Access significant and up-to-date high court judgments for legal insights and precedent. Stay informed about the latest legal decisions and their impact on various areas of law.
Goods and Services Tax : The Court held that recovery from third parties cannot be initiated when only a proposed demand exists and no final tax liability ...
Corporate Law : The Karnataka High Court held that projects obtaining partial occupancy certificates before RERA came into force are exempt from b...
Corporate Law : The Allahabad High Court held that Magistrates and police officers may be personally liable for compensation where unlawful preven...
Goods and Services Tax : The Court reaffirmed that taxpayers are entitled to due process before coercive recovery measures are initiated. Recovery actions ...
Corporate Law : Allahabad High Court ruled that unlawful police custody directly infringes fundamental right to life and liberty under Article 21....
Corporate Law : The Supreme Court upheld joint insolvency proceedings against two interconnected real estate companies due to common management an...
Corporate Law : Supreme Court ruled that CoC and RP can surrender financially burdensome assets voluntarily, clarifying moratorium under section 1...
Income Tax : Gujarat HC has directed CBDT to ensure that there is a mandatory one-month gap between date for furnishing tax audit reports (unde...
Income Tax : Rajasthan High Court granted a one-month extension for filing TARs under Section 44AB for AY 2025-26, citing delayed audit utility...
Income Tax : The Gujarat High Court is hearing a petition from the Chartered Accountants Association regarding persistent glitches on the new I...
Goods and Services Tax : The Court held that writ petitions need not continue once the GSTAT becomes operational and statutory appeal timelines are availab...
Income Tax : The Court held that reassessment proceedings cannot be sustained merely on the basis of an unsigned and unauthenticated loose pape...
Corporate Law : The Bombay High Court held that limitation under Section 35 of the Goa VAT Act must be computed after excluding the COVID period w...
Goods and Services Tax : The Kerala High Court ruled that businesses could distribute common ITC through cross-charge without obtaining ISD registration be...
Custom Duty : The Court held that retention of seized cash beyond six months is illegal if the extension order under Section 110(2) of the Custo...
Income Tax : The Court held that membership cannot be granted where the underlying flats do not exist and are merely refuge areas. It ruled tha...
Corporate Law : Bombay High Court implements "Rules for Video Conferencing 2022" for all courts in Maharashtra, Goa, and union territories, effect...
Income Tax : CBDT raises monetary limits for tax appeals: Rs. 60 lakh for ITAT, Rs. 2 crore for High Court, and Rs. 5 crore for Supreme Court, ...
Corporate Law : The Delhi High Court mandates new video conferencing protocols to enhance transparency and accessibility in court proceedings. Rea...
Income Tax : Income Tax Department Issues Instructions for Assessing Officers after Adverse Observations of Hon. Allahabad High Court in in Civ...
For the assessment year 2006- 07, the Assessing Officer vide order dated 23rd March, 2009 had imposed penalty of Rs. 10,70,000/- under Section 271D of the Income Tax Act, 1961 (Act, for short). This penalty was levied on account of Rs. 21,97,500/- received in cash by the respondent- assessee from Pradeep Aggarwal and Kaveri Aggarwal. The Assessing Officer, in this connection, has referred to the assessment order in the quantum proceedings wherein the nature and character of the aforesaid deposit/ transaction has been discussed in detail and the terms loan and deposit were examined. The Assessing Officer has recorded that the authorized share capital of the respondent assessee company was Rs. 1,00,000/- only.
Supreme Court in Vodafone International (dated 20 January 2012) considered its decisions in the matters of McDowell reported in (1985) 3 SCC 230, Azadi Bachao reported in (2004) 10 SCC 1 and the Mathuram Agarwal reported in (1999) 8 SCC 667 and concluded that where the transaction is not genuine but a colourable device there could be no question of tax planning. Supreme Court makes it very clear that a colourable device cannot be a part of tax planning.
An order of assessment in case of ICICI bank Ltd (ICICI) was passed in March 1999 u/s 143(3) wherein deduction claimed u/s Section 36(1)(vii) and 36(1)(viia) and in respect of foreign exchange rate difference was allowed. The first reassessment was carried out in February 2000 for reworking a deduction under Sec 80M. Thereafter, a second reassessment was carried out in March 2001 for reworking of the deduction under Section 36(1)(viii). In March 2003, the Commissioner u/s 263 sought to revise assessment to disallow deduction u/s 36(1 )(vii) and 36(1 )(viia) and in respect of foreign exchange rate difference.
HC held that the benefit of Sec 80IB was not available where the assessee had not applied for Factory License before April 1st 2004. How¬ever, HC also clarified that in other cases where the assessee had applied for Factory License before April 1st 2004 but was granted the same later, deduction shall be allowable and such cases shall be treated as mere technical default.
HC, ruling in favour of the assessee held that it was eligible to set off a loss incurred in tax holiday unit against the income arising from other units, under the same head of ‘profits and gains of business or profession’. HC observed that there was no specific prohibition in Sec 10B for such setting off of a loss. Under Sec 70, the assessee was eligible to set off loss from one source against income from any other source under the same head of income.
There is no doubt that the correspondence between the parties in April, 2009 gives the impression that the company admitted and acknowledged that the company owed money to the petitioner. Yet, on the basis of the mail exchanged at the relevant time, the exact quantum of the company’s indebtedness to the petitioner cannot be assessed.
CA certifying in Form 10CCAC that export proceeds have been realised when not in fact realized amounts to false and bogus certificate and is serious misconduct for which mere reprimand is not sufficient punishment. The attempt was to dupe tax authorities and help assessee to avoid tax, to that extent, such a conduct has to be taken seriously and respondent cannot be let off merely by giving him reprimand; some penalty needs to be imposed so that it acts as deterrent and such professional misconduct are not committed.
CIT vs. Jawahar Bhattacharjee we hold that Daga Entrade P. Ltd. lays down correct law and the same is not in conflict with the earlier order of this Court in Rajendra Singh. Jurisdiction under Section 263 can be exercised whenever it is found that the order of assessment was erroneous and prejudicial to the interest of the Revenue. Cases of assessment order passed on wrong assumption of facts, on incorrect application of law, without due application of mind or without following principles of natural justice are not beyond the scope of Section 263 of the Act.
In an old judgement but useful Judgment Bombay High Court in the case of CIT Vs. Godavari Saraf held that until contrary decision is given by any other competent High Court, which is binding on a Tribunal in the relevant State, it has to proceed on the footing that the law declared by the High Court, though of another State, is the final law of the land. Which means that once a decision is given by any of the High Courts in the country and there is no contrary decision by any other High Court on the same issue then such decision of High Court will be binding on all the administrative authorities and Tribunals through out India.
The profession of law has always been known as a noble profession. It is not an empty rhetoric. Success in the profession is measured not by the fortune made but on the threshold of learning. Advocates are known as the officers of the Court. They are expected to possess not only intellectual purity but owe a responsibility to the Court to present the case dispassionately in an upright dignified ethical manner and to display fairness also to their colleagues and in all their dealings. The duty of a lawyer is to assist the Court in the administration of justice and an advocate must not indulge in any activity which may tend to lower the image of the profession in the Society.
