These judgements are uploaded by our esteemed readers. If you have a judgement on an important topic that you would like to share with others, please use this form to upload it
Augustan Textile Colours Pvt ltd Vs Director of Industries & Anr (Supreme Court)
Supreme Court : Augustan Textile Colours Pvt ltd Vs Director of Industries & Anr (Supreme Court) Date-8th April,2022 Sub- Doctrine of Promissory estoppel- Tax exemption in respect of Works Contract made under SICA Act 1985- whether can be withdrawn by subsequent notification under the Kerala State Sales Tax Act? The limited question in this appeal was the validity… Read More ...
Raimaladitya Textile Pvt Ltd vs. ITO (Bombay High Court)
Bombay High Court: Mistake in Recorded reason- No reason to believe - Approval u/s 151 is mechanical. A mistake in recorded reason could certainly not be the reason to believe that petitioner’s income has escaped assessment. Approval under Section 151 of the Act also has been given on the same reasons, which would also indicate total non application… Read More ...
Noel Harper & Ors Vs Union of India & Anr (Supreme Court)
Supreme Court: Noel Harper & Ors Vs Union of India & Anr(Supreme Court) Date-8th April,2022 Sub-Whether amendment made to Section 7, 12(1A),12A and 17(1) of Foreign Contribution(Regulation) Act, 2010 are manifestly arbitrary, unreasonable and imprinting upon the fundamental rights guaranteed to the petitioners under Articles 14, 19 and 21 of the Constitution. The Supreme Court three judges… Read More ...
DCIT v. M.R. Shah Logistics Private Limited (Supreme Court)
Supreme Court: S. 147 : Reassessment-Beyond four years-Tangible material-Reason to believe-In the form of documents, relevant to the issue -Sufficiency of that material cannot dictate the validity of the notice. [S. 148] Where the “reasons to believe” forming part of the Section 147 of the Act, clearly point to the fact that the reopening of assessment was… Read More ...
JM Financial and Investment Consultancy Services Pvt. Ltd. v. ACIT (Bombay High Court)
Bombay High Court : S. 151 : Reassessment-After the expiry of four years-Limitation-Sanction-Sanction by Additional Commissioner instead of Principal Commissioner-Taxation and other laws (Relaxation of certain Provisions) Act, 2020 only extended period of limitation and not for approval by the competent Authority-Sanction by Additional Commissioner was held to be bad in law-Reassessment notice was quashed. [S. 147, 148, Art.… Read More ...
PCIT v. Mahagun Realtors Private Limited (Supreme Court)
Supreme Court: S. 143(3): Assessment-Order passed in the name of non-existent amalgamating entity-valid. [Companies Act, 1956, S. 394, 481] It was held that corporate death upon amalgamation does not invalidate assessment as after amalgamation, the amalgamating entity is treated as a continuing one, and any benefits, by way of carry forward of losses (of the transferor company),… Read More ...
Experion Developers Pvt ltd Vs Sushma Ashok Shiroor (Supreme Court)
Supreme Court: Experion Developers Pvt ltd Vs Sushma Ashok Shiroor (Supreme Court) Date-7th April,2022 Sub-Delay in handing over possession, remedy available to the Consumer under Consumer Protection Act and Real Estate Regular Act run parallel, One sided clauses in Agreement amounts to Unfair trade practice and cannot govern the refund mechanism , refund with 9% interest from… Read More ...
Deepak Bajaj (ITAT Kolkata)
ITAT, B Bench Kolkata: Failure on the part of SO to deliver copy of reason to believe to assessee within prescribed time of 6 years ending on 31.3.2015,to raise objection to reopen the legally closed assessment u/s 143(3) of IT Act 1961,is bad in law and against law of natural justice, not sustainable in the eye of law, further… Read More ...
ACIT vs. Leena Gandhi Tiwari (ITAT Mumbai)
Mumbai Tribunal : Black Money (Undisclosed Foreign Income & Assets) and Imposition of Tax Act, 2015. S. 43 : Penalty for failure to furnish return of income an information, or furnish inaccurate particulars about an asset (including interest in any entity) located outside India- Foreign Bank Account-Signatory for late Mother-Amount was donated to the Charity-Not beneficial owner-Mere no… Read More ...
PCIT(Central-2) Vs Mahagun Realtors Pvt ltd (Supreme Court)
Supreme court: PCIT(Central-2) Vs Mahagun Realtors Pvt ltd(Supreme Court) Date-5th April, 2022 Sub- Assessment order issued in the name of Amalgamating company post amalgamation upheld, department’s SLP allowed, decision in the case of CIT Vs Spice Infotainment Ltd and PCIT Vs Maruti Suzuki India Limited distinguished. The issue regarding assessment in the name of amalgamating company having… Read More ...