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Mon Mohan Kohli v. ACIT & Anr WP(C) 6176 of 2021 dated October 30,2021 (Del)(HC)
Delhi High Court : S. 148: Reassessment - Notice-Constitutional validity - The delegation authorized being only for the purpose of enlarging limitation under a valid law, such delegation could not be exercised to resurrect the provision of law that stood omitted from the statute book by virtue of its substitution made by the Finance Act, 2021, w.e.f. 01.04.2021 -… Read More ...
BEEREDDY DASARATHARAMI REDDY Vs V. MANJUNATH AND ANOTHER (Supreme Court)
Supreme Court of India: BEEREDDY DASARATHARAMI REDDY .....Vs V. MANJUNATH AND ANOTHER Forum-Supreme Court of India Date-13th December, 2021 Sub-Whether Karta of a HUF has the power to sale immovable property belonging to the family without consent of all the coparceners of the family. The Supreme Court in this case was considering an appeal where the action of Karta… Read More ...
Tyroon Tea Company Limited & Anr Vs Union of India & Ors (Calcutta High Court)
Calcutta High Court: *Tyroon Tea Company Ltd & Anr Vs Union of India & Ors* *Forum_Calcutta High Court* *Date-24th November, 2021* *Sub-Constitutional validity and legality of section 194N of the Income Tax Act, 1961 which mandates the deduction of tax at source at the rate of 2% on cash withdrawals from, inter alia, a banking company exceeding Rs.1… Read More ...
Murthy & Ors Vs Saradambal & Ors (Supreme Court of India)
Supreme Court of India: Murthy & Ors Vs C.Saradambal & Ors Forum-Supreme Court of India Date-10th December, 2021 Sub-When a will can be said to have been made by a person when he was in sound and disposing state of mind? The Supreme Court in this case was considering an interesting case when the daughter in law opposed the… Read More ...
De La Rue Security and Currency Print Ltd Vs Commissioner of Domestic taxes (Kenya Tribunal)
Tribunal: Royalties paid to the UK entity were not at arms length. TAT No. 395 of 2018 Whether the price of the bank note paper purchased by the Appellant from DLRI is an arm’s length price which includes the cost associated with the know how to manufacture and design the bank note 149. Based on the… Read More ...
Commissioner of GST and Central Excise Vs Citibank NA (Supreme Court)
Supreme Court of India: Commissioner of GST and Central Excise Vs Citibank N.A. Forum-Supreme Court of India Date-9th December, 2021 Sub-Whether Interchange fees received out of Merchant Discount Rate(MDR) by the issuing bank from accepting bank in relation to credit card transactions carried on a customer is liable to be taxed to service tax in the hands of the… Read More ...
Bpip Infra Pvt. Ltd. and Ors. vs. ACIT and Ors (Rajasthan High Court)
Rajasthan High Court : S. 148 : Reassessment-Notice-Constitutional validity-The delegation authorized being only for the purpose of enlarging limitation under a valid law, such delegation could not be exercised to resurrect the provision of law that stood omitted from the statute book by virtue of its substitution made by the Finance Act, 2021, w.e.f. 01.04.2021-Reassessment notices issued under section… Read More ...
Cargo Service Centre India Pvt. Ltd. vs. DCIT (ITAT Mumbai)
Mumbai Tribunal : S. 263 : Commissioner-Revision of orders prejudicial to revenue- eligibility of loss being carried forward-Issue which is beyond the scope of rectification-Commissioner cannot revise under section 263 of the Act. [S. 154] Where, the Assessing Officer allowed the rectification application of the assessee claiming losses to be carried forward. The PCIT held that the AO… Read More ...
ITO vs. Rajeev Suresh Ghai (ITAT Mumbai)
Mumbai Tribunal : S. 69 : Unexplained investments-Non-resident-On money-Foreign Resident cannot be taxed under section 69 of the Act-DTAA India -UAE. [S. 132(4), Art. 22] Where the assessee is a non-resident Indian, the assessee had paid cash amounts, as 'on money' to certain Builders in India. This amount was treated as an "unexplained investment" under section 69 of… Read More ...
Board of Control for Cricket in India v. PCIT (Mum.)(Trib.)
Mumbai Tribunal : S. 12A : Registration-Trust or institution-Held declining registration on the ground of Indian Premier League (IPL) activities are in the nature of commercial activities is held to be not justified. [S. 2(15), S. 12AA] Where the Department declined registration of a Charitable Organization on the ground of Indian Premier League (IPL) activities are in the… Read More ...