Articles for Tax Court

Switzerland Revokes India’s MFN Status
1 week, 4 days ago

Switzerland Revokes India’s MFN Status

Deccan Chronicle  

Mumbai: Switzerland has suspended the Most-Favoured-Nation status granted to India that could lead to higher taxes on Indian companies operating in the European nation. Effective January 1, 2025, Indian companies operating in Switzerland will be subjected to a heightened withholding tax rate on income such as dividends and royalties generated in Switzerland. This decision follows a ruling by the Indian …

India Tax Indian Mfn Switzerland Revokes
Indian-origin trader in Denmark gets 12-year jail for $1.2-billion tax fraud
1 week, 5 days ago

Indian-origin trader in Denmark gets 12-year jail for $1.2-billion tax fraud

India Today  

A 54-year-old Indian-origin British hedge fund trader has been sentenced to 12 years in prison in Denmark after being found guilty of tax fraud that cost the Danish government over $1.2 billion. Shah, founder of London-based hedge fund Solo Capital Partners, was also handed a permanent entry ban to Denmark and will have assets worth $1 billion 7.2 billion) seized, …

Fraud Tax Tax Fraud Denmark Shah Billion Bbc
Big court relief to Ajit Pawar as assets seized in benami case cleared
2 weeks, 5 days ago

Big court relief to Ajit Pawar as assets seized in benami case cleared

India Today  

In major relief to Maharashtra Deputy Chief Minister and Nationalist Congress Party leader Ajit Pawar, the Income Tax Department on Friday cleared all his properties seized in the 2021 benami case. The case originated on October 7, 2021, when the Income Tax Department conducted raids on several companies, recovering documents that purportedly linked certain properties to Ajit Pawar and his …

Mumbai Properties Maharashtra Income Pawar Tribunal His Family
Tax Monthly Digest: November 2024
3 weeks, 1 day ago

Tax Monthly Digest: November 2024

Live Law  

SUPREME COURT DRI Officers Can Issue Show-Cause Notices Under Customs Act : Supreme Court Allows Review Against 'Canon India' Judgment Case Details : COMMISSIONER OF CUSTOMS vs. M/S CANON INDIA PRIVATE LIMITED Case no. A division bench of Justices Vibhu Bakhru and Swarana Kanta Sharma ruled, “Assessee's contention that E4e Healthcare is functionally dissimilar to the assessee and therefore, could …

Delhi Supreme Court Writ Petition Writ Jurisdiction Tax Court Uttar Pradesh
Recovery Action Against Company Directors Cannot Be Initiated If Status Of Assessee Is Non-Existent: Madras High Court
1 month, 1 week ago

Recovery Action Against Company Directors Cannot Be Initiated If Status Of Assessee Is Non-Existent: Madras High Court

Live Law  

The Madras High Court ruled that recovery actions against the directors of a company cannot be initiated if the status of the assessee is non-existent. However, in the case of dissolution, the entity wholly ceases to exist.” In this case, the assessee company was ordered to be wound up, and an Official Liquidator was appointed to manage the company's liquidation. …

Case Company Act Recovery Action
Amount Received In Advance For Services To Be Treated As Income Of Assessee, Chargeable Under Income Tax: Madras High Court
1 month, 1 week ago

Amount Received In Advance For Services To Be Treated As Income Of Assessee, Chargeable Under Income Tax: Madras High Court

Live Law  

The Madras High Court ruled that any amount received in advance for services should be treated as the income of the assessee and is, therefore, subject to income tax. However, if an assessee fails to adopt “Accounting Standards” properly for computation of income, the discretion is vested with the Assessing Officer under Section 145 of the Income Tax Act, 1961.” …

Tax Income Tax Income Service Department Advance Received
Supreme Court Quashes FIR Against HDFC Bank & Officials for Violating Income Tax Dept Order
Trending News
2 months ago

Supreme Court Quashes FIR Against HDFC Bank & Officials for Violating Income Tax Dept Order

Live Law  

The Supreme Court today quashed a criminal case registered against HDFC Bank Ltd. for violating the notice issued by the Income Tax Department to stop the operation of bank accounts, fixed deposits, and lockers of an income tax assessee. The court found that the FIR did not disclose the commission of any offence and made out a case against the …

Law Crime Justice Legal Proceedings Patna
Supreme Court Quashes FIR Against HDFC Bank & Officials for Violating Income Tax Dept Order
Trending News
2 months ago

Supreme Court Quashes FIR Against HDFC Bank & Officials for Violating Income Tax Dept Order

Live Law  

The Supreme Court today quashed a criminal case registered against HDFC Bank Ltd. for violating the notice issued by the Income Tax Department to stop the operation of bank accounts, fixed deposits, and lockers of an income tax assessee. The court found that the FIR did not disclose the commission of any offence and made out a case against the …

Law Crime Supreme Court Legal Proceedings Patna
Word 'Approved' By PCCIT For Reopening Of Assessment Not Enough, Reasons Necessary, Delhi High Court
4 months ago

Word 'Approved' By PCCIT For Reopening Of Assessment Not Enough, Reasons Necessary, Delhi High Court

Live Law  

The Delhi High Court has held that mere appending of the word “approved” by the PCCIT while granting approval under Section 151 of the Income Tax Act to the reopening under Section 148 is not enough.The bench of Justice Yashwant Varma and Justice Ravinder Dudeja has observed that while the Principal Chief Commissioner of Income Tax is not required to …

Record Tax Income Tax Delhi High Court Order Income Approval
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
Indirect Tax Weekly Round-Up: 21 To 27 July 2024
4 months, 3 weeks ago

Indirect Tax Weekly Round-Up: 21 To 27 July 2024

Live Law  

Supreme Court Customs Act | Owner Of Goods Liable To Pay Customs Duty Even After Confiscated Goods Are Redeemed Paying Fine : Supreme Court Case Title: M/S Navayuga Engineering Co. Ltd. Madras High Court Interest Can't Be Demanded When Entire Stamp Duty Paid During Pendency Of Appeal: Madras High Court Case Title: The Chief Revenue Controlling Authority Chennai Versus R.Muniyandi …

Kerala Tax Court Customs Title Kerala High Court 2024
Lawyer calls social media influencer Andrew Tate and his brother serial tax evaders
5 months, 2 weeks ago

Lawyer calls social media influencer Andrew Tate and his brother serial tax evaders

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Social media influencer Andrew Tate's …

England Tax Romania Brother Clarke Tate Tristan
The Supreme Court has refused to ban NEET counseling | Let's Catch Up
6 months, 1 week ago

The Supreme Court has refused to ban NEET counseling | Let's Catch Up

ABP News  

Episode Description The Supreme Court has refused to ban NEET counseling TDP chief Chandrababu Naidu has been elected as its leader by the NDA legislature party Pradeep Kumar of Meerut, who was injured in the Reasi terrorist attack in Jammu and Kashmir, has made new revelations regarding the incident The Center approved the release of tax devolution of Rs 1,39,750 …

Calcutta High Court Weekly Round-Up: 3rd June To 9th June, 2024
6 months, 1 week ago

Calcutta High Court Weekly Round-Up: 3rd June To 9th June, 2024

Live Law  

Nominal IndexAnkit Kumar Agarwal Versus The Assistant Commissioner of State Tax, Taltala Charge & Ors. Vs M/S Ramswarup Lohh Udyog & Ors Citation: 2024 LiveLaw 139 Principal Commissioner Of Income Tax-9, Kolkata Vs. Bina Gupta Citation: 2024 LiveLaw 140 Ignoring GSTR-9 Causes Prejudice To Taxpayer's Rights When Errors Committed Are Revenue Neutral: Calcutta High Court Case Title: Ankit Kumar Agarwal …

India Tax Court Lok Sabha 2024 Calcutta High
Indirect Tax Cases Weekly Round-Up: 26 May To 01 June 2024
6 months, 3 weeks ago

Indirect Tax Cases Weekly Round-Up: 26 May To 01 June 2024

Live Law  

Madras High Court No Embargo On Commercial Tax Dept. Allahabad High Court S.75 CGST | Allahabad HC Directs Commissioner To Take Disciplinary Action Against Adjudicating Authorities Violating PONJ Without Justifiable Reasons Case Title: Ns Agro And Engineering Products v. State of U.P. Franchise Agreement Granted Non-Exclusive Licence Rather Than Transfer Of Right To Use Goods, VAT Not Payable: Allahabad High …

Tax Court Title High Madras High Court Allahabad U P
UPVAT | Computation Of Correct ITC Be Examined By Assessing Authority Not Later Than Stage Of Making Regular Assessment Order: Allahabad High Court
7 months, 1 week ago

UPVAT | Computation Of Correct ITC Be Examined By Assessing Authority Not Later Than Stage Of Making Regular Assessment Order: Allahabad High Court

Live Law  

The Allahabad High Court has held that computation of correct input tax credit can only be done till the passing of the regular assessment order by the Assessing Authority and not at a later stage. Section 29 of the UPVAT Act empowers the Assessing Authority to initiate reassessment proceedings against an assesee if there is “reason to believe” that whole …

Tax Court Reassessment Assessment Order Held Proceedings
Reassessment Order Can't Merely Be Based On Tax Evasion Report Or An Audit Report: Orissa High Court
7 months, 2 weeks ago

Reassessment Order Can't Merely Be Based On Tax Evasion Report Or An Audit Report: Orissa High Court

Live Law  

The Orissa High Court has held that reassessment orders cannot merely be based on a tax evasion report or an audit report.The bench of Justice B.R. Sarangi and Justice G. Satapathy has observed that it is not enough if the Assessing Officer refers to the tax evasion report or an audit report; he has to independently apply his mind and …

Tax Court Reassessment Order Report Notice Orissa High Court
[Income Tax Act] Supreme Court Decision In UOI v. Ashish Agarwal Applicable To Parties Who Challenged Notice U/S 148: Allahabad High Court
8 months ago

[Income Tax Act] Supreme Court Decision In UOI v. Ashish Agarwal Applicable To Parties Who Challenged Notice U/S 148: Allahabad High Court

Live Law  

The Allahabad High Court has held that Supreme Court in Union of India v. Ashish Agarwal had not issued a general mandamus quashing all notices issued under Section 148 of the Income Tax Act, 1961. In Union of India v. Ashish Agarwal, the Union Government had challenged the order of the Allahabad High Court quashing the reassessment notices issued by …

Supreme Court High Court Court Reassessment Assessment Union Order
Delhi High Court Interpretes Rule 11UA For Determination FMV Of Shares U/S 56(2)(viib)
8 months, 2 weeks ago

Delhi High Court Interpretes Rule 11UA For Determination FMV Of Shares U/S 56(2)(viib)

Live Law  

The Delhi High Court has held that it has interpreted Rule 11UA of the Income Tax Rules, 1962, for determining the fair market value of shares under Section 56 of the Income Tax Act, 1961.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that Section 56 postulates that the FMV of shares shall be the value …

Tax Income Value Rule Shares Valuation Inr
Indirect Tax Cases Weekly Round-Up: 17 To 23 March 2024
9 months ago

Indirect Tax Cases Weekly Round-Up: 17 To 23 March 2024

Live Law  

Supreme Court Case Title: M/s Global Technologies and Research versus Principal Commissioner of Customs, New Delhi Citation : 2024 LiveLaw 239 Recently, the Supreme Court held that under the Customs Act, the Importer's Bill of Entry of subsequent imported goods can be discarded if the subsequent imported goods are undervalued to the previously imported identical or similar goods. Allahabad High …

Tax Court Customs Title Service 2024 State
Service Tax Not Liable To Be Paid On Ocean Freight/Sea Transportation Services: Bombay High Court
9 months, 2 weeks ago

Service Tax Not Liable To Be Paid On Ocean Freight/Sea Transportation Services: Bombay High Court

Live Law  

The Bombay High Court has held that service tax is not liable to be paid on ocean freight or sea transportation services.The bench of Justice G. S. Kulkarni and Justice Firdosh P. Pooniwalla has relied on the decision of the Gujarat High Court in the case of SAL Steel Ltd. vs.. Union of India, in which it was held that …

India Transportation Tax Court Services Ocean Bombay High Court
S.5 Limitation Act Applies To Rectification Of Orders U/S 31 Of UP VAT Act: Allahabad High Court
9 months, 2 weeks ago

S.5 Limitation Act Applies To Rectification Of Orders U/S 31 Of UP VAT Act: Allahabad High Court

Live Law  

The Allahabad High Court has held that Section 5 of the Limitation Act will apply to rectification of orders passed by officer, authority, Tribunal or the High Court under Section 31 of the Uttar Pradesh Value Added Tax Act, 2008. Section 31 of the Uttar Pradesh Value Added Tax Act, 2008 provides that any officer, authority, Tribunal or the High …

Tax Court Application Order Limitation Tribunal High
Direct Tax Cases Weekly Round-Up: 25 February To 3 March 2024
9 months, 2 weeks ago

Direct Tax Cases Weekly Round-Up: 25 February To 3 March 2024

Live Law  

Supreme Court Case Title: Bharti Cellular Limited v. Assistant Commissioner of Income Tax and Another Citation : 2024 LiveLaw 176 In a significant development, the Supreme Court recently held that under Section 194-H of the Income Tax Act, 1961, cellular mobile service providers are not liable to deduct tax at source on income/profit component in payments received by their franchisees/distributors …

Tax Court Income Tax Title Income Held High
Supreme Court Seeks Union's Response On Plea Against HC Judgment Upholding Anti-Profiteering Provisions Under CGST Act
10 months, 1 week ago

Supreme Court Seeks Union's Response On Plea Against HC Judgment Upholding Anti-Profiteering Provisions Under CGST Act

Live Law  

The Supreme Court on February 12 issued notice in a plea filed against the Delhi High Court order upholding constitutional validity of anti-profiteering provisions under the CGST Act and Rules.Passing the order, the Bench of CJI DY Chandrachud, Justices JB Pardiwala and Manoj Misra clarified that the issuance of notice shall not be construed as a restraint on the High …

Supreme Court Constitution Tax Delhi High Court Rules High Act