Home Highlights May 2022 Year 2022 This

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1. The High Court examined the jurisdiction of the Assessing Officer (AO) and the prescribed income-tax authority to issue notices u/s 143(2) of the Income Tax Act. It held...

2. Income-tax Officer (Intelligence) authority to issue notice u/s 133(6) - Jurisdiction of Income Tax Authorities u/s 120 - From the reliance on the notification dated...

3. Revision u/s 263 - Every loss of revenue as a consequence of an order of AO cannot be treated as prejudicial to the interests of the revenue, for example, when an...

4. Control of income-tax authorities - U/s 118 of IT ACT 1961 - Specifies the income-tax authority or authorities as subordinate to such other income-tax authority or...

5. Proper authority / Jurisdiction to launch Prosecution Proceedings - It is the contention of the Revenue that the Deputy Director of Income Tax is a senior officer and...

6. Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

7. The court held that Section 6(2)(b) of the Act treats the empowered officers under the SGST/UGST Act at the central level to be at par and does not prescribe for...

8. Smuggling - contraband item kept in safe custody by income tax officers - The statements of the Income Tax Officers find requisite support in the statements of the...

9. The provisions of the IBC 2016 would prevail over the Income Tax Act 1961. Income Tax authorities have limited jurisdiction to assess/determine the quantum of Income Tax...

10. The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

11. The assessee had been following the mercantile system of accounting, wherein book profits are taken for tax assessment, though credit or debit amounts may not be...

12. Liaison Office (LO)/Branch Office (BO) in India by Foreign Entities – Reporting to Income Tax Authorities. - Circular

13. Refund the amount adjusted in excess of 20% of the disputed demand - action of the respondents and the Revenue Authorities is violative of Article 265 of the...

14. Deduction claimed u/s 57 against income returned u/s 56 - manner of apportioning assessee's expenses to earning income u/s 56 disputed - Revenue authorities rejecting...

15. Exemption from turnover - inter-state sale or not - Form-F declaration - false document - consignment sales or not - AO rejected the claim on inter-state movement of...