Change in Constitution of Bombay High Court’s Tax Bench w.e.f. 01.04.2012
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Category: Supreme Court/High Court related
Bombay High Court Affirms Special Bench Law On Brokers’ Bad Debts
In DCIT vs. Shreyas S. Morakhia 40 SOT 432 the ITAT Mumbai Special Bench held that a broker was eligible to claim a deduction of the entire amount due to him from his client as a “bad debt” even though only the brokerage (and not the entire amount) had been offered as income. This judgement has been affirmed by the Bombay High Court today, 28.02.2012
Change in Constitution of Bombay High Court’s Tax Bench w.e.f. 30.01.2012
Change in Constitution of Bombay High Court’s Tax Bench w.e.f. 30.01.2012
Appointment of 5 Hon’ble Judges to the Bombay High Court
Appointment of 5 Hon’ble Judges to the Bombay High Court
ITAT Held To Be One Of “The 50 biggest influences in tax”
What came as a pleasant surprise was the compliment paid by the prestigious journal that the ITAT “stands as a major influence in the approach to the practice, with tax payers all over the world using the numerous decisions as bench marks for their own documentation and transfer pricing strategy“
Hon’ble President, ITAT, appointed Judge, Delhi High Court
editor
Posted in All Information, ITAT related, Supreme Court/High Court related, Transfers/apptts
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A Full Court Farewell function to honour the elevation of Hon’ble Shri. R. V. Easwar, President, Income Tax Appellate Tribunal, as Judge of the Delhi High Court was held today, 14.10.2011
Review/Recall Petition To Be Filed Even If Tax Effect Less Than Rs. 4 Lakhs: CBDT
Another confusion in the field relating to this matter is whether or not review petition is to be filed in those cases where tax effect is less than Rs 4 lacs. It was suggested by this Directorate letter No Addl DIT(L&R)-I/SLP/2011-12/4502 dtd 01/09/11 addressed to all CCsIT / DGsIT at Delhi that proposal to file SLP was not to be sent in such cases. In this regard it is clarified that as per letter dtd 24/08/11 the Board’s decision only not to file SLP due to smallness of tax effect was conveyed. However since appeal to High Court was filed as per the relevant Instruction applicable at the time of filing, review / recall petition in such cases is also to be filed where tax effect is less than Rs 4 lacs, if filing appeal to High Court was permissible as per Instruction applicable at the time of filing
Circular On Monetary Limits For Filing Appeals Applicable Prospectively: CBDT
On this issue SLP was filed in Supreme Court and one case namely Surya Herbal came up for hearing before the Hon’ble Supreme Court on 29/08/11. The order passed by the Hon’ble court in that case in SLP(C) CC No 13694 of 2011 is enclosed herewith. The Supreme Court has directed that review petition be filed in High Court within two weeks. In such cases the attention of the High Court may be drawn to the observations of Supreme Court with a prayer not to apply the Instruction No 3/2011 ipso facto in respect of appeals filed prior to 09/02/11
Sr. Advocates Cannot Charge High Fees: Bombay High Court Petition
Sr. Advocates Cannot Charge High Fees: Bombay High Court Petition
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