Category: Judgments
Cancellation of Registration of trust u/s 12AA and 80G for bogus donations was right. Entity misusing status conferred upon u/s 12AA not entitled to it – Supreme Court In the instant case, the Income Tax Department had challenged the order passed by the High Court setting aside the …
Data retrieved from Pen-drive and admission by vendors though may have a persuasive value no substantive evidentiary value to make additions. Data retrieved from digital device certificate u/s 65B(4) of Evidence Act must prove its authenticity. In the instant case, the assessee had cjhallenged the order passed by …
Supreme Court lays down guidelines for Compounding of Offences u/s 24 of SEBI Act by Securities Appellate Tribunal (SAT) and Trial Courts Important case law relied referred:JIK Industries Limited vs Amarlal v. Jumani ABCAUS Case Law CitationABCAUS 3535 (2021) (07) SC The appellant was a director and promoter …
Adjustment of amount paid under IDS 2016 on failure to pay third instalment – Supreme Court issues notice to CBDT ABCAUS Case Law CitationABCAUS 3534 (2021) (07) SC Important case law relied referred:Sangeeta Agarwal vs. Principal Commissioner of Income TaxShankarlal vs. Income Tax Officer & OrsPatchala Seethramaiah vs. …
Disallowance u/s 36(1)(va) for delayed deposit of employees contribution of EPF. Explanation-5 to section 43B not retrospective – ITAT ABCAUS Case Law CitationABCAUS 3532 (2021) (07) ITAT Important case law relied referred:CIT vs. Vijayshree Ltd.CIT vs. Alom Extrusion Ltd. In the instant case, the assessee had challenged the …
Supreme Court struck down Constitution 97th Amendment with respect to Cooperative Societies, upheld for multi State Cooperative Societies ABCAUS Case Law CitationABCAUS 3532 (2021) (07) SC Important case law relied referred:Hoechst Pharmaceuticals Ltd. v. State of Bihar, (1983) 3 SCR 130Daman Singh v. State of Punjab, (1985) 2 …
Ex parte best judgment assessment remanded as the assessee was a defunct company which ceased to function and therefore could not submit documents ABCAUS Case Law CitationABCAUS 3531 (2021) (07) ITAT In this case appeal was filed by the assessee against the order of the CIT(A) confirming addition …
Exemption u/s 54F allowed though Capital Gain sale proceed deposited in Nationalised Bank instead of capital gain deposit scheme account ABCAUS Case Law CitationABCAUS 3530 (2021) (07) ITAT In this case appeal was filed by the assessee against the order of the CIT(A) sustaining the addition made by …
Once an asset is part of block, depreciation can not be denied non-use. The concept of “use” of assets has to apply upon block as a whole instead of an individual asset. In the instant case, the assessee had challenged the order passed by the CIT(A) in inter …
Supreme Court declares requirement of minimum age of 50 years for appointment in Tribunals as void and inoperative ABCAUS Case Law CitationABCAUS 3528 (2021) (07) SC Important case law relied referred:Union of India vs. R. Gandhi, President Madras Bar AssociationMadras Bar Association vs. Union of India & Anr.Rojer …