Cushman And Wakefield India Private Limited Vs Union of India & Anr (Delhi High Court) The issue which falls for consideration is in a very narrow compass, whether a company, other than a subsidiary company, joint venture or associate of other company forms a separate class for the purpose of eligibility for registration as a […]
Practicing professionals are prohibited from acting as full time directors. They can only act as non-executive directors not performing administrative duties. Such persons cannot be prosecuted for offenses committed by the company. it will be a travesty of justice to prosecute all Directors if the offense is committed without their knowledge.
Observing that the provisions in the Customs Act were silent about demurrage, the High Court held that it is beyond the legislative powers to include demurrage charges in the rules for Customs valuation. Supreme Court judgements in Wipro ltd, Essar Steel Ltd. and Mangalore Refinery and Petrochemicals Ltd. were relied on.
Hetal Brijesh Ukani Vs ACIT (Gujarat High Court) The notice under section 148 of the Act, which is a jurisdictional notice, has been issued to a dead person. Upon receipt of such notice, the legal representative has raised an objection to the validity of such notice and has not complied with the same. The legal […]
Where an assessment order not in tuned with the law laid down by a binding precedent, it would amount to an error apparent on the record for the purpose of invoking rectification under section 154.
The Pr. CIT Vs M/s. Talwalkars Fitness Club (Bombay High Court) Mere fact that an agreement for sale of property is registered does not make it a conveyance. The sale or transfer U/s. 2(47) of Income Tax Act, 1961 not completes on the date of the execution of the agreement if there are obligations to […]
Non-compete fee received by assessee for signing of negative covenant for not carrying out a speciality business did not amount to transfer of right to carry on business, the consideration of which was liable to be taxed as capital gain.
Meinhardt Singapore PTE. Ltd. Vs Commissioner of Service Tax (Delhi High Court) Whatever be the constraint, the assessee was faced with, it was duty bound to remit amounts collected by it towards service tax, in a planned manner, and as required by law. The deposit belatedly, by it, on the ground that the amounts were […]
Where AO had failed to issue notice under section 143(2) before completion of assessment, addition made under section 68 during reassessment proceedings was deleted because issuance of notice under section 143(2) is a mandatory obligation on the part of AO.
PR. CIT Vs Green Delhi BSQ Ltd. (Delhi High Court) The respondent-assessee was to construct, operate and maintain bus shelters. The respondent-assessee was also under an obligation to pay Rs.4.09 crores per month to the Delhi Transport Corporation. The shelters were not owned by the respondent-assessee. The Central Board of Direct Taxes vide Circular No. […]
