Calcutta High Court held that by availing only 85% of credit on common input service, obligation under rule 6(2) of Cenvat Credit Rules, 2004 (CCR) is fulfilled.
Calcutta High Court held that mere usage of foreign word does not make it automatic to fall within the ambit of an international transaction.
J. K. Jain Buildtech India Pvt. Ltd. Vs Assistant Commissioner (Calcutta High Court) The principal ground on which the petitioner was defeated before the appellate authority was that the petitioner could not produce the relevant invoices in physical form. Mr. Sandip Choraria, learned counsel appearing for the petitioner referring to Rule 138A of the Central […]
Sandeep Kabra Vs Bureau of Immigrations (Calcutta High Court) Whether suspended directors of a company who are guarantors can be restricted from travelling outside Country by a Bank by issuing lookout circular on account of being Willful defaulter? The Calcutta High Court in this case was considering the petitioners’ Writ application for travelling abroad to […]
According to provisions of law, mutation is meant for the purpose of identifying person primarily liable for payment of tax. Mutation neither creates nor extinguishes title of any of parties to property.
Calcutta High Court held that for earlier assessment years already tax in respect of sale of shares was treated and accepted as long term capital gains. Thus, when the shares were held to be investments and accepted as earlier AYs, it cannot be said to be not an investment in the current AY. Accordingly, profit taxable as capital gains and not business income.
SPS Steels Rolling Mills Limited and Ors. Vs Asansol Durgapur Development Authority and Anr. (Calcutta High Court) Learned Single Judge by the impugned order has reached to the conclusion that the transfer fee was exempted under the resolution plan sanctioned by the National Company Law Tribunal and has found that the demand of the respondent […]
Calcutta High Court held that revision application filed under section 264 of the Income Tax Act allowable on account of bonafide mistake which cannot be rectified by filing revised return since original return was filed belatedly.
Standard Operating Procedure (SOP) under the Faceless Assessment framed under Section 144B of the Act had been issued by the National Faceless Assessment Centre, Delhi and communicated to all the Principal Chief Commissioners, Income Tax under the cover of a letter dated 3rd August, 2022.
Calcutta High Court held that in case of accident claim, compensation is to be calculated on gross salary after deducting the professional tax.
