Famous income tax cases in india. Goodyear South Asia .

Famous income tax cases in india Oct 11, 2023 · In 2012, India’s retrospective tax amendment was introduced. Dec 20, 2019 · Here she discusses “Top 5 Income Tax Lawyers in India and One Landmark Case They Argued”. . com 302 (Bombay) Petitioner was desirous of availing the benefit of DTVSV Act with respect to certain pending income tax litigations and filed an application under the DTVSV Act. Mansukh Dyeing and Dec 12, 2022 · India v Olympus Medical Systems India. R& administrative expenses which fall under section 44C of the Income Tax act, 1961 and hence are subject to the ceiling under section 44C. Dec 17, 2021 · 1. Vodafone used a structure that routed the transaction through Cayman Islands-based entities to avoid capital gains tax in India. f. Chemicals challenged the dis allowance of their claim for deductions on the grounds of incorrect computation. Union of India (2011) Arunachala Gounder (Dead) By Lrs v. Stay informed on significant legal developments in the GST regime. Domestic corporations incur a surcharge of 10% on income over INR 10 million. The Deputy Commissioner of TDS u/s 195 - payments made in the nature of royalty under Article 13(3) of the India-UK Double Taxation Avoidance Agreement (DTAA) - payments made towards Global brand, Global Communications and Global technology/Knowledge Management - HELD THAT:- Tribunal in assessee s own case for A. R. ACIT (2017) 397 ITR 10 : 250 Taxman 14 : 84 taxmann. The firm has highly accomplished lawyers, chartered accountants and tax consultants who have extensive experience and proficiency in tax litigation, tax optimization and tax strategy. : R/Special Civil Application No. T. What portion of the income can be reasonably attributed to the operations carried out in India is Dec 31, 2019 · The Following are the important Tax Judgments delivered by the Supreme Court of India in 2019. In case of not paying the tax due, a penalty is imposed which cannot exceed the due amount. Explore key Supreme Court cases that reshaped laws on personal liberty, gender rights, reservations, and more. S. As the year draws to an end, and in a reflective mood, we look back at the most notable cases over the last twelve months. However, only the income tax evasion for his revenue got him arrested. Shivaram for All India Federation of Tax Practitioners & The Income Tax Appellate Tribunal Bar Association 215, Rewa Chambers, 2nd Floor, 31, New Marine Lines, Mumbai - 400 020. Taxation Laws are prescribed for the payment of various taxes including income tax, general tax, service tax, sales tax etc. The CBDT has issued this directive under Section 119 of the Income-tax Act, 1961, to ensure pending work is completed before the financial year ends. Download the detailed PDF for insights. 46 crore, people pay the tax. Rammohan Rao Vs. 13/02/25: CMJ Foundation Vs. [1] being the lead case. Tax2win, an online tax filing platform, provides the easiest way to e-file your Income Tax Return in India. 4 did not consider the claim of the petitioner qua Circular bearing No. Aug 26, 2018 · (i) the amount of income-tax calculated on such long-term capital gains exceeding one lakh rupees at the rate of ten per cent; and (ii) the amount of income-tax payable on the total income as reduced by the amount of long-term capital gains referred to in sub-section (1) as if the total income so reduced were the total income of the assessee: Apr 15, 2024 · Shri Rajesh Mannalal Katariya v. These rulings have significant implications for GST administration, field formations, taxpayers, and professionals. 986 of 2019 dated February 29, 2024], relying upon sub-section (7) of Section 140 of the Central Goods and Services Tax Act, 2017 adjourned the matter for further hearing and continued the interim stay granted in favor of Taxpayer being Input Tax Lawyers Near Me: Contact top rated Tax lawyer in Bangalore/Bengaluru to defend you if a tax authority accuses you of under-reporting your taxes, and if you are in violation of any tax law. There has been controversies related to tax avoidance. Nambiar (1970) Jan 16, 2023 · 1) Held by the Hon’ble Gujarat High Court in the case of Ball Aerosol Packaging India (P. The trouble is whether or not income tax authorities can depend absolutely on such outside findings . This has been granted to them under the new income tax bill. Out of 130 population of the country only 1. 2019, Circular No. Dec 24, 2023 · It can be hiding income or falsely showing wrong income by various unrealistic deductions while filing their income tax. Eisenberg, Theodore; Kalantry, Sital; and Robinson, Nick, ’Litigation as a Measure of Well-Being’ (2012). Kamalkishor Shrigopal Taparia Vs. Deputy Commissioner of Income- tax & Anr. So, let’s see what was involved in the case and what argument was made by the investment fund involved in the case. Jan 5, 2022 · Thus, it was held that the applicant’s income is taxable in India as business profit in both the previous year’s 2010-11 and 2011-12. Calcutta Vs Commissioner of Income Tax, West Bengal, (1977) Facts. Union of India (2020) AR Antulay v. 14. Form”, and going by the Supreme Court decision in Azadi Bachao Andolan case, there would be capital gains taxable in India under the Indian Income-tax Act. Ltd and the paper company. 4. 7822 of 2021 Date of Judgement/Order: 09/07/2021 About Applicant(petitioner): Charitable trust Running a medical store for indoor & outdoor patients Providing medicine at a lower rate . The penalty of not proving correct details or concealing the income tax will be 100% to 300% of the tax evaded as per section 271(C) of the Income Tax Act 1961. Get free contact details of the best Tax advocates near by. Dec 22, 2020 · Maruti Suzuki India Ltd. Hence, it would be tax free. Mehsana District Co-op. Case Details: Concentrix Services Netherlands B. of Income tax; and • understand the provisions of Income tax on the basis of the judgement given on such cases by the Supreme Court. 17-03-2025 - CBDT issues Circular on Frequently Asked Questions (FAQs) relating to Revised Guidelines for Compounding of Offences under Income-Tax Act, 1961 dated 17. Apr 3, 2023 · A. 4 million in income. Chemicals (2002) Background: This case addressed the issue of tax deductions under Section 80HHC of the Income Tax Act, which provides deductions for export profits. Most famous tax court cases in IRS history 1. Nagri Eye Research Foundation v. Narayanan regarding the Collegium system. Cornell Law Faculty Working Papers, Paper 99 Supreme Court High Court Income-tax Appellate Tribunal Assessing Officer Commissioner of Income-tax (Appeals)/ DRP Mar 12, 2025 · Your email and social media account can be accessed by income tax officers starting financial year 2026-27 in these cases. The Income Tax Appellate Tribunal constituted in the year 1941 as an independent appellate forum to redress the grievances under the Income-tax Act is all set to celebrate its Platinum Jubilee Year on the 25th of this month. Understand legal precedents and navigate tax law confidently. Chandrachud and J. The Indian revenue authorities considered that acquisition of stake in HEL by Vodafone was liable for tax deduction at source under Section 195 of the Income Tax Act, 1961. 20. Srinivas: 13/02/25: Union of India through the Assistant Director Vs. (page 4 of AO. Devadhar. State of Meghalaya: 13/02/25: P. On the failure of payment by the VIHBV, a case was initiated against the company. 193/05/23/GST dated 17. The Republic of India (PCA Case No. ). Goodyear South Asia Nov 29, 2022 · The profit that the Hong Kong entity earned through this deal, triggered the Indian Government, which demanded tax payment by VIHBV for the acquisition of the stake of the Indian company. Section 50AA of the Income Tax Act, 1961 Cost of acquisition in case of depreciable asset: Clause 75 of the Income Tax Bill, 2025 vs. The taxpayer’s tax preparer omitted only one of those forms from the taxpayer’s return for 2006; however, that Form 1099-MISC, Miscellaneous Income, reported nearly $3. Mission Pharma Logistics (India) Pvt. 1996 to 17. Enrol to StudyIQ's Flagship UPSC IAS (Pre + Mains) LIVE Foundation Batch 9. , Vol 8, pp 13025-6 3. C. May 23, 2023 · Constitution of India, 1950; Article 14, 15, 21 - Income Tax Act, 1961; Section 10(26AAA) Proviso - Proviso to Section 10(26AAA) inasmuch as it excludes from the provision of exemption a Sikkimese outside India and therefore Vodafone International Holding does not fall within the scope of section 163 of the Income Tax Act 1955. N. (2008) 307 ITR 83 (Guj. in, Abhishek endeavors to revolutionize how individuals file their income tax returns, offering a seamless and user-friendly experience. Cairn received a notice from India’s Income Tax department in 2014. This blog delves into some of these cases that have shaped the understanding and application of contempt laws in India. Retrospective taxation: the Vodafone case Context: The Permanent Court of Arbitration at The Hague gave a assessee should be assessed under the head “Income from house property” and not under the head “Profits and gains from business or profession. In In a famous case, the Income Tax Department of India used forensic accounting techniques to uncover a tax evasion scheme involving a well-known builder. Indian Union (UOI). 04. Sampath Iyenger’s Law of Income Tax, 11th Ed. Can the rental income from the unsold flats of a builder be treated as its business income merely because the assessee has, in its wealth tax return, claimed that the unsold flats were Dec 2, 2021 · 2006-07) - [Ashokbhai H. 12. 5 billion ($29. 1,300 cases. com 196 (SC)] Burden of Proof - The onus of proving the source of deposit primarily rests on the person in whose name the deposit appears in various banks Dec 22, 2021 · 2021 marked another busy year for the world of tax disputes, and no doubt 2022 will be just as eventful. How is tax evasion done Tax evasion is a big problem in India because it means the government loses the money that was to be paid as tax. The notice served to the oral hygiene company relates to a TP assessment for the 2020/2021 financial year. This provides certain discretion on the part of the Income Tax. State (Govt. Director of Income Tax (E) in ITA No. This high-profile gangster was involved in various outlawed activities, including murder, prostitution, and bootlegging. Significance: Mar 13, 2023 · The provision relating to Residential Status in India is governed by Section 6 of Income Tax Act, 1961. R. Principal Commissioner of Income-Tax (“Reddy Case”), marking a significant turning point in the application of General AntiAvoidance Rules (“GAAR”) in India. Jan 26, 2024 · As I write this missive, we have entered the year 2024, which marks a new beginning for everyone. Over the years, the IT Department has conducted some of the biggest income tax raids in India to confiscate undisclosed cash, assets, and wealth. Get more updates on the latest tax cases and gain valuable insights to optimize your tax strategy in India. (Ahmedabad ITAT) 3. Through a network of transactions, the company cheated a banking consortium of nearly 28 banks that involved State Bank of Feb 17, 2021 · In the year 2020, we have reported 4361 judgements on various laws including Income-tax, Indirect Taxes and Corporate laws, etc. The Notification, issued by the Central Board of Indirect Taxes and Customs (CBIC), extended the timeline for passing orders under Section 73(10) of the Central Goods and Services Tax Act, 2017 (“CGST Act“) for financial years 2018-19 and 2019-20. Dec 29, 2022 · Accordingly, after 01 April, 2021, the Income Tax Act has to be read along with the substituted provisions. 2024 Aug 4, 2022 · India News: NEW DELHI: The Enforcement Directorate (ED) over the last eight years has carried out 3,010 raids and attached proceeds of crime worth Rs 99,356 crore. Nov 28, 2008 · 9 In the financial year (April-March) 1973–74, tne highest rate of income tax on incomes beyond Rs 200,000 was 85 per cent. 2022 and Circular No. Nov 28, 2016 · IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH 'D', NEW DELHI Before Sh. M. The first tax on personal income was not levied until the Civil War. This Round-up analytically summarizes the major Apex Court Goods and Services Tax (GST) Judgments of 2023 reported at taxsc a n. Landmark cases are as follows - E. This case stands as the first substantial interpretation of GAAR Jan 5, 2019 · The list includes cases with rulings delivered on famous celebrities and politicians. Asstt. Mar 31, 2023 · Here are some of the recent and famous money laundering cases that made headlines in India: ABG Shipyard fraud case. Dec 2, 2022 · RELIANCE INDUSTRIES Vs. Vodafone case. The Supreme Court in the case of Maruti Suzuki India Ltd v CIT has held that MODVAT credit does not qualify as ‘any sum payable by the assessee by way of tax, duty, cess or fee’ u/s 43B of the Central Excise Act hence the unutilized credit under MODVAT scheme does not qualify Jan 5, 2022 · DCIT [2001] 117 Taxman 192 (Calcutta), the ITAT held that a capital receipt, in principle, is outside the scope of income chargeable to tax. Income tax officer [Amritsar-Trib] Feb 17, 2021 · We have reported 4,350+ judgments on various laws including Income-tax, GST and IBC. S. Union of India on 16 December, 1983 Apr 24, 2024 · The Honorable Bombay High Court in the case of Siemens India Ltd. 2016. Saktijit Dey, Judicial Member Dr. Union of India on 16 December, 1983 Jun 22, 2018 · This search was concluded on August 21, 2002. In a historic turn of events, Sardar Inder Singh, a highly influential Indian politician, faced the country's lengthiest income tax raids in 1981. Mar 17, 2025 · Your email and social media account can be accessed by income tax officers starting financial year 2026-27 in these cases. Pr. Jul 5, 2023 · The Supreme Court of India has been delivering judgments on various petitions and appeals related to Goods and Services Tax (GST). 1,29,880/- under section 271(1)(c) of the Income Tax Act, 1961 (the Act) and the reasons assigned for doing so are wrong and contrary to the facts and circumstances of the case, the provisions of Press Release, dt. Tax avoidance. Jan 2, 2025 · Serial Number Date of Judgment Cause Title/Case No. At 91 years old, Singh, a former MLA from Punjab and a Rajya Sabha MP, woke up to witness over 90 Income Tax officers stationed at his residence. even though purchase was made from the overseas income. 1 INTRODUCTION The main purpose of this unit is to discuss the verdict given by Supreme Court on various cases relating to Income Tax Act rules and regulations. 123/42/2019-GST dated 11. New Delhi Muncipal Council vs. I. after more than six year income tax issued notice assuming difference amount as income from other source and ordered to pay income tax with interest and penalty. V. Baglekar Akash Kumar who was a 19-year-old got a book online and when it was delivered, he noticed that there was no MRP printed on it. 40 years ago, a raid similar to this nature happened which took the country by surprise Apr 10, 2021 · The tax laws in India provide for taxation of corporate entities as a separate person; and specific income tax return forms for companies are prescribed under the law. Through Tax2win. Sep 23, 2021 · Case Law- Controversies related to Tax Avoidance. Some of the most common methods of tax avoidance in India include the use of tax deductions, exemptions, and credits, transfer pricing, and setting up shell companies. What the case is all about Commissioner of Income Tax ITA Nos 3772 and 3774/Mum/1996, 1588/Mum/1997 and 409 to 411/1999 INCOME TAX APPELLATE TRIBUNAL (MUMBAI ‘A’ BENCH) BANSAL JM AND PRAMOD KUMAR AM JUDGMENT DATE: 1 MARCH 2005 Double taxation conventions – India – Interpretation – Whether ‘property’ to be interpreted to include know-how – Whether May 9, 2022 · Landmark Judgment by Supreme Court on notices issued u/s 148 which is in Favour of both Assessee and Revenue. Section 9(1)(i) also states that in case the operations of a business are not present in India or only a part of their business is being done in India then only a small part Sep 13, 2024 · Discover 10 landmark judgements that transformed India’s legal landscape. Apr 25, 2019 · The concept of Slump Sale was introduced in the income tax law through section 2(42C) and section 50B in AY 2000-01 consequent to a ton of litigation and ambigu Go AD-Free with CAclubindia Pro and get a FREE CCI Coffee Mug. concerned was an N. 2022 on the sole ground that the petitioner had not produced relevant documents in this Dec 28, 2021 · The recent income tax raid in Kanpur on businessman Piyush Jain isn't the first one case in Kanpur. All government hospitals, medical institutes should beasked to provide the immediate medical aid to all the cases irrespective of the fact whether they are medico-legal cases or otherwise. 10927/2024: Right of a senior citizen to claim back their transferred property under the Section 23 of the Maintenance and Welfare of the Parents and Senior Citizens Act, 2007 On the facts and in the circumstances of the case and in law, the learned Commissioner of Income Tax (Appeals) erred in confirming penalty of Rs. In this case, survey and inspection was carried out on the premises of the assessee u/s 133A of the Act. Feb 3, 2025 · He is the co-founder and CEO of Tax2win. till 2019and India's Longest Income Tax Raid. Shivkant Shukla, (Habeas Corpus Case) Air India v. The practice of certain government institutions to refuse even the Jun 15, 2021 · The taxpayer was a very high-income individual; he had over 160 information return forms,” Nellen said. Hon'ble Supreme Court of India quashed income tax notice in case of New Delhi Televisions Ltd (NDTV). Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Mehta v. Ltd. Sripal Reddy (2013) In this case, the court held that a genuine transaction cannot be disregarded on the ground of mere suspicion. Dec 30, 2022 · Section 45(4) of Income Tax Act applicable to cases of subsisting partners of a partnership transferring the assets in favour of a retiring partner. Government policies and interventions for development in various sectors and issues arising out of their design and implementation. Kuldeep singh v. tax was required to be withheld on a transfer of offshore assets between two non-residents. M/s Lite-on Mobile India Pvt. Jul 23, 2023 · can you send 2 cases verdict where government circle rate and purchase rate was different . 10. The lofty ideals of “Sulabh Nyaya and Satwar Dec 3, 2024 · The Supreme Court in Wipro’s case noted that “For claiming the benefit under Section 10B (8) of the Income Tax Act, the twin conditions of furnishing a declaration before the assessing officer and that too before the due date of filing the original return of income under Section 139(1) of the Income Tax are to be satisfied and both are The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail. 65/2020 [F. Indian tax laws prior to the Vodafone case. Milk Producers’ Union Ltd. 5: Genpact India Private Limited v. The Deputy Commissioner of Income-tax (Chennai ITAT) 4. In . Commissioner of Income Tax (2020) This case is a significant milestone in Indian tax law, especially regarding the doctrine of mutuality. Under the Indian Income-tax law (ITL), an appeal against an order of an Income-tax Appellate Tribunal (Tribunal), which is the second-level appellate forum in the hierarchy of appellate Jan 5, 2023 · Indirect Tax Supreme Court Small Tax Effect: Monetary Limit To Prefer An Appeal Before The Supreme Court Is Rs. A receipt cannot be taxed as income unless it is in the nature of a revenue receipt or is specifically brought within the ambit of income by way of specific provisions of the Income-tax Act. (Kar HC) 2. Union of India Income Tax Return eFiling - Login to File your Income Tax Returns ( ITR ) for FY 2023-24 (AY 2024-25) online with Tax2Win. Jun 8, 2020 · This story involves the famous case of investment by Walmart in Flipkart. P. The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail. Hence, in the present case if the tax assessment had been completed before 1962, then Income Tax Act, 1961 would not have been applicable. Section 50A of the Income Tax Act, 1961 Union of India [38] Struck down the 99th Amendment of the Constitution of India and the proposal of the National Judicial Appointments Commission. LTD vs PRINICIPAL COMMISSIONER FOR INCOME TAX (CENTRAL)-1 & ORS. On the same day, a survey under section 133A of the Income Tax Act, 1961, was also conducted on the premises of M/s. In most cases, a Tax lawyer in India Aug 31, 2024 · ADM Jabalpur v. Union of India Vodafone case (‘ ’) . vs. Mar 17, 2025 · Famous NFT Cases in India. 2019: Issue related to Section 115QA-Whether appellate remedy was available in the matter regarding determination of liability u/s 115QA? Income Tax Offices across India will remain operational on March 29, 30, and 31, 2025, even though these days are holidays. 2. Kesavananda Bharati V. 19. MC Mehta's persistent efforts through various PILs have made a significant impact on environmental jurisprudence in India. Ponnusamy and Ors About half of federal revenue comes from individual income taxes, while less than 10 percent comes from corporate income taxes. Admissions closing on 10 DEC'22 | Enrol now - https://bit. The case (No 838/DEL/2021) involved Olympus Medical Systems India, a subsidiary of medical equipment supplier Olympus. The Act specified that any income that arose or accrued in India, whether to a resident or a non-resident, would be subject to Indian tax. In India, tax avoidance is a common practice among individuals and businesses. Nov 25, 2022 · Tax law or revenue law is an area of legal study in which public or sanctioned authorities, such as federal, state and municipal governments use a body of rules and procedures to assess and collect taxes in a legal context. SC settled very interesting dispute in the said judgeme 4. May 21, 2021 · Notified income-tax authorities to facilitate conduct of faceless assessment proceedings under NeAC: 8: Notification No. File ITR for income from salary, business, capital gains, house property & utilize deductions under 80C, etc. Clear serves 1. Aug 6, 2024 · According to the provisions of the Income Tax Act of 1961, the Income Tax Department of India can conduct IT raids to curb instances of tax evasion and black money hoarding. A landmark case law on NFT is: Digital Collectibles Pte Ltd And Ors. He achieved this by utilising a tax benefit known as ‘depreciation’, which allows property investors deduct a portion of the cost of their buildings from their taxable income 11 Report of the Expert Committee on Retrospective Amendments made by the Finance Act, 2012 to Income- Tax Act, 1961. 1998 In re Special reference 1 [39] Reply by the Chief Justice of India to the questions raised by President of India K. Union of India (GUJARAT HIGH COURT) Appeal No. 2021 as no fresh tangible evidence was put on record by the Assessing Officer as compare to the evidences Several steps as below have been taken by Indian government to avoid tax evasion. Cairn Energy called the tax imposed illegitimate and initiated an international arbitration to challenge the retrospective taxation. It Sep 9, 2024 · This case focus on validity of income tax assessment made solely based totally on external customs reports, inclusive of those from the Directorate of Revenue Intelligence (DRI), without carrying out impartial investigations. This article is on Judgment dated 4 th May 2022, by Hon’ble Supreme Court of India in the case of Union of India Vs Ashish Agarwal (Supreme Court of India), vide Civil Appeal No. 8 million) TP order by India’s income tax authorities, according to a stock exchange filing made by the company. Nargesh Meerza (1981) AK Gopalan v. Income Tax Officer Income Tax Appellate Tribunal, Delhi Bench in the case of Anand Education Society vs. There wasn’t any case of much gravity before Vodafone pertaining to Tax dispute in India. 07. Commissioner of Income Tax, Pune. For a moment leaving aside my views on “Substance Vs. P. vs Galactus Funware Technology Pvt. Sep 26, 2024 · 3. In 1861, Congress and President Abraham Lincoln imposed a 3 percent tax on annual incomes over $800 to finance the Union war effort. Sachin Tendulkar, Shilpa Shetty, Shahrukh Khan, Chidambaram family who got favourable rulings while Priyanka Chopra, Rahul Gandhi and Sonia Gandhi got troublesome tax rulings during the year. The income of a company is classified under different heads of income such as profits earned from the business, capital gains, income from real property and income from other Oct 12, 2022 · In the quest of making huge benefits without efforts owners of small businesses adopt the established trademarks either exactly or in a modified way making it difficult to be differentiable. Necessity to determine residential status is significant to determine total income of taxpayers in India. Addl. Shortly thereafter, the Finance Act, 2012 introduced Explanation 5 to Section 9(1)(i) of the Income-tax Act, 1961 (“ITA”), “clarifying” that an offshore capital asset would be considered to have a situs in India if it substantially derived its value Dec 27, 2024 · The law has been tested and clarified through various landmark judgments. The "Vodafone" Case: One of the most famous tax avoidance cases in India involved Vodafone's acquisition of Hutchison Whampoa's telecom assets in India in 2007. Union of India [Writ Petition No. Namboodiripad v. M. He browsed the internet and saw that the book was sold at different prices at different places after which he went to the consumer forum and filed a case against Penguin Books India Pvt. Kanhaiya Prasad: 13/02/25: Vinod Kumar Vs. CIT vs. As a result, the builder was penalized heavily under Income Tax The corporate tax rate in India for domestic companies is 25% or 30% depending on turnover. Entitlement to benefit of Amnesty scheme under Section 128A of the CGST Act, post-reassessment - respondent No. Evidence was found during the search that the assessee had indulged in an understatement of his real income relating to the block period from 01. Bandhua Mukti Morcha vs. Apr 5, 2024 · In its 547-page judgment that declares privacy to be a fundamental right, the Supreme Court overruled verdicts given in the M. of NCT of Delhi) 13/02/25: K. Decision of the Supreme Court The Supreme Court of India upheld the landmark ruling in Vodafone International Holding (VIH) v. The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts. 2016-7) 13 The law of Income Tax by Kanga and Palkhivala – 8th Edition. In addition, 15 per cent surcharge on income tax was also to be paid. Out of these cases, we have identified top 20 rulings which may be relevant for future references and to decipher some aspects under GST. Taxmann Citation: [2019] 111 taxmann. Efiling Income Tax Returns(ITR) is made easy with Clear platform. The tax was being demanded as per Section 195 of the Income Tax Act, 1961. As such, the marginal rate of tax (income tax plus surcharge) in such cases was 97. 75 per cent. Facts of the case The appellant sought information regarding confidential reports submitted by lower formations to higher formations, which was denied by the respondent to the appellant. 5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India. SLP Against Income Tax Order: Supreme Court Issue Notice against Central Bank of India COMMISSIONER OF INCOME TAX 2 vs CENTRAL BANK OF INDIA CITATION: 2024 TAXSCAN (SC) 163 The Supreme Court of India has issued notice against the Central Bank of India regarding a Special Leave Petition (SLP) stemming from a final judgment by the High Court of Mar 10, 2023 · Here are a few landmark judgments by the Supreme Court of India in favor of Assessees in Income Tax cases 1. Dec 23, 2024 · The Indirect Tax Judgments of 2024 include several landmark rulings by the Supreme Court that clarified key issues in taxation. Al Capone’s tax case is one of the most famous cases the IRS has ever dealt with. 11. Judgment May 20, 2024 · Section 9 of the Income Tax Act, 1961 majorly deals with the implications of tax in case of any income that has been earned by a foreign entity or a non-resident in India. Though Devadhar was in Nagpur that day, he was ‘virtually’ present through a video Apr 1, 2020 · One of the infamous defence scandals in India, this case is about a 2010 deal signed between the UPA government and AgustaWestland for acquisition of 12 helicopters that were supposed to be used Jan 6, 2025 · In a recent case, the Bombay High Court has held that the the Goods and Service Tax (GST) department cannot issue tax demand against corporate debtor and set aside the demand order without relegating the Petitioner to avail of the alternate remedy given in the peculiar facts and the breach of natural justice. v. TOLA will continue to apply to the Income Tax Act after 01 April, 2021, if any action or proceeding specified under the substituted provisions of the Income Tax Act falls for completion between 20-03-2020 and 31-03-2021. 2018-19 and 2019-20 [ 2022 (7) TMI 1586 - ITAT MUMBAI Case 3: M/s. 43 crore by Cadbury India, Mumbai, has been adjudicated and a demand of Rs 11. 2002. Developing digital technologies, including AI and big data, generates new possibilities for improving tax services. No. Foreign companies with Permanent Establishments in India are taxed at 40% and incur a surcharge of 2% on income over INR 10 million and 5% on income over INR 100 million. The main issue in this case was whether the doctrine of mutuality applied to the assessed company, which was a wholly-owned subsidiary of Yum! Jun 2, 2024 · Case: Description: Outcome: Vodafone Tax Case (2012) Represented Vodafone in its landmark tax dispute with the Indian government. This judgment gives an overview of how the Income Tax Act (''Act'') is dynamic and subject to changes. Sh. This is generally Nov 28, 2024 · In June 2024, the Telangana High Court delivered a landmark judgement in the case of Ayodhya Rami Reddy Alla v. Here is a list of top Taxation Law firms in India Contents hide 1. Cisco Systems Capital (India) Pvt. State of Madras (1950) Amar Nath Sehgal v. Union of India (2005) Anuradha Bhasin v. Here, Plaintiff filed an application for an interim injunction against Defendant on the grounds of infringement of intellectual property concerning NFTs. The Income Tax Act, 1961, was the primary tax law governing India’s tax system. was a special case in the Oct 30, 2024 · It held that the TOLA will continue to apply to the Income Tax Act after April 01, 2021, if any action or proceeding specified under the substituted provisions of the Income Tax Act falls for completion between March 20, 2020, and March 31, 2021. Dec 21, 2024 · Court: Bombay High Court: Head Notes: S. In GST Act alone we have reported 1,250+ cases. Aug 8, 2020 · (ii) and (vi) in the facts of the present case. Then, Vodafone challenged the judgment in the Supreme Court, which in 2012 ruled that Vodafone Group’s interpretation of the Income Tax Act of 1961 was correct and that it did not have to pay any taxes for the stake purchase. Under the India - Mauritian treaty, these capital gains cannot be taxed in India. Jul 2, 2020 · Relevant Case Law – CIT v. ) Relevant Section – 28. The omission resulted in an accuracy-related The SC pronounced its ruling on 19 April 2023 in a batch of appeals involving several taxpayers, with SAP Labs India Private Ltd. purchase rate was 19 lac less than circle rate . Feb 6, 2012 · There were two judges who had been hearing the famous Vodafone tax case: D. 12, 000 Crores which raised the eyebrows of many business and legal circles in India. In Mineral Area Development Authority v. allegedly defrauded some Indian banks of Rs. Al Capone. Famous Contempt Of Court Cases In India. Deputy Commissioner of Income-tax, v. com 402 (SC) 22. Sep 26, 2020 · Vodafone challenged the demand notice in the Bombay High Court, which ruled in favour of the Income Tax Department. 2 crores: Supreme Court Case Title: CIT Versus Swapnil Finance Pvt. Latest Income Tax Judgements. In the Income-tax Act alone we have reported approx. A. The assessee company is a heavy engineering concern which is in the business of manufacturing boiler, machinery parts, wagons etc. Vodafone case, it was unani-mously held that the Indian income tax authorities cannot, under section 9 of the Indian Income Tax Act, 1961 impose income tax on indirect transfers of capital assets situated in India . 761/Del/2013 dated 15. AZB […] 1 day ago · Computation of capital gains in case of Market Linked Debenture: Clause 76 of the Income Tax Bill, 2025 vs. Issue: Income - expense = margin Oct 21, 2023 · As per Explanation 1(a), under clause (i) of Sub-Section (1) of Section 9 of the Income Tax Act 1961, what is reasonably attributable to the operations carried out in India alone can be taken to be the income deemed to accrue or arise in India. 10. K. Mar 20, 2021 · Discretion by the Income Tax Officer: As stated earlier, the tax assessment was completed in the year 1961. In a recent case, the Mumbai Tribunal dealt with the case of eligibility of set off or carry forward of long term capital loss under the provisions of the Income Tax Act, due to a sale of shares of an Indian company by a foreign company. NJRS Citation: 2019-LL-1122-6. Jariwala v. To get better Sep 16, 2023 · (i) Whether on the facts and circumstances of the case and in law, the Tribunal was justified in confirming any addition on transaction in derivatives on recognised stock exchange as defined under Section 43 (5)(d) of the Income Tax Act, 1961 with reference to explanation given to Section 73 of the Income Tax Act, 1961 which is applicable to Take notes as you read a judgment using our Virtual Legal Assistant and get email alerts whenever a new judgment matches your query (Query Alert Service). Out of these cases, we have shortlisted 25 cases which can be flagged as landmark rulings for future references and to decipher some aspects of the Income-tax Act, 1961. legal battle between the Indian Income Tax Department on the one side and Vodafone on the other for the astronomical figure in question: Rs. Association of Concerned Citizens of New Delhi and Others; The Supreme Court of India has struck down New Delhi Municipal Council ( NDMC ) (Determination of Annual Rent) Bye-laws, 2009. Indian government be like- Bhaisaab mera Tax kahan hai! Dec 2, 2024 · Yum! Restaurants (Marketing) Pvt. ) Ltd. India Ener-Gen Pvt. One of the primary reasons for tax avoidance in India is the high tax rates. Prosecution and Penalties are imposed under different acts by government. Nov 22, 2012 · The other case, related to service tax evasion of Rs 13. The appellant approach the CIC for seeking the information. The assessee contended that under sub-section (2) of section 67 of the Gujarat Co-operative Societies Act, 1962, at least one-fourth of the net profits of the society were required to be carried to the reserve fund every year, and hence there was a diversion at May 6, 2023 · Explore recent landmark judgements under the Goods and Services Tax (GST) law, covering key decisions on topics such as payment of tax in instalments, reverse charge, input tax credit, intermediary services, and more. In India, tax evasion is regarded as a crime. Subject Judgment Summary; 1: 02-01-2025: URMILA DIXIT vs SUNIL SHARAN DIXIT C. 1. This kind of exercise by such small businesses is trademark infringement and the standard that decides it is “likelihood of confusion”. Krishnamurthy Vs. 3005/2022 and various other appeals in similar matter filed before the Hon’ble Court. Through this write-up, let us analyze key income tax judgments from the income tax appellate tribunal, the high court, and the Supreme Court. M/s. CITATION: 2024 TAXSCAN (HC) 726 Oct 3, 2024 · A precedent-setting verdict by the Supreme Court on October 3 handed the Income Tax department a major victory in a landmark case that was essentially a tax war over old and news laws. Steel Authority of India, the Court held that royalty on mining is not a tax and affirmed states’ authority to levy taxes on mineral r Published by Dr. RS Nayak (1988) Aruna Ramchandra Shanbaug v. B. Sharma case in 1958 and the Kharak Singh case in 1961, both of which said that the right to privacy is not protected under the Indian constitution. 75 crore was confirmed along with a penalty of equal amount. Dec 8, 2021 · Now of course Income Tax authorities had to intervene as there was sale of India Assets. ly/upscbatch9A time-te CMV01010000: Section 1 - Short Title, Extent and Commencement - Section - Extension of Income Tax Act, 1961 to Continental Shelf of India and the Exclusive Economic Zone of India Aug 15, 2024 · Colgate-Palmolive’s Indian division was in July hit with a ₹2. Tax avoidance is the use of legal methods to minimize the amount of income tax owed by an individual or a business. A Gujarat-based company, ABG Shipyard Ltd. The legal validity of the contentious CGST Notification No. Feb 19, 2025 · This case led to the creation of the Ganga Action Plan, which aimed to reduce pollution and restore the ecological balance of the river. 183/15/2022-GST dated 27. Apr 23, 2014 · The same police formalities as given in para 1 above will be followed in these cases. Y. Commissioner of Income Tax v. Benefit of MFN clause available from the date when a country becomes a member of OECD; HC allows lower withholding tax on dividend. CHIEF COMMISSIONER OF INCOME TAX (2021) 133 taxmann. 12 Cairn Energy PLC and Cairn UK Holdings Limited v. Nani Palkhivala Textile Machinery Corporation Ltd. in. The plaintiff claimed that the Defendant's activities Sep 26, 2020 · ECONOMY/ GOVERNANCE/ INTERNATIONAL Topic: General Studies 3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development. V Assistant Commissioner of Income-tax, The Assessing Officer was not justified in reopening of the Re-assessment Proceedings u/s 148 as it stood prior to the Finance Act, 2021 w. During the investigation, they found that some cash transactions were not properly recorded in the builder’s financial records. Generally, taxpayers are classified as Residents or Non-Residents. Supreme Court ruled in favor of Vodafone, exempting it from the ₹11,000 crore tax demand. Commissioner of Income-tax and the Deputy Commissioner of Income-tax v. Try out our Premium Member Services-- Sign up today and get free trial for one month. Here follows a low-down on what the case was all about and how the ruling will impact a significant number of individuals and businesses. Starting April 1, 2026, the income tax department will have the authority to access social media, emails, and other digital spaces to curb tax evasion. Commissioner of Income Tax, Delhi. 01. Kamal Nath [40] 1996 Dec 23, 2023 · The Honourable Supreme Court of India has delivered many Goods and Services Tax (GST) regime-defining decisions in the year 2023. 22,842 crores. 56/2023 (“Notification“), is facing challenges across multiple High Courts in India. Some of the income tax latest case laws and latest income tax judgements in India delivered by the Indian judiciary of Tribunal in this year 2019 are compiled and curated by our team as follows. Jul 3, 2024 · Income Tax Addition made towards Unsubstantiated Share Capital is eligible for Deduction u/s 80-IC of Income Tax Act: Delhi HC VALLEY IRON & STEEL CO. 187/3/2020-ITA-I] / SO 2757(E) :- 13 August, 20: Notified income-tax authorities to facilitate conduct of faceless assessment proceedings under ReACs: 9 TLC Legal is a leading firm of attorneys in India, specialising in indirect taxation. India’s Income Tax Department – the tax authority – conducted a transfer pricing audit after the company reported financial losses between 2012 and 2013. e. 87A : Rebate of income-tax in case of certain individuals-New tax regime-Tax on income of individuals and Hindu undivided family- Rebate u/s 87A is substantive right which cannot be deprived by procedural changes such as changes in the utility software made by the department-The Court has directed the CBDT to extend the date of filing of return of On October 13, The New York Times also alleged that Jared Kushner, Trump’s son-in-law and senior advisor, paid little to no federal income tax between 2009 and 2016. Income tax reward scheme has been introduced by Income Tax Department which gives rewards to informers about tax evasion. okrxn devyc ctq teibav nqgi jdjru gtkij dyhfd hcrbqs dssoke mvzvqwz kqdun lmoym ijtyn wpem \