Daily Archives: March 4, 2020

Banking Regulation (Amendment) Bill, 2020

By | March 4, 2020

AS INTRODUCED IN LOK SABHA on 03/03/2020 Bill No. 56 of 2020 THE BANKING REGULATION (AMENDMENT) BILL, 2020 A BILL further to amend the Banking Regulation Act, 1949. BE it enacted by Parliament in the Seventy-first Year of the Republic of India as follows:— 1. Short title and commencement. (1) This Act may be called… Read More »

No Section 12A registration denial if objects were charitable & activities were genuine

By | March 4, 2020

Shri Dhar Sabha Vs CIT – Exemption) (ITAT Amritsar) ITA No. 53/ASR/2017 08/01/2020 FULL TEXT OF THE ITAT JUDGEMENT On account of difference of opinion between the Ld. Accountant Member and Ld. Judicial Member of the ITAT, Amritsar Bench, this matter has been referred to me by the Hon’ble President ITAT for consideration and disposal… Read More »

Belated Service Tax payment allowable on actual payment basis

By | March 4, 2020

Wyzmindz Solutions Pvt. Ltd. Vs ITO (ITAT Bangalore) ITA No. 3417/Bang/2018 30/01/2020 2014-2015 FULL TEXT OF THE ITAT JUDGEMENT This appeal filed by the assessee is directed against the order of the CIT(A), dated 25.10.2018. The relevant assessment year is 2014-2015. 2. This is the second round of this appeal before the Tribunal. In the… Read More »

Entire purchases cannot be disallowed as Bogus If AO accepted sales

By | March 4, 2020

PCIT Vs Rishabhdev Tachnocable Ltd. (Bombay High Court) Income Tax Appeal (IT) No.1330 of 2017 10/02/2020 Related Assessment Year : 2010-11 FULL TEXT OF THE HIGH COURT ORDER /JUDGEMENT 1. Heard Mr.Akhileshwar Sharma, learned standing counsel, Revenue for the appellant. 2. This appeal has been preferred by the Revenue under Section 260A of the Income… Read More »

No disallowance for payment to related parties without demonstrating that payment made was excessive and unreasonable

By | March 4, 2020

Motilal Laxmichand Sanghavi Vs ACIT (ITAT Mumbai) IT Appeal Nos. 3110 to 3112 (Mum.) of 2018 26/07/2019 Related Assessment Year : 2012-13, 2013–14 & 2014–15 FULL TEXT OF THE ITAT JUDGEMENT Captioned appeals filed by the same assessee arise out of three separate orders, all dated 12th March 2018, of learned Commissioner of Income Tax (Appeals)–6, Mumbai,… Read More »

No Section 194H TDS on discount to distributors of prepaid SIM cards

By | March 4, 2020

CIT (TDS) Vs Vodafone Cellular Ltd. (Bombay High Court) Income Tax Appeal No. 1152 of 2017 27/01/2020 FULL TEXT OF THE HIGH COURT ORDER /JUDGEMENT This order will dispose of all the above five appeals. 2. Heard Mr. Sham Walve, learned standing counsel revenue for the appellant and Ms.Mrunal J. Parekh, learned counsel for the… Read More »

FBT on providing Free Medicine Samples to Doctors by Pharma Companies

By | March 4, 2020

PCIT Vs Aristo Pharmaceuticals P Ltd (Bombay High Court) Income Tax Appeal No. 1961 of 2017 23/01/2020 Related Assessment Year : 2006-07 FULL TEXT OF THE HIGH COURT ORDER /JUDGEMENT 1. Heard Mr. Suresh Kumar, learned standing counsel, revenue for the appellant. 2. This appeal under Section 260A of the Income Tax Act, 1961 (“the Act” for short)… Read More »

Right to collect parking fees is nothing but a consideration liable to Service Tax

By | March 4, 2020

MGF Event Management Vs CCE (CESTAT Delhi) Service Tax Appeal No. 53191 of 2014 03/02/2020 FULL TEXT OF THE CESTAT JUDGEMENT The present appeal has been filed against the impugned Order-in-Original whereby the learned Commissioner has confirmed service tax demand of Rs. 2,47,31,755/- besides demanding interest and imposing penalties under different Sections 25, Section 78… Read More »

Depreciation allowed on License/registration fee paid to Indian Railways

By | March 4, 2020

ACIT Vs Central Warehousing Corpn. (ITAT Delhi) ITA No. 5449/Del/2017 12/02/2020 Related Assessment Year : 2012-13 FULL TEXT OF THE ITAT JUDGEMENT Challenging the order dated 21/03/2017 in appeal No. 40/15-16 passed by the learned Commissioner of Income Tax (Appeals)-2, New Delhi (“Ld. CIT(A)”), for assessment year 2012-13, in the case of M/s. Central Warehousing… Read More »

Game where success depends upon substantial degree of skill are not gambling

By | March 4, 2020

 Chandresh Sankhla Vs State of Rajasthan (Rajasthan High Court)  D. B. Civil Writ Petition No. 6653 of 2019  14/02/2020 FULL TEXT OF THE HIGH COURT ORDER / JUDGEMENT The present Public Interest Litigation (PIL) petition has been filed by the petitioner claiming himself to be a resident of Ajmer City, involved in the business of… Read More »