Rajasthan High Court

Landmark Judgment: Benami Amendment Act, 2016 not applicable from retrospective effect: HC

Niharika Jain W/o Shri Andesh Jain Vs Union of India (Rajasthan High Court)

Court has no hesitation to hold that the Benami Amendment Act, 2016, amending the Principal Benami Act, 1988, enacted w.e.f. 1st November, 2016, i.e. the date determined by the Central Government in its wisdom for its enforcement; cannot have retrospective effect....

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Central Excise and Service Tax Audit for pre GST period | section 174(2)

Suresh Kumar Singhal Vs Union of India (Rajasthan High Court)

Suresh Kumar Singhal Vs Union of India (Rajasthan High Court) Provision incorporated in the Constitution Act, 2016 as aforesaid, in no manner, restrict the operation of the provisions of section 174(2) incorporated in CGST Act beyond the period of one year, which provides that repeal of the Acts specified in sub-section (1) of section 174...

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Reassessment not valid if Notice under section 143(2) not issued

Pr. CIT Vs Kamla Devi Sharma (Rajasthan High Court)

The issue of notice under section 143(2) in reassessment proceedings, prior to finalizing re-assessment order, cannot be condoned by referring to section 292BB and it was fatal to the order of reassessment....

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Retraction of Statement recorded U/s. 132(4) after long lapse- Addition justified

Pr. CIT Vs Roshan Lal Sancheti (Rajasthan High Court)

Pr. CIT Vs Roshan Lal Sancheti (Rajasthan High Court) it must be held that statement recorded under section 132(4) of the Act and later confirmed in statement recorded under section 131 of the Act, cannot be discarded simply by observing that the assessee has retracted the same because such retraction ought to have been generally [&hellip...

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Registration U/s. 12AA cannot be denied for non filing of Income Tax Return

CIT Vs Shekhawati Public School Samiti (Rajasthan High Court)

It cannot be concluded on the basis that the assessee had not filed its income tax returns in earlier years that the activities of the assessee were not genuine. There was no dispute that the objects of the assessee-society were not charitable or the activities of assessee were not being carried on in accordance with the stated objectives...

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Mere Holding Shares for a Short Period will not convert capital gain into business income

Pr. CIT Vs Khaitan Chemicals Ltd. (Rajsthan High Court)

Pr. CIT Vs Khaitan Chemicals Ltd. (Rajsthan High Court) HC observed that the issue of classification of income on the sale of shares as business income or as short-term capital gains is to be decided the facts of each case. The tests to be applied for such determination is provided in CBDT Circular No.4 of […]...

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Penalty U/s. 271G cannot be imposed in Absence of specific allegation of non-compliance

CIT Vs M/s. Gillette India Ltd. (Rajasthan High Court)

CIT Vs M/s. Gillette India Ltd. (Rajasthan High Court) What is clearly discernable from the penalty order is that reference was not made to any particular or specific date by which assessee was required to submit the documents; or whether the same were furnished within 30 days or within the extended period of 30 days […]...

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No disallowance U/s. 40A(3) If Income computed by applying gross profit rate

Pr. CIT VS Jadau Jewellers & Manufactures (P) Ltd. (Rajasthan High Court)

When income of the assessee was computed by applying gross profit rate, there was no need to look into the provisions of section 40A(3), as applying the gross profit rate takes care of expenditure otherwise by way of cross cheque also. Following the same the action of Tribunal could not be held as unjustified....

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Input credit based on fake invoices- HC dismisses Writ Petition & Imposes Rs. One Lakh Cost

Bharat Raj Punj Vs Commissioner of Central Goods And Service Tax (Rajasthan High Court)

etitioners have claimed tax input credit on the basis of fake invoices hence Writ Petition is dismissed with cost of Rs.1,00,000/- only.29. The cost amount be deposited with the Rajasthan High Court Legal Services Authority within four weeks of the date of this order and proof thereof, be submitted with the Registrar (Judicial). If the pr...

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Depreciation on public roads is allowable @10%

CIT Vs GVK Jaipur Kishangarh Expressway Ltd. (Rajasthan High Court)

Depreciation was allowable @10% on public highway road treating the same as building. It was held assessee was granted license for construction against which it had right to use and collect license fee to use of the land. It had right to restrict the people without non payment of toll tax. It was not only road, they had to construct toll ...

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