A two-judge bench of the Bombay High Court, in The Commissioner of Income Tax, Valsad v. M/s. C. N. Builders & Developers held that the deduction under section 80-IB is available to the assessee- Builder, even if the construction is not according to the plan approved by the authorities.
Pendurthi Chandrasekhar Vs DCIT (Andhra Pradesh HC) Conclusion: AO was not justified in adding the amount of Rs. 73,00,000 to the account of assessee received from maternal aunt as the donor herself had given a confirmation letter clearly stating therein that she had transferred the amount and further declaring that she gave the said gift […]
Whether the CESTAT was right in holding that the assessee was not providing Management, Maintenance or Repair Service by collecting amount from prospective flat buyers, for maintaining the building, in the guise of deposits which is not returnable? Whether the CESTAT has erred in holding that assessee is providing statutory service and has rendered definition provided under Section 65(105)(zzg) of Finance Act as null and void by accepting that he is not providing Management, Maintenance or repair service by maintaining the building and collecting amount for that or not?
Pr. CIT Vs. Paramount Biotech Industries Ltd. (Delhi High Court) The proposal to reopen an assessment under section 147 of the Act is to be based on reasons to be recorded by the assessing officer. Such reasons have to be communicated to the assessee. However, merely because the assessee participates in the proceedings pursuant to […]
It is alleged by petitioner that despite the Petitioner having filed the TRAN-1 form on 24.11.2017 and the status after filing being FILED on GSTN Portal, the status of the form online was tampered on the GST portal from FILED to SUBMITTED at the end of GSTN which is an unauthorized, illegal, malafide and criminal act by a Private Limited Company GSTN which is online custodian of GST returns/records of the Union of India and State of Maharashtra having jurisdiction over the Petitioner in matter of assessment of GST.
V. Venkata Siva Kumar Vs Institute of Cost Accountants of India (Madras High Court) The petitioner seeks for a mandamus directing the first respondent to strictly comply with Sec 2(2) of Cost and Works Accountants Act 1959 as amended and desist from encroaching into the domains earmarked for the third respondent (Chartered Accountants) and further […]
M/s Global Agency Vs General Manger & Ors (Karnataka High Court) Unless a cause of action arises to the petitioner-assessee by an impugned action notice or order by the Respondents-Department, the academic questions raised by the petitioner-assessee cannot be determined under Article 226 of the Constitution of India. The writ petition found to be premature […]
Remedy under section 264 could not be treated as regular remedy by passing regular remedy of appeals. Where assessee preferred petition under section 264 deliberately avoiding availing of regular remedy, it was rightly rejected and therefore, writ petition was to be dismissed.
Delhi High Court has refuses to set aside re-assessment notice U/s. 147/148 issued by Income Tax Department to the partnership firm Sky Light Hospitality, in which Robert Vadra is a partner, in connection with the DLF- Sky Light Hospitality land deal.
If the IPL has resulted in all of us being acquainted and familiar with phrases such as Betting, fixing of matches, then, the RBI and the Central Government should at least now consider whether holding such tournaments serves the interest of a budding cricketer, the sport, the game itself.
