Category: Judgments

Sale of shares can not be treated as business income merely on the basis of notes to Audited Accounts. Five broad tests emphasized by Courts ABCAUS Case Law Citation: ABCAUS 2197 (2018) (02) HC The Challenge/Grievance: The Revenue was aggrieved by the decision of the ITAT affirming the …

No doubt hopes of students have shattered-Delhi High Court dismisses writ against CA results expresses concern over circulation of maessages on whatsapp/facebook without any authenticity. ABCAUS Case Law Citation: ABCAUS 2196 (2018) (02) HC Important Case Laws Cited/relied upon by the parties: Sethi Auto Service Station and another …

Notice u/s 148 after four years by ACIT or DCIT requires sanction by CIT under the provisions of section 151(1) before amendment by Finance Act 2015  ABCAUS Case Law Citation: ABCAUS 2196 (2018) (02) HC Prelude: Before the substitution by the Finance Act, 2015, section 151(1) of the …

Order of seizure of goods in transit passed u/s 129(1) of  U.P. Goods and Service Tax Act, 2017 not appealable and therefore, a writ petition is maintainable against it subject to the limitations of judicial review – Allahabad High Court ABCAUS Case Law Citation: ABCAUS 2194 (2018) (02) …

Penalty u/s 272A(2)(c) imposed on a bank branch for delay in submitting information called u/s 133(6) deleted as bank branches are subject to various audit and always engaged in service of customers. ABCAUS Case Law Citation:ABCAUS 2193 (2018) (02) ITAT Important Case Laws Cited/relied upon by the parties:Hindustan …

No disallowance for mistake in Transporters declaration details filed u/s 194C with Income Tax Authorities. Deduction is allowable if all conditions were fulfilled – ITAT   Prelude: Section 194C contains the provisions for deduction of tax at source on payments made to contractors. Sub section (6) provides an exception …

Non-compete fee is capital receipt. Section 28(va) not apply to compensation received in relation to a profession before amendment-High Court uphelds ITAT order Prelude: Section 28 of the Income Tax Act, 1961 (the Act) list outs the types of income which are chargeable to income tax under the …

Ungarbled and garbled pepper not two different commercial products. The process of garbling to make pepper edible does not give rise to a different distinct commodity so as to be entitled for deduction u/s 10B  ABCAUS Case Law Citation: ABCAUS 2190 (2018) (02) HC The Issue: The issue …

Empanelment of Amicus Curiae at Supreme Court The amicus curiae figure originated in Roman law.  An amicus curiae (meaning “friend of the court“) is someone who is not a party to a case and is not solicited by a party, but who assists a court by offering information that bears on the case. The decision on whether to …

Cenvat Credit on goods transport agency service availed for transport of goods from place of removal to buyer’s premises not admissible-Supreme Court ABCAUS Case Law Citation: ABCAUS 2189 (2018) (02) SC The Issue: The main issue involved in the present case was with regard to the admissibility of …