high court judgments - Page 20

Mere receipt of information cannot be equated to reason to believe that income has escaped assessment

Piramal Enterprises Ltd. Vs. DCIT (Bombay High Court)

Mere receipt of information from any source would not by itself tantamount to reason to believe that income chargeable to tax has escaped assessment. In the present case the Assessing Officer prima facie has not done the bare necessary/rudimentary enquiry into the material received before he concludes that income chargeable to tax has esc...

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CA guilty of professional misconduct for failure to report suspicious book entries

Council of The Instt. Of Chartered Accountants Of India Vs. CA G S Johar & Anr. (Delhi High Court)

Suffice it to highlight that in paras 26 and 27 of the report the Committee highlighted the modus operandi adopted by PCL and AIL to form a loop with no cash flow coming in, but sales, stocks and receivables increases. The obligation of the auditor concerning transactions which are merely book entries was highlighted i.e. […]...

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No TDS on Long term Lease Rent / Interest / other Payments for Plot Lease paid to GNOIDA

Rajesh Projects (India) Pvt. Ltd Vs CIT (TDS) (Delhi High Court)

This common judgment will dispose of a batch of writ petitions. They were heard together as they involve identical questions of fact and law as to the correct interpretation of Section 194-I of the Income Tax Act [hereafter the Act]....

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Exemption U/s. 11 /12 cannot be denied by invoking Section 2(15) merely for profit from imparting of education

Society for Participatory Research In Asia Vs. ITO (Delhi High Court)

The assessee was a recipient of research and training grant and other income to the tune of Rs. 1.36 crores. The AO determined that the latter were commercial receipts and guided by proviso to Section 2(15) and held that the assessee could not avail the benefit under section 11(23) of the Act. The ITAT relied […]...

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Posted Under: Income Tax |

Goods used in Rail cleaning does not amount to transfer to Railways

VPSSR Facilities Vs Commissioner of Value Added and ANR. (Delhi High Court)

The petitioner (Contractor) impugns the order dated 30.06.20 14 passed by the Commissioner Valued Added Tax holding that the chemicals/Solvents used in the process of cleaning, amounted to sale of goods and the moment the chemicals were poured on the property of the Contractee, even though used for the purposes of cleaning, amounted to de...

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Retired VAT Officer can be appointed as member of VAT Tribunal: HC

Bihar Value Added Tax Act Vs Commercial Taxes Bar Association (Patna High Court)

Mere fact that at one point of time, the officer was working with the Commercial Taxes Department, cannot be a reasonable suspicion to disqualify him for appointment....

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Sec. 14A No attribution of expense for exempted income earned without employee interference

Pradeep Khanna Vs ACIT (Delhi High Court)

If tax exempted income was earned without interference of any employee but rather through solicitation and advertisement of bank the question of attributing any expenditure cannot arise at all....

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Section 256(1): HC returns reference unserved for 16 years unanswered

Naath Industries Pvt. Ltd Vs CIT (Bombay High Court)

This Reference under Section 256(1)of the Income Tax Act, 1961 by the Income Tax Appellate Tribunal (Tribunal) seeks our opinion on two substantial questions of law as framed by it. However, Mr. Rattesar, the learned counsel appearing for the applicant assessee very fairly states that he is not in a possession of evidence to show that the...

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Section 50C not applicable to transfer of leasehold land & building

CIT Vs Greenfield Hotels & Estates Pvt. Ltd (Bombay High Court)

Section 50C of Income Tax Act, 1961 is not applicable while computing capital gains on transfer of leasehold rights in land and buildings....

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CA in practice cannot run Business via Companies, Trusts & Firms

Council of Instt. of Chartered Accountants of India Vs Subodh Gupta & anr. (Delhi High Court)

The Institute of Chartered Accountants has made the instant Reference under Section 21(5) of the Chartered Accountants Act, 1949 in respect of the respondent being indicted for a misconduct other than such misconduct which is referred to in sub-Section (4) of Section 21....

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