Important Updates Of Case Laws, Articles And Association News
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Case Laws
Madras Bar Association v. UOI (Supreme Court)
SUPREME COURT: Tribunals Reforms Act, 2021. Constitution of India- Eligibility criteria for appointment of Accountant/Technical Members of ITAT – Requirement of 25 years’ experience for Chartered Accountants struck down as arbitrary and unconstitutional [Art. 14]: Pursuant to a mentioning by counsel in W.P. (C) No. 626 of 2021, the Supreme Court directed insertion of additional paras after… Read More ...
SUPREME COURT: Indian Registration Act, 1908 S. 17 : Documents of which registration is compulsory - Assignment of decree for specific performance-Decree for specific performance does not create or transfer any right, title or interest in immovable property-Assignment of such decree is not an instrument falling under Section 17(1)(e)- Assignment deed was valid even without registration and… Read More ...
SUPREME COURT: Tribunals Reforms Act, 2021. Constitution of India – Tribunals – Independence of Judiciary – Constitutional validity of the Tribunals Reforms Act, 2021 – Legislative override of judicial directions – Doctrine of separation of powers- Validity of the Act is struck down -Tribunals being substitutes for High Courts in many fields, must meet the same constitutional… Read More ...
Income Tax appellate Tribunal A Bench Delhi: we are inclined to sustain the ground holding that the disallowance in regard to delayed deposits of employees contribution could not have been made by way of rectification proceedings u/s 154 of the Act. The ground is sustained. The appeal is allowed. Read More ...
Bombay High Court: S. 119 : Central Board of Direct Taxes- Circular-Condonation of delay -Filing of return of loss-Genuine hardship – Delay of 5 months in filing return due to bona fide professional advice by Chartered Accountant – Assessee should not suffer grave hardship for a professional’s mistake - Circular No. 9 of 2015 – Delay was condoned… Read More ...
Mumbai Tribunal : Bharatiya Sakshya Adhiniyam, 2023 S. 132 : Professional communications-Advocate-Client Privilege-Summoning of Advocates-Investigating Officer cannot directly summon a lawyer appearing for a party to elicit facts of the case-Privileged communication protected under S. 132 of the Bharatiya Sakshya Adhiniyam, 2023-Summons valid only if it falls within statutory exceptions and approved by a superior officer-No need for… Read More ...
Mumbai Tribunal : S. 147 : Reassessment-Information from third-party search-Accommodation entries-Cash credits -Section 153C not triggered, reopening u/s 147 is valid-On merits, addition based mainly on untested third-party statement without cross-examination requires fresh adjudication by CIT(A). [S. 68, 132(4), 133(6), 148, 151, 153C, ITAT Rule, 1963 ,R. 27] In a search on the Sushil Lahoti group, statements indicated… Read More ...
ITAT Indore: CBDT Instruction No. 3/2017 dated 21.02.2017—which directs that no verification is required for cash deposits up to ₹2.5 lakh by individual taxpayers—is binding on the department. The ITAT observed that such deposits can reasonably be explained as household savings or small business receipts and that additions contrary to the Instruction are unjustified. Read More ...
Delhi Tribunal : S. 115BAA : Tax on income of certain domestic companies – Determination of tax in certain cases- Option exercised under section 115BAA – Rate of tax applicable – Long term capital gains – Company opting for taxation under section 115BAA is liable to pay tax at 22% on total income including long-term capital gains and… Read More ...
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Editorial Board