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Archive: 01 January 2023

Posts in 01 January 2023

No SSI Exemption on Manufacture of Power Driven Pumps without BIS & ISI Certification

January 1, 2023 372 Views 0 comment Print

Admittedly the appellant’s product is not in conformation to BIS standard as specified in notification. They have not obtained any ISI certificate. Therefore, exemption of SSI notification 08/2003-CE as amended, is not admissible to appellant

Income Tax addition based on mere doubt and suspicion not sustainable

January 1, 2023 2103 Views 0 comment Print

Narender Kumar Vs ITO (ITAT Delhi) Undisputedly, in course of assessment proceeding, the assessee had explained the source of cash deposits in the bank account by stating that it was out of gift received from his grand-father Shri Phool Singh. The Assessing Officer, however, has rejected assessee’s claim as the notice issued under Section 133(6) […]

Objections by Corporate Debtor to Oppose IBC Section 9 Petitions Not To Be A Moonshine Defence

January 1, 2023 1326 Views 0 comment Print

Only question to be looked in Section 9 Application is as to whether the objection raised by the Corporate Debtor opposing claim of the Operational Creditor is not a moonshine defense.

Writ dismissed as order passed didn’t violated principles of natural justice

January 1, 2023 723 Views 0 comment Print

Kerala High Court dismissed the writ petition stating that the impugned order cannot be held to be in violation of principles of natural justice as the said order was preceded by a show cause notice and the petitioner was given an opportunity to reply to the same.

नए साल पर आयकर दायरा बढ़ने की उम्मीद

January 1, 2023 1554 Views 0 comment Print

वर्ष २०१४ से आयकर मुक्त सीमा जो एक मध्यम वर्गीय के लिए २.५० लाख रुपए प्रति वर्ष की बनी है, वह आज २०२२ में भी वैसी ही है. शायद सरकार को आज भी उम्मीद नहीं है कि करदाता ईमानदारी से टैक्स भरेंगे. ८ करोड़ करदाता में से मात्र १.५० करोड़ करदाता ही आयकर भरता है, […]

HC directs to decide on application for compounding of offence related to TDS

January 1, 2023 924 Views 0 comment Print

Hemant Nevandram Lalwani Vs ITO (TDS) (Bombay High Court) 1. A complaint u/s. 276B, r/w. section 278B of the Income Tax Act, 1961, relevant to the Financial Year 2016-17, has been filed and is pending before the Court of learned Additional Chief Metropolitan Magistrate’s 38th Court at Mumbai. The said complaint has been filed against […]

Mere change of opinion not based for reopening of assessment

January 1, 2023 570 Views 0 comment Print

Telangana High Court held that as all the material facts were fully and truly disclosed reopening of assessment on mere change of opinion is unsustainable in law.

Non-formation of GST Tribunal: Gujarat HC issues notice to Govt

January 1, 2023 1029 Views 0 comment Print

Firmenich Aromatics Production (India) Private Limited Vs Union of India (Gujarat High Court) 1. The petitioner is a private limited company, registered under the provisions of the Companies Act, 1956, is aggrieved by the action of the respondent authority in rejecting the refund claim of the petitioner vide order dated 29/07/2022 and upholding the refund […]

HC set-aside GST Registration cancellation order passed in violation of Rule 25

January 1, 2023 1113 Views 0 comment Print

Kpm Enterprises Vs The Commissioner, Delhi Goods And Service Tax & Ors (Delhi High Court) Appellant submit that alleged inspection by GST department, is in violation of the Rule 25 of 2017 GST Rules as the petitioner was not afforded any opportunity to be present at the site. Further, the respondent has also not uploaded […]

Keyman Insurance Policy premium is allowable business expenditure

January 1, 2023 1407 Views 0 comment Print

ITAT Mumbai held that a Keyman Insurance Policy provides for an insurance policy taken by a business organisation on the life of an employee and hence allowable as business expenditure.

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