Category: Judgments
Since part amount of the auctioned property was received by bank after start of CIRP, and order of moratorium, the sale could not be said to have completed – SC ABCAUS Case Law Citation ABCAUS 3592 (2022) (05) SC Important case law relied referred:Vidhyadhar vs. Manikrao and Another …
Invoking Revisionary powers u/s 263 merely on the basis of suspicion not justified. Where AO made necessary inquiry and satisfied itself about explanation offered, revising such order is unjustified – ITAT ABCAUS Case Law CitationABCAUS 3591 (2022) (05) ITAT Important case law relied referred:CIT vs. Anil Kumar Sharma …
Disallowance u/s 36(1)(va) for delayed EPF deposit. Amendment by Finance Act is prospective – ITAT ABCAUS Case Law Citation ABCAUS 3590 (2022) (05) ITAT Important case law relied referred:Azamgarh Steel & Power vs. CPCCIT vs. AIMIL Ltd. 188 Taxman 265 (Delhi)Vedvan Consultants Pvt. Ltd. vs DCITPCIT vs Pro …
Supreme Court explains law of conviction u/s 138 of NI Act on authorised signatories of firm/companies. civil liability vs Vicarious liability ABCAUS Case Law Citation ABCAUS 3589 (2022) (05) SC Important case law relied referred:Monaben Ketanbhai Shah and Another vs. State of Gujaratand Others (2004) 7 SCC 15Aneeta …
Amendment by Finance Act 2021 for disallowance u/s 36(1)(va) read with u/s 43B retrospective or prospective is debatable & controversial – ITAT ABCAUS Case Law CitationABCAUS 3588 (2022) (03) ITAT Important case law relied referred:CIT vs. Hindustan Electro Graphites Ltd. 243 ITR 0048 (SC)Modern Fibotex India Ltd. & …
Only AO holding charge over an assessee for assessment purposes could issue reassessment notice u/s 148 – ITAT ABCAUS Case Law Citation ABCAUS 3587 (2022) (03) ITAT Important case law relied referred:Lt. Col. Paramjeet Singh vs. CIT (1996) 220 ITR 446Attar Singh & Ors. In the instant case, …
Deduction of annual mixed used charge not allowable from house property income u/s 23(1) of the Income Tax Act 1961 – ITAT ABCAUS Case Law CitationABCAUS 3586 (2022) (03) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in upholding the disallowance …
Krishi Upaj Mandi Samiti liable to service tax on renting of immovable property prior to Negative List Regime. These activities are not their mandatory/statutory duty – SC ABCAUS Case Law Citation ABCAUS 3585 (2022) (02) SC In the instant case a Civil Appeal was filed by the Krishi …
Addition for cash deposit in bank set aside where AO accepted the turnover under presumptive taxation ABCAUS Case Law CitationABCAUS 3584 (2022) (02) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the addition on account of unexplained cash deposited …
Reassessment proceedings without sending Inspector to serve notice personally or by affixture where notice served by speed post was returned by Postal Authorities ABCAUS Case Law CitationABCAUS 3583 (2022) (02) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the …
