Direct Tax Weekly Round-Up: 14 To 20 July 2024
Mariya Paliwala
21 July 2024 6:41 AM GMT
Bombay High CourtJAO Cease To Have Jurisdiction To Issue Reassessment Notice Outside Faceless Assessment: Bombay High CourtCase Title: Royal Bitumen Private Limited, Mumbai Vs. Assistant Commissioner of Income-TaxThe Bombay High Court has held that the Jurisdictional Assessing Officer (JAO) would cease to have jurisdiction to issue any notice under Section 148A(b) and to take further...
Bombay High Court
Case Title: Royal Bitumen Private Limited, Mumbai Vs. Assistant Commissioner of Income-Tax
The Bombay High Court has held that the Jurisdictional Assessing Officer (JAO) would cease to have jurisdiction to issue any notice under Section 148A(b) and to take further actions under Section 148A(d) and Section 148 of the Act, outside the faceless assessment.
Investment Allowance Available On Exchange Rate Fluctuation: Bombay High Court
Case Title: M/s. Tolani Ltd. Versus DCIT
The Bombay High Court has held that investment allowance is available on exchange rate fluctuations.
Investment Allowance Available On Exchange Rate Fluctuation: Bombay High Court
Case Title: M/s. Tolani Ltd. Versus DCIT
The Bombay High Court has held that investment allowance is available on exchange rate fluctuations.
Section 148A(d) Order Passed Without Section 151 Sanction Is Illegal: Bombay High Court
Case Title: Umang Mahendra Shah Versus Union of India & Ors.
The Bombay High Court has held that if an order is passed under Section 148A(d) of the Income Tax Act in the absence of an appropriate sanction in terms of the provisions of Section 151 of the Income Tax Act, the order and the consequent notice under Section 148 would be required to be declared illegal.
JAO Not Empowered To Issue Section 148A(b) Notice Under Faceless Assessment: Bombay High Court
Case Title: Venus Jewel Versus ACIT
The Bombay High Court has held that it was not permissible for the Jurisdictional Assessing Officer (JAO) to issue a notice under Section 148A(b), as the same would amount to a breach of the provisions of Section 151A of the Income Tax Act.
Karnataka High Court
Reassessment Notice To Non-Existing Entity Is Not Legally Tenable: Karnataka High Court
Case Title: Informatica Business Solutions Private Limited Versus Acit
The Karnataka High Court has held that the reassessment notice to a non-existing entity is not legally tenable.
Kerala High Court
2024 LiveLaw (Ker) 445
Case Title: PCIT Versus Kunhitharuvai Memorial Charitable Trust
The Kerala High Court has held that the tax effect in the appeals filed by the income tax department pertaining to assessment years 2006–07, 2007–08, 2008–09, 2009–10, and 2010–11 is well below the monetary limit of Rs. 1 crore and is liable to be dismissed.
Assessment Order Downloaded From Common Portal Amounts To A Valid Service: Kerala High Court
2024 LiveLaw (Ker) 444
Case Title: Sunil Kumar K Versus The State Tax Officer-I, Kottarakkara
The Kerala High Court has held that the assessment order downloaded from the common portal amounts to a valid service.
Case Title: Unitac Energy Solutions (India) Pvt.Ltd. Versus The Assistant Commissioner Of Income Tax
The Kerala High Court has held that the disallowance operates against erring employer assessee when employees' contribution to EPF/ESI not made within the due date.
Case Title: The South Indian Bank Ltd Versus ACIT
The Kerala High Court has held that the South Indian Bank is entitled to the deduction envisaged under Section 36(1)(viii) of the Income Tax Act in respect of the long-term finance provided by it for the construction and purchase of houses in India for residential purposes.
