The issue under consideration is whether Tribunal was correct and justified in directing the AO to allow deduction under section 80-IB(10) to assessee land owner when it had not incurred any expenses towards development or construction of the housing project?
HC modify Conditions of Bail considering the inability of accused to comply with same due to COVID-19.
ACIT Vs Padma Logistics & Khanij Pvt. Ltd (Madras High Court) The issue under consideration is whether the set off of brought forward losses and unabsorbed depreciation of merged division in revised return is justified in law? In present case, the assessee Company had filed the original return of income on 28.09.2010 showing total income […]
ITAT states that, it has to be pointed out that any tax holiday can be granted to a person who declares a truthful return. It cannot and should not be granted to the person who claims that he purchased medical equipments in the guise of treating poor persons and it is subsequently found that the entire transaction is bogus.
In the present case, the dispute arose for the aforementioned reason as it is the case of the Plaintiff that the adoption of the deceptively similar expression Magical Masala by the defendant in the year 2013 for marketing their noodles amounts to passing-off.
The word Magic is laudatory. It is incapable of being appropriated by the plaintiff. As such no person can claim any monopoly over the said word Magic or Magical or their derivative as they are common to the trade. Therefore, it is incapable of being monopolised by any trader.
The issue under consideration is whether ITAT was right in law in holding Section 50B i.e slump sale was not applicable in present case of assessee?
The issue under consideration is the rejection of stay of demand by the assessing authority without offering an opportunity of heard is justified in law?
The petitioner states that since no provisional ID was received from GSTN, it proceeded to utilise an ID using random units that, admittedly, has no basis and was defective. Using this ID, business was conducted during the period 01.07.2017 to 21.08.2017 and credit was also earned.
AO was not justified in reopening of assessment after four years as on an independent application of mind and on thorough consideration of material aspects and legal position,there was no failure on the part of assessee.
