"15 August 2022" Archive

Selective disclosure by SEBI amounts to cherry-picking which derogates commitment to fair trial: SC

Reliance Industries Limited Vs Securities and Exchange Board of India (Supreme Court)

Held that SEBI could not have claimed privilege over certain parts of the documents and at the same time, agreeing to disclose some part. Such selective disclosure cannot be countenanced in law as it clearly amounts to cherry­picking....

Read More

Addition of cash deposited in bank post demonetization due to cash sales unsustainable

Charu Aggarwal Vs DCIT (ITAT Chandigarh)

Charu Aggarwal Vs DCIT (ITAT Chandigarh) Held that cash sales made by the assessee which was deposited in the bank post demonetization is sufficient source of cash deposited. Addition of the same unsustainable. Facts- A notice u/s 153A was issued to the assessee post search operation. Thereafter, the assessee filed its ROI declaring an in...

Read More

Benefit given to importer as dept failed to substantiate allegation of undervaluation

Jeen Bhavani International Vs Commissioner of Customs (CESTAT Mumbai)

Held that no iota of evidence was submitted by Revenue regarding under valuation of goods and hence benefit given to the appellant....

Read More

Dispute settled under VSV Scheme cannot be pursued in Appeal

Sanjay Subhashchand Gupta Vs ACIT (ITAT Mumbai)

Since the tax dispute for the year under consideration has been settled under VSV Scheme, therefore, it is not open to the assessee to pursue the legal remedy of appeal as well....

Read More

Search Posts by Date

September 2022