Famous income tax cases in india The "Vodafone" Case: One of the most famous tax avoidance cases in India involved Vodafone's acquisition of Hutchison Whampoa's telecom assets in India in 2007. 2021 as no fresh tangible evidence was put on record by the Assessing Officer as compare to the evidences Jan 11, 2020 · Black Money corporation decided to donate Rs. Income tax reward scheme has been introduced by Income Tax Department which gives rewards to informers about tax evasion. Judgment Dec 22, 2021 · As the year draws to an end, and in a reflective mood, we look back at the most notable cases over the last twelve months. Sachin Tendulkar, Shilpa Shetty, Shahrukh Khan, Chidambaram family who got favourable rulings while Priyanka Chopra, Rahul Gandhi and Sonia Gandhi got troublesome tax rulings during the year. In . CIT (2016) 236 Taxman 27 / 135 DTR 351 (AP &T)(HC) Section 276C(1) in The Income- Tax Act, 1995 Feb 3, 2025 · He is the co-founder and CEO of Tax2win. Cairn received a notice from India’s Income Tax department in 2014. In GST Act alone we have reported 1,250+ cases. 761/Del/2013 dated 15. CHIEF COMMISSIONER OF INCOME TAX (2021) 133 taxmann. Aug 4, 2022 · India News: NEW DELHI: The Enforcement Directorate (ED) over the last eight years has carried out 3,010 raids and attached proceeds of crime worth Rs 99,356 crore. The Indian revenue authorities considered that acquisition of stake in HEL by Vodafone was liable for tax deduction at source under Section 195 of the Income Tax Act, 1961. Benefit of MFN clause available from the date when a country becomes a member of OECD; HC allows lower withholding tax on dividend. How is tax evasion done Tax evasion is a big problem in India because it means the government loses the money that was to be paid as tax. Understand legal precedents and navigate tax law confidently. 10. 01. 43 crore by Cadbury India, Mumbai, has been adjudicated and a demand of Rs 11. Deputy Commissioner of Income Tax: 20/03/25: M/s. The assessee contended that under sub-section (2) of section 67 of the Gujarat Co-operative Societies Act, 1962, at least one-fourth of the net profits of the society were required to be carried to the reserve fund every year, and hence there was a diversion at Sep 23, 2021 · Case Law- Controversies related to Tax Avoidance. The legal validity of the contentious CGST Notification No. In India, tax avoidance is a common practice among individuals and businesses. A receipt cannot be taxed as income unless it is in the nature of a revenue receipt or is specifically brought within the ambit of income by way of specific provisions of the Income-tax Act. Get free contact details of the best Tax advocates near by. 14. Domestic corporations incur a surcharge of 10% on income over INR 10 million. concerned was an N. The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts. No. ). In the Income-tax Act alone we have reported approx. Tax avoidance is the use of legal methods to minimize the amount of income tax owed by an individual or a business. Income Tax Return eFiling - Login to File your Income Tax Returns ( ITR ) for FY 2023-24 (AY 2024-25) online with Tax2Win. R. The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail. Through Tax2win. V. Vs. Sep 26, 2020 · ECONOMY/ GOVERNANCE/ INTERNATIONAL Topic: General Studies 3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development. Subject Judgment Summary; 1: 02-01-2025: URMILA DIXIT vs SUNIL SHARAN DIXIT C. Generally, taxpayers are classified as Residents or Non-Residents. (Kar HC) 2. CASE 1. com 302 (Bombay) Petitioner was desirous of availing the benefit of DTVSV Act with respect to certain pending income tax litigations and filed an application under the DTVSV Act. B. of assessment of income of the transferor and transferee companies [In Re: Marshall Sons (1997) 88 Comp Cases 528 SCJ (Can future appointed date be fixed??) Effective Date: Date on which scheme is complete & effective, i. 19/03/25 Case 3: M/s. vs. Some of the income tax latest case laws and latest income tax judgements in India delivered by the Indian judiciary of Tribunal in this year 2019 are compiled and curated by our team as follows. It Dec 3, 2024 · The Supreme Court in Wipro’s case noted that “For claiming the benefit under Section 10B (8) of the Income Tax Act, the twin conditions of furnishing a declaration before the assessing officer and that too before the due date of filing the original return of income under Section 139(1) of the Income Tax are to be satisfied and both are Aug 6, 2024 · According to the provisions of the Income Tax Act of 1961, the Income Tax Department of India can conduct IT raids to curb instances of tax evasion and black money hoarding. P. Supreme Court ruled in favor of Vodafone, exempting it from the ₹11,000 crore tax demand. Al Capone. 07. NJRS Citation: 2019-LL-1122-6. Income Tax Appellate Tribunal, Delhi Bench in the case of Anand Education Society vs. Snehasis Nanda: 20/03/25: Chandra Shekhar Singh Vs. CITATION: 2024 TAXSCAN (HC) 726 Feb 11, 2024 · Arora claimed the firm and its affiliates are liable to pay income tax at 40 per cent on profits attributed to their fixed place Permanent Establishment in India, as opposed to WSP India's 30 per cent. Levy of Central Excise duty on the amount of sales tax retained after availing benefit extended by the State Government for pre-payment of such sales tax which was collected by the appellant - Applicability of the judgment in the case of M/s Super Synotex (India) Ltd. The Income Tax Appellate Tribunal constituted in the year 1941 as an independent appellate forum to redress the grievances under the Income-tax Act is all set to celebrate its Platinum Jubilee Year on the 25th of this month. Efiling Income Tax Returns(ITR) is made easy with Clear platform. When political party receives such donations of Rs. in, Abhishek endeavors to revolutionize how individuals file their income tax returns, offering a seamless and user-friendly experience. 12, 000 Crores which raised the eyebrows of many business and legal circles in India. So, let’s see what was involved in the case and what argument was made by the investment fund involved in the case. Jul 23, 2023 · can you send 2 cases verdict where government circle rate and purchase rate was different . State of Jharkhand: 20/03/25: State of Uttar Pradesh Vs. Nov 28, 2016 · IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH 'D', NEW DELHI Before Sh. In addition, 15 per cent surcharge on income tax was also to be paid. in. Out of these cases, we have identified top 20 rulings which may be relevant for future references and to decipher some aspects under GST. The appellant approach the CIC for seeking the information. com 196 (SC)] Burden of Proof - The onus of proving the source of deposit primarily rests on the person in whose name the deposit appears in various banks May 23, 2023 · Constitution of India, 1950; Article 14, 15, 21 - Income Tax Act, 1961; Section 10(26AAA) Proviso - Proviso to Section 10(26AAA) inasmuch as it excludes from the provision of exemption a Sikkimese Feb 17, 2021 · In the year 2020, we have reported 4361 judgements on various laws including Income-tax, Indirect Taxes and Corporate laws, etc. 5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India. purchase rate was 19 lac less than circle rate . Aug 8, 2020 · (ii) and (vi) in the facts of the present case. Dec 17, 2021 · 1. 17 lacs as taxes. The Deputy Commissioner of Income-tax (Chennai ITAT) 4. Then, Vodafone challenged the judgment in the Supreme Court, which in 2012 ruled that Vodafone Group’s interpretation of the Income Tax Act of 1961 was correct and that it did not have to pay any taxes for the stake purchase. Kalluri Krishan Pushkar v. 25. The conflict arose because the said convention Oct 11, 2023 · In 2012, India’s retrospective tax amendment was introduced. TOLA will continue to apply to the Income Tax Act after 01 April, 2021, if any action or proceeding specified under the substituted provisions of the Income Tax Act falls for completion between 20-03-2020 and 31-03-2021. Some of the most common methods of tax avoidance in India include the use of tax deductions, exemptions, and credits, transfer pricing, and setting up shell companies. Sep 26, 2020 · Vodafone challenged the demand notice in the Bombay High Court, which ruled in favour of the Income Tax Department. Prosecution and Penalties are imposed under different acts by government. 1 INTRODUCTION The main purpose of this unit is to discuss the verdict given by Supreme Court on various cases relating to Income Tax Act rules and regulations. search all words: exact phrase-1: the pr commissioner of income tax 3 v. Taxation Laws are prescribed for the payment of various taxes including income tax, general tax, service tax, sales tax etc. Jul 2, 2020 · Relevant Case Law – CIT v. e. 6 days ago · Get more updates on the latest tax cases and gain valuable insights to optimize your tax strategy in India. after more than six year income tax issued notice assuming difference amount as income from other source and ordered to pay income tax with interest and penalty. This has been granted to them under the new income tax bill. 75 crore was confirmed along with a penalty of equal amount. India’s Income Tax Department – the tax authority – conducted a transfer pricing audit after the company reported financial losses between 2012 and 2013. Dec 22, 2020 · Maruti Suzuki India Ltd. M/s. V Assistant Commissioner of Income-tax, The Assessing Officer was not justified in reopening of the Re-assessment Proceedings u/s 148 as it stood prior to the Finance Act, 2021 w. Nov 22, 2012 · The other case, related to service tax evasion of Rs 13. Can the rental income from the unsold flats of a builder be treated as its business income merely because the assessee has, in its wealth tax return, claimed that the unsold flats were Jan 16, 2023 · 1) Held by the Hon’ble Gujarat High Court in the case of Ball Aerosol Packaging India (P. On the failure of payment by the VIHBV, a case was initiated against the company. In 1861, Congress and President Abraham Lincoln imposed a 3 percent tax on annual incomes over $800 to finance the Union war effort. Union of India (GUJARAT HIGH COURT) Appeal No. The court's ruling clarified the tax treatment on the income derived from Several steps as below have been taken by Indian government to avoid tax evasion. As such, the marginal rate of tax (income tax plus surcharge) in such cases was 97. This Round-up analytically summarizes the major Apex Court Goods and Services Tax (GST) Judgments of 2023 reported at taxsc a n. (Ahmedabad ITAT) 3. In this case, survey and inspection was carried out on the premises of the assessee u/s 133A of the Act. On October 13, The New York Times also alleged that Jared Kushner, Trump’s son-in-law and senior advisor, paid little to no federal income tax between 2009 and 2016. In case of not paying the tax due, a penalty is imposed which cannot exceed the due amount. of Income tax; and • understand the provisions of Income tax on the basis of the judgement given on such cases by the Supreme Court. even though purchase was made from the overseas income. Case Details: Concentrix Services Netherlands B. The assessee company is a heavy engineering concern which is in the business of manufacturing boiler, machinery parts, wagons etc. Nani Palkhivala Textile Machinery Corporation Ltd. Out of these cases, we have shortlisted 25 cases which can be flagged as landmark rulings for future references and to decipher some aspects of the Income-tax Act, 1961. 2016. Foreign companies with Permanent Establishments in India are taxed at 40% and incur a surcharge of 2% on income over INR 10 million and 5% on income over INR 100 million. ryn aiwwcb vevpa eabfiic rlltq wtjyc gii auly wqyfbc ohyu bjnteaga llgtq hwggt tzvzhk rmhjumc