Category: Judgments

Front running prohibited practice under SEBI Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market Regulations 2003-Supreme Court ABCAUS Case Law Citation: ABCAUS 2079 (2017) (09) SC The Substantial Question of Law framed/urged for determination: Whether ‘front running by non-intermediary’ is a prohibited practice under regulations …

GSTN system is not working upto the level and required to be corrected & updated to meet requirements – Rajasthan High Court GSTN system is not working upto the level and required to be corrected & updated The Jaipur Bench of Hon’ble Rajasthan high Court has observed that the GSTN system is not …

Live-tweeting of court proceedings is among suggestions invited by Delhi high Court NOTICE TO THE PUBLIC AT LARGE A Committee – “Media Reporting in Courts Balancing Free Press, Fair Trial and Integrity of Judicial Proceedings” was constituted by Hon’ble the Acting Chief Justice of the High Court of …

Show cause notice u/s 263 at old address was not full opportunity afforded to the assessee to controvert the grounds of revision as mandated by the Supreme Court   ABCAUS Case Law Citation: ABCAUS 2078 (2017) (09) HC The Substantial Question of Law framed/urged for determination: “(i) Did …

No Concealment penalty u/s 271(1)(c) for income surrendered during survey if income was disclosed in return which was filed within due date-Allahabad High Court   ABCAUS Case Law Citation: ABCAUS 2077 (2017) (09) HC The Substantial Question of Law framed/urged for determination: “(I) Whether the ITAT was justified …

Disproportionate increase in expenses in relation to turnover can not be reason in itself for making adhoc disallowance without cogent material – ITAT ABCAUS Case Law Citation: ABCAUS 2076 (2017) (09) ITAT Assessment Year :  2012-13 Brief Facts of the Case: The Petitioner assessee had claimed certain expenses. …

Income Tax Officer is bound to furnish reasons for re-opening u/s 147 which should already be on record, prior to issuance of notice u/s 148 of the Income Tax Act, 1961 – High Court   ABCAUS Case Law Citation: ABCAUS 2075 (2017) (09) HC The Challenge/Grievance: The petitioner …

ITAT has no jurisdiction to direct registration of Trust u/s 12AA without there being satisfaction recorded by the Registering Authority as contemplated by the Income Tax Act – High Court   ABCAUS Case Law Citation: ABCAUS 2074 (2017) (09) HC The Challenge/Grievance: The appeal was filed by the …

Exercise of sales tax revisional power after repeal of Act unsustainable-SC. If new Act manifests different intention General Clauses Act stands excluded.    ABCAUS Case Law Citation: ABCAUS 2073 (2017) (09) SC The Substantial Question of Law framed/urged for determination: A common question of law in the present …

Limitation u/s 153-Period between vacation of stay and receipt of order not covered. Only the period during which the assessment proceeding is stayed by an order is covered by the Explanation 1 to Section 153- High Court     ABCAUS Case Law Citation: ABCAUS 2072 (2017) (09) HC …