Chartered Accountants Act, 1949
S.22: Professional misconduct – A Chartered Accountant can be held guilty of professional misconduct even when he is acting as an individual in commercial dealings and is not acting as a Chartered Accountant nor discharging any function in relation to his practice as a Chartered Accountant. Under the Chartered Accountants Act, any action which brings disrepute to the profession or the Institute is misconduct whether or not related to professional work. [Chartered Accountants Act, 1949, S.21(3)]
Digest of case laws
Online digest of latest case laws
This Digest of case laws is prepared by KSA Legal and AIFTP from judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
Click here to download the pdf versions of the Digest of case laws Benami Transactions (Prohibition of Right to Recover Property) Ordinance, 1988.
S.2: A mere financial assistance to purchase immovable property cannot be treated as Benami Transaction.
Banking Regulation Act,1949
S.45ZA(2): Nomination for payment of depositor’s money – Nominee rights – Bank Account – Rule of Succession – Death of Depositor- Nominee will have all the rights of the depositor, so far as the depositor’s account is concerned, however, does not make him owner of the money lying in said account – Distribution of money will depend on rules of succession governing the deceased. [Government Saving Certificates Act, 1961, S.6(1)]
Arbitration and Conciliation Act, 1996
S.36: Execution of awards – Anywhere in the country – No requirement for obtaining a transfer of the decree from the Court which would have jurisdiction over the arbitral proceedings. [Arbitration and Conciliation Act, 1996, S.36, 40; Civil Procedure Code, 1908, S.46]
Advocates Act , 1961
S.33: – Bar Council of India – Counsel needs express authority to enter settlement/compromise – Admission by counsel – Client is not bound by the statement or admission. [ Bar Council of India Rules , 1975 , Code of Civil Procedure, 1908, S.151, Order III Rule 1, Constitution of India 1950 Art. 226, 227]
West Bengal Sales Tax Act 1994
S. 2(5):Business – Provision of food, drinks and refreshments etc. to permanent members of an incorporated club-not a “deemed sale”-Payment by members to the club not a consideration-club even if incorporated is merely an agent of the members who facilitates the supply of the goods-principle of mutuality applicable even after 46th amendment to Constitution. [ S. 2(10), 2(30), Constitution of India , Art . 366(29A) (e ) , Finance (No. 2 Act , 1994 , S. 65(25a), 65(105) ,66 , Income -tax Act , 1961 , 2 (24) 44, Sale of Goods Act , 1930 , S. 1(1) ]
Uttar Pradesh Tax on Luxurious Act , 1955
S.3: Levy of Luxury tax- Entry 62 List II: “taxes on luxuries…” – Cannot include “goods” even if they are “luxury goods” which are covered by Entry 54 List II – No overlapping in taxing entries of Seventh Schedule [ Central Sales Tax Act , 1956 , S 14 , 15, Constitution of India , Art 286 ]
Uttar Pradesh Trade Tax Act, 1948
S. 2(h): Sale- Section 2(h), U.P. Trade Tax Act, 1948 after amendment in consonance with Art. 366(29-A) of the Constitution – Concept of “barter” and “exchange” explained – Since in terms of the Act the manufacturer is a dealer, held, it could not be said that the supply of molasses is the present case was a mode of payment of licence fee [Constitution of India, Article 246, 366(29-A) and Schedule VII List II Entry 54]
Service Tax (Finance Act, 1994)
S. 67 : Valuation of taxable services for charging Service tax – Rule 5- Validity of provision – Determination of value – Reimbursable expenditure or cost incurred by service provider while providing taxable service –Rule 5(1) which provides for inclusion of said expenses in value of taxable service – It is ultra vires to Section 66 and 67 of the Finance Act, 1994
[Service Tax (Determination of Value Rules, 2006 , R.5; Finance Act, 1994, S.66, 67]
Punjab Value Added Tax Act , 2005
Entry 60 (6)(g) : Concessional rate of levy- Mobile battery charger-whether part of mobile phone or accessory thereof-Cell phones covered by HSN code 8525.20.17 – Entry 60(6)(g) of Schedule B under the Punjab & Haryana VAT Act covered said HSN and liable to VAT @ 4%-respondent sold cell phone and battery charger in a single solo pack and collected VAT @4% on the total pack-VAT @ 12.5% collected on separate sale of battery chargers –Battery charger is an accessory of cell phone and not part thereof-concessional rate of tax not applicable. [ S. 26 , 32(1), 53 ]