High Court held that once the approval is granted by the prescribed authority and such approval is valid, it would no longer be open for the Assessing Officer to verify the satisfaction of the conditions prescribed under rule 18DA in order to refuse deduction under subsection(8A) of section 80IB of the Act.
Kaneria Granito Ltd Vs ACIT (Gujarat High Court) In this case, admittedly, all the three bank accounts were in the nature of either the cash credit account or term loan account. In other words, the accounts were opened to enable the assessee to borrow the money from the bank for the purpose of its business. […]
Gujarat High Court examines N.K. Industries bogus purchase tax case. Court rules on addition quantum for alleged fake purchases & block assessment.
Honble Gujarat High Court has vide its order dated 30th March, 2016 in the case of Percy Cawas Kavina vs. UOI in Special Civil Application No. 4926 of 2016 directed an ad-interim stay of Notification No. 18/2016-ST Dated 01/03/2016and Notification No. 9/2016–ST Dated-01/03/2016 with respect to the levy of service-tax on senior advocates as proposed
Whether the ITAT was right in treating the payments made to retiring partners in the nature of compensation can be termed as goodwill and subsequently eligible for depreciation?
Gujarat High Court held In the case of Tata Teleservices vs. Union of India that while amending section 201 by Finance Act, 2014, it has been specifically mentioned that the same shall be applicable w.e.f. 1/10/2014 and even considering the fact that proceedings for F.Y. 2007-08
Gujarat High Court held In the case of CIT (TDS) vs. Schutz Dishman Bio-Tech Pvt. Ltd. that there are large number of adjustment entries between the corporates. Unlike transactions of loans and advances, in this kind of adjustment entries, the movement of funds is both ways and the same is more in the nature of current account rather than a loan account.
It is held that mere reference to the power under Section 48A of the Gujarat Sales Tax Act doesn’t empower the Department to attach the property of the Petitioner unless it is proved that husband had any right or interest in the property of the Petitioner.
The Hon’ble High Court, Gujarat relying upon the Order addressed by the Department to Alps Chemicals Pvt. Ltd. on the same facts and judgment in the case of Ralli Engine Ltd. Vs. Union Of India [2004 (4) TMI 590 – Gujarat High Court], held that the Appellant is permitted to pay the Excise duty foregone from the legally availed Cenvat credit account.
CIT Vs. Arvind Mills Limited (Gujarat High Court)- Whether ITAT was right holding that the assessee was entitled to interest under Section 244A of the Act for both the months when the tax was paid and when the tax refundable was adjusted irrespective of the period between such events?
