Category: Judgments
Penalty u/s 271D when claim of cash imprest was sham and facile. The cash was itilised for making fixed deposits in the name of the assessee. High Court remanded case to ITAT The instant appeal was preferred by the Revenue against the order passed by the Income Tax …
Limitation for reassessment u/s 150(1) has to be counted on the date of assessment order passed by the AO assessing the income in the wrong hands – ITAT This appeal by the assessee was directed against the order of CIT (A) upholding the legality of the reassessment made …
Additions made on grounds other than reasons to believe recorded u/s 148-SC dismisses SLP of the assessee. Due to difference between Courts, High Court referred issue for Full Bench In the instant appeal, the assessee had challeneged legality of re-assessment proceedings on three counts. First, non furnishing of …
Person summoned by CCI for investigation and recording statement has right to be represented by an advocate subject to procedure to be laid down – High Court The present appeal had been filed by the Competition Commission of India (CCI/ Appellant) against the judgment of the High Court …
Partners capital not loan or deposit within the meaning of section 269SS – ITAT confirms deletion of penalty u/s 271D for capital contributed by partner in cash. The Revenue had filed this appeal against the order of the Commissioner of Income Tax (Appeals) whereby he deleted the penalty …
Invoking Section 56(2)(viib) to share premium received in limited scrutiny was not beyond the jurisdiction of the AO as the issue of share premium being correctly offered to tax was linked to the said section-HC ABCAUS Case Law CitationABCAUS 2348 ( 2018) 05 HC The Petitioner was a …
Uploading E-forms on MCA 21 Portal not experience in management for registration as Insolvency Professionals as required under IBBI (Insolvency Professionals) Regulations 2016 ABCAUS Case Law Citation ABCAUS 2347 (2018) 05 IBBI In terms of regulation 5(b) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, …
TDS credit on conflict of cash and accrual accounting. ITAT following High Court allowed proportionate TDS when TDS only was offered to tax The appellant assessee had filed the instant appeal contesting the order of the Commissioner of Income-Tax (Appeals) confirming inter alia the TDS credit restricted by …
Supreme Court declines to quash goods seizure order under UP GST Act when Assistant Commissioner had sufficient reasons to pass the order. ABCAUS Case Law Citation: ABCAUS 2345 (2018) (05) SC Vacation Bench of the Supreme Court has declined to interfere with the order passed by the Allahabad High …
Not referring objections of the assessee to DVO and passing order was clearly denial of principles of natural justice. ITAT deleted addition and remanded the case ABCAUS Case Law Citation: ABCAUS 2344 (2018) (05) ITAT The assessee was an individual. During the course of assessment proceedings, it was …