Category: High Courts
Profit from exchange rate fluctuation is independent of export earnings. Fluctuations from the EEFC account does not fall within the meaning of “derived from” the export. In a recent judgment, Allahabad High Court has denied deduction u/s 80HHC following Supreme Court that the profit from exchange rate fluctuation …
New facts surfaced during investigation and would not have become known but for investigation amounts to wilful suppression to evade tax – High Court In a recent judgment, Patna High Court has held that where facts surfaced during investigation were not earlier known to them and they would …
CBDT Circular fixing a time limit for making condonation application u/s 119(2)(b) of the Income Tax Act, 1961 (the Act) is illegal – Madras High Court In a recent judgment, Madras High Court condoned the delay in filing audit report Form 10-B observing that CBDT Circular fixing a …
No GST demand from son for the deceased father firm without showing that son was continuing the business in the name of his father’s proprietary concern. In a recent judgment, Hon’ble High Court of Jharkhand quashed GST order making demand from the son of the deceased father as …
High Court grants regular bail to the accused of availing and utilization of fraudulent Input Tax Credit. In a recent judgment, Hon’ble High Court granted regular bail to the accused of availing and utilization of fraudulent Input Tax Credit of Rs. 18.22 crores as the accused had already …
Failure of AO to draw inferences cannot mean that the petitioner had not disclosed all the material facts – High Court In a recent judgment, Hon’ble High Court has held that assessee’s duty is only to disclose primary facts and it is for the Assessing Officer (AO) to …
Interest for delayed payment of compensation under Land Acquisition Act is taxable as capital gain not interest u/s 56 and also eligible for exemption u/s 10(37) – High Court In a recent judgment Kerala High Court has held that interest amounts received by an assessee in respect of …
Non response to show-cause notice u/s 148A(b) would not make the otherwise invalid show-cause notice good – High Court In a recent judgment Patna High Court has held that incorrect information furnished in notice u/s 148(A)(b) which was not supported by any material vitiated the proceeding under section …
Vague references to “incriminating material” without disclosing basis or specification of the evidence rendered the jurisdiction transfer order u/s 127(2) unsustainable – High Court In a recent judgment, Calcutta High Court has held that vague references to “incriminating material” without disclosing basis or specification of the evidence rendered …
Fixing date of personal hearing prior to the date of filing of reply showed non application of mind – High Court In a recent judgment, Hon’ble Allahabad High Court quashed GST order u/s 73 of UPGST Act 2017 as the date of personal hearing was fixed prior to …
