Judiciary

After amendments Onus of proving a benami transaction rests entirely on owner/ benamidar

Shri Akashdeep Vs Manpreet Estates LLP (Appellate Tribunal For PBPT Act) It is correct that after amendment in Prohibition of Benami Property Transactions Act, 1988 (PBPT Act) , the onus of proving a benami transaction rests entirely on the shoulders of the respondents. Before amendment, the burden of proof was on the prosecution to prove...

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Posted Under: Corporate Law |

CIT (A) justified in directing AO to examine issue of deduction U/s. 54F

Ms. Zeba Shereen Vs ITO (ITAT Bangalore)

Learned DR submitted that the AO has failed to examine the claim for deduction under section 54F of the Act during the course of assessment proceedings as required by the law. Accordingly, the learned DR submitted that the revision order passed by the learned CIT does not call for any interference. ...

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Reason to believe that Income has escaped Assessment applies even in case of non-filing of return

Mohanlal Champalal Jain Vs ITO (Bombay High Court)

Mohanlal Champalal Jain Vs ITO (Bombay High Court) Assessing Officer has proceeded on wrong premise that even when called upon to state why the petitioner had not filed return of income, he had not responded to the said query. The petitioner did communicate to the Department that he had no taxable income and therefore, there […]...

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HC struck down CBDT’s action plan granting incentives to CIT(A)

The Chamber of Tax Consultants Vs. CBDT (Bombay High Court )

Bombay High Court in the writ filed by the Chamber of Tax Consultants has held that CBDT's action plan for granting incentives to CIT(A) on account of enchantment of assessment, levy of penalty, strengthening the order of AO, has been struck down retrospectively....

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HC allows Interest on Gross amount without Allowing ITC

M/s. Megha Engineering & Infrastructures Ltd. Vs The Commissioner of Central Tax (Telangana High Court)

M/s. Megha Engineering & Infrastructures Ltd. Vs The Commissioner of Central Tax (Telangana High Court) In the entire scheme of the GST  Act three things are of importance. They are; (i) the entitlement of a person to take credit of eligible in-put tax, as assessed in his return; (ii) the credit of such eligible in-put […]...

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Circular Trading / Fraudulent ITC Claim- HC denies Bail

P.V. Ramana Reddy Vs Union of India (Telangana High Court)

P.V. Ramana Reddy S/o. P. Shankar Reddy Vs Union of India (Telangana High Court) High Court held that without going deep, that the petitioners have allegedly involved in circular trading with a turnover on paper to the tune of about Rs.1,289.00 crores and a benefit of ITC to the tune of Rs.225.00 crores. The GST […]...

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SC Ruling: Effect of dismissal of SLP filed before Supreme Court

Khoday Distilleries Ltd. Vs Sri Mahadeshwara Sahakara Sakkare Karkhane Ltd. (Supreme Court of India)

In the case of Khoday Distilleries Ltd. The SC has explained the judicial effect of the dismissal of a Special Leave Petition, filed under Article 136 of the Indian Constitution....

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Posted Under: Corporate Law |

If two Views are Possible, Revision U/s. 263 is not permissible

Tata Motors Ltd. vs. CIT (LTU) (ITAT Mumbai)

As the issue of allowability of deduction u/s 37(1) of foreign tax credit on which tax credit is not available u/s 90 has been admitted by the Hon’ble Bombay High Court in the case of Tata Sons (supra), the same being a debatable issue, no revisionary proceedings u/s 263 is tenable....

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Supply of technical designs/drawings- defence of ‘Make Available Clause’ accessible

Buro Happold Limited Vs. DCIT (ITAT Mumbai)

This decision of Mumbai ITAT gives a new direction to the ‘make available’ clause to cover within its ambit the transfer of technical plan or design. In simple words, in order to determine taxability of transaction involving transfer of technical plan or design one needs to test such transaction under the ‘make available clause’. ...

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Split residency conundrum resolved by Bangalore ITAT through ‘centre of vital interest’ test

DCIT Vs. Sri Kumar Sanjeev Ranjan (ITAT Bangalore)

nder the Indian income tax law, the scope of taxable income depends upon the residential status of an assessee. In case of an individual, residential status depends on the number of days of stay in India in a given tax year.  ...

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