Category: Judgments
Revised computation of deduction u/s 10A of the Income Tax Act, 1961 permissible having regard to Section 10A (5) and Section 80A(5) of the Act ABCAUS Case Law Citation: ABCAUS 2736 (2019) (01) HC Important Case Laws Cited/relied upon: Goetze (India) Ltd. Vs. Commissioner of Income Tax (2006) …
Acceptance of loans by passing journal entries in books of accounts not in violation of section 269SS hence no penalty u/s 271D imposable – SC dismisses SLP of ITD ABCAUS Case Law Citation: ABCAUS 2735 (2019) (01) SC Important Case Laws Cited/relied upon: Commissioner of Income Tax Vs. Triumph International Finance (I) Ltd. Premier Breweries Ltd. Vs. Commissioner of Income Tax, 372 ITR 180. Commissioner of Income Tax Vs. Noida Toll Bridge Co. Ltd. 262 ITR 260 Sunflower Builders Vs. Dy.CIT, 1997 (61) ITD (Pune) 227, Asst.CIT …
TCS on motor vehicle u/s 206C(1F) of the Income Tax Act not integral part of the value of the goods and services supplied – High Court admits Petition ABCAUS Case Law Citation:ABCAUS 2734 (2019) (01) HC Section 15 of the Goods and Services Tax Act speaks of the …
High Court struck down GST Circular proposing levy of GST on DISCOM for various other bundled services connected with the transmission and distribution of electricity. ABCAUS Case Law Citation: ABCAUS 2733 (2019) (01) HC The petitioner was public limited company (the petitioner company) and was engaged in the …
No Penalty u/s 271(1)(c) can be imposed by CIT without recording satisfaction in revision order 263. Provision of Section 271(1B) not applicable as CIT is not AO u/s 2(7) of Income Tax Act, 1961. ABCAUS Case Law Citation: ABCAUS 2732 (2019) (01) ITAT Important Case Laws Cited/relied upon: …
Validity of Penalty notice non striking off relevant limb u/s 271(1)(c) upheld when subsequent opportunity notices sent by AO were not challenged ABCAUS Case Law Citation: ABCAUS 2731 (2019) (01) ITAT The assessee had filed the instant appeal against the order passed by the CIT(A) upholding the penalty …
Service Tax Audit prima facie permissible post GST regime – Calcutta High Court. Authorities entitled to audit for the period when Finance Act 1994 was applicable ABCAUS Case Law Citation: ABCAUS 2730 (2019) (01) HC Important Case Laws Cited/relied upon: Infinity BNKE Infocity Pvt. Ltd. Versus Union of …
When ITAT inspected documents furnished in response to show-cause notice u/s 263 and found transactions not bogus, no interference was called. Supreme Court dismissed SLP of the Revenue ABCAUS Case Law Citation: ABCAUS 2729 (2019) (01) SC Important Case Laws Cited/relied upon: The Revenue had filed an Income …
Malba charges was rejected as cost of investment for claiming deduction u/s 54F as there was no occasion for purchasing malba – ITAT ABCAUS Case Law Citation: ABCAUS 2728 (2019) (01) ITAT The Assessee had challenged the order passed by the CIT(A) in confirming in confirming the action …
No penalty u/s 271D for cash loans taken to meet financial liabilities of a closed business as it constituted a reasonable cause under section 273B – ITAT ABCAUS Case Law Citation: ABCAUS 2727 (2019) (01) ITAT The Assessee hand challenged the order passed by the CIT(A) in confirming …