serum Institute of India Pvt. Ltd. challenging a 2016 amendment to the Income Tax Act.The bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that the amendment to Section 2 by insertion of the impugned sub-clause that includes various subsidies and concessions only indicates the well-established jurisprudential. …

Tax Court Income Tax Act Economic Income Amendment Petition
Tax Cases Weekly Round-Up: 05 November To 11 November, 2023
1 year, 1 month ago

Tax Cases Weekly Round-Up: 05 November To 11 November, 2023

Live Law  

Delhi High Court Case Title: BT Private Limited Versus UOI Citation: 2023 LiveLaw 1082 The Delhi High Court has held that a CENVAT credit refund cannot be denied in the absence of the self-assessed return having been questioned, reviewed or re-assessed. Case Title: Shreyash Retail Private Ltd Versus Deputy Commissioner Of Income Tax TDS Circle Citation: 2023 LiveLaw 1102 The …

India Tax Court Title Income Tribunal Held
Income Tax Adjudication Proceedings And Criminal Prosecution Are Independent To Each Other: Madras High Court
1 year, 1 month ago

Income Tax Adjudication Proceedings And Criminal Prosecution Are Independent To Each Other: Madras High Court

Live Law  

The Madras High Court has held that income tax adjudication proceedings and criminal prosecution are independent of each other; the pendency of one does not affect the other.The bench of Justice G.K. Ilanthiraiyan has observed that the adjudication proceedings and the criminal prosecution are independent of each other, and the pendency of any adjudication proceeding is not a bar to. …

Tax Court Penalty Prosecution Jewellery Assessment Order
Write-Off Of A Bad Debt Can’t Be Held To Be An Asset Under Section 153A(1) Of The Income Tax Act, 1961: Bombay High Court
1 year, 3 months ago

Write-Off Of A Bad Debt Can’t Be Held To Be An Asset Under Section 153A(1) Of The Income Tax Act, 1961: Bombay High Court

Live Law  

The Bombay High Court has held that a write-off of a bad debt cannot be held to be an asset under section 153A of the Income Tax Act, 1961.The bench of Justice K. R. Shriram and Justice Firdosh P. Pooniwalla has observed that since the write-off of bad debt cannot be held to be an asset, clause of the 4th …

Court Bombay High Court Assessment Debt Income Held Officer
Bombay High Court Declares Notices And Proceedings Under Income Tax Act For Deceased Assessee As Null And Void
1 year, 5 months ago

Bombay High Court Declares Notices And Proceedings Under Income Tax Act For Deceased Assessee As Null And Void

Live Law  

While emphasizing that if the concerned officers followed the settled law and refrained from issuing null and void notices, it would be beneficial not only for the citizens but also for the already overburdened courts in the country, the Bombay High Court ruled that all notices and consequential proceedings under the Income Tax Act in the name of a deceased …

Tax Court Income Tax Income Tax Act Income Notice Pan
Payroll Services By IBM Philippines Not FTS, TDS Not Liable To Be Deducted: Karnataka High Court
1 year, 10 months ago

Payroll Services By IBM Philippines Not FTS, TDS Not Liable To Be Deducted: Karnataka High Court

Live Law  

The Karnataka High Court, while dismissing the appeal of the department, held that payroll services by IBM Philippines are not fees for technical services, and the TDS is not liable to be deducted.The division bench of Justice P.S. The Karnataka High Court, while dismissing the appeal of the department, held that payroll services by IBM Philippines are not fees for …

India Tax Services Technical Income Philippines Kar
IT Act | Challenge To Notice Under S.226, Without Challenge To Demand Under S.200A, Not Maintainable: J&K&L High Court
1 year, 11 months ago

IT Act | Challenge To Notice Under S.226, Without Challenge To Demand Under S.200A, Not Maintainable: J&K&L High Court

Live Law  

The Jammu and Kashmir and Ladakh High Court on Tuesday ruled that a challenge to the notices issued by the Assessing authority under Section 226, without challenging the intimation of demand made by the Assessing authority under Section 200A of the Income Tax Act is not maintainable. 3, the intimation under Section 200A was treated as a notice of demand …

Tax Court Income Tax Act Income Respondent No Respondent Notice
Attachment By Tax Dept. Subsequent To A Mortgage Favouring Secured Creditors Has No Legs: Madras High Court
2 years ago

Attachment By Tax Dept. Subsequent To A Mortgage Favouring Secured Creditors Has No Legs: Madras High Court

Live Law  

The Madras High Court has held that the orders of attachment passed by the Tax Recovery Officer or Income Tax Department were subsequent to the mortgage created in favour of the secured creditors and have no legs.The division bench of Justice R. Mahadevan and Justice Mohammed Shaffiq has observed that even if recovery proceedings are quashed for any reason, the …

Tax Recovery Income Mortgage Bankruptcy Act Priority
In The Absence Of A Full And True Disclosure, Reassessment Is Not Barred By Limitation: Madras High Court
2 years, 1 month ago

In The Absence Of A Full And True Disclosure, Reassessment Is Not Barred By Limitation: Madras High Court

Live Law  

The Madras High Court has held that the criminal investigation wing is separate and distinct from the assessment wing and that disclosure made before one wing will not exonerate the assessee from the requirement of making a "full and true disclosure" before the assessing officer in an assessment.The single bench of Justice Anitha Sumanth has observed that in the absence …

Assessment Bank Icici Wing Madras High Court Petitioner Disclosure
Free money is coming to Californians to offset high gas prices. Will it also come with a tax bill?
2 years, 2 months ago

Free money is coming to Californians to offset high gas prices. Will it also come with a tax bill?

LA Times  

To help ease the pain of high gasoline prices, eligible Californians will start receiving tax refunds of $200 to $1,050 Friday under a budget deal approved by the Legislature and signed by Gov. The stated purpose of the $9-billion “Middle Class Tax Refund” is to offset high gasoline prices, although under the deal the money will go to people who …

Taxes Payments Income California High Federal 2020