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Archive: 15 January 2022

Posts in 15 January 2022

Live Webinar with Book on Section 43B(h) (Financial Fitness)

April 25, 2024 2850 Views 0 comment Print

Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down intricacies of Section 43B(h)

Sitting of the NCLT Benches for the period 17.01.2022 to 31.01.2022

January 15, 2022 690 Views 0 comment Print

The present mode of virtual hearing and e-filing will continue as per the earlier notification dated 31.12.2021 and 09.01.2022. Now based on the suggestion given by the Members, Officers/staff of the Registry and Members of the legal fraternity Pan India the hearing of cases will be limited to urgent matters which require immediate orders.

Internal TNMM preferred over external TNMM considering a higher degree of comparability

January 15, 2022 2406 Views 0 comment Print

Neilsoft Private Limited Vs DCIT (ITAT Pune) This appeal by the assessee is directed against the final assessment order dated 13-04-2021 passed by the Assessing Officer u/s 143(3) r.w.s. 144C(13) r.w.s. 143(3A) & 143(3B) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) in relation to the assessment year 2016-17. 2. The only […]

Kerala HC set-aside rules 9(4A) &  9(4C) prescribing fixation of Property Tax at a minimum of 25%  over & above the tax levied for previous year 

January 15, 2022 5592 Views 0 comment Print

K.P. Muhammed Ashraf Vs Taliparamba Municipality (Kerala High Court) The petitioner, who is owner in possession of a building in Taliparamba Municipality, seeks to declare that Rule 9(4A) and Rule 9(4C) of the Kerala Municipality (Property Tax, Service Tax and Surcharge) Rules, 2011 which prescribes fixation of Property Tax at a minimum of 25% over […]

HC allowed release of cash seized in full to Income Tax Dept

January 15, 2022 5616 Views 0 comment Print

Union of India Vs State of Kerala (Kerala High Court) It is true that even while dismissing the application submitted by the petitioner herein, the learned Magistrate ordered to retain 30% of the amount for securing the interest of the Income Tax Department. Apparently, an amount of 30% was fixed under the impression that the […]

Fake ITC availment: HC grants bail to accused

January 15, 2022 1245 Views 0 comment Print

Rohit Berlia Vs The Intelligence Officer (Orissa High Court) In the instant case, the petitioner was arrested on 08.2021 for an offence punishable under Section 132(1)(c) CGST Act, 2017 having availed fake ITC by the firm M/s. Arshee Ventures during the period from July, 2017 to March, 2019. As is made to understand, the business […]

Appellant not allowed to somersault after passing of Final Order under the garb of rectification

January 15, 2022 972 Views 0 comment Print

A.V. Agro Products Ltd. Vs Commissioner of Customs & Central Excise (CESTAT Delhi) It is held that vide the impugned application, the appellant is trying to bring a new case despite that his grievances have been settled not once but on several other occasions where he himself has admitted him to have same facts as […]

HC se-aside corruption charges for 6 years delay in filing charges sheet

January 15, 2022 9336 Views 0 comment Print

Bhupendra Pal Singh Vs Union of India (Bombay High Court) that there being no valid and acceptable explanation for the delay of almost 6 (six) years in issuance of the charge-sheet coupled with the fact that the petitioner attained the age of superannuation on November 30, 2011, it would be just and proper and in […]

SEBI order against Share Tips via social media platforms/Telegram

January 15, 2022 10311 Views 0 comment Print

In Re Stock Recommendations using Social Media Channel (Telegram) (SEBI) despite taking all possible steps by SEBI like the one stated above, the miscreants always try to create a bypass to the Regulatory fence to implement their malicious schemes to earn unlawful gains. Like in the present case, the application of Telegram which is essentially […]

Annual Information System and SFT transactions Shown on Tax Payers individuals portal

January 15, 2022 20592 Views 12 comments Print

Annual Information System is Government New Experience   introduction replacing in future Form 26 AS. Form 26 AS is Xray of Tax payers and ASI can be called MRI of Tax Payers. Many Pros and Cons are regularly being reported by the Tax Payers So Government of India in a Press Release declared that the AIS […]

HC cancels summon under GST as Petitioner was co-operating

January 15, 2022 10557 Views 0 comment Print

HC set aside the summons issued by the Revenue Department without any details of the inquiry, wherein the assessee was co-operating in furnishing the documents as requisitioned and to provide further details. Held that, summons is a last resort and are not to be issued in a casual manner.

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