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Extension of Due date for TAR & IT Returns- Gujarat HC fixes next hearing on 31.12.2020

December 30, 2020 61455 Views 9 comments Print

Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) Gujarat High Court heard petition for extension of due dates in TAR and ITR for A Y 2020-21 on today. Court issued notice and fix next hearing on tomorrow. FULL TEXT OF THE HIGH COURT ORDER/JUDGEMENT Heard Mr. S. N. Soparkar, learned Senior […]

HC direct banks to maintain Classification of Accounts of RCOM & its subsidiary

December 28, 2020 717 Views 0 comment Print

Punit Garg & Anr Vs Union Bank Of India & Ors. (Delhi High Court) 1. Issue notice. Mr. O. P. Gaggar, Advocate accepts notice for R-1 and Mr. Shantanu Tyagi, Advocate accepts notice for R-4 and R-5. On steps being taken, notice be issued to the respondent No.3/RBI through all permissible modes including Dasti Service. […]

HC directs IT dept to Refund Seized Cash with 12% interest

December 28, 2020 3297 Views 0 comment Print

Telangana High Court held that the action of the respondents in conducting panchanama dt.28.08.2019 and seizing cash of Rs.5.00 crores from Vipul Kumar Patel, employee of the petitioner in W.P.No.23023 of 2019, and retaining it till date, is illegal and ultra vires the provisions of the Income Tax Act, 1961 and also violative of Art.14

HC explains invocation of Rule 86A for blocking ITC

December 24, 2020 10035 Views 0 comment Print

S. S. Industries Vs Union of India (Guajrat High Court) I) The invocation of Rule 86A of the Rules for the purpose of blocking the input tax credit may be justified if the concerned authority or any other authority, empowered in law, is of the prima facie opinion based on some cogent materials that the […]

Failure to pass draft assessment order U/s. 144C(1) invalidates final assessment order

December 24, 2020 10173 Views 0 comment Print

PCIT Vs Headstrong Services India Pvt. Ltd. (Delhi High Court) It is now settled law that failure to adhere to the mandatory procedure prescribed under Section 144C of the Act would vitiate the entire proceedings and the same cannot be treated as an irregularity/ curable defect. In ESPN Star Sports Mauritius S.N.C. ET Companies vs. […]

Gujarat HC directs Central Govt to ‘re-Look’ into Definition of ‘Textile’

December 24, 2020 1128 Views 0 comment Print

CTM Technical Textiles Ltd Vs Union of India (Gujarat High Court) Both the goods in question are being manufactured by the writ-applicants by weaving; it being warp knitting in case of the Agro Shade Net and weaving by warp and weft in case of the Geo Grid fabrics. Both these commodities are in the nature […]

HC issued directions to Police for Complaints / FIRs filed on Economic Offences must be disposed of properly

December 24, 2020 4134 Views 0 comment Print

Respective officer was directed to dispose of complaints/FIRs filed in respect of economic offences and take appropriate action within a period of 15 days from the date of receipt of certified copy of the order passed today. 

Miscellaneous application filed within 6 Month of actual receipt of order is not barred by limitation

December 23, 2020 13074 Views 0 comment Print

ITAT has erroneously concluded that the miscellaneous application filed by the petitioner was barred by limitation under Section 254(2) of the Act inasmuch as the petitioner had filed the miscellaneous application within six months of actual receipt of the order.

Section 44AD not eligible on Interest/Remuneration Income of Partner from partnership firm

December 23, 2020 60144 Views 1 comment Print

Whether, on the facts and circumstances of the case, the Appellate Tribunal was right in law in holding that interest and salary received by the assessee from firms in which he was a partner cannot be construed as business income u/s. 28(v) and therefore not eligible for applying the presumptive interest rate of 8% under section 44AD of the Act? 

Refund amount collected as Stamp Duty on Bills of Entry filed for Import: HC

December 23, 2020 5556 Views 0 comment Print

Ramratna Wires Ltd. Vs State of Gujarat (Gujarat High Court) The issue raised in this writ application as regards the legality and validity of collecting the stamp duty on the Bills of Entry is no longer res-integra in view of the pronouncement of this Court in the case of State of Gujarat and others Vs. […]

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