Category: Judgments
Information from Investigating Wing cannot be sole basis for forming belief that income escaped assessment – High Court In a recent judgment, Hon’ble Delhi High Court has held that information received from Investigating Wing cannot be the sole basis for forming a belief that income of the assessee …
Revision u/s 263 arising from tax auditors observation upheld as AO did not examine the matter In a recent judgment, ITAT Chennai has upheld revisionary proceedings u/s 263 which stemmed from observation of Tax Auditor that there was remission of trading liability u/s 41(1)(a) of the Act and …
Prosecution u/s 276B for delay in deposit of TDS quashed by High Court in the light of CBDT circulars In a recent judgment, Hon’ble Bombay High Court has quashed prosecution u/s 276B for delay in deposit of TDS in the light of CBDT Circular/Instructions stating that when TDS …
For imported goods, it is impossible to claim CENVAT credit and hence custom duty exemption can not be denied. Supreme Court dismissed SLPĀ In a recent order, Hon’ble Supreme Court has dismissed Special Leave Petition (SLP) of the Custom/Excise Department against the order of the CESTAT holding that …
High Court grants bail to ITC scam accused as GST liability was yet to be not determined. In a recent judgment, Hon’ble High Court of Punjab & Haryana granted bail to ITC scam accused as GST liability was yet to be determined and the assessee was not habitual …
Demanding bribe from directors of Corporate Debtor – IBBI absolves Insolvency Professional In a recent order, Disciplinary Committee of Insolvency and Bankruptcy Board of India (IBBI) on benefit of doubt, absolved an Insolvency Professional (IP) of the charges of demanding bribe from directors of the suspended board of …
Order u/s 263 was bad as CIT did not specify how he arrived at figure of excess depreciation allegedly claimed by the assessee In a recent order, Hon’ble Supreme Court has dismissed SLP against the order of the Hon’ble Bombay High Court upholding the ITAT that CIT did …
Limitation Period to pass revisionary order u/s 263 stood extended by TOLA 2020 In a recent judgment, Hon’ble Orissa High Court has upheld that limitation Period to pass revisionary order u/s 263 stood extended by TOLA 2020. Competence of the Legislature through Parliament to relax provisions in earlier …
Certificate of identity issued under Transgender Persons (Protection of Rights) Act, 2019 shall be a valid proof for PAN Card Application – Government tells Supreme Court In April 2018 CBDT had amended Form 49 and Form 49AA Application for PAN Card by adding option of selecting “Transgender” along …
Order passed u/s 148A(d) set aside as personal hearing was not given to submit objections In a recent judgment, Hon’ble Madras High Court has set aside the order passed u/s 148A(d) and notice u/s 148A for not providing opportunity of personal hearing to submit his objections to reopening. …