M/s JDC Traders Pvt. Ltd. Vs DCIT (ITAT Delhi) A careful reading of Section 147 clearly shows that it empowers the learned AO to assess or re-assess the income in respect of any issue which had escaped the assessment irrespective of the fact that whether such aspect was adverted to in respect of the reasons […]
i) The term recovery is comprehensive and includes adjustment thereby reducing the demand; (ii) It will be specious & illogical for the Revenue to contend that if an issue is decided in favour of the assessee giving rise to a refund in an earlier year, that refund can be adjusted u/s 245, on account of the demand on the same issue in a subsequent year.
Since the unaccounted money as alleged by the AO was the loan, which was repaid subsequently by assessee, addition made on account of unverifiable unsecured loans was unjustified.
Unitac Energy Solution Pvt. Ltd. Vs Ass. STO (Kerala High Court) Kerala High Court has held that detention claiming the consignee was a return defaulter for the last five months, is not a valid ground to justify detention under Section 129 of the CGST Act 2017. The High Court quashed the detention notice observing that […]
Where assessee failed to upload the report electronically in Form No. 3CEB but said report was promptly made available in the assessment proceedings itself, said failure was accepted as bona fide and accordingly, the penalty levied under section 271BA was to be quashed.
Hardcastle Restaurants Pvt. Ltd. Vs Union of India (Bombay High Court) The main contention of the Petitioner is of violation of the principles of natural justice. Petitioner contends that since the hearing was only by three members and the impugned order is by four members, it is in breach of principles of natural justice. The […]
Shri. Haji Sumar Vs Commissioner of Customs (CESTAT Chennai) CESTAT Chennai has held that the transaction value adopted by the importer cannot be rejected merely based on export declarations received from Turkish Customs, public ledger and Commodity Trade Statistics Data (Comtrade). Shri. Haji Sumar, who is one of the partners of M/s. Diamond Traders, has […]
Not passing a speaking order rejecting the objections of assessee to reopening of assessment but passing an order under section 147 making the additions based on reasons recorded had caused serious prejudice to interest of assessee. Thus, reopening had not been done in accordance with the law by AO and, therefore, reassessment order was set aside.
Services provided by the payment gateway is such that the charges collected by it has to be necessarily treated as fees and not as a commission. The payment in fact is made by one principal to another and it is only being facilitated by the payment gateway by providing a service.
Shri Chandraprabhuji Maharaj Jain Vs DCIT (Exemptions) (Madras High Court) The assessee filed the return of income for the assessment year under consideration on 02.04.2009, which was processed and intimation under Section 143(1) of the Act was issued on 21.01.2011. Thus, there was no assessment under Section 143(3) of the Act. The assessee, while filing […]
