In a significant ruling, the Apex Court, while upholding the view of the High Court held that the satisfaction note by the Assessing Officer(AO) clearly states that the documents so seized belonged to the other...
The High Court of Andhra Pradesh reiterated the order of the Apex court and said that deferring time barring under all statutes is applicable to all citizens, tribunals, and courts including quasi-judicial authorities, so no...
The High Court of Karnataka held that the companies and co-operative societies which are registered under the respective Acts can be said to be constituted under those Acts and the clubs or associations incorporated prior...
This article aims to reflect upon the Government’s decision to open liquor shops for the public amidst the third phase of the nationwide lockdown in light of Article 47 of the Indian Constitution. Article 47...
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) held that disallowance of deduction under section 80IB(10) of the Income Tax Act, 1961 in respect of interest income should be restricted to net interest and...
The High Court of Telangana held that penalty under the GST Acts cannot be levied on the ground of ‘wrong destination’ and any action of collecting penalty under threat of detention of the vehicle carrying goods...
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the intention of the assessee during letting out of the property is significant to determine whether such income is taxable as rental...
The Delhi High Court has recently denied relief to the assessee from the payment of the compulsory 20% deposit in the Bogus Cash Credit Case. The petitioner, Jindal ITF Ltd. filed a writ petition seeking...
The Supreme Court (SC) has issued a circular detailing the standard operating procedures (SOP) to ease the process of mentioning, e-filing, and video conferencing of hearings amid the lockdown due to COVID-19. The Supreme Court...
The High Court of Madras held that the attachment property purchased out of the proceeds of crime Section 3 of the Money Laundering Act is cannot be said to be manifestly arbitrary and it is...
The Delhi High Court held that the Income Tax Appellate Tribunal (ITAT) has correctly ruled that the amount transferred for the benefit of the customers does not constitute the part of assessee’s real profit and...
In a major relief to NDTV, the Supreme Court today rejected the plea of the income tax department to permit them to proceed with the re-assessment notices against the channel in connection with the money...
The Gujarat High Court has granted regular bail for wrongful availment of the Input Tax Credit(ITC) is beyond Rs.5 crores. The applicant is arrested on 21st January 2020 and almost 52 days are over and...
The Supreme Court of India has directed the Media, including print, electronic and social media, to maintain a strong sense of responsibility and ensure that unverified news capable of causing panic is not disseminated. The apex...
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Ahmedabad bench has recently held that the refund of service tax cannot be claimed once the same is barred by limitation under section 11B of the...
The Madras High Court has issued a notice on the plea of the Revenue Bar Association (RBA) challenging the Appellate Tribunals Rules, 2020 as the rules suffer from the same old defects. The Appellate Tribunals...
The Supreme Court of India urged the Reserve Bank of India (RBI) to develop a new performance of Cheque which includes the purpose of payment so as to avoid misuse of cheques. In the case...
The Chhattisgarh High Court has upheld the increased rates of development cess and environmental cess on land covered used for mining as per the amendment introduced to the Chattisgarh (Adhosanrachna Vikas Evam Paryavaran) Upkar Adhiniyam,...
The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that genuine omissions must be excluded from the levy of penalty under section 271 (1)(a) of the Income Tax Act, 1961. During the relevant assessment...
In a Relief to Price Waterhouse & Co ( PwC ), the Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has quashed the re-assessment and held that in order to reopen the assessment by the...
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