Supreme Court of India

CIT can revise assessment order u/s 263 if AO did not make any proper inquiry

Deniel Merchants P. Ltd. Vs. ITO (Supreme Court of India)

Bogus share capital: Law laid down in Subhlakshmi Vanijya Pvt. Ltd vs. CIT 155 ITD 171 (Kol), Rajmandir Estates 386 ITR 162 (Cal) etc that the CIT is entitled to revise the assessment order u/s 263 on the ground that the AO did not make any proper inquiry while accepting the explanation of the assessee insofar as receipt of share applicat...

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CBDT Circular specifying Tax effects for appeal filing applies even to pending matters

Director Of Income Tax Vs. S.R.M.B. Dairy Farming (P) Ltd. (Supreme Court Of India)

A two-judge bench of the Supreme Court, on Wednesday categorically held that the circular issued by the Central Board of Direct Taxes (CBDT) prescribing monetary limit for filing appeals is applicable to pending appeals also. ...

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SC Allows Deduction of Excise Duty Paid in Advance in PLA

CIT Vs M/s Modipon Ltd. (Supreme Court of India)

CIT Vs M/s Modipon Ltd. (Supreme Court) Purpose of introduction of Section 43B of the Central Excise Act was to plug a loophole in the statute which permitted deductions on an accrual basis without the requisite obligation to deposit the tax with the State. Resultantly, on the basis of mere book entries an assessee was […]...

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HC cannot dismiss an appeal without going in merits of the same, which was dismissed by ITAT for non-removal of defects

CIT Vs. Goodwill Theaters Pvt Ltd (Supreme Court of India)

We are of the considered opinion that this was not a correct approach of the High Court for the simple reason that merely because one authority has followed its own decision in another case and that matter in appeal has been dismissed on technical grounds still the High Court has to decide the question on merits....

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Disciplinary Proceedings cannot be initiated against lawyer for Acts Unrelated to Professional Conduct :SC

Kaushal Kishore Awasthi Vs Balwant Singh Thakur & ANR. (Supreme Court of India)

Respondent No.1 herein (the complainant) had lodged a complaint with the Bar Council of Chhattisgarh (hereinafter referred to as the 'State Bar Council') on 19.12.2003 against the appellant, who is an Advocate by profession,...

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Hotels / restaurants can Sale mineral water above MRP: SC

Federation of Hotel and Restaurant Association of India (Supreme Court of India)

Federation of Hotel and Restaurant Association of India (Supreme Court of India); Hon’ble SC held that that neither the Standards of Weights and Measures Act, 1976 read with the enactment of 1985, or the Legal Metrology Act, 2009, would apply so as to interdict the sale of mineral water in hotels and restaurants at prices […]...

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SC extends deadline to Link Aadhaar for all schemes / Services except with PAN to 31.03.2018

Justice K S Puttaswamy (Retd ) And Anr Vs. Union Of India And Ors (Supreme Court Of India)

1. SC accepted the submission of Government which has stated that (i) The Union government has extended the deadline for Aadhaar linkage with all schemes of its Ministries/Departments until 31 March 2018; (ii) As far as Aadhaar linkage with bank accounts is concerned, for existing bank accounts, the last date for the completion of the pro...

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SSI benefit cannot be availed by an undertakings which do not continue as SSI: SC

Deputy Commissioner Of Income-Tax Vs. M/s. Ace Multi Axes Systems Ltd. (Supreme Court of India)

Incentive meant for small scale industrial undertakings cannot be availed by industrial undertakings which do not continue as small scale industrial undertakings during the relevant period, the bench held. ...

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Advance payment of Duty in PLA account eligible for deduction: SC

CIT Vs. M/s Modipon Ltd. (Supreme Court of India)

Advance deposit of central excise duty constitutes actual payment of duty within the meaning of Section 43B of the Central Excise Act and, therefore, the assessee is entitled to the benefit of deduction of the said amount....

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Advocate Fees based on a share in subject matter is professional misconduct & cannot be the basis of a Complaint U/s. 138 of NI Act: SC

B. Sunitha Vs. The State Of Telangana & Anr. (Supreme Court of India)

Mere issuance of cheque by the client may not debar him from contesting the liability. If liability is disputed, the advocate has to independently prove the contract. Claim based on percentage of subject matter in litigation cannot be the basis of a complaint under Section 138 of the Act....

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