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Radheyshyam Agarwal vs. DCIT (ITAT Mumbai)
mumbai itat: Update Assessee filed a return declaring agricultural income as exempt. He filed MOU entered with Cultivator who paid him lease rent and said rent was shown by him as exempt. AO rejected claim as Inspector report showed that no irrigation was done on land and treated the amount as cash credit and taxed the same… Read More ...
Alfa Laval Lund AB vs CIT (ITAT Pune)
Pune ITAT : Revision by CIT u/s 263 of the Act based on the recommendation of the Assessing Officer lacks statutory sanction, hence bad in law Read More ...
ITO-21(2)(2) vs MTNL Mumbai Employees Co-op Credit Society (ITAT Mumbai)
ITAT Mumbai: Co-operative banks are basically Co-operative society, the income from the same fall under section 80(2)(d) and deduction can be claimed. Read More ...
PCIT v. JK Surface Coatings Pvt. Ltd. (Bombay High Court)
Bombay High Court : S. 143(3) : Assessment-Bogus purchases-Estimation of profit at 10% of total alleged bogus purchases is held to be justified-No substantial question of law. [S. 37(1), 40A(3), 260A] The Assessing Officer disallowed the entire purchases as bogus purchases. On appeal the Commissioner of Income-tax (Appeals) estimated the estimated the profit at 15%. On appeal the Tribunal… Read More ...
SPL Gold India Pvt. Ltd. v. ACIT (Bombay High Court)
Bombay High Court : S. 143(3) : Assessment-Natural justice-Covid-19-Lockdown- Returned income was loss of Rs.10,57,049/- and income assessed was Rs.114,57,33,424-Only three working days’ notice was given to file various details-Order passed without giving sufficient time is violative of the principle of natural justice-Order was set aside. [S. 144, Art. 226] The assessee is in the business of trading of… Read More ...
Doyle De’souza Vs Govt of India through Deputy Chief Labour Commissioner (Supreme Court)
Supreme Court : Doyle De’souza Vs Govt of India through Deputy Chief Labour Commissioner Forum-Supreme Court of India Date-29th October,2021 Sub-When a person can be in charge of, and responsible to, the company for the conduct of the business of the company and thus be liable for punishment if default is committed by the Company. The Supreme Court… Read More ...
Smrutisudha Nayak Vs Union of India & Ors (Orissa High Court)
Orissa High Court: Smrutisudha Nayak Vs Union of India & Ors Forum-Orissa High Court Date-27th October 2021 Sub-Whether notice u/s 153A of the Income-tax Act 1961 for conducting search assessment can be issued in a case where no incriminating materials are found during the course of search. The Chief Justice bench of Orissa High Court in this case… Read More ...
Union of India Vs Bharti Airtel & Ors (Supreme Court of India)
Supreme Court: *Union of India Vs Bharti Airtel & Ors* *Date-28th October 2021* *Forum-Supreme Court of India* *Sub-Whether a supplier is entitled to take credit for inputs by correcting GSTR 3B beyond the period as prescribed by the rules as laid down. * The Apex Court today in the case of Bharti Airtel allowed the appeal of… Read More ...
SRC Chemicals Private Limited & Anr. v. Central Board of Indirect Taxes and Customs & Ors. (Bombay High Court)
Bombay High Court : Refund of IGST paid on exported goods allowed - Technical reason cited by the Customs Authorities i.e. non-transmission of data relating to export from GSTN to ICEGATE not a valid ground to withhold refund lawfully due to an assessee - Costs of Rs. 25,000/- imposed on CBIC. This case underscores the fallibility of digitisation and… Read More ...
Sureshkumar S. Lakhotia v. National e-Assessment Centre & Ors. (Bombay High Court)
Bombay High Court : Final assessment order passed by National Faceless Assessment Centre quashed due to insufficient time being given to respond the Draft Assessment Order. The National Faceless Assessment Centre served a Draft Assessment Order for AY 2018-19 on the Petitioner-assessee on Friday, 23rd April 2021 at 1:40 pm requiring the assessee to respond to the same by… Read More ...