Sri. Abdul Azeez M Vs ACIT (ITAT Cochin) Admittedly in this case, no audit report has been filed for assessment year 2009-2010. It is the contention of the assessee that there was a reasonable cause as mandated u/s 273B of the I.T.Act. It was submitted by the learned AR that consequent to search and seizure […]
When the commission paid to the non-resident agents was neither received or deemed to be received in India nor accrued or was deemed to accrue in India, no income was chargeable to tax under the provisions of the Act. When the payment made by assessee to the overseas agent for services rendered abroad was not income chargeable to tax in India, there was no obligation cast upon assessee to deduct tax at source under section 195 and consequently, the provisions of section 40(a)(ia) would not be attracted.
Dharmraj Prasad Bibhuti Vs ITAT, Patna (Patna High Court) Section 132 (4A) of the I.T. Act provides that where any books of Accounts, other documents, money etc. is found in possession or control of any person in course of search, it may be presumed that the same belongs to such person. It is apparent from […]
Since assessee had deducted the TDS, but not remitted to Government account and for that he had not given any satisfactory explanation either before AO or before CIT(A), therefore, penalty under section 271C was justified.
Jaiswal Import Cargo Services Limited Vs Commissioner of Customs (CESTAT Delhi) CESTAT New Delhi has observed that assorted birthday candles with Chlorate, Potassium, Aluminium, etc., (material for fireworks) only in material contents of the central wig, are not classifiable as fireworks. The Tribunal for this purpose, relied upon Rule 3(a) of Interpretative Rules and the […]
M/s New Delhi Television Limited Vs SEBI (SAT Mumbai) SAT upheld the order of SEBI penalising the Company and its Directors for non- disclosure of tax demand on the grounds that any information which have effect on the operations of the Company is price sensitive and must be disclosed immediately to the Stock exchange. However, […]
Shravan Choudhary Vs ACIT (ITAT Jaipur) If the transaction is a business transaction between the parties then the amount received under the said transaction cannot be held as loan or advance to be treated as deemed dividend under section 2(22)(e) of the Act. The assessee explained the facts regarding the loan given by the assessee […]
Gujarat High Court has reiterated that the power to arrest under Section 69 of the Central GST Act is to be exercised with lot of care and circumspection and that prosecution should normally be launched only after completion of adjudication. The Court directed that no coercive steps of arrest against the writ petitioner should be taken.
Ms Anusura Vs Mohit A Gupta (Gujarat High Court) Having heard the learned counsel appearing for the parties and having gone through the materials on record, we are of the view that the action on the part of the concerned authorities could be termed as absolutely high-handed and arbitrary. The facts of this case speak for themselves. […]
In view of the above mentioned parameters, ITAT found that the appellant has not been able to discharge even the basic onus to prove the genuineness of cash credits in his bank accounts. Therefore, in their considered view when the existence of the source of such cash deposits is not proven then the A.0 is fully justified in treating such cash deposits as unexplained and liable to be taxed.
