Judgments Archives - Page 326 of 350

Work assigned to sub-contractors or payments made to them not part of total turnover us 6B of the Karnataka Sales Tax Act 1957 – Supreme Court

administrator September 5, 2016 Judgments, Sales Tax, Supreme Court

Work assigned to sub-contractors or payments made to them not part of total turnover us 6B of the Karnataka Sales Tax Act 1957 – Supreme Court ABCAUS Case Law Citation: 1009 2016 (09) SC Important Judgments Cited: State of Andhra Pradesh & Ors. v. Larsen & Toubro Limited …

There is no hard and fast rule of earning same net profit rate over different years

administrator September 4, 2016 Income Tax, ITAT, Judgments

There is no hard and fast rule of earning same net profit rate over different years. Additions made without any plausible reason or rejecting books of accounts bad – ITAT In a recent judgment, ITAT has held that there is no hard and fast rule of earning same …

Interest waiver-reduction u/s 220(2A) denial for threat by assessee not justified. Satisfaction must be arrived at as per prescribed 3 conditions-High Court

administrator September 2, 2016 High Courts, Income Tax, Judgments

Interest waiver-reduction u/s 220(2A) denial for threat by the assessee not justified. The satisfaction must be arrived at with reference to the prescribed three conditions -Kerala High Court. ABCAUS Case Law Citation: 1007 2016 (09) HC Brief Facts of the Case: The Petitioner assessee was aggrieved by the rejection by …

Arrest for non payment of service tax without show cause notice void. Powers u/s 91 without SCN u/s 73A of Finance Act void-Delhi High Court

administrator September 1, 2016 High Courts, Judgments, Service Tax

Arrest for non payment of service tax without show cause notice quashed. Powers exercised u/s 91 without SCN u/s 73A of the Finance Act 1994 was contrary to the law and in violation of constitutional and fundamental rights under Article 21 of the Constitution-Delhi High Court ABCAUS Case Law: 1006 …

Agreement in restraint of trade void u/s 27 Indian Contract Act 1872. A non-compete clause in the guise of confidentiality clause can not be enforced-Delhi HC

administrator August 30, 2016 Judgments

Agreement in restraint of trade void u/s 27 Indian Contract Act 1872. A non-compete clause in the guise of confidentiality clause can not be enforced-Delhi High Court ABCAUS Case Law Citation: 1005 2016 (08) HC Brief Facts of the Case: The Plaintiff was a private company engaged in …

Excise duty refund for trade-turnover discounts not allowable unless duty passed on to the ultimate consumer – Supreme Court

administrator August 29, 2016 Excise, Judgments, Supreme Court

Excise duty refund for trade-turnover discounts not allowable unless duty passed on to the ultimate consumer else it would result in unjust enrichment – Supreme Court ABCAUS Case Law Citation: 1004 2016 (08) SC Important Judgments cited: Mafatlal Industries Ltd. and Others Vs. Union of India And Ors., (1997) …

Form 26AS amounts not income if not credited in books of accounts of the assesssee. Mere issue of TDS certificate does not establish any income-ITAT

administrator August 28, 2016 Income Tax, ITAT, Judgments

Form 26AS amounts not income if not credited in books of accounts of the assesssee. It is a well settled law that the bank account is not books of account of the assessee. Mere issue of TDS certificate does not establish any income-ITAT. ABCAUS Case Law Citation: 1003 …

Higher GP rate adoption for mere fall in rate from preceding year. It cannot be a sole reason for choosing higher rate as per Assessing Officers convenience

administrator August 28, 2016 Income Tax, ITAT, Judgments

Higher GP rate adoption for mere fall in rate from preceding year. It cannot be a sole reason for choosing higher rate as per Assessing Officers convenience – ITAT ABCAUS Case Law Citation: 1002 2016 (08) ITAT Assessment Year: 2010-11 Date/Month of Judgment: July 2016 Brief Facts of the …

AO statutorily required to compute capital gain us 48 not 50C. Deduction us 54EC to be also not on deemed cost of consideration u/s 50C basis-ITAT

administrator August 27, 2016 Income Tax, ITAT, Judgments

AO statutorily required to compute capital gain us 48 not 50C. Deduction us 54EC also allowable on capital gain computed u/s 48 not on deemed cost of consideration u/s 50C-ITAT ABCAUS Case Law Citation: 1001 2016 (08) ITAT AY: 2009-10 Brief Facts of the Case: The appellant assessee …

Additions u/s 28(iv) not apply to benefits received in cash-money. ITAT quashed additions made alleging customers advances opening balances as bogus