Category: High Courts
While considering the question of perversity of a finding of fact, the test applicable are strict-High Court ABCAUS Case Law Citation: ABCAUS 2181 (2018) (01) HC The appellant Revenue had filed the instant appeal challenging that findings recorded by the Income Tax Appellate Tribunal (ITAT) were perverse and …
High Court directs reopening of GST Portal for filing TRAN-1 of the Petitioner as the Portal did not respond on the last date resulting loss of ITC to the trader. The non response by the GST Common Portal on the last date for filing various online Forms due …
At the stage of admission, Settlement Commission not expected or be compelled to utilizing the machinery available to call records invoking Rule 9 or Section 245D(3). The petitioner should satisfy the Settlement Commission that there has been full and true disclosure ABCAUS Case Law Citation: ABCAUS 2178 (2018) …
CBDT Compounding of offences Guidelines not illegal or arbitrary. Principle of proportionality also not apply as fee is paid to avoid punishment for a criminal offence-High Court Chapter XXII of the Income Tax Act, 1961 (the Act) deals with Offences and Prosecution. Section 279(2) provides that any offence …
Mere categorisation of land as agricultural in revenue records not suffice for capital gain exemption. Whether a land is agricultural or not is a question of fact – High Court Prelude: Section 2(14) of the Income Tax Act, 1961 (the Act) defines “capital assets”. It also provides for …
Provision for interest on overdue fixed deposits was ascertained liability as the assessee was able to identify it when it filed returns-High Court ABCAUS Case Law Citation: ABCAUS 2168 (2018) (01) HC Important Case Laws Cited/relied upon by the parties: Bharat Earth Movers Ltd. Vs CIT, (2000) 245 …
ITAT explains the law on exemption u/s 10(2A) for partners share of profit in the income of the firm. Revision order u/s 263 quashed as it failed to state what kind of enquiry AO failed to make. Prelude: Section 10 of the Income Tax Act, 1961 (the Act) …
Amendment to section 32(2) is not prospective. Unabsorbed depreciation can be carried forward beyond 8 years, prior to amendment-High Court Prelude: Section 32(2) of the Income Tax Act, 1961 (“the Act”) provides that where due to loss or inadequate profits in any year, full depreciation allowance could not …
Addition for accommodation entries merely based on statement of investors and without controverting the documents furnished invalid-High Court Prelude: The additions on account of accommodation entries have been a common feature in income tax proceedings which have attracted litigation. A typical modus operandi adopted by the receiver of the such …
Constitutional Validity of second proviso of section 5(1) of PMLA upheld. Failure to disclose “reasons to believe” would be the entire proceedings illegal-High Court Prelude: The offence of money-laundering is defined under Section 3 PMLA. The punishment is prescribed under Section 4 PMLA. The expression “proceeds of crime” …
