Category: Judgments
Reassessment upheld for non disclosure of Interest income set off against interest on loans and advances when production was not commenced ABCAUS Case Law Citation: ABCAUS 2262 (2018) (03) HC The appellant Revenue was aggrieved by the order of the first appellate authority and the Income Tax Appellate …
Explanation can not be rejected applying prudent mans behaviour test. High Court deletes addition made for cash deposits applying Principle of preponderance of probability ABCAUS Case Law Citation: ABCAUS 2261 (2018) (03) HC The appellant assessee had challenged the order of the ITAT in confirming the addition under …
Supreme Court explains the doctrine of mutuality. Receipts of non-occupancy charges, transfer charges, common amenity fund charges received by cooperative societies, from its members exempt from tax ABCAUS Case Law Citation: ABCAUS 2260 (2018) (03) SC The question of law that arose for consideration of the Hon’ble Supreme …
After enactment of GST, administrative Charges on Molasses can not be levied under the provision of the U.P. Sheera Niyantran Adhiniyam 1964-Allahabad High Court stays the demand. ABCAUS Case Law Citation: ABCAUS 2259 (2018) (03) HC In a recent judgment the Allahabad High Court has stayed the Administrative …
Conviction u/s 278B of Income Tax Act against independent director set aside. Generally and vaguely stated allegations not sufficient to satisfy the basic requirements of law. ABCAUS Case Law Citation: ABCAUS 2258 (2018) (03) TC The Applicant had filed this criminal revision application before the Additional Sessions Judge …
Person convicted u/s 276B, unless minor, can not be released on probation of good conduct. Order of the Trial Court set aside by Special Judge of TIS Hazari Court ABCAUS Case Law Citation: ABCAUS 2257 (2018) (03) TC Section 276B of the Income Tax Act, 1961 (the Act) inter …
Assessee in default u/s 201 not absolved if the resident who receives the payment without TDS files a loss return. Proviso require actual payment of tax-High Court ABCAUS Case Law Citation: ABCAUS 2256 (2018) (03) HC The appellant assessee was aggrieved by the order treating the appellant as …
Cash redeposits claimed out of withdrawals unlikely if deposited in remote bank branches not near to the assessee’s office or residence. No person will go to a branch to deposit extra cash leaving another bank branch near to his office/residence-ITAT ABCAUS Case Law Citation: ABCAUS 2255 (2018) (03) …
ICAI jurisdiction in disciplinary proceedings is confined to Show-Cause Notice. It can not ask response on applicability of Income Tax Act, FEMA, Benami Act, Prevention of Money Laundering Act, etc. ABCAUS Case Law Citation: ABCAUS 2254 (2018) (03) HC The Serious Fraud Investigation Office (SFIO) lodged a complaint …
The Legislature cannot overturn a judgment by way of introducing an amendment to make the judgment wrong or a nullity-Supreme Court declares retrospective amendment as illegal ABCAUS Case Law Citation: ABCAUS 2253 (2018) (03) SC The Karnataka Money Lenders Act, 1961 (M.L. Act) regulates and control the transactions …