Parnami Pump & Projects Pvt. Ltd. Vs DCIT (ITAT Delhi) Bogus Purchases Cannot Be Wholly Disallowed Without Disallowing Sales Only Gross Profit (GP) Rate Should Be Added as Undisclosed Income We find that the Assessing Officer had issued summons u/s.131 to the proprietor of the said entity from whom assessee has made purchases, but that […]
Approval given by approving authority for reopening of assessment u/s 147 of the Income Tax Act, 1961 was without due application of mind and in mechanical manner – reassessment should be quashed.
SRC Aviation (P) Ltd. Vs Union of India & Ors. (Delhi High Court) it may be noted that as per Notification No. 49/2019 dated 09.10.2019 issued by CBIC, the date prescribed for filing of Form GST TRAN-1 under Rule 117 (1A) of the CGST Rules has been extended to 31.12.2019. This itself demonstrates that the […]
Ramesh Electricals Vs Union of India (Karnataka High Court) Petitioners are invoking the writ jurisdiction of this Court, in substance for a direction to the respondents to permit them to avail the benefit in the ‘Arrears Category’ of SAB KA VISHWAS (LEGACY DISPUTE RESOLUTION) Scheme 2019. The apprehension of the petitioners that their claim under […]
HC find that the order dated 26.09.2018 to be not assigning any reasons whatsoever. Also, HC noticed that prior to passing of the impugned order, no opportunity of hearing was ever afforded to the writ-petitioner. As such, there was gross violation of principles of natural justice in passing of the impugned order.
The Pharmaceutical Reference Standards (Prepared Laboratory Reagents) imported and supplied by the Appellant and classified under Tariff Item 3822 00 90 of the Customs Tariff Act, 1975 is covered under Entry No. 80 of Schedule-II to Notification No. 1/2017-Integrated Tax (Rate) dated 28th June 2017 attracting a levy of Integrated Tax at the rate of 12%.
PCIT Vs Arvind N Nopany (Gujarat High Court) The issue under consideration is whether the gift received from Brother-in-law is exempt u/s 56(2) of I T Act? High Court states that, the tribunal took into consideration the details of the donor, more particularly, the PAN number, capital gain statement, bank statements and the other relevant […]
On careful perusal of allegations levelled by the Informant and the documents provided, the Commission notes that there are four alleged practices on the marketplaces, namely, exclusive launch of mobile phones, preferred sellers on the marketplaces, deep discounting and preferential listing/promotion of private labels.
In re JSW Energy Ltd. (GST AAAR Maharashtra) The Appellate Authority for Advance Ruling is, hereby, held that the proposed arrangement of supply of coal or any other inputs by the principal i.e. JSL to the Appellant i.e. JEL for generation of electricity will be construed as job work. Accordingly, no GST will be leviable […]
Arun Munshaw HUF Vs ITO (Gujarat High Court) Thus, having regard to the position of law and the materials emerging from the record of the case, it cannot be said that there was no full and true disclosure at the end of the assessee of the material facts. In such circumstances, it could be said […]
