Gujarat High Court

Writ filed in Gujarat HC on Double Levy of IGST on Ocean Freight: HC issues notice to Govt.

Mohit Minerals Pvt Ltd. Vs Union of India (Gujarat High Court)

The petitioner's challenge has principally three elements viz., [a] having paid the tax under IGST Act on the entire value of imports; inclusive of the ocean freight, the petitioner cannot be asked to pay tax on the ocean freight all over again under a different notification; ...

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Revision U/s. 264 can be done for Firm’s expenses claimed in individual return after Assessee files revised computation for both

Hitech Analytical Services Vs. Pr. CIT (Gujarat High Court)

Where revision petition was filed by assessee in respect of its individual and also for firm’s return to claim expenses in firm’s return which were claimed in its personal return, CIT was not justified in dismissing revision application without looking into the matter, therefore, it was remanded back to CIT to consider afresh....

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HC issues notice to govt on double levy of cess on imported coal in stock

FC Agrawal Coal Pvt. Ltd. Vs. Union Of India (Gujarat High Court at Ahmedabad)

In this case the assessee had imported coal prior to the introduction of goods and service tax regime and had already paid clean energy cess at the prescribed rate. On the stock which the petitioner had not cleared, no credit had been allowed on such cess and Department again asked to pay fresh cess under the Goods and Service Tax (Compen...

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Net interest expenses to be considered for disallowance U/s. 14A

Pr. CIT Vs. Nirma Credit & Capital (P) Ltd. (Gujarat High Court)

Where assessee was earning exempt income and no dis allowance was made by it and AO was of view that assessee failed to prove that own funds were utilized for investment, therefore, AO proceeded to compute dis allowance of interest paid on borrowed funds, however, it ignored the interest income earned by assessee, AO was not justified sin...

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Notice for reopening U/s. 148 cannot be issued in absence of fresh material

Elecon Engineering Company Ltd. Vs. Asst. CIT (Gujarat High Court)

An issue which had been examined in detail during original assessment itself, could not be re-examined in exercise of powers of reassessment, therefore, notice under section 148 was set aside....

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Sect. 36(1)(iii)- Interest-free loans & allowability of Interest on borrowings

Pr. CIT Vs. Consumer Marketing (India) (P) Ltd. (Gujarat High Court)

Where assessee paid interest on term loan which had entirely been used for purpose of purchasing the assets for purpose of business which were hypothecated to bank and it had sufficient interest-free funds to take care of advances, the deduction under section 36(1)(iii) was allowable....

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Reopening not permissible on the ground of expense which was not claimed by Assessee

Sandip Bhikhubhai Padsala Vs. ITO & Anr. (Gujarat High Court)

Assessee sold 3,10,000 shares and claimed resulting gains as exempt under section 10(38). AO denied the exemption on the ground that as the shares were not held by the assessee for more than 12 months period, therefore, same could not be considered as long-term capital assets. ...

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Courts have Limited Role in Professional Misconduct matters of CAs

Council Of ICAI Vs. Manubhai A Panchal & Co. (Gujarat High Court)

This Court while deciding a Reference needs to keep in mind the limitations of its role. It does not sit in appeal over the decision making process of the Disciplinary Committee and the recommendations so made by the Council of the Institute. Hence in examining the Report and the recommendation of the Council it cannot re-appreciate the ...

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Bogus Purchase- Addition by GP rate of 8% on bogus purchases justified

Pr. CIT Vs Jagdish H Patel (Gujarat High Court)

Assessee’s contention that adding the entire amount of bogus purchases would give a completely distorted figure and the gross profit would be higher than the total turnover. Such bogus purchases were for off-setting the purchases from producers and agriculturists directly who would not have the billing facility. Only question seriously ...

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Limitation of permitting correction of only four characters of PAN in TDS return is not justified

Purnima Advertising Agency Pvt. Ltd. Vs. Dy. CIT (Gujarat High Court)

Where on account of an inadvertent error, PAN of the deductee was wrongly mentioned by assessee, in TDS return, AO was not justified in not permitting the assessee to correct PAN of the deductee, putting the limitation of permitting corrections of only four characters. The case was, therefore, remanded....

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