Income tax case laws

Maximum Refund Guaranteed. INCOME TAX : Assessee-Company has floated various schemes which require. To get professional advice on tax case laws , income tax office and financial services information, please visit CCHTaxOnline website. Case Law Prior to the Sixteenth Amendment Article I, Section of the U. Application for stay of demand to be allowed if assessee already deposited of tax demand raised in assessment. HC deleted additions as no incriminating material was found to prove that assessee had unexplained investments.

ACIT (e-Verification), Delhi authorised for the purpose of issue of scrutiny notice. Com Law and Practice: A Digital eBook. ITAT ORDERS is the best online platform for research on income tax case laws , income tax judgments and tribuna l, income tax filing services. Alaska Chiropractic Society, et al v. United States: Decision regarding the excise tax on wagering for games conducted by permittees, not operators.

Get a Jumpstart On Your Taxes! File Taxes From Your Home. Industry-Specific Deductions. Get Every Dollar You Deserve. Cases and circumstances in which a payment or aggregate of payments exceeding twenty thousand rupees may be made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft.

More information of case laws are visible to the Subscriber of a package i. First income tax law. Knowing the basic principles of taxation and the associated tax cases, is a prerequisite for effective tax planning. The facts of a case usually tell a human story and it is something. Tax Management India. Charles Pollock contested that the tax was unconstitutional under Article Section 9. As such, the Supreme Court granted certiorari to hear this issue in Pollock v. Advance Search: SEARCH ALL WORDS Kindly Use only space to separate the words.

This section is about expenses pertaining to earning of exempt income. In a case dubbed by federal prosecutors as “the biggest criminal tax fraud in history,” former attorney Daugardas received a year prison sentence for helping clients evade taxes. He was convicted of creating a fraudulent tax shelter that would create fake loss to reduce the tax bills of the extremely wealthy. The ITA asks a series of questions and immediately provides on a variety of tax law topics.

Business or professional income Calculate business or professional income , get industry codes, and report various income types. Relevant Case Law – CIT v. CASE LAWS (INCOME-TAX) 1) What is the nature of liquidated damages received by a company from the supplier of plant for failure to supply machinery to the company within the stipulated time – a capital receipt or a revenue receipt? For example, the taxes you pay on damages from your case may be higher than the taxes you would have paid on money from employment. There is an ongoing effort to change the laws in this area.

The Assessing Officer may, notwithstanding anything contained in this Act other than the provisions of section 271AAB, direct that, in a case where the income determined includes any income referred to in section 6 section 6 section 69A, section 69B, section 69C or section 69D for any previous year, the assessee shall pay by way of penalty, in addition to tax payable under.