Category: Judgments
Proceeding against Company Director for FERA contravention. Necessary ingredients are similar to section 141 of Negotiable Instrument Act – SC ABCAUS Case Law Citation:ABCAUS 3343 (2020) (07) SC Important case law relied upon by the parties:S. M. S. Pharmaceuticals Ltd. Vs. Neeta Bhalla and another, (2005) 8 SCC …
High Court set aside rejection of application for revocation of GST registration cancellation order in view of Central Goods and Services Act (Removal of Difficulties Order), 2020 ABCAUS Case Law Citation:ABCAUS 3342 (2020) (07) HC In the instant case the appellant had filed the Writ Petition before the …
Assessee not permitted to change head of income as per his own sweet will and convenience. ITAT upheld addition following consistency rule ABCAUS Case Law Citation:ABCAUS 3341 (2020) (07) ITAT Important case law relied upon by the parties:Chennai Properties & Investments Ltd. v/s CIT, 373 ITR 673 (SC)Rayala …
Non compete fee paid under deed of covenant held not taxable. Revenue has no business to second guess commercial or business expediency – SC ABCAUS Case Law Citation:ABCAUS 3340 (2020) (07) SC Important case law relied upon by the parties:Guffic Chem (P) Ltd. v. CIT (2011) 4 SCC …
Project office used as auxiliary office for liaison not a PE unless core business is carried on therefrom – SC ABCAUS Case Law Citation:ABCAUS 3339 (2020) (07) SC Important case law relied upon by the parties:Commissioner of Income Tax and Another v. Hyundai Heavy Industries Co. Ltd., (2007) …
NFRA imposes penalty of Rs. 25 lakhs and debars CA for 7 years for professional misconduct in statutory audit of ILFS Financial Services Ltd ABCAUS Case Law Citation:ABCAUS 3338 (2020) (07) NFRA The National Financial Reporting Authority (NFRA / Authority) helds CA guilty of professional misconduct for performance …
Concealment Penalty cannot be levied on rejection of a bonafide claim. Even assessee with great expertise could make silly mistake ABCAUS Case Law Citation:ABCAUS 3337 (2020) (07) ITAT Important case law relied upon by the parties:Price Waterhouse Coopers (P) Ltd vs. CIT 348 ITR 306 SCCIT vs. Somany …
Services of web promotion, social media management held not liable to withholding tax u/s 195 as per the provisions of the DTAA ABCAUS Case Law Citation:ABCAUS 3335 (2020) (07) ITAT Important case law relied upon by the parties:ITO vs. B. A. Research India Pvt. Ltd.ITO vs. Cadila Health …
Interest on FDR pledged as security for obtaining contract is business income and profits to be computed by applying NP rate ABCAUS Case Law Citation:ABCAUS 3334 (2020) (07) ITAT In the instant case the appeal was filed by the assessee against the orders passed by CIT(A) in holding …
CPC-TDS established procedure for refund of excess TDS deposited ABCAUS Case Law Citation:ABCAUS 3333 (2020) (07) HC In the instant case, a writ petition had been filed seeking a direction to the Income Tax Department to remove technical glitches and enable the TRACES portal so that petitioner could …
