Just a moment...

Top
Help
AI Credits Reduced 🎉

• AI Advanced Search
4 Credits3 Credits
• Drafter – Issue Extraction
25 Credits20 Credits
• Draft Generation / Issue
50 Credits25 Credits

Enjoy more AI usage with fewer credits! Get up to 50% more value from your AI Credits.

Try Now
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 Highlights - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Law:
---- All Laws----
  • ---- All Laws----
  • Income Tax
  • Direct Taxes
  • Benami Property
  • Central GST Laws
  • SGST - State GST Laws
  • Customs
  • FTP - Foreign Trade Policy
  • SEZ - Special Economic Zone
  • FEMA - Foreign Exchange Management
  • Companies Law
  • SEBI - Securities & Exchange Board of India
  • IBC - Insolvency and Bankruptcy
  • Law of Competition
  • PMLA - Money-Laundering
  • Indian Laws
  • Bill / Finance Bills
  • Wealth Tax
  • Service Tax
  • Central Excise
  • VAT / Sales Tax
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    Treaty rate limits dividend distribution tax on Swiss shareholder dividends; excess tax refund directed under applicable treaty
    MAT exclusion for SEZ income, section 14A cap and strict proof of SEZ deductions shaped liability outcomes.
    Consequential depreciation on non-compete fee upheld; TV serial production costs allowed, subscription revenue remanded for factual verification.
    Fresh allotment breaks link with earlier valuation date; disputed stamp duty value sent back for DVO review
    Royalty versus copyrighted article: software subscriptions were not taxable, while customer-specific professional services were treated as FTS/FIS.
    Prior period expense crystallisation, ESOP discount deduction, and demerger loss carry forward turned on evidence and strict statutory compliance.
    Rebate under the new tax regime extends to special-rate short-term capital gains tax when income stays below threshold
    Net winnings and updated return verification determine tax treatment of online gaming gains and duplicate disallowances.
    Recorded satisfaction and independent proof are required before cash-receipt penalties can be imposed for alleged cash receipts
    Franchise right depreciation on full actual cost, while cash-payment disallowance and service-expense claims were tested under tax rules
    Beneficial rebate under section 87A could not be denied on short-term capital gains absent express statutory exclusion.
    Completed search assessments need incriminating material; DIN defects in section 153D approval do not by themselves invalidate proceedings.
    Joint development agreement and capital gains: no immediate transfer where consideration was only a future share in constructed property.
    Burden of proof for exotic wildlife smuggling failed without corroborative evidence, so confiscation and penalty were set aside
    Essential character test: e-rickshaw parts without motor and battery could not be classified as CKD vehicles.
    Conscious involvement required for export-fraud penalties; suspicion and uncorroborated evidence cannot sustain broker liability alone.
    ELFA diagnostic kits treated as ELISA kits for exemption; misdeclaration, extended limitation and IGST penalties fail.
    Classification of replacement filter cartridges as dedicated parts of filtration machinery under tariff item 8421 99 00
    Interrogatories in oppression and mismanagement claims are allowed when tied to pleaded allegations and material facts.
    Bona fide purchaser rights in liquidation upheld, as registered pre-winding-up plot sales survived RBI objection and fraudulent preference challenge.
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

Highlights
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries

Highlights

Back

All Highlights

Showing Results for :
Reset Filters
No Records Found

Highlights

Back

All Highlights

whatsapp Join Channel
Showing Results for : Reset Filters

The assessment order was challenged on the grounds of validity...

Reassessment Overturned: Court Rules Against Improper Reopening Based on Old Dues and Ignored Evidence.

Contents
Summary
Note

Note

-

Bookmark

Print

Print

Income Tax September 17, 2024 Case Laws HC
The assessment order was challenged on the grounds of validity of reopening after four years, based on a change of opinion and borrowed satisfaction. The assessee contended that there were no purchase or sale transactions on the National Spot Exchange Limited (NSEL) during the relevant assessment year. The statutory auditor's report u/s 142A confirmed no stock pertaining to NSEL transactions. However, the Assessing Officer reopened the assessment solely based on outstanding dues payable by the assessee to NSEL from earlier years, without considering the available material and audit report. The High Court held that the reopening notice was issued without application of mind, amounting to a change of opinion and borrowed satisfaction, as the entire issue was scrutinized during the regular assessment. The assessee had made full and true disclosures, and the reasons recorded for reopening were without jurisdiction on the face of the material available on record. Consequently, the assessee's appeal was allowed.

Topics

Acts Income Tax