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Archive: June, 2024

Posts in June, 2024

No section 271B penalty if reasonable cause exist or if assessee establishes its bonafides

June 13, 2024 996 Views 0 comment Print

Read the full text of the order from ITAT Agra where penalty u/s 271B was deleted for Tasavver Husain vs ITO. Detailed analysis and conclusion provided.

GST Appeal can be accepted after one month from prescribed limitation period: Calcutta HC

June 13, 2024 708 Views 0 comment Print

Learn how the Calcutta High Court in Sushil Kumar Hazra v. State of West Bengal addressed the acceptance of appeals after the limitation period, citing medical reasons for condoning delay.

Sections 129 and 130 of CGST Act, 2017 are Independent of each other & Mutually Exclusive

June 13, 2024 561 Views 0 comment Print

Explore the legal battle between A.Z. Enterprises and Deputy Assistant Commissioner under CGST Act, 2017. Detailed analysis of detention, confiscation, and auction proceedings.

Non-compete fees is capital receipt till A.Y. 2002-03: ITAT Mumbai

June 13, 2024 216 Views 0 comment Print

Discover the landmark case of ACIT vs. Lyka Labs Ltd. ruling non-compete fees as ‘revenue receipt’. Detailed analysis and implications discussed.

Section 270AA Penalty Immunity Application Cannot Be Rejected on Insufficient Grounds or Vague SCNs

June 13, 2024 486 Views 0 comment Print

Delhi High Court judgment on GE Capital vs. DCIT, distinguishing under-reporting and misreporting as separate offenses, resulting in quashed penalty. Full text analysis.

Existence of Assessment Required for Reassessment under Section 40, Assam VAT Act, 2003

June 13, 2024 465 Views 0 comment Print

Gauhati High Court nullifies reassessment under Section 40 of Assam VAT Act for 2009-2010 citing late filing of returns and exceeding assessment limitation.

Madras HC directs Bar Council to Ensure Minimum Stipend for Junior Lawyers 

June 13, 2024 303 Views 1 comment Print

Madras High Court emphasizes on paying minimum stipend to junior lawyers, citing it as fundamental rights violation. Detailed analysis & judgment here.

Interest on refunded principal amount, deposited in auction sale is capital receipt

June 13, 2024 330 Views 0 comment Print

In PCIT Vs Ins Finance & Investment P Ltd., Delhi High Court ruled that interest on amount not considered compensation is capital receipt, not taxable.

Suppressing Material Facts Is Just Jugglery Not Advocacy’: J&K HC

June 13, 2024 351 Views 0 comment Print

J&K High Court’s landmark ruling states suppression of material facts in legal cases is jugglery, not advocacy, emphasizing transparency in judicial proceedings.

Pages of Minutes Book not numbered: MCA Imposes Penalty

June 13, 2024 339 Views 0 comment Print

Explore the adjudication order imposing penalties on GD Design & Packaging Private Limited for violations under Section 118 of the Companies Act, 2013. Understand the implications and appeal process.

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