Sec. 260A – Limitation Period – Where there was a delay of 1110 days in refiling of appeals, if substantial questions of law were of significance, HC ought to have condoned delay and considered appeals on merits.
DIT (International Tax) v. Western Union Financial Services Inc. – [2023] 153 taxmann.com 704 (SC).
Sec. 234A – Review petition dismissed against SC ruling that interest u/s 234A for default in furnishing return of income is statutory interest leviable and payable, and is mandatory and automatic.
Mansarovar Commercial (P.) Ltd. v. CIT – [2023] 153 taxmann.com 645 (SC).
Sec. 32 – SLP dismissed against order of the HC that Oil Wells constitute ‘Plant’ for the purpose of section 32 and same would be eligible for depreciation as plant & machinery.
CIT (International Taxation) v. Joshi Technologies International Inc., – [2023] 153 taxmann.com 711 (SC).
Sec. 69A – Unexplained Moneys – Share dealings – SLP dismissed against order of the HC that where AO disallowed exemption claimed u/s 10(38) and made additions, alleging involvement in penny stock which were being used for providing bogus accommodation of long term capital gains, however, there was lack of adverse comments from stock exchange and officials of company involved in these transactions and no material relating to assessee was found in investigation wing report, additions made by AO had rightly been deleted.
PCIT v. Renu Aggarwal – [2023] 153 taxmann.com 579 (SC).
CBDT gears up for Special Campaign 3.0 to dispose off pending matters.
Press Release dated 11-9-2023.
High Court reduces withholding tax rate from 16% to 8% on payments made to Amazon – US for purchase of web-services.
Amazon Web Services India (P.) Ltd. v. ITO – [2023] 154 taxmann.com 230 (Delhi).