Michael E Desa Vs ITO (ITAT Mumbai) Undoubtedly, when the object of a contract is illegality or something which would frustrate the law, such a contract will be void, but then minimisation of tax liability, as long as it is through legitimate tax planning and without using colourable devices, is not at all illegal; it […]
Moserbaer India Ltd. Vs DCIT (ITAT Delhi) Section 238 of IBC 2016 will have overriding effect over all other Central and State statutes including the Income-tax Act and all the claims including claim of the Income-tax Department under the Income-tax Act, 1961 shall be entertained by the Official Liquidator u/s 53 (1) of the Code. […]
Jai Balaji Industries Limited (Unit IV) Vs Commissioner of Central Excise, Customs & Service Tax (CESTAT Kolkata) When we apply the user test to the case in hand, we find that the structural steel items have been used for the fabrication of support structures for capital goods. The appellants have argued that the various capital […]
ACIT Vs National Accreditation Board for Testing and Calibration (ITAT Delhi) Expression ‘charitable purpose’, as defined in section 2(15) cannot be construed literally and in absolute terms. It has to take colour and be considered in the context of section 10(23C)(iv) of the said Act. It is also clear that if the literal interpretation is […]
Rules 3(2)(b) and 4(2)(c) of the Rules of 2020 prescribing a minimum experience of not less than 20 years for appointment of President and Members of State Commission and experience of not less than 15 years for appointment of Presidents and Members of District Commission, are unconstitutional and violative of Article 14 of the Constitution of India.
Historical Background The Indirect Taxation Enquiry Committee constituted in 1976 by Sri L.K.Jha, recommended inter alia, converting specific rates into ad-valorem rates, rate consolidation and input tax credit i.e. Mechanism of Value Added Tax at manufacturing level (MANVAT). In principle, duty was payable on value addition. Advent of GST Before advent of GST, the most […]
P. K. Bhawmick Vs Abhratosh Mazumdar (Calcutta High Court) HC was not inclined to interfere with the impugned order of the Settlement Commission in this Writ Petition and dismissed the same for the following reasons: i) Petitioner/Income Tax authorities have failed to make out any case in this Writ Petition that the learned Settlement Commission […]
In re Mr. Sundaresh Bhat Liquidator of ABG Shipyard Limited (NCLAT Delhi) When in an auction somebody has given a higher bid, if instead of 15 days, the person gets a breathing time of 90 days to make a payment, no other person gets affected. We have seen the Discussion Paper referred to by the […]
Jayesh N. Sanghrajka Vs The Monitoring Agency nominated by the Committee of Creditors of Ariisto Developers Pvt. Ltd. (NCLAT Delhi) Appellant claiming that he had done excessively well to deserve Rs. 3 Crores of success fees, the Adjudicating Authority had made comments as to what was the scenario when it was supervising the CIRP. We […]
Newslaundry Media Pvt. Ltd. & Anr. Vs Director General of Income Tax (Delhi High Court) Mr. Digvijay Singh, DDIT (Investigation), states that the seized material is in safe custody of the Income Tax Department and it shall be used for the purposes of investigation and in accordance with law. Mr. Sharma, assures and undertakes to this […]
