Category : Recent Case Laws
The provisions of Section 142(2C) did not preclude the exercise of jurisdiction and authority by the assessing officer to extend time for the submission of the audit report directed under sub-section (2A), without an application by the assessee. We hold and declare that the amendment was intended to remove an ambiguity and is clarificatory in nature – Supreme Court
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/Supreme-Court.odt” comments=”true” SVG=”true”] To Download, Commissioner of Income-tax, New Delhi) vs Ram Kishan Dass Civil Appeal Nos. 3211 to 3230 of 2019...
It is an undisputed fact that during the year the assessee did not earn any exempt income. The Hon’ble High Court of Delhi in the case of CHEM Invest Pvt. Ltd. Vs. CIT (supra) has clearly held that if there is no exempt income no disallowance can be made.- ITAT Delhi
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/ITAT-Delhi-23.03_03-1.odt” comments=”true” SVG=”true”] To Download the complete order, 387 Del 2018...
It is irrelevant whether the assessee is a public sector undertaking. Unless specifically provided under law or intended by necessary implication under specific provisions of law, or held in binding judicial precedents; a public sector undertaking cannot legitimately claim a preferential treatment in determination of its tax liabilities.- ITAT Delhi
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/ITAT-Delhi-23.03_03.odt” comments=”true” SVG=”true”]...
Where the Ld. CIT(A) passed the order exparte due to non appearance by the assessee, the assessee is given one final opportunity of being heard and in case of adjournment, the CIT(A) can pass any order which e may deem fit under law. – ITAT Delhi
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI BEFORE SH. R.K PANDA, ACCOUNTANT MEMBER AND SH. KULDIP SINGH, JUDICIAL MEMBER ITANo.1757/Del/2019 AssessmentYear:2015-16...
Where the assessing officer made certain additions on the basis of the information provided by DGIT (Inv.) , Mumbai, the same holds valid- ITAT Mumbai
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/ITAT-Mumbai.odt” comments=”true” SVG=”true”] Since the information is provided by the DGIT(Inv) , Mumbai and the proceedings of escapement of income initiated on...
That the salary paid in the year of operation for the period before the commencement of the operation should not be disallowed- ITAT Delhi
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/ITAT-Delhi-2.odt” comments=”true” SVG=”true”] Since, the assessee is providing health care services before the commencement of its super speciality hospital “Medanta”, the salary...
“Reasons to Believe” in GST and what procedure followed during the search was illegal – High Court of Allahabad
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/Reason-to-belive-in-CGST.odt” comments=”true” SVG=”true”] To Download the order of High Court, WTAX(A)_619_2018...
When the assessee company stands dissolved as defunct company u/s 560(5) of the Companies Act, 1956 (section 248(2) of the Companies Act, 2013) that doesn’t mean that income tax proceedings and appeals become infructuous. – Supreme Court of India
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/Defunct-Company-1.odt” comments=”true” SVG=”true”] To download, High Court of Rajasthan at Jaipur- Gopal Shri Scrips Pvt Ltd. Supreme Court of India _ Gopal...
The Long duration post graduate programs offered by Indian Institute of Management, Bangalore will be exempt from GST under Si. no. 66 of the Notification No. 12/2017 CT(R) – AAR Karnataka
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/03/AAR-Karnataka.odt” comments=”true” SVG=”true”] To download order, The Karnataka Appellate Authority for Advance Ruling – IIMB The Authority on Advance Rulings – Karnataka – IIMB...
Merely because assessee company had filed all primary evidence, it could not be said that onus on assessee company to establish the credit worthiness of investor companies stood discharge. Assessing Officer was justified in passing assessment order making additions under section 68 for share capital/share premium received by assessee company – SC
Held: The Court/Authorities below did not even advert to the field enquiry conducted by the AO which revealed that in several cases the investor companies...
Analysis of the definition of “Basic Wage” and its exclusions and inclusions by the Supreme Court in its latest judgement – SC
“Basic Wage, would not ispo facto take within its ambit the salary breakup structure to hold it liable for provident fund deductions when it was...
The Counsel being out of town cannot be a valid ground for the purpose of adjournment in any case – Supreme Court
In the judgement by the Supreme Court, it was strictly held that the counsel being out of town is no valid ground for the purpose...
GST entry error in GST TRAN -1 deprieved company from claiming credit of approx Rs. 9.75 crs, the petitioner seeks direction to correct the bonafide error – HC Karnataka
The petitoner company, Pragati Automation Pvt Ltd., appears before the Karnataka High Court seeking direction to permit them to correct the errors which was crept...
Linking of Aadhaar with the PAN Card to file Income Tax Return is compulsory – SC
Linking of Aadhaar with the PAN Card to file Income Tax Return is compulsory...
The Reopening of assessment is an entirely independent and vastly different jurisdiction and cannot be confused with the revisional powers of the higher authority – Bombay High Court
The Bombay High Court in its recent judgement in the case of Saurabh Suryakant Mehta WRIT PETITION NO.3495 OF 2018 stated that “the reopening of assessment...
The assessee can be taxed only on the gain which is oozing out from the sale consideration, thus, no adverse inference can be drawn while invoking the provision of section 50C of the Act. – Bombay High Court
Held : “The assessee can be taxed only on the gain which is oozing out from the sale consideration, thus, no adverse inference can be...
In terms of section 194A(1), The time of deduction of tax u/s 194A(1) is undisputedly time at which interest is to be credited to account of payee or when it is paid in cash/cheque or draft therefore, deduction of tax at source on interest income before close of financial year concerned as provided under section 194A(4) would not obligate assessee bank from penalty for not deducting tax at source at time of credit of said income in payee’s account – HC Allahabad
Held : Deduction of tax at source on interest income before close of the financial year concerned as provided under Section 194 A (4) of...
HC wrong in taking the technical view of dismissing the appeal on the ground of delay when it has to decide the question of law between the parties in any case in respect of earlier assessment year – Supreme Court
Held : The High Court should not have taken such a technical view of dismissing the appeal in the instant case on the ground of delay,...
The exemption of Rs. 50 lakh in s. 194-IA(2) is applicable w.r.t. the amount related to each transferee and not with reference to the amount as per sale deed. Each transferee is a separate income tax entity and the law has to be applied with reference to each transferee as an individual transferee / person – ITAT Delhi
ITAT Delhi in the judgement of Vinod Soni Vs. ITO TDS Faridabad in ITA No. 2736/Del/2015 held the following: Section 194-IA(2) provides that Section 194-IA(1)...
No seizure of goods on ground that they were not accompanied with part-B of e-way bill – HC Kerala
The High Court of Kerala in its judgement has held that where the assessee has defaulted in not uploading Part B to the eway bill...
GST Concept & Status as on 01.12.2018 – CBIC
CBIC has released GST its concept and status as on 01.12.2018 recently. To download, GST concept & Status as on 01.12.2018...
No capital gain to be computed on the transfer of assets on the ‘book value’ in the case of conversion of company into LLP – ITAT Mumbai
Held: In the recent judgement by ITAT Mumbai in the Case of M/s Celerity Power LLP wherein it was held that the on the conversion of the company...
An order passed by the Tribunal even one day after the prescribed period of 90 days from the date of hearing causes prejudice to the assessee and is liable to be recalled – ITAT Mumbai
To Download, Shri Kaushik N. Tanna ITA no. 5439 of Mumbai...
HC issues directions to the Department of Revenue to penalise the defaulters for not issuing Form 16 to their employees – HC Bombay
The Bombay High Court in its judgement took serious concern over the defaulter employers who does not any concern for issuing Form 16 where the...
No penalty to be levied u/s 271(1)(c) where the additions made by the AO is deleted – ITAT Delhi
Held: The Hon’ble ITAT Delhi in its judgement held that “Since the Tribunal has deleted the addition made by the Assessing Officer and sustained by the...