{"id":14198,"date":"2019-11-16T14:23:08","date_gmt":"2019-11-16T08:53:08","guid":{"rendered":"http:\/\/itatonline.org\/info\/?p=14198"},"modified":"2019-11-16T14:23:08","modified_gmt":"2019-11-16T08:53:08","slug":"coming-to-mumbai-was-the-best-thing-in-my-career-chief-justice-akil-kureshi-praises-tax-bar-video","status":"publish","type":"post","link":"https:\/\/itatonline.org\/info\/coming-to-mumbai-was-the-best-thing-in-my-career-chief-justice-akil-kureshi-praises-tax-bar-video\/","title":{"rendered":"Coming To Mumbai Was The Best Thing In My Career: Chief Justice Akil Kureshi Praises Tax Bar (Video)"},"content":{"rendered":"<p>Chief Justice Mr. Akil Kureshi, on the occasion of his transfer from Mumbai to Tripura, described his posting in Mumbai as the best thing that happened to him in his career as a Judge. He stated that the Mumbai Tax Bar has excellent advocates and he praised it for qualitative  representations. The Tax Bar also complimented the learned Judge for a fair and patient hearing, and quick disposal of matters<\/p>\n<p><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/_KR9bkCkQts\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p><strong>Honourable Justice Mr. Akil Kureshi, Chief  Justice of the Tripura High Court &ndash; Farewell function by the Tax Bars on 16th  November (Thursday), 2019 at Mumbai.<\/strong><\/p>\n<p>ITAT Bar Association Mumbai Jointly with Sales  Tax Bar Association and the Central Excise and the Customs Bar Association have  organized a farewell function on 16th November 2019 at Mumbai in Honour of Justice Mr. Akil  Kureshi in taking charge as Chief Justice of the Tripura High Court. Large  number of professionals attended the function.<\/p>\n<p>Mr. Hiro Rai, Advocate President of the of the  ITAT Bar Association Mumbai, in his welcome address stated that for every  member of the Bar it has been a real pleasure and privilege to attend before  his lordship. He wished him success on his future endeavors.<\/p>\n<p>Mr. Vikram Nankani, Senior Advocate, on behalf  of the Central Excise and the Customs Bar Association and Mr. Vinay Patkar,  Advocate, President of the Sales Tax Bar Association Mumbai, wished the  Honourable Justice Mr. Akil Kureshi all the success as the Chief Justice of the  Tripura High Court.<\/p>\n<div id=\"attachment_14199\" style=\"width: 610px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/itatonline.org\/info\/wp-content\/uploads\/2019\/11\/Akil-Kureshi.png\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-14199\" src=\"https:\/\/itatonline.org\/info\/wp-content\/uploads\/2019\/11\/Akil-Kureshi.png\" alt=\"Akil Kureshi\" width=\"600\" height=\"326\" class=\"size-full wp-image-14199\" srcset=\"https:\/\/itatonline.org\/info\/wp-content\/uploads\/2019\/11\/Akil-Kureshi.png 600w, https:\/\/itatonline.org\/info\/wp-content\/uploads\/2019\/11\/Akil-Kureshi-300x163.png 300w, https:\/\/itatonline.org\/info\/wp-content\/uploads\/2019\/11\/Akil-Kureshi-100x54.png 100w, https:\/\/itatonline.org\/info\/wp-content\/uploads\/2019\/11\/Akil-Kureshi-150x82.png 150w, https:\/\/itatonline.org\/info\/wp-content\/uploads\/2019\/11\/Akil-Kureshi-200x109.png 200w, https:\/\/itatonline.org\/info\/wp-content\/uploads\/2019\/11\/Akil-Kureshi-450x245.png 450w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><p id=\"caption-attachment-14199\" class=\"wp-caption-text\">Chief Justice Akil Kureshi with the distinguished members of the Tax Bar<\/p><\/div>\n<p>Speaking on the occasion Honourable Justice Mr.  Akil Kureshi, Chief Justice of the Tripura High Court, highly appreciated the  quality of the representation before the High Court by the Tax Bar of Mumbai.  He further mentioned as follow: <\/p>\n<p>&ldquo;<em>Coming  to Mumbai was perhaps the best thing that has happened to me, my career as a  Judge. It is not a blessing in disguise, it is undisguised blessing. New place,  new people, new culture, new challenges, new food, thoroughly enjoyed it. The  initial period when I did tax was outstanding. You are an outstanding Bar  having excellent seniors, very good middle level advocates and also very  talented juniors.<\/em>&rdquo;<\/p>\n<p>&ldquo;<em>Mumbai  is the commercial capital of our country and we have the tax bar which is one  of the premiere bars of our country and High Court is called the Premiere High  Court of the Country, then why are we not taking lead in deciding the new  issues?<\/em>&rdquo;<\/p>\n<p>His lordship also mentioned as quoted below:<\/p>\n<p>&ldquo;<em>Some of  the finest tax counsels are from the office of Mr. Soli Dastur. Mr. Soli Dastur  had about 20 to 21 Juniors and today we have at least 5 or 6 quality all <\/em><em>India<\/em><em> arguing counsels from just one chamber. We need more Soli Dasturs in this place<\/em>&rdquo;<\/p>\n<p>Flower bouquets were presented on behalf of all  the three Tax Bar Associations. <\/p>\n<p>All the professionals present on the occasion  wished good luck to <a name=\"_GoBack\" id=\"_GoBack\"><\/a>Honourable Justice Mr. Akil Kureshi,  Chief Justice of the Tripura High Court.<\/p>\n<p><strong><u>QUOTES:<\/u><\/strong><\/p>\n<p>Appointment of Justice Kureshi as Chief Justice of Tripura High  Court is welcome by all members of BAR since he is a very popular judge, very  courteous and pleasant in court. Even though all the chief justices are equal  and of the same rank, yet the BAR feels that looking to the experience and  expertise which justice Kureshi has acquired while sitting in Metropolitan  towns like Ahmadabad and Mumbai where there are huge commercial litigations,  his talent should have been better utilized in other states where there is  voluminous work relating to corporate and commercial laws. The Bar wishes him  great success, in his new assignment.<\/p>\n<p><em>Dr.Y.P.Trivedi, Sr.  Advocate Supreme Court, Mumbai<\/em><br \/>\n  &#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;<\/p>\n<p>Hon&rsquo;ble Justice Mr. Justice Akil Abdulhamid Kureshi is one of the  finest judges in the Bombay high Court in our country. Honourable Justice has rendered landmark  judgments in the field of Taxation &amp; other laws. His lordship&rsquo;s expertise  and great knowledge in the field of taxation and vast experience as a lawyer  and judge made him an invaluable asset to the Indian judiciary. His lordship  takes keen interest in educating young minds using his vast experience and  wisdom which was evident during his visit to Maharashtra National Law University,  Mumbai on 2.3.2019. His lordship&rsquo;s keen observation and knowledge would be  instrumental in rendering speedy and efficacious justice, quick disposal of  large number of matters. In Tripura around 2,877 matters are pending as on  September 2019. Honourable justice should be able reduce the pendency to a  large extent bringing great relief to the litigants. Citizens of Tripura may  largely be benefitted due to the transfer. I had the privilege to appear and  argue before his Lordship in various cases. While sitting in the court, I also  observed that honourable Justice was very encouraging of young lawyers who  appeared before him. I wish him all the best for his future endeavours.<\/p>\n<p><em>Dr. K. Shivaram, Senior  Advocate<\/em><br \/>\n  &#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;<\/p>\n<p>Justice&nbsp; Kureshi&nbsp; endeared&nbsp;  himself&nbsp; to&nbsp; the&nbsp;  members&nbsp; of&nbsp; the&nbsp;  Bar&nbsp; with&nbsp; his&nbsp;  patient&nbsp; hearing,&nbsp; practical&nbsp;  approach&nbsp; to&nbsp; the&nbsp;  issues&nbsp; in&nbsp; dispute&nbsp;  and&nbsp; by&nbsp; delivering&nbsp;  judgement&nbsp; in&nbsp; a&nbsp;  lucid&nbsp; and&nbsp; simple&nbsp;  language&nbsp; understood&nbsp; by&nbsp;  all.&nbsp; Justice&nbsp; Kureshi&nbsp;  will&nbsp; always&nbsp; be&nbsp;  remembered&nbsp; for&nbsp; his&nbsp;  exemplary&nbsp; integrity,&nbsp; humility,&nbsp;  dedication&nbsp; to&nbsp; work&nbsp;&nbsp;  and&nbsp; profound&nbsp; knowledge&nbsp;  of&nbsp; law&nbsp; particularly&nbsp;  tax&nbsp; laws.&nbsp; Justice&nbsp;  Kureshi&nbsp; was&nbsp; a&nbsp;  learned&nbsp; judge&nbsp; who&nbsp;  left&nbsp; a&nbsp; deep&nbsp;  imprint&nbsp; on&nbsp; both the&nbsp;  junior&nbsp; and&nbsp; senior&nbsp;  members&nbsp; of&nbsp; the&nbsp;  Bar&nbsp; within&nbsp; a&nbsp;  short&nbsp; span&nbsp; of&nbsp;  time&nbsp; he&nbsp; had&nbsp;  been&nbsp; posted&nbsp; in&nbsp;  Bombay.&nbsp; I&nbsp; take&nbsp;  this&nbsp; opportunity&nbsp; to&nbsp;  congratulate&nbsp; Justice&nbsp; Kureshi&nbsp;  and&nbsp; wish&nbsp; him&nbsp;  all&nbsp; the&nbsp; Best&nbsp;  on&nbsp; his&nbsp; appointment&nbsp;  as&nbsp; Chief&nbsp; Justice&nbsp;  of&nbsp; Tripura&nbsp; High&nbsp;  Court.<\/p>\n<p>Subhash&nbsp; S.&nbsp; Shetty,&nbsp;  Advocate&nbsp; <br \/>\n  &#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;<\/p>\n<p><strong>FAREWELL TO JUSTICE  KURESHI<\/strong><\/p>\n<p>&ldquo;Much awaited notification appointing Justice Akil A. Kureshi as  Chief Justice of Tripura High Court, have been issued on 8th November, 2019.<br \/>\n  Unnecessary and avoidable controversy arose immediately after the  elevation of Justice Subhash Reddy, the then Chief Justice of Gujarat High Court to Supreme  Court. In a normal procedure adopted till a new Chief Justice takes charge, the  senior most judge of the High Court is notified as Acting Chief Justice.  Justice Kureshi being the senior most Judge of the said court, he should have  been appointed as acting Chief Justice of Gujarat High Court but justice  Kureshi was transferred to Bombay High Court and his junior Justice A S Dave  was notified to be acting Chief Justice of the Gujarat High Court. <\/p>\n<p>Justice Kureshi while presiding the Tax Bench of tax. I had the  privilege of appearing before him at Gandhinagar in Gujarat.<\/p>\n<p>His transfer to Bombay High Court was a benefit to tax bar. Being a studious and  hard-working judge he believed in pre-studying all the matters that may have  been placed on the board for hearing. <\/p>\n<p>Now that Justice Kureshi have been notified to be Chief Justice of  Tripura High Court, I am confident the Tripura Bar will gain enormously.  Justice Kureshi will equally shine out as an outstanding Judge and soon be  elevated to the Apex Court.&rdquo;<\/p>\n<p><em>P.C. Joshi, Advocate, <\/em><em>Bombay<\/em><em> High Court<\/em><br \/>\n  &#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;<\/p>\n<p>Honourable Justice Kureshi is most  deserving. A judge par excellence. Fast, intelligent, hard working and above  all, honest to the core! <\/p>\n<p>Should be elevated to the Supreme Court as  soon as possible.<\/p>\n<p><em>Tushar  Hemarajani, Advocate, <\/em><em>Gujarat<\/em><br \/>\n  &#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;<\/p>\n<p>&quot;Justice Kureshi, particularly when he was in the Gujarat High  Court, has emerged as one of the leading authorities on sales tax law. His  judgments in sales tax and other tax laws are widely cited throughout India and  considered gold standard. His wisdom and deep knowledge will be sorely missed  by all indirect tax lawyers in our State of Maharashtra.&quot;<\/p>\n<p><em>Vinay Patkar,<\/em><br \/>\n    <em>President sales tax  Tribunal Bar Association<\/em><br \/>\n  &#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;<\/p>\n<p>Justice Kureshi, is one of those rare judges who effortlessly blend  intelligence, industry, independence and incisiveness and dispense justice in a  free, fair and fearless manner. And they do so while displaying patience ,  humaneness , soft and suave persona. He was never bothered by the pecuniary  stakes or personalities involved and decided cases by their sheer intrinsic  merit, a quality that endeared him to the entire bar but also&nbsp; made him pay rather personal&nbsp; heavy price.<\/p>\n<p>The biggest tribute to a Judge is when the entire bar rises in  unison and takes cudgels on his behalf&nbsp;&nbsp;  to uphold majesty of justice and honour of judiciary. He is one judge  who has received this tribute instantly. He has evenly endeared himself to two  of country&rsquo;s elite bars&nbsp; &#8211; Ahmedabad and Bombay.<\/p>\n<p>By his long and consistent attitude he has freshly defined what &ldquo;  correctness&rdquo; means and it is no wonder that in present times, he is considered  as epitome of a &ldquo;Judge&rdquo;.<\/p>\n<p><em>Vipin Jain, Managing  Partner, TLC Legal<\/em><br \/>\n  &#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;<\/p>\n<p><strong>Farewell function to  Hourbable Mr Justice Kureshi by Bombay Bar Association.<\/strong><\/p>\n<p>Bombay Bar Association has arranged a farewell function in honour of  Hourbable Mr. Justice Kureshi on 11\/11\/2019, on his appointment as Chief  Justice of Tripura High Court. Large number of advocates attended the function  and there was no place to stand in the Bar Association premises which displayed  the popularity of the Honourable Justice amongst the Bar members. <\/p>\n<p>Speaking on the occasion, Mr. Milan Sathe, Senior Advocate and  President of the Bombay Bar Association stated that an year back, on 14th November, 2018, Justice Kureshi had sworn as the Judge in Mumbai. A large number  of events have taken place since then. He said that he was extremely happy that  Justice Kureshi was elevated as Chief Justice of Tripura High Court after it  was long due. However, the fact that Justice Kureshi will no longer remain in  Mumbai saddens him. He further mentioned that Justice Kureshi was popular in  Ahmedabad as well as in Mumbai. In the last 30 years, he had heard from both  Assessee as well as Revenue that they were very happy with Justice Kureshi as a  Judge. He congratulated Justice Kureshi on his elevation.<\/p>\n<p>Dr. Milind Sathe<\/p>\n<p><strong><u>Chief  Justice Akil Kureshi:<\/u><\/strong><\/p>\n<p>His Lordship greeted all the members present.  He mentioned that he had taken charge on 14th November, 2018 in  Bombay High Court and is demitting charge on 14th November 2019.  Justice Kureshi recounted the time when the Bombay bar Association had given  him a warm welcome on his transfer to the Bombay High Court. He expressed that  one year had passed in a blink of an eye and on looking back, the only feeling  is of immense satisfaction due to great support from the Bombay Bar  Association. He was happy to mention that he had the opportunity to work on the  cream work i.e. Direct and Indirect tax matters and had the pleasure to hear  Senior Advocates as well as young and talented Junior Advocates.<\/p>\n<p>He said he could never forget the way Bombay  bar Association supported him. He shared an incident where a law student had  asked his lordship whether he regretted any of the judgments he passed.  Lordship replied that he never regretted ay of the decisions passed since all  judgments were delivered based on circumstances during that time.<\/p>\n<p>He quoted &ldquo;Came to Mumbai being dazed, leaving  Mumbai with clarity. Will come to Mumbai again and again&rdquo;.<\/p>\n<p align=\"left\">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;<\/p>\n<p>At present there are more than 5,300 matters  pending for admission and about more than 5,900 matters are pending for final  hearing in direct tax matters. Honourable Justice Mr. Akil Kureshi used to  dispose most of the appeals at the time admission itself which has helped in  laying the law on the subject and reduction in pendency. Few Judgements of  Justice Mr. Akil Kureshi are as under ; <\/p>\n<p><u>AKIL  KURESHI JJ &ndash; (Few Judgments)<\/u><\/p>\n<p>1. Where AO  carried out extensive research to conclude that services availed by assessee  advertising and media agency for which payment was made to different agencies  were in nature of technical services, however such research material was not  provided to assessee to rebut same, principles of natural justice having been  violated.<\/p>\n<p><strong><em>TLG <\/em><\/strong><strong><em>India<\/em><\/strong><strong><em> (P.)  Ltd. v. ITO &ndash; TDS [2019] 109 taxmann.com 261 (Bom)(HC)<\/em><\/strong> <\/p>\n<p>2. Assessee failed to produce investors  despite of various opportunity granted to it and, moreover there was no  evidence on record establishing genuine investments on their part in shares of  assessee, addition u\/s.68 is justified. <\/p>\n<p><strong><em>Royal Rich Developers (P.) Ltd.v.Pr.  CIT [2019] 265 Taxman 99 (Bom)(HC)(MAG)<\/em><\/strong> <\/p>\n<p>3. Where holding company of assessee  demerged its business unit which was taken over by assessee, AO was not  justified in levying interest u\/s.234C for non-payment of tax falling due for  period before acquisition of its business by assessee.<\/p>\n<p><strong><em>Ultratech Cement Ltd.v. CCIT  [2019] 110 taxmann.com 9 (Bom)(HC)<\/em><\/strong> <\/p>\n<p>4. Where AO initiated reassessment  proceedings on ground that sales promotion expenses claimed by assessee as  deduction was in nature of capital expenditure and, thus, assessee&#8217;s claim was  wrongly allowed, in view of fact that there was a complete disclosure of all  primary material facts on part of assessee in course of assessment, initiation  of reassessment proceedings merely on basis of change of opinion was not  justified.<\/p>\n<p><strong>Asian  Paints Ltd. v. DCIT [2019] 102 taxmann.com 375 \/261 Taxman 380 (<\/strong><strong>Bombay<\/strong><strong>)<\/strong> <\/p>\n<p>5. Where assessee filed writ petition  contending that impugned assessment order and subsequent recovery proceedings  were to be set aside as there was no valid service of assessment notice upon  assessee, since alternate efficacious statutory remedy of filling appeal to  Commissioner (Appeals) was available, instant writ petition could not be  entertained<\/p>\n<p><strong>Camelot  Enterprises (P.) Ltd. v. TRO [2019] 105 taxmann.com 155 (<\/strong><strong>Bombay<\/strong><strong>)<\/strong> <\/p>\n<p>6. CBDT cannot issue any instructions or  directions to any income tax authority to make a particular assessment or to  dispose of a case in a particular manner, hence, portion of Central Action Plan  prepared by CBDT which gave higher weightage for disposal of appeals by orders  favouring revenue was to be set aside.<\/p>\n<p><strong>Chamber  of Tax Consultants v. CBDT [2019] 104 taxmann.com 397\/ 263 Taxman 551 (<\/strong><strong>Bombay<\/strong><strong>)<\/strong> <\/p>\n<p>7. Where reopening notice sent at address of  assessee available in PAN database was returned by postal authorities, by  virtue of proviso to sub-rule (2) of rule 127, communication had to be  delivered at address of assessee as available with banking company and since  revenue had failed to do so, there was no service of reopening notice, thus,  subsequent assessment order making additions to income of assessee was  unjustified.<\/p>\n<p><strong>Harjeet Surajprakash  Girotra v. UOI [2019] 108 taxmann.com 491 (<\/strong><strong>Bombay<\/strong><strong>)<\/strong> <\/p>\n<p>8. TPO cannot assume jurisdiction to  determine arm&#8217;s length price of a specified domestic transaction not reported  to him.<\/p>\n<p><strong>Times  Global Broadcasting Company Ltd. v. UOI [2019] 413 ITR 42 (<\/strong><strong>Bombay<\/strong><strong>)<\/strong> <\/p>\n<p>9. Where by non-speaking order Revenue  rejected petitioner&#8217;s application for stay on demand which was contrary to orders  of appellate authorities in preceding years and, further, without issuing any  reasonable notice, withdrew certain amount from provisionally attached bank  account of assessee towards adjustment against demand for other years, action  of Revenue was high handed and manifestly unfair towards petitioner.<\/p>\n<p><strong>Milestone  Real Estate Fund v. ACIT [2019] 105 taxmann.com 292 \/ 263 Taxman 523 (<\/strong><strong>Bombay<\/strong><strong>)<\/strong> <\/p>\n<p>10. Where purchase of property was delayed  due to void compulsory acquisition by Appropriate IT Authority, date of  purchase would relate back to original agreement, and not to date of execution  of sale deed and benefit of cost indexation was to be provided from said date.<\/p>\n<p><strong>Amarjeet  Thapar v. ITO [2019] 101 taxmann.com 221 \/ 261 Taxman 23 (<\/strong><strong>Bombay<\/strong><strong>)<\/strong> <\/p>\n<p>11. Where assessee had not raised dispute  regarding taxability of Government subsidy, received by it under a Government  scheme, during entire settlement proceedings till settlement order was passed,  assessee could not urge Commissioner to examine such an issue in exercise of  revisional powers.<\/p>\n<p><strong>Mandhana  Industries Ltd. v. PCIT [2019] 103 taxmann.com 301 \/ 262 Taxman 137 (<\/strong><strong>Bombay<\/strong><strong>)<\/strong> <\/p>\n<p>12. Revenue having recovered approximately  38 per cent of disputed tax amount during pendency of appeals and no special  circumstances pointed out to permit revenue to carry out full recoveries,  revenue would not be permitted to carry out any further recoveries pending  appeals.<\/p>\n<p><strong>Vodafone  India Ltd. v. CIT [2019] 107 taxmann.com 304 \/ 265 Taxman 98 (<\/strong><strong>Bombay<\/strong><strong>)<\/strong> <\/p>\n<p>13. Consideration that arose in hands of HUF  on sale of capital asset had been invested for purchase of new residential  house in name of some of its members instead of assessee (HUF), deduction u\/s.  54F in hands of HUF would still be permissible. <\/p>\n<p><strong>Pr. CIT  vs. Vaidya Panalalmanilal (HUF) (2018) 98 taxmann.com 189 (Guj)(HC)<\/strong> <\/p>\n<p>14. Assessing Officer on tentative  re-working of assessee&#8217;s accounts formed a prima facie opinion and suggested  collection of tax at reduced rate of 1 per cent, but since projection of losses  by assessee were found questionable, assessee&#8217;s application for reduced rate of  TDS could not be granted.<\/p>\n<p><strong>OPJ  Trading (P.) Ltd. v. ITO [2018] 98 taxmann.com 117 (Guj)(HC)<\/strong> <\/p>\n<p>15. Objects in original trust deed were  sufficiently wide and covered range of charitable activities relatable to  education, medical aid and help to poor in times of calamities, registration of  assessee trust could not be denied for amended objects clarifying running of  diagnostic centre on no profit basis. <\/p>\n<p><strong>CIT vs. <\/strong><strong>Paramount<\/strong><strong> Charity Trust [2018] 97 taxmann.com 134 (<\/strong><strong>Gujarat<\/strong><strong>)(HC)<\/strong> <\/p>\n<p>16. Assessee claimed deduction u\/s. 54B in  relation to proceeds received upon sale of agricultural lands and Assessing  Officer, after examining all required document furnished by assessee, completed  assessment and allowed assessee&#8217;s claim, notice of reopening issued beyond  period of four years from end of relevant assessment year was to be set aside.<\/p>\n<p><strong>Devendrasinh  Chhatrasinh Vaghela v. Jt. CIT [2018] 97 taxmann.com 173 (<\/strong><strong>Gujarat<\/strong><strong>)<\/strong> <\/p>\n<p>17. Once gifts are assessed in block  assessment proceedings, same cannot be subject matter of assessment in regular  assessment; whether in block assessment, Assessing Officer has found gift to be  genuine or non-genuine can be of no consequence.<\/p>\n<p><strong>CIT vs.  Mukesh M Sheth [2018] 256 Taxman 443 (<\/strong><strong>Gujarat<\/strong><strong>)(HC)<\/strong> <\/p>\n<p>18. Expenditure incurred on product  development and claimed deduction for same u\/s. 37(1), expenditure so incurred  did not involve development of a new product or even a new technique or  technology to manufacture existing product more efficiently rather it was aimed  at improving quality of existing products of assessee, claim for deduction was  to be allowed.<\/p>\n<p><strong>CIT vs.  Arvind Products Ltd.[2018] 255 Taxman 472 (<\/strong><strong>Gujarat<\/strong><strong>)(HC)<\/strong> <\/p>\n<p>19. Reopening of the assessment would not be  permitted for fishing or a roving inquiry. <\/p>\n<p><strong>Pr. CIT  vs. Manzil Dineshkumar Shah (2018) 406 ITR 326 (Guj)(HC)<\/strong> <\/p>\n<p>20. If construction can be stated to have  been carried out after transfer of original capital asset, then claim of  deduction u\/s.54F cannot be denied.<\/p>\n<p><strong>Ushaben Jayantilal  Sodhan vs. ITO (2018) 407 ITR 276 (Guj)(HC)<\/strong> <\/p>\n<p>21. Once research and development facility  is approved, entire expenditure incurred on development of research and  development facility has to be allowed for weighted deduction under section  35(2AB)<\/p>\n<p><strong>Banco  Products (<\/strong><strong>India<\/strong><strong>) Ltd. vs. Dy. CIT (2018) 405 ITR 318  (Guj)(HC)<\/strong> <\/p>\n<p>22. No notice u\/s. 148 will be issued by AO  who is below rank of Joint Commissioner, unless Joint Commissioner is  satisfied, on reasons recorded by AO that it is fit case for issuance of such  notice.<\/p>\n<p><strong>Mayurbhai  Mangaldas Patel vs. ITO (2018) 407 ITR 238 (Guj)(HC)<\/strong> <\/p>\n<p>23. If demand of tax is quite high and  issues are pending at first appellate stage, then stay order can be granted to  assessee.<\/p>\n<p><strong>Ashokbhai  Jagubhai Kehni vs. Dy.CIT (2018) 405 ITR 179 (Guj)(HC)<\/strong> <\/p>\n<p>24. If application of assessee was decided  by Chief Commissioner and accepted, there was sufficient time to enable Revenue  to take such return in scrutiny if so desired.<\/p>\n<p><strong>Sahebsingh  Bindrasingh Senagar Huf vs. Chief CIT (2018) 402 ITR 368 (Guj)(HC)<\/strong> <\/p>\n<p>25. When Assessee had filed application for  registration u\/s 12A along with revenue records relating to lands held by  trust, registration could not be denied.<\/p>\n<p><strong>Pr. CIT  (Exemptions) vs. Dawoodi Bohra Masjid (2018) 402 ITR 29 (Guj)(HC)<\/strong> <\/p>\n<p>26. Delay ranging between 10 months of  one-and-half years cannot be considered contemporaneous to assessment proceedings.<\/p>\n<p><strong>Pr. CIT  vs. Jitendra H. Modi HUF (2018) 403 ITR 110 (Guj)(HC)<\/strong> <\/p>\n<p>27. Prior to introduction of clause(i) to  explanation to section 115JB, then existing clause (c) did not cover case where  assessee made provision for bad or doubtful debt and with insertion of clause  (i) to explanation with retrospective effect, any amount or amounts set aside  for provision for diminution in value of asset made by assessee, would be added  back for computation of book profit u\/s 115JB.<\/p>\n<p><strong>CIT vs. Vodafone  Essar Gujarat Ltd. (2017) 397 ITR 55 (Guj) ((FB))<\/strong> <\/p>\n<p>28. Interest on Special Purpose Notes cannot  be disallowed when said interest was in respect of capital borrowed for  purposes of business of assessee.<\/p>\n<p><strong>Nirma  Ltd. vs. ACIT (2018) 405 ITR 277 (Guj)(HC)<\/strong> <\/p>\n<p>29. Where CIT has power to revised assessment  framed u\/s. 143 then, assessment order can be revised. <\/p>\n<p><strong>Designmate  India P. Ltd. vs. CIT (2018) 406 ITR 0443 (Guj)(HC)<\/strong> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chief Justice Mr. Akil Kureshi, on the ocassion of his transfer from Mumbai to Tripura, described his posting in Mumbai as the best thing that happened to him in his career as a Judge. He stated that the Mumbai Tax Bar has excellent advocates and he praised it for qualitative  representations. The Tax Bar also complimented the learned Judge for a fair and patient hearing, and quick disposal of matters<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/itatonline.org\/info\/coming-to-mumbai-was-the-best-thing-in-my-career-chief-justice-akil-kureshi-praises-tax-bar-video\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,6],"tags":[],"class_list":["post-14198","post","type-post","status-publish","format-standard","hentry","category-all-information","category-supreme-courthigh-court-related"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts\/14198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/comments?post=14198"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/posts\/14198\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/media?parent=14198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/categories?post=14198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/info\/wp-json\/wp\/v2\/tags?post=14198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}