Tax
Kerala High Court Stays GST Recovery Proceedings Against Bar Council Of Kerala
The Kerala High Court stayed the proceedings initiated by the Additional Commissioner, Central Board of Indirect Tax and Customs for recovery of service tax, penalty and interest from the Bar Council of Kerala.Justice Dinesh Kumar Singh ordered that no coercive steps shall be taken against the Bar Council of Kerala. “As an interim measure, it is provided that till the next date of posting, no coercive steps would be taken in pursuance to Ext.P2 show cause notice and Ext.P6 assessment order” The...
ITAT Cases Quarterly Digest 2024
S. 54F Exemption Not Available On Property Predominantly Being Used For Religious Purposes: ITAT Case Title: Asstt. CIT Versus Iqbal Ali Khan The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has held that exemption under Section 54F of the Income Tax Act is not available on property predominantly being used for religious purposes. ITAT Deletes Addition Of Unexplained Investment In Stock Valuation Difference Case Title: Ethiraj Hotel Mart Versus DCIT The...
Allahabad High Court Monthly Tax Digest: March 2024
INDEX Gurdeep Singh vs. Nagar Ayukt Nagar Nigam Moti Jheel And Another 2024 LiveLaw (AB) 131 Qamar Ahmed Kazmi vs. State of U.P. 2024 LiveLaw (AB) 133 M/S Sanyo Koreatex Pvt. Ltd. vs. Deputy Commissioner Trade Tax And Another 2024 LiveLaw (AB) 134 M/S Riadi Steels Llp vs. State Of U.P. And 4 Others 2024 LiveLaw (AB) 135 M/S Jhansi Enterprises Nandanpura Jhansi vs. State Of U.P. And Others 2024 LiveLaw (AB) 136 M/S Genius Ortho Industries vs. Union Of India And Others...
Assessees Not Expected To Keep Open Dept's E-Portal Of All The Time To Track Actions Of Dept.: Punjab & Haryana High Court
The Punjab and Haryana High Court has held that the assessee is not expected to keep the e-portal of the department open all the time so as to have knowledge of what the department is supposed to be doing.The bench of Justice Sanjeev Prakash Sharma and Justice Sudeepti Sharma has observed that before any action is taken, a communication of the notice must be in terms of the provisions as enumerated hereinabove.The provisions do not mention communication being “presumed” by placing notice on the...
Biuret Content Test In Imported Urea To Match Technical Trade Urea Specifications, Kerala High Court Directs Testing In Faridabad Laboratories
The Kerala High Court directed that the referral laboratory, namely the Central Fertilizer Quality Control Unit, Faridabad, shall ensure that the analysis of the urea sample is done expeditiously and that the report thereof reaches the Kochi Customs Authority within a month from the date of receipt of the sample at the said laboratory.The bench of Justice A.K. Jayasankaran Nambiar and Justice Kauser Edappagath has observed that the respondents/department shall, jointly with the appellant, draw...
Delhi High Court Quashes Initiation Of Section 153C Assessment Proceedings Falling Beyond Maximum 10 Years Block Period
The Delhi High Court has quashed the initiation of assessment proceedings under Section 153C of the Income Tax Act, which was falling beyond the maximum 10-year block period.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has allowed the writ petitions placed in Lists I and II and pertaining to AYs' 2010-11, 2011-12, 2012-13, and 2013-14, all of which fall beyond the maximum 10-year block period. The bench observed that while a statute may denude an authority of the...
Affording Personal Hearing Is Mandatory In An Enquiry Under Section 148A(B) Of Income Tax Act: Kerala High Court
The Kerala High Court has held that affording a personal hearing to the assessee is mandatory in an inquiry under Section 148A(b) of the Income Tax Act.The bench of Justice A.K. Jayasankaran Nambiar and Justice Kauser Edappagath has relied on the decision of the division bench in the case of Income Tax Officer v. Asamannoor Service Co-operative Bank Limited, in which it was held that the express provisions of Section 148A of the Income Tax Act contemplate that the assessee should be granted an...
Retrospective Legislation Can't Affect Vested Rights Of Assessee: Bombay High Court
The Bombay High Court has held that retrospective legislation cannot affect the vested rights of the assessee.The bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that when the Department has extended the last date from February 1, 2021, to September 30, 2021, it can only extend the deadline but cannot introduce a new concept of eligibility as of February 1, 2021, which is not in the Income Tax Act itself. Though the Central Board of Direct Taxes (CBDT) relaxed the rigors of...
Leasehold Interest In Land Is An Asset Of Company And Is Capable Of Valuation: Jammu & Kashmir High Court
The Jammu & Kashmir High Court has held that leasehold interest in the land is an asset of the company and is capable of valuation.The bench of Justice Tashi Rabstan and Justice Puneet Gupta has upheld the order of the Tribunal in which it was held that leasehold interest is to be included in the value of assets of M/s. Jyoti Private Limited so as to determine the fair market value of shares held by the assessee as well as other shareholders.The assessee/respondent, his wife, and two sons...
Income Tax Addition Made Towards Unsubstantiated Share Capital Is Eligible For Section 80-IC Deduction: Delhi High Court
The Delhi High Court has held that income tax additions made towards unsubstantiated share capital are eligible for deduction under Section 80-IC of the Income Tax Act.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has refused to grant the reliefs as sought by the respondents-Department to set aside the Income Tax Settlement Commission's (ITSC) order insofar as it granted immunity from penalty and prosecution to the petitioner-assessee or, for that matter, its decision...
Wireline Logging And Perforation For Drilling An Oil Well Is Covered Under Mining Service & Not TTA Services: CESTAT
The Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that the services like wireline logging, perforation, and other wireline-related services involving mechanical jobs like cutting, puncture, plug/packer setting, cable splicing, etc. that were undertaken by the appellant at the time of drilling an oil well are integrally connected with the mining of oil or gas and have a direct nexus with the drilling of a well. Thus, these activities would be covered by the...
Once Busines Income Of Wife Accepted During Scrutiny, AO Can't Tax Husband Again Stating Wife Was Not The One Carrying Business: Rajkot ITAT
While accepting on one hand that the income found to be belonging to taxpayer's wife in scrutiny assessment was duly offered to tax, the Rajkot ITAT reprimanded the I-T Department from taking a contrary view and taxing it in the hands of the taxpayer on the ground that his wife was not actually carrying out any business. The Bench of the ITAT comprising of Suchitra R. Kamble (Judicial Member) and Annapurna Gupta (Accountant Member) observed that “since the income of the wife of...