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IN RE: Cognizance for Extension of Limitation Suo Motu Writ Petition (Supreme Court)
Supreme Court: Art. 141 : COVID-19 –Limitation Extended from March 15 , 2020 till February 28 , 2022 - Relief for litigants and lawyers [Art. 142] On account of the situation posed by COVID 19, The Hon’ble Supreme Court has suo motu held that to ease the difficulties faced by the litigants and their lawyers across the… Read More ...
Rena Sahakari Sakhar Karkhana Ltd Vs. Pr CIT-2 Aurangabad (ITAT Pune)
PUNE ITAT : Interest income earned by a co-operative society on its investments held with a co-operative bank would be eligible for claim of deduction under Sec.80P(2)(d) of the Act. Moreover, as the A.O while framing the assessment had taken a possible view, and allowed the assessee's claim for deduction under Sec. 80P(2)(d) on the interest income earned… Read More ...
The State of Maharashtra Vs Shri Vile Parle Kelvani Mandal & Ors (Supreme Court)
Supreme Court of India : *The State of Maharashtra Vs Shri Vile Parle Kelvani Mandal & Ors* *Forum-Supreme Court of India* *Date- 7th January 2022* *Sub-Whether a charitable Trust/society in Maharashtra is liable to pay electricity duty under the Maharashtra Electricity Act, 2016 ?* The Supreme Court in this case was called upon to decide whether a charitable society registered… Read More ...
Kerala State Beverage Manufacturing & Marketing Corporation Limited Vs ACIT Circle 1(1) (Supreme Court)
Supreme Court of India : *Kerala State Beverage Manufacturing & Marketing Corporation Limited Vs ACIT, Circle 1(1)* *Forum-Supreme Court* *Date-3/1/2022* *Sub-Whether surcharge on sales tax is liable to be disallowed u/s 40(a)(iib) of Income-tax Act,1961.* The Supreme Court of India allowing the appeal of the State Government undertaking by allowing the arguments of Senior Advocate S Ganesh that the ‘fee’… Read More ...
Anup Kumar Lakhotia Vs Union of India through CBI (Jharkhand High Court)
Jharkhand High Court: Anup Kumar Lakhotia Vs Union of India through CBI Forum-Jharkhand High Court Date-23rd December,2021 Sub-Whether petitioner can be tried under the various section of Indian Penal Code and Prevention of Corruption Act in connection with the illegal transfer of PAN from Kolkata to Hazaribagh to get favourable order u/s 264 of Income-tax Act,1961 from PCIT… Read More ...
Nayan Jayantilal Balu vs. UOI (Bombay High Court)
Bombay High Court : S. 276C : Offences and prosecutions - Wilful attempt to evade tax - Bogus purchase - Estimate of 12.5 per cent of Bogus Purchase upheld by CIT(A) and ITAT - No penalty was levied - High Court held that prima facie ingredients of offenses are satisfied - Assessee has wilfully and intentionally evaded his tax… Read More ...
Brigade Enterprises Vs Anil Kumar Virmani & Ors (Supreme Court)
Supreme Court of India: *Brigade Enterprises Vs Anil Kumar Virmani & Ors* *Forum-Supreme Court of India* *Date-17th December, 2021* *Sub-Whether suit for delay in delivery of possession by few apartment owners in a complex can be treated as having been made on behalf of all the apartment owners under the Consumer Protection Act and in case it is not… Read More ...
Commissioner of Income Tax (IT-4) vs. Reliance Telecom Limited (Supreme Court)
Supreme Court: A detailed order was passed by the ITAT when it passed an order on 06.09.2013, by which the ITAT held in favour of the Revenue. Therefore, the said order could not have been recalled by the Appellate Tribunal in exercise of powers under Section 254(2) of the Act. If the Assessee was of the opinion… Read More ...
Income Tax Officer vs. V.Mohan (Supreme Court)
Supreme Court: Section 6(1) of the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 nowhere provides that it is “mandatory” to serve the convict or detenu with a primary notice under that provision whilst initiating action against the relative of the convict. Indubitably, if the illegally acquired property is held by a person in his… Read More ...
Milestone Brandcom Private Limited vs. NFAC (Bombay High Court)
Bombay High Court : Bombay High Court passes strictures against Assessing Officer for 'remarkable ineptitude' and 'gross abuse of process'; imposes costs for not considering Assessee's reply to Draft Assessment Order and cutting & pasting the Draft Assessment Order in the Final Assessment Order. The Writ Petition was filed by the Assessee against a Final Assessment Order passed by… Read More ...