Delay of three years in filing of application for registration under section 12A was condonable as assessee which was enjoying exemption from income-tax from its inception was suddenly faced with the prospect of being made liable under the taxing statute and due to same, assessee had filed applications under Section 12AA with considerable delay.
I reckon the petitioner has exercised on time its statutory remedy of filing an appeal. It appears that it has also filed a stay petition. Procedural fairness demands that the authorities may wait, before taking further steps, until the appellate authority decides on the stay petition.
Deduction under section 35D for amortisation of preliminary expenses in connection with the issue of shares for public subscription was allowable to assessee bank extending financial services.
The word reasonable has in law prima facie meaning of reasonable in regard to those circumstances of which the person concerned is called upon to act reasonably knows or ought to know as to what was reasonable. It may be unreasonable to give an exact definition of the word reasonable.
It was held that Amount received by assessee from his father out of sum received by father for transfer of mining lease right to a Company in which assessee was shareholder cannot be treated as deemed dividend income of the assessee under section 2(22)(e) as sum was not received on behalf of Assessee and it was for a commercial transaction.
S/S Patel Hardware Vs Commissioner (Allahabad High Court) Keeping in mind the fact that the delay in filing the appeal may not be condoned beyond the period of one month from the expiry of period of limitation, the phrase “communicated to such person” appearing in Section 107(1) of the Act commend a construction that would […]
AAP And Co., Chartered Accounts Vs. Union of India (Gujarat High Court) Press release for Form GST-3B changing last date for credit challenged: Gujarat High Court issues notice to Centre, GST Council and State Petitioner chartered accountant firm “AAP & Co.” challenged the Press release dated 18.10.2018 to the extent that the last date for […]
Jagannath Dey Vs Mrinal Mallik S/o Gourchandra Mallik (High court Chhattisgarh) 1. Learned counsel appearing for the appellant would seek permission of the Court to withdraw this appeal with liberty to move a fresh suit under the provisions of the Guardians and Wards Act, 1890 seeking custody of the minor. 2. In Shiv Kumar Sharma v […]
Transfer of patent rights would be subject to CST as while transferring of intangible rights obtained under a statute, to another entity having its place of business in another State; from where the transferee intended to exercise such rights thereafter, postulated a movement of the intangible, corporeal goods from one State to another and, hence, would be an inter-state sale assessable to tax.
M/s. Lal Products Vs Intelligence Officer (Kerala High Court) Hon’ble Kerala High Court had an occasion to determine the situs of sale of incorporeal goods namely, patents and trademarks when the contract of sale was executed by the Appellant in the state of Gujarat where they had one operating manufacturing plant while the HO of […]
