It appears that after completing the assessment the assessing officer addressed the PCIT stating that certain error has occurred in the assessment order and requested him to review the order under section 263 of the Act.
Calcutta High Court held that an arbitrator cannot shun away his responsibilities and leave the work of quantification of awarded interest on chartered accountant. Accordingly, held that arbitration award suffers infirmity.
Dinesh Kumar Goyal Vs Union of India (Calcutta High Court) The Court :- This intra-Court Appeal by the writ petitioner is directed against the order dated 5th September, 2022 in WPO 2442 of 2022. In the said writ petition the appellant had challenged an order passed by the assessing officer under Section 148A(d) of the […]
Calcutta High Court held that cenvat credit of service tax paid to the commission agent is available, as the commission so paid is included in the assessable value of the final product.
AI Champdany Industries Limited Vs Commissioner (Calcutta High Court) Hon’ble Supreme Court in the case of COMMISSIONER OF INCOME TAX VS. MAX INDIA LTD. 2007 295 ITR 282 (SC) had taken note of the fact that Section 80HHC had been amended eleven times and different views existed on the day, when the COMMISSIONER (therein) passed […]
High Court held that reasons provided to the petitioner did not contain any information but it is titled as ‘cash related information detail’ and such information cannot be said to be sufficient for reopening of the assessment.
Whether authorities justified in imposing tax & penalty on the ground that, at the time of interception, validity period of E-Way bill stood expired
Kunjal Synergies Private Limited Vs Principal Commissioner of Customs (Calcutta High Court) Facts, in short, are that the petitioner has approached this Writ Court for release of the goods in question provisionally under Section 110A of the Customs Act, 1962 on the basis of the order of the Appellate Authority ordering for release of the […]
PCIT Vs Arshia Global Tradecom Private Limited (Calcutta High Court) In the case on hand the reassessment proceedings, the assessee was unable to justify the genuineness of the transactions. The assessee failed to produce original cash memos and bills for the sales alleged to have been effected and to substantiate the cash deposit into their […]
PCIT-4 Vs Krishi Rasayan Exports Pvt. Ltd (Calcutta High Court) Whether the interest subsidy and excise refund would be treated as capital receipt or revenue receipt for the purpose of computation of book profit under the provision of Section 115JB of the Income-Tax Act, 1961 ? Identical issue was also considered by this Court in […]
