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...
Category : Recent Case Laws
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...
Reliance by the AO on statements of third parties without giving the assessee an opportunity of cross-examination is a gross failure of the principles of natural justice and renders the assessment order a nullity -ITAT Delhi
The additions made merely on the statement of the third party and without providing an opportunity of being heard and cross examine the basis of...
The period of holding of ESOP options clarified and to be considered as Long term irrespective of the date of vesting of the same – ITAT Bangalore
The ITAT Bangalore in the recent judgement clarifies the period of holding of the ESOP options in the case of Shri. N. R. Ravikrishnan Vs Assistant Commissioner...
Income-tax department can’t claim any priority in payment from liquidation estate under Insolvency and Bankruptcy Code – HC
The High Court of Andhra Pradesh & Telangana in the case of Leo Edibles & Fats Ltd held that “The Income-tax Department does not enjoy the...
Supply of pure food items from sweetshop-cum-restaurant treated as supply of service and taxable at the GST rate of 5% – AAR Uttarakhand
ORDER : The Supply of pure food items in the restaurant shall be treated as supply of service and sweet shop shall be treated as...
Where no return was filed in compliance to notice u/s 148, issuing of notice u/s 143(2) was not required for making assessment – HC
The High Court of Jammu & Kashmir in the recent judgement in the case of Principal Commissioner of Income-tax v.Broadway Shoe Co. held that where no return was filed...
CAs can be held guilty of Other Misconduct even outside the ambit of the profession- SC
In the recent judgement by the Supreme Court in the case of Shri Gurvinder Singh, it has been stated that the Chartered Accountant is guilty of a...
GSTR 3 can be filed manually to claim Transitional credit – Delhi High Court
To download the complete copy of order, click here Order dated 16.10.2018 -Indusind Media_1 (3 files merged)...
Linking of Aadhaar with Bank accounts and mobile number is invalid – SC
The Supreme Court of India has provided a judgement regarding the validity of the Aadhaar and its linking with various other things. The crux of...
Deduction u/s 54 is allowed even if the assessee purchased new residential house before the sale of another residential house owned by him – ITAT Mumbai
Held: The Mumbai Tribunal in a recent decided case law has held that where the assessee has purchased the new residential house before the sale...
SLP admitted against the ruling that interest earned on funds deposited prior to commencement of business – SC
The Supreme Court has granted SLP against the High Court ruling that interest received on funds deposited with the banks borrowed for specific purpose of...
GST is attracted on the services of employees of Corporate Office to Branch Office : AAR Karnataka
Ruling : The activities performed by the employees at the corporate office in the course of or in relation to employment such as accounting, other...
Excise & Customs : Exemption notifications should be interpreted strictly, assessee cannot take benefit of ambiguity in exemption notification – SC
The Constitution Bench of Supreme Court of India in Commissioner of Customs vs Dilip Kumar & Company [Civil Appeal No. 3327 of 2007] on July 30,...
Submission of evidence during seizure isn’t necessary; can be done in assessment proceeding as well: HC
The High Court of Bombay, in a recent judgement held the following in a case of block assessment, ” Where in course of block assessment, assessee...