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Horticulture Experiment Station Gonikopal, Coorg Vs Regional Provident Fund Organisation (Supreme Court)
Supreme Court of India: Horticulture Experiment Station Gonikopal, Coorg Vs Regional Provident Fund Organisation Forum-Supreme Court of India Date-23rd February 2022 Sub-Whether element of Mens rea (guilty mind) is essential for violation of civil laws. The Supreme Court in this case was called upon to decide that once an employer violated the law relating to deposit of PF, whether… Read More ...
E-Land Apparel Ltd. v. ACIT (Bombay High Court)
Bombay High Court : S. 147 : Reassessment-After the expiry of four years-Interest and property tax paid subsequently after slump sale-Claimed as deduction in the year of payment-Amount disclosed in tax audit report relying on case law-Reassessment notice for incorrect claim- Change of opinion-Reassessment notice was quashed. [S. 43B, 44AB, 148 , Art. 226] In the Form No 3CD… Read More ...
Rakesh Garg Vs PCIT Ajmer (Rajasthan High court)
Rajasthan high court : Rakesh Garg Vs PCIT Ajmer Forum-Rajasthan High Court Date-17th February 2022 Sub-Whether Appeal filed before ITAT after the cut-off date of 31/1/2020 and delay in filing the appeal having been condoned, the application under the Vivad Se Vishwas Act 2020 is eligible to be accepted or is to be rejected in terms of FAQ No… Read More ...
DCIT v. Dilip J. Thakkar (ITAT Mumbai)
Mumbai Tribunal : S. 149 : Reassessment-Foreign asset-HSBC Geneva account of Trust -Time limit for notice-16 years-Assets held outside India- Introduced vide Finance Act, 2012-Retrospective in nature. [S. 147, 148, 151] A search and seizure operation were carried out in the assessee’s premises on August 10, 2011. Documents were found pertaining to a foreign bank account, based on… Read More ...
Adiraj Manpower Services Pvt ltd Vs CCE Pune II (Supreme Court)
Supreme Court of India: Adiraj Manpower Services Pvt ltd Vs CCE Pune II Forum-Supreme Court of India Date-18-02-2022 Sub-Whether services provided are man power services or job work services so as to be exempted under the relevant notifications issued under Finance Act, 1994. The Supreme Court in this case was dealing with the question whether the appellant in this… Read More ...
Creative Museum Designers Vs ITO,Exemptions,Ward 1(1),Kolkata (Calcutta high court)
Calcutta High Court: Creative Museum Designers Vs ITO,Exemptions,Ward 1(1),Kolkata Date-10th February 2022 Forum-Calcutta High court Sub-Whether the activity of the petitioner of setting up of museums, science parks, planetariums, interactive galleries, exhibits and other forms of dissemination of knowledge through informal means, at the behest of other public bodies or entities, be regarded as commercial in nature and… Read More ...
Rohan Developers Pvt. Ltd. v. ITO (IT) (Bombay High Court)
Bombay High Court : S. 195 : Deduction at source - Non-resident – Lower deduction of tax – Indexation – Binding precedent – Order of Tribunal is binding on lower Authorities - Capital gains - Cost of acquisition of the property in the hands of seller is deemed to be the cost for which the said property was acquired… Read More ...
Tata Sons Limited v. Dy.CIT (Bombay High Court)
Bombay High Court : S. 147 : Reassessment – After the expiry of four years - No failure to disclose material facts – Change of opinion – Capital gains or business income – Sale of shares – Reassessment proceedings are quashed. [S. 28(i), 45, 148, 154, Art. 226] The assessment was completed under section 143(3) of the Act and… Read More ...
Nirmal Bang Securities Pvt. Ltd. v. ACIT (Bombay High Court)
Bombay High Court : S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts-Information based on search of third party -Reason recorded not indicated anywhere or any stretch of imagination the income has escaped assessment–Non application of mind by the sanctioning authority–Observed that the Assessing Officers will record better reasons for reopening and the Authority… Read More ...
Pradeep Kumar and another Vs Post Master General and others (Supreme Court)
Supreme Court of India: Pradeep Kumar and another Vs Post Master General and others Forum-Supreme court of India Date-7th February 2022 Sub-Whether post office is liable for payment of KVPs to the original holder when the same is encashed by the agent of the Post office by fraud. The law relating to holder, holder in due course , payment… Read More ...