To compute disallowance under section 14A read with rule 8D AO was directed to consider only those investments which had yielded exempt income during the year.
Sh. Ashwani Khurana Vs DCIT (ITAT Delhi) Undisputedly assessee had entered into an agreement to sell qua his property bearing no. 56 Golf Links, New Delhi with one Sanjay Pashi after accepting the earnest money of Rs. 4,62,50,000/-, which was subsequently forfeited as the prospective buyer Sanjay Pashi has failed to perform his part of […]
Zaheer Abdulhamid Mulani Vs ITO (ITAT Pune) The sanctity in terms of natural justice with regard to this proposition is that the assessee under the scheme of welfare legislation which is embedded in the Income Tax Act, 1961 should get an opportunity to prepare himself for the defense as regards to the exact charge on which […]
CIT Vs State Bank of India (Bombay High Court) Income Tax Appellate Tribunal (ITAT) has jurisdiction to examine a question of law, even though raised for the first time before the Tribunal, which arises from the facts as found by the authorities below and having a bearing on tax liability of assessee. Tribunal should not […]
Turner General Entertainment Networks India Pvt. Ltd. Vs ITO (Delhi High Court) This Court is of the opinion that the AO had to necessarily apply his/her mind to the application for stay of demand and pass appropriate orders having regard to the extant directions and circulars including the memorandum of 29.02.2016. This in turn meant […]
It is also observed that they did not disclose the value of the free supply material in their ST-3 returns. This is not the case where the issue was under litigation or there is any interpretation of law involved for the reason that all the judgments relied upon by the appellant are on different facts and as per the Works Contract Rules, the provision is clear that the material used whether supplied for consideration or otherwise, should be included, therefore there is no ambiguity in the legal provision.
M/s. Shree Balaji Ventures Vs ITO (ITAT Pune) It is apparent that the view point bolstered by the authorities that Annual Letting Value in respect of unsold properties lying with the assessee as a stock in trade, should be determined u/s. 23 of the Act, cannot be countenanced in the hue of the later judgments […]
M/s. Jayachandran Alloys (P) Ltd. Vs Superintendent of GST and Central Excise (Madras High Court) In the present case, the Department does not dispute that action was intended or envisaged in the light of Section 132 of the CGST Act, the counter fairly stating that the provisions of Section 132 of the CGST Act were […]
The goods of the petitioner were being carried from Delhi to Ghaziabad and have been seized on the basis of certain alleged irregularities found in the documents accompanying the goods.
Madan Tiwari Vs State of Chhattisgarh (Chhattisgarh High Court) Purport of the special law under the Negotiable Instruments Act is to ensure that the promise to pay is abided by the person so promising. The provision under Section 139 of the NI Act is that it shall be presumed that the holder of a cheque […]
