Saurabh Suryakant Mehta Vs ITO (Bombay High Court) In the present case, the Assessing Officer had examined the material collected by the Sales Tax Department, prima facie suggesting that the assessee had indulged into bogus billing activities without actually carrying out the purchase and sale of the commodity. It is on this basis that the […]
Pr. CIT Vs Tops Security Ltd. (Bombay High Court) Section 43B does not contemplate liability to pay service tax before actual receipt of the funds in the account of the assessee. Hence the liability to pay service tax into the Treasury will arise only upon the assessee receiving the funds and not otherwise. Thus the […]
Meghraj Moolchand Burad Vs Directorate General of GST (Intelligence) (Bombay High Court) The learned counsel appearing for the Investigating Agency has produced on record a letter dated 26.11.2018 addressed by Advocate on record of the applicant to the DGGI, Pune informing him that, the present matter was on board before this Court on 24.11.2018 at […]
Section 40(a)(ia) can be applied only when amount sought to be disallowed has been claimed as an expenditure/deduction. In absence of the amount having been claimed as expenditure while determining the income, dis allowance would not be attracted.
Transfer Pricing provisions on shares purchased at value in excess of FMV was not applicable as the same could only be invoked to bring to tax any income arising from an international transaction.
Deepak Fertilizers And Petrochemicals Corporation Limited Vs Add. CIT (Bombay High Court) HC held that we do not think that there is any justification for the Deputy Commissioner of Income Tax, Central Circle 8(1) to threaten the appellant/applicant with any prosecution. Even if such prosecution under section 276C is launched, the same shall not proceed […]
M. Suresh Company Pvt Ltd Vs Pr. CIT (Bombay High Court) 1. This Motion is taken by the appellant assessee in Income Tax Appeal No. 738 of 2016. The appeal arises out of a judgment of the Income Tax Appellate Tribunal confirming penalty against the assessee under Section 271(1)(c) of the Income Tax Act, 1961. […]
Vembu Vaidyanathan Vs Pr. CIT (Bombay High Court) During the course of assessment the Assessing Officer examined this claim and came to the conclusion that the gain arising out of sale of capital asset was a short term capital gain. The controversy between the assessee and the revenue revolves around the question as to when […]
Assessee was not entitled to claim redemption fine as business expenditure under Section 37 as the same was for the infraction of law committed by assessee.
Pr. CIT Vs M/s. Starflex Sealing India Pvt. Ltd. (Bombay High Court) Held- Court requested revenue that the State takes a consistent view and does not agitate matters on which the Court has already taken a view, without pointing out the earlier order of this Court to the subsequent Bench. Court’s endeavor is only to […]
