In an attempt to eliminate fraudulent activities, the MCA issued the DIR-3 KYC form. It mandates that every director who has been assigned a Director Identification Number (DIN) as on 31st March of a financial year must submit their KYC details to the MCA.
ITAT Delhi held that presumption u/s. 132(4A) of the Income Tax Act is only against the person in whose possession the search material is found and not against any other person. Addition based on dumb documents without corroborative evidence is unsustainable in law.
Delhi High Court held that construing telephonic conversation of Officer with the proprietor as personal hearing is not acceptable. Hence, order passed thereon is in violation of principles of natural justice and also violation of statutory principles of the Central Goods and Services Tax Act (CGST Act).
ITAT Delhi held that the payments received by the assessee in view of architectural design services rendered to its clients in India are not chargeable to tax as FTS in terms of Article 12(4) of the India-Singapore DTAA.
ITAT Ahmedabad held that interest income earned by depositing surplus grants in a particular mode as per the directions of the State Government is also treated as part of the grants and hence it cannot be treated as income of the assessee.
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