Bombay High Court confirms the right to travel abroad is a fundamental right under Article 21, ruling the Debt Recovery Tribunal lacks the legal power to restrict it.
PCIT Vs Smart Value Products And Services Ltd. (Himachal Pradesh High Court) In the present case, Appellate Authority as well as the Tribunal have carefully gone through the record of the case and have found that the Assessing Officer had computed monthwise and quarter wise trading account for enhancing the gross profit. The Assessing Officer […]
PCIT Vs Anmol Stainless Pvt. Ltd. (Calcutta High Court) We find from the order passed by the tribunal that the assessing officer has complied with the direction issued by the CIT(A) and has given effect to the order and no adverse finding has been recorded by the assessing officer and accordingly the addition was deleted. […]
Held that the mandate of Section 220(6) of the IT Act makes it very clear that once an appeal is filed within time in the prescribed format, the assessee will not be deemed as an ‘assessee in default’.
Raghav Industries Ltd. Vs Union of India (Madras High Court) Facts- The appellant is a manufacturer of synthetic and blended textile yarn made of duty paid raw material viz., polyester staple fiber or polyester viscose staple fibre. According to the appellant, as per the Government schemes, a manufacturer can either export the finished product without […]
Suresh Chand Gupta Vs State of Govt of NCT Delhi (Delhi High Court) Facts- The Director of Revenue Intelligence (DRI) filed a criminal complaint under Section 132 and 135 (1)(a) of the Customs Act, before the learned Trial Court. The complaint stated that intelligence reports have been received that M/s Elgin Electronics, of which petitioner […]
Inner Wheel Club of Central Calcutta Vs Union of India & Ors. (Calcutta High Court) HC directs Income Tax Authorities to consider Representations made on 25/03/2022 and subsequent dates and then pass Order under sec 148A(d). They have been also directed to give the assessee opportunity of hearing. FULL TEXT OF THE ORDER OF CALCUTTA […]
The petitioner shall be entitled for return of the surety bond and the bank guarantee furnished. If the petitioner, upon filing the appeal with the deposit as aforesaid, files with the first respondent, the details of the appeal and the deposit made, the first respondent shall within ten [10] working days from the date of receipt of such information, return the bank guarantee/surety bond furnished.
Tax authorities are to adjudicate upon the tax liability in accordance with law. The liability to taxation in respect of assessee should not escape assessee and likewise where the assessee was not in a position to show certain evidences which impacts the tax liability, reasonable opportunity should be afforded to such assessee to bring such evidences to the notice of the tax authorities.
No interest and penalty to be imposed if credit is merely availed but not utilised | Section 73 & 74 Interest will be attracted only if wrong/excess ITC availed & utilized
