"28 March 2021" Archive - Page 2

ITAT deletes addition made merely based on exparte Ad-Interim order of SEBI

Tapas Kumar Mallick Vs ACIT (ITAT Delhi)

Tapas Kumar Mallick Vs ACIT (ITAT Delhi) A perusal of the assessment order clearly shows that the Assessing Officer was carried away by the report of the Investigation Wing and the exparte Ad-Interim order of the SEBI. It can be seen that the entire assessment order has been framed by the Assessing Officer without conducting […]...

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Section 11B Limitation period for refund of tax starts from date of reversal

Pujan Builders Engineers & Contractors Vs C.C.E. & S.T. (CESTAT Ahmedabad)

Pujan Builders Engineers & Contractors Vs C.C.E. & S.T. (CESTAT Ahmedabad) The facts in the present case is not under dispute that the appellant have paid the excess service tax during the quarter April to June, 2017, however, the appellant under bona fide belief transferred the said excess paid service tax into their TRANS-1 as [...

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Operational Creditor should demonstrate its Claim to be treated as Operational Debt under IBC

Kripa Cashew Exports Vs Royals International Trade And Allied Products Pvt. Ltd. (NCLT Kerala)

Kripa Cashew Exports Vs Royals International Trade And Allied Products Pvt. Ltd. (NCLT) In the present case, the first point which arises for consideration is whether the debt falls within the purview of Operational Debt under Section 5 (21) of the I&B Code,2016? To arrive at a decision, this Tribunal has gone through the judgement [&...

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Posted Under: Income Tax | |

High Turnover Company cannon be compared with Low Turnover Company

Zynga Game Network India Pvt. Ltd. Vs DCIT (ITAT Bangalore)

Zynga Game Network India Pvt. Ltd. Vs DCIT (ITAT Bangalore) We note that Ld.AO/TPO has applied filter of more than Rs. 1 crore, but did not put an upper limit to the filter. This Tribunal in case of Genesis Integrating Systems India Pvt Ltd vs DCIT reported in (2012) 53 SOT 159 and various other […]...

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Voluntary Section 12A registration cancellation application- ITAT explains date of applicability

R.D Tata Trust Vs PCIT (ITAT Mumbai)

R. D Tata Trust Vs PCIT (ITAT Mumbai) We are of the considered view that the impugned order of cancellation of registration granted to the assessee under section 12A must be held to be effective from the date on which the hearing on first show-cause notice was concluded and the show cause notice issued by […]...

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Deduction of Cess not claimed earlier in return: ITAT remits issue back to AO

Sulzer Pumps India Limited Vs DCIT (ITAT Mumbai)

Sulzer Pumps India Limited Vs DCIT (ITAT Mumbai) As mentioned earlier, for the year under consideration, the assessee has paid a sum of Rs.51,28,703/- as Cess in the return filed by it. It did not claim the amount paid, as deduction in the return filed by it for AY 2012-13. However, in the light of […]...

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Cenvat Credit cannot be denied on mere Presumptions

Nayara Energy Limited Vs C.C.E. & S.T.-Rajkot (CESTAT Ahmedabad)

Nayara Energy Limited Vs C.C.E. & S.T. Rajkot (CESTAT Ahmedabad) We find that the adjudication authority in respect of most of the services denied the credit on the ground that no evidence was produced by the appellant to prove that the services was availed by the appellant and also on the ground that there is […]...

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NCLT has limited jurisdiction in approval of resolution plan under IBC: SC

Jaypee Kensington Boulevard Vs NBCC (Supreme Court India)

Jaypee Kensington Boulevard Apartments Welfare Association & Ors. Vs. NBCC (India) Ltd. & Ors. (Supreme Court ) For what has been discussed and held on the relevant points for determination, our findings and conclusions are as follows: A. The Adjudicating Authority has limited jurisdiction in the matter of approval of a resolution...

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Sanction of GST refund struck due to mismatch between GST & ICEGATE portal data: HC

Rameswar Udyog Pvt. Ltd. Vs Union of India (Gujarat High Court)

Certain errors were made while furnishing the details outward supplies in the Form GSTR-1 on account of which there was a mismatch between the GST portal data and data on the ICEGATE customs portal and hence, the refund of the IGST was not granted for the month of July, 2017....

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Make Rajasthan Real Estate Appellate Tribunal operational by 1.4.2021: HC

Nipun Singhvi Son Vs State of Rajasthan (Rajasthan High Court)

Nipun Singhvi Son Vs State of Rajasthan (Rajasthan High Court) 1. This writ application has been filed seeking directions to respondent State alleging inaction by the respondent State in constituting and establishing the Rajasthan Real Estate Appellate Tribunal, Jaipur under Section 43 of the Real Estate (Regulation and Development) Act, ...

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