"07 June 2018" Archive

Penalty cannot be imposed for mere disclosure of income due to search operation, instead of original return

Pr. CIT Vs Shanti Lal Jain (Rajasthan High Court)

Pr. CIT Vs Shanti Lal Jain (Rajasthan High Court) It is an admitted position that for the purpose of getting immunity from the penalty imposed under Clause 2 of explanation 5 to section 271(1)(c) of the Income Tax Act, 1961, three conditions are required to be satisfied by the assessee. Firstly, if the assessee makes […]...

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Section 54F deduction not available on construction work prior to transfer of property

Ushaben Jayantilal Sodhan Vs ITO (Gujarat High Court)

What sub­section (1) of Section 54 of the Act requires is that the assessee, after the date of transfer, purchases or within three years after such date, constructs a residential unit, only then the benefit of deduction would be granted. This provision, therefore, provides that construction of the residential unit should be done after th...

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Benefit of IDS, 2016 cannot be given to Person Prosecuted u/s 420

M/s Hillways Construction Company Private Limited Vs Income Tax Department and others (Uttarakhand High Court)

M/s Hillways Construction Company Private Limited Vs Income Tax Department and others (Uttarakhand High Court); Admittedly Section 420 of IPC is an offence which comes under Chapter XVII of the IPC. Income Declaration Scheme (IDS), 2016, of which the petitioner is seeking benefit, categorically stipulates that in case prosecution is going...

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Deduction U/s. 80IA not eligible to contractor on Income from maintenance work of Electricity Company

M/s. Covanta Samalpatti Operating Private Limited Vs ACIT (Madras High Court)

This appeal by the assessee is directed against the order passed by the Income Tax Appellate Tribunal in ITA.No.1496/Mds/2005 dated 19.12.2007 for the assessment year 2002-03. The above tax case appeal has been admitted on the following substantial questions of law...

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CESTAT is not proper Appellate Forum for Dispute of Rebate Claim

Shree Rajasthan Syntex Ltd. Vs Union of India (Rajasthan High Court)

That the present writ petition may kindly be allowed and the impugned order dated 1010.2017 (Annex.13) passed by the Respondent No.4, impugned Order-in-Original dated 31.3.2005 (Annex.9) and impugned order – in – Appeal dated. 12.8.2015 (Annex.10) may kindly be quashed and set aside...

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Prosecutions and Punishment under Income-Tax Act, 1961

Apart from penalty for various defaults, the Income-tax Act also contains provisions for launching prosecution proceedings against the taxpayers for various offences. In this part you can gain knowledge about the various provisions relating to prosecution which can be launched under the Income-tax Act....

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Posted Under: Income Tax |

Non-prosecution of appeal on account of tax effect involved being less than prescribed monetary limit

Pr. CIT Vs Choudhary Exports (Bombay High Court)

The learnedCounsel for the Appellant submits that the tax effect involved in the present appeal is less than Rs.20 lakhs and as per the CBDT Circular No.21 of 2015 dated 10th December, 2015, the Department has taken a policy decision not to prosecute the appeals wherein the tax effect is less than Rs.20 lakhs....

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Service Tax payable on Facilitation Fee Charged by RTDC

Commissioner of Central Goods and Service Tax Vs Rajasthan Tourism Development Corporation Ltd (Rajasthan High Court)

The Revenue entertained a view that the amount received by the appellant in the name of facilitation fee, is commission from various shops and emporia for providing services of promoting or marketing or selling of goods provided or belonging to the emporia/shops, is liable to Service Tax under the category of ‘Business Auxiliary Service...

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Disallowance cannot be made by mere intimation U/s. 143(1)(a)

Bajaj Auto Finance Ltd. Vs CIT (Bombay High Court)

Bajaj Auto Finance Ltd. Vs CIT (Bombay High Court) While mere making of provision for bad debts will not by itself (on application of amended law) entitle the party to deduction, yet it would be a matter where the assessee should be given an  opportunity to establish its claim. This by producing its evidence of the manner in which i...

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How to change mobile number or email id in GST portal within 10 seconds

Hello Friends, I am here to solve one easy problem as how to change the mobile number or email id on the GST portal. 1. If Authorised signatory is the same person who is also the proprietor or partner of the business then:- a. Login & Click Registration tab & Select Non Core amendment. b. […]...

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Posted Under: Income Tax |
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