Hon’ble Bombay High Court (HC) held that the transfer pricing officer (TPO) cannot suo-motu assume jurisdiction to determine the arm’s length price (ALP) of specified domestic transactions (SDT) not referred to him.
Atria Convergence Technologies Ltd Vs Union of India (Karnataka High Court) The Rule 120A provides for revision of declaration. In the event of the registered person who had submitted a declaration electronically in FORM GST TRAN-1, intends to revise such declaration once, this provision can be invoked. This provision makes it clear that the revision […]
Allahabad High Court directs GST council to address petitioner’s issue with filing GST Tran-1, allowing manual submission if portal issues persist.
Synergy Fertichem Pvt.Ltd Vs State of Gujarat (Gujarat High Court) In the present case, the show cause notice dated 01.03.2019 has been issued under section 130 of the CGST Act calling upon the petitioner to show cause as to why the goods in question as well as the vehicle should not be confiscated for non-payment […]
M/s. Atria Convergence Technologies Ltd Vs Union of India (Karnataka High Court) Court is of the considered opinion that the petitioner is entitled to revise or rectify the errors in the FORM GST TRAN-1 in terms of Rule 120A wherein the Commissioner is empowered to extend the time period specified in Rule 117. As the […]
Pr. CIT Vs. Macquarie Global Services Pvt. Ltd. (Delhi High Court) The respondent-assessee had set up a new unit in Special Economic Zone (SEZ) income from which was claimed as exempt under Section 10AA of the Act for a period of ten years commencing from the Assessment Year 2010-11. Exemption was allowed in the Assessment […]
Pr. CIT Vs Jubilant Energy Nelp-V- Pvt. Ltd. (Delhi High Court) Money received by the respondent-assessee under the ICDs of Rs. 55.30 Crores was in the preceding year. Rs. 50 Crores was thereafter transferred and given as ICDs to M/s Jubilant Enpro Private Limited also in the preceding year. There was a nexus between the […]
Amount received by letting out the shop rooms in the mall is business income taxable under the head Profits and gains of business.
Precilion Holdings Limited Vs DCIT (Bombay High Court) Conclusion: AO was not permitted to reopen assessment merely because in the later year, he took a different view on the basis of similar material available at the time of original scrutiny assessment as there was no failure on the part of assessee to disclose truly and […]
Bharti Infratel Limited Vs DCIT (Delhi High Court) Conclusion: Notice for re-assessment issued under Section 148 against assessee-company was quashed as assessee had made full and true disclosure of material facts; nothing was concealed, withheld and left to be factually discovered in the form of ‘material’ mentioned in detail in accounts and other evidence and […]
