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Penalty U/s. 271B- Turnover means Actual TO not the TO declared in return

Rajesh Agarwal Vs ITO (ITAT Kolkata)

Rajesh Agarwal Vs ITO (ITAT Kolkata) We have heard the arguments of both the sides and also perused the relevant material available on record. The first contention raised by the learned counsel for the assessee in support of the assessee’s case is that the gross receipts of his business as declared by the assessee in […]...

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AO not justified in not allowing standard deduction from annual letting value

Chand N. Bhojwani Vs DCIT (ITAT Mumbai)

Chand N. Bhojwani Vs DCIT (ITAT Mumbai) AO was bound to compute the tax payable by the assessee on the income computed by him even if it was at a lesser figure than the income returned by the assessee. AO was unjustified in not giving full effect to the assessee on having himself assessed such […]...

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ICAI order on Misconduct against Delhi CAs remanded back to it by Appellate Authority

Radhey Shyam Bansal & Anil Kumar Aggarwal Vs. ICAI (Appellate Authority)

A sting operation conducted by Aaj Tak News Channel and aired on 14th November, 2016 under title Jugadu Mechanic Part-3 containing allegations against CA. Radhey Shyam Bansal...

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Subsidy for setting up industries to generate employment not to be adjusted against cost of depreciable assets

Sanghi Industries Ltd. Vs ACIT (ITAT Hyderabad)

Sanghi Industries Ltd. Vs ACIT (ITAT Hyderabad) Only if subsidy or other grant was given to offset the cost of an asset, such payment would be covered by Explanation 10 to section 43(1). In the instant case where subsidy was received as an incentive for setting up industries to generate employment, the mere fact that […]...

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Interest u/s 201(1A)- Up to Date of Payment or date of filing return of income?

Medicare TPA Services India Pvt. Ltd. Vs ACIT (TDS),(ITAT Kolkata)

Medicare TPA Services India Pvt. Ltd. Vs ACIT-TDS (ITAT Kolkata) Interest u/s 201(1A) of the Act could be charged only upto the date of payment of taxes by the deductees and not upto the date of filing of return of income. We find lot of force in this argument of the ld AR in as […]...

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GST on liquidated damages to be awarded by ICC

n re M/s. North American Coal Corporation India Pvt. Ltd. (GST AAR Maharashtra)

In re M/s. North American Coal Corporation India Private limited (GST AAR Maharashtra) 1. Whether liquidated damages that may be awarded to the Applicant by the International Chamber of Commerce (“ICC”) qualifies as a ‘supply’ under the Goods and Services Tax (“GST”) law, thereby attracting the levy of ...

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GST Rate on GPS, Echo Sounder, Radio Detecting & Ranging etc.

In re A S Moloobhoy Private Limited (GST AAR Maharashtra)

In re A S Moloobhoy Private Limited (GST AAR Maharashtra)  Question :-Whether the supply of  Global Positioning System, Echo Sounder, Radio Detecting and Ranging, Electronic Charts Display & Information System, Gyroscope, Automatic Identification System, Doppler Speed Log, Medium/High Frequency Communication, Very High frequency, Sa...

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GST on whole (Sheep/Goat) animal carcass in its natural shape in frozen state supplied to Army

In re M/s Monrovia Leasing and Finance Pvt. Ltd. (GST AAR Maharashtra)

In re M/s Monrovia Leasing and Finance Pvt. Ltd. (GST AAR Maharashtra) Q.1 Whether the whole (Sheep/Goat) animal carcass in its natural shape in frozen state in different weight and size packed in LDPE bags without mentioning the weight and one or two such LDPE bags further packed in HDPE bags being supplied to Army […]...

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5% GST Payable on EOT Grab Cranes : AAR

In re M/s Mukand Limited (GST AAR Maharashtra)

EOT Grab Cranes are integral part of the Waste to Energy Plants project for manufacturing and generation of end product of electricity and therefore the EOT Grab Cranes being used in waste to energy plant as per details given in present case clearly fall under serial no. 234 of schedule of notification 1/2017 - Integrated Tax (Rate) and l...

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Calcutta HC grants Bail to GST Defaulters in Fake GST Invoice Case

Sanjay Kumar Bhuwalka Vs Union of India (Calcutta High Court)

Sanjay Kumar Bhuwalka Vs UOI (Calcutta High Court) Calcutta High Court granted bail to the Alleged GST defaulters for alleged GST evasion by issuing  fake invoices. Mr. Moitra submits with regard to the statutory right of the petitioners to be released on bail with reference to provisions of Section 167 of the Code of Criminal Procedure...

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