South Indian Bank Ltd Vs Commissioner of Income Tax (Supreme Court of India) 1. For purposes of 14A, a presumption can be made that investments have been made out of interest free funds even when there are mixed funds and there is no bifurcation in books of accounts for interest expense. 2. It needs to […]
GST Council & FM: CBIC cannot have the prerogative to cheat the assessee by manipulative interpretation The bureaucracy in CBIC is only required to implement the law laid down by the Parliament & not to indulge in manipulative interpretation to deprive the assessee of the legitimate entitlements. The C. Ex. Regime was replaced by the […]
Regulation 3 of SEBI (PIT) Regulation 2015 deals with communication or procurement of unpublished price sensitive information (UPSI). As per Regulation 3(1) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, no insider shall communicate, provide, or allow access to any unpublished price sensitive information, relating to a company or securities listed or proposed to be listed
Madurai Kamaraj University Vs Joint Commissioner (Madras High Court) In Madurai Kamaraj University v. Joint Commissioner GST and Central Excise [W.P.(MD) No.20502 of 2019 and W.M.P.(MD) No.17152 of 2019 dated August 16, 2021], Madurai Kamaraj University (the Petitioner) has sought for a writ of Certiorari for quashing of the records on the file of Joint […]
हाल में ही भारतीय प्रतिभुति एवं विनिमय बोर्ड- सेबी ने 85 कम्पनियों के शेयरों की ट्रेडिंग पर रोक लगाई है जिसमें प्रमुख नाम- सनराइज़ एशियन और कोरल हब लिमिटेड का हैं. इन कम्पनियों पर आरोप है कि इन्होंने शेयर के मूल्यों में हेरफेर और फर्जी बढ़त दिखाई थी. सेबी के इन आरोपों में जो महत्वपूर्ण […]
DCIT Vs Mahalaxmi TMT Pvt. Ltd. (ITAT Pune) AO found that the assessee company was established dated 10 August 2004 i.e. during the financial year 2004-05 corresponding to the assessment year 2005-06 and it did not carry out any business activity till the year under consideration. Conversely, it has issued shares at a premium of […]
Pooja Singla Builders And Engineers Private Limited Vs National Faceless Assessment Centre & Ors (Delhi High Court) 1. In the matter of assessment for assessment year 2018-19 dated 7.4.2021 framed in violation of provisions of section 144B(1)(xvi)(b) of the Income Tax Act, 1961. 2. The assessment is set aside for allowing fresh opportunity to assessee. […]
Whether the managerial and leadership services provided by the Registered/Corporate Office to its Group Companies can be considered as ‘supply of service’, in terms of Section 7 of CGST Act, 2017?
Bhupendra Ramdhan Pawar Vs Vidarbha Irrigation Development Corporation (Supreme Court of India) 1. If the land value had been determined with reference to the sale statistics or compensation awarded for a nearby vacant land, then necessarily, the trees will have to be valued separately. 2. But if the value of the land has been determined […]
Charitable Institutions which are registered under section 12AA of the Act can claim exemptions under section 11 of the Act when conditions are become fulfilled. While Section 11 is a general provision and applicable to all charitable institutions, Sec 10(23C) is a specific exemption provision applicable to certain Government and Non-Government educational institutions.
