Direct Tax
TOLA | Rajeev Bansal Case Can’t Be Construed Affirming Authority Of Joint Commissioner To Approve Reassessment Notice Post 01 April 2021: Delhi High Court
The Delhi High Court has held that the Rajeev Bansal Case cannot possibly be construed or read as affirming the authority of a Joint...
Collection Of Market Information Doesn’t Qualifying Benchmarks Of PE, Seconded Employees Not Carrying Business Of Samsung Korea: Delhi High Court
The Delhi High Court has held that none of the activities undertaken by those seconded employees could be said or construed to be the...
School To Pay Water-Tax And Sewerage-Tax Even If Exempted From Building Tax: Allahabad High Court
The Allahabad High Court has held that the School is liable to pay water-tax and sewerage-tax even if exempted from building tax.The bench of...
Income Tax Weekly Flashback: 5 to 11 January 2025
Income Tax Weekly Flashback for the period 5 to 11 January 2025.Supreme CourtReduction In Share Capital Of Subsidiary Company Is Transfer Of Asset Under...
AO Not Certain About Allegation Of Accommodation Entries; Delhi High Court Quashes Income Tax Reassessment
The Delhi High Court has quashed the reassessment proceedings on the ground that the Assessing officer (AO) was not certain about allegations of accommodation...
Time Period For Framing Assessment Expired & No Outstanding Demand, Income Tax Authorities Can’t Retain Seized Cash: Delhi High Court
The Delhi High Court has held that if the time period for framing an assessment under Section 153A of the Income Tax Act has...
Mandatory Twin Conditions To Be Fulfilled For Transferring Cases From One AO To Another: Himachal Pradesh High Court
The Himachal Pradesh High Court has held that twin conditions to be complied with by the income tax department for transferring the case of...
Reduction In Share Capital Of Subsidiary Company Is Transfer Of Asset Under Income Tax Act: Supreme Court
The Supreme Court has held that reduction in share capital of the subsidiary company and subsequent proportionate reduction in the shareholding of the assessee...