Category Archives: Income Tax Judgments

Look Out Circular to be recalled is Person cooperated in Investigations : HC

By | March 6, 2020
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HIGH COURT OF DELHI Lakshmi Satyanarayana Dutt Tadikonda v. Union of India RAJNISH BHATNAGAR, J. W.P. (CRL.) NO. 343 OF 2020 CRL. M.A. NO. 2540 OF 2020 FEBRUARY  12, 2020 N. Hiharan, Sr. Adv., Aman Panwar, Mudit Gupta, Harsh Gattani, Siddharth Yadav and Sharang Dhulia, Advs. for the Petitioner. Anil Soni, Devesh Dubey, Abhishek Maratha, Pratyaksh Gupta and Ms. Nupur Sharma, Advs. for the Respondent. ORDER 1. By way of… Read More »

No Reassessment of Club if all facts disclosed and considered u/s 143(3) : HC

By | March 6, 2020
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In my considered view the impugned notices under section 148 of the Income-tax Act, 1961 and the proceedings under section 147 of the Act are not sustainable in law and should be quashed for the reason that admittedly impugned proceeding initiated under section 147 and notices issued under section 148 of the Income-tax Act, 1961,… Read More »

Newly Registered Trust is entitled for registration u/s 12AA even if no activity is carried on : SC

By | March 6, 2020
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SUPREME COURT OF INDIA Ananda Social & Educational Trust v. Commissioner of Income tax S.A. BOBDE, CJI. B.R. GAVAI AND SURYA KANT, JJ. CIVIL APPEAL NO(S). 5437-5438 OF 2012 FEBRUARY  19, 2020 ORDER Civil Appeal No(s).5437-5438/2012 We have heard learned counsel appearing for the parties and perused the impugned Judgment(s) and Order(s) passed by the High Court… Read More »

No TDS on Discounts to Distributors , No Disallowance u/s 40(a)(i) : ITAT

By | March 6, 2020
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It can be seen from clause 2, 7, 8, 9, 14 and 19 of the “Agreement for the Supply of Cellular Mobile Phones” between HCL and the assessee that relationship between the assessee and HCL is that of principal to principal and not that of principal to agent. The discount which was offered to distributors… Read More »

No reassessment due to Retrospective Amendment in Sec 115JB

By | March 6, 2020
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HIGH COURT OF MADRAS Commissioner of Income-tax, Chennai v. Saint Gobain Glass India Ltd. DR. VINEET KOTHARI AND R. SURESH KUMAR, JJ. TAX CASE (APPEAL) NO. 8 OF 2013 DECEMBER  2, 2019   DR.Vineet Kothari, J. – The Revenue has filed this Appeal under Section 260A of the Income-tax Act calling in question the correctness of the order… Read More »

Section 68 addition deleted as LTCG are from Genuine Transactions by habitual investor

By | March 6, 2020
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The assessee is a habitual investor having portfolio of investment in shares in crores and is still holding investment in shares in several crores and is constantly engaged in investing in shares of various companies. IN THE ITAT DELHI BENCH ‘A’ Anoop Jain v. Assistant Commissioner of Income-tax, Central Circle-53(1), New Delhi BHAVNESH SAINI, JUDICIAL… Read More »

Amendment in Export Policy of APIs and formulations made from these APIs

By | March 5, 2020
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The Government has made amendments in the export policy and restricted export of specified APIs (Active Pharmaceutical Ingredients) and formulations made from these APIs. A notification issued by Directorate General of Foreign Trade, M/o Commerce and Industry says that the restrictions will come into immediate effect and until further orders.  The notification covers following APIs… Read More »

Kerala GST department forms GST Grievance Redressal Committee

By | March 5, 2020
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File No. CT/79/2020-C7 GOVERNMENT OF KERALA, KERALA STATE GOODS AND SERVICES TAX DEPARTMENT Notification No. 1/2020-State Tax No.CT/79/2020-C7 Thiruvananthapuram Dated :20/02/2020 The GST Council in its 38th meeting held on 18-12-2019 has decided to establish a structured Grievance Redressal Mechanism for the taxpayers under GST to tackle their grievances on GST related issues of specific… Read More »

DIN guards against any misuse by mischievous elements- CBIC Chairman

By | March 5, 2020
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Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs North Block, New Delhi-110 001 Tel. No. : +91-11-23092849, Fax No. : +91-11-23092890 E-mail : ajit.m@gov.in M. Ajit Kumar, Chairman D.O.No.04/CH(IC)/2020 2nd March, 2020 Dear Colleague It is indeed heartening to begin this letter with news of some note-worthy work by our… Read More »

Committee formed to look into existing Transfer/Placement Guidelines for IRS officers

By | March 5, 2020
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Government of India Directorate of Income Tax (HRD) Central Board of Direct Taxes 2nd Floor, Jawaharlal Nehru Stadium, Gate-1, New Delhi-110003 F. No. HRD/AD/953/1/2019-20/8434 Date: 03.03.2020 ORDER With the approval of Competent Authority following Committee is formulated to look into the existing Transfer/Placement Guidelines for IRS officers. The Department has undergone comprehensive restructuring and with including… Read More »