News Muncher - searching for tax - category section 260a

The Gauhati High Court refused to entertain an appeal with respect to genuineness of credit received by an assessee from share application money, holding that the same would require it to venture into factual matrix of the case which is beyond its jurisdiction under Section 260A of the Income Tax Act, 1961. The appeal was preferred by the Revenue, following …

Tax Weekly Round-Up: December 02 - December 08, 2024

Tax

Income Tax

Appeals U/S 260A Of Income Tax Act Not Sustainable In Absence Of Perversity In Tribunal's Fact Finding: Allahabad High Court

While entertaining an Income Tax Appeal, the Allahabad High Court has held that an appeal under Section 260A of the Income Tax Act, 1961 cannot be sustained without establishing a perversity with the fact finding of the Tribunal. A catena of Supreme Court judgments have concluded that in relation to facts, no substantial question of law would arise unless the …

Income Tax Act

The Supreme Court reiterated that an appeal under Section 260A of the Income Tax Act against orders of Income Tax Appellate Tribunal lies only before the High Court within whose territorial jurisdiction the assessing officer is located.As per Section 260A of IT Act, an appeal shall lie to the High Court from every order passed in appeal by the Appellate …

Settling a crucial issue, the Supreme Court, on Thursday, held that appeals against orders of Income Tax Appellate Tribunal will lie only before the High Court within whose jurisdiction the assessing officer is situated. The Apex Court clarified that even if the case is transferred in exercise of power under Section 127 of the Income Tax Act, which enables a …

The Delhi High Court has ruled that in an appeal to the High Court under Section 260A of the Income Tax Act, 1961 there can be no interference with the finding of fact if it involves re-appreciation of the evidence. The counsel for the CIT before the Delhi High Court submitted that the ITAT had not considered the fact that …