Reopening of assessment - The source of expenditure in question ...

Court Quashes Reassessment: Section 69C Inapplicable Due to Documented Cheque Payments for Purchases.

June 21, 2016

Case Laws Income Tax HC

Reopening of assessment - The source of expenditure in question was very much available since in the reasons recorded itself, the Assessing Officer points out that the purchases were made by making cheque payments. Section 69C of the Act therefore has no applicability - reassessment quashed - HC

View Source

← Previous Next →

Reopening of assessment - The source of expenditure in question ...

Court Quashes Reassessment: Section 69C Inapplicable Due to Documented Cheque Payments for Purchases.

June 21, 2016

Case Laws Income Tax HC

You may also like:

Dishonor of cheque case - Issuance of summons - Cheque furnished as security covered u/s 138 of NI Act or not? - Scope and limited jurisdiction of High Court u/s 482...

Dishonour of Cheque - security cheque or not - lease deed has been obtained by misrepresentation or not - rebuttal of presumption u/s 139 of the NI Act - The High Court...

In a case concerning dishonor of cheques u/s 138 of the Negotiable Instruments Act, the Court upheld the conviction and sentence. The accused admitted issuing cheques...

The case involves a petition to quash proceedings u/s 138 of the Negotiable Instruments Act due to failure to implead the company as an accused. The petitioner, a...

Dishonour of Cheque - territorial jurisdiction - Foreign instrument - Cheque not made payable in India; and, was not drawn on a bank in India - The court noted that the...

The Appellant sought payment of its pre-CIRP dues from the Respondent in a manner different from the approved resolution plan, which provided for payment of pre-CIRP...

Dishonor of Cheque - dues was against the company but the cheque was issued by the petitioner from his personal account - Legally enforceable debt or not, in personal...

Dishonour of Cheque - Funds Insufficient - Signatory of Cheques - vicarious liability of Directors - If the plea of petitioners is accepted that since they were not a...

The court dismissed the petitioner's appeal due to non-compliance with statutory requirements, specifically the failure to submit valid proof of payment of the mandatory...

In a case involving dishonor of a cheque, the prosecution successfully discharged its burden u/s 138 of the Negotiable Instruments Act. The sole respondent admitted to...

The High Court examined the validity of the summoning order and framing of notice u/s 138 of the Negotiable Instruments Act, 1881, in a dishonor of cheque case. It...

Dishonour of Cheque - the cheque has been dishonoured due to closure of the bank account, since the very cheque in question is materially altered and had been returned...

The circular clarifies the time of supply for GST payment on spectrum allocation services when telecom operators opt for deferred payments. The bidder is liable to pay...

Validity of Assessment / Demand Order - The High court found that the assessment order was flawed due to non-application of mind by the assessing officer. - The...

The appellants challenged the order of the Commissioner (Appeals) denying eligible interest on the refunded amount. The court held that interest accrued on the deposited...

Quick Updates: