Qualcom Technologies Inc. Vs DCIT (ITAT Delhi) ITAT held that Considering the assessment order of the AO wherein he has followed the findings given in earlier assessment years and considering the fact that the same agreement is being carried on since A.Y.2005-06, we do not find any reason in differing with the view taken by […]
A Limited Liability Partnership (LLP) can be said to be a hybrid of the Company and a partnership firm. It provides for the advantages of both. At the time of incorporation, the Limited Liability Partnership is required to submit the details of its registered office. It might be the possibility that the partners intend to […]
Govt of India introduced the Grand Fathering principle in the Indian Income tax Act for the purpose of safeguarding the Unrealised Profit earned by the Assesses upto 31-01-2018. In order to achieve this objective, the Actual Cost of Acquisition of the securities together with the unrealised profit is to be treated as Revised Cost of Acquisition as at 31-01-2018.
Royal Western India Turf Club Vs PCIT (ITAT Mumbai) Undisputedly, the original assessment in case of the assessee was completed under section 143(3) of the Act on 06-02-2014. Subsequently, the assessment was reopened under section 147 of the Act and notice under section 148 of the Act was issued to the assessee on 26-03-2018. The […]
Avon Udhyog Vs State of Rajasthan (Rajasthan High Court) Suspension of a registration of an assessee has its own consequences – it brings the entire business of an assessee to a stand still. In a way it is worse than cancellation. Against cancellation, an assessee can take legal remedies but against suspension pending an enquiry, […]
So-Hum Trading Company Vs Commissioner of Customs (CESTAT Kolkata) We find that the Appellant was not availing any benefit in terms of the Exemption Notification and there was no occasion for confiscation of the live goods under Bill of Entry No.2321708 dated 05.07.2017 as the letter dated 16.07.2017 shows that the Country of Origin Certificate […]
Brightpoint India Pvt. Ltd. Vs Commissioner of Customs Mumbai (Air Cargo Import) (CESTAT Mumbai) The Revenue against the sanction of the refund which arose out of re-assessment of the Bills of Entry, filed appeal before the Commissioner (Appeals), and the Commissioner (Appeals) accepted the appeal by holding that since the appellants have not filed appeals […]
Javed Akhtar Vs CCGST, Mumbai West (CESTAT Mumbai) The issue involved in this Appeal is whether the appellant is entitled for refund of service tax paid under protest without challenging the assessment proceedings, which was held to be not payable by authorities concerned in an appeal of another assessee of the very same transaction? The […]
Tarakeswar Estate Vs Union of India & Ors. (Calcutta High Court) The petitioner has challenged the impugned assessment order dated 20th March, 2021 under Section 143(3) of the Income Tax Act, 1961 relating to assessment year 2018-2019, mainly on the ground of violation of principle of natural justice as well as total non-application of mind […]
CESTAT ruled that the proposal for confiscation and penalty cannot be segregated from duty demand and therefore the proceedings for confiscation and imposition of penalty cannot be sustained.
