Faceless Assessment set aside as passed without considering assessee’s request for adjournment : High Court

By | March 4, 2022

Faceless Assessment set aside as passed without considering assessee’s request for adjournment : High Court HIGH COURT OF HIMACHAL PRADESH Preethi Himachal & Co. v. Union of India MOHAMMAD RAFIQ, CJ. AND MS. SABINA, J. CIVIL WRIT PETITION NO. 3538 OF 2021 NOVEMBER  16, 2021 Amar Pratap Singh and Jyotirmay Bhatt, Advs. for the Petitioner. Balram Sharma, Asstt. Solicitor General… Read More »

Income earned by Govt company on Unutilized Funds before commencement of operation is not Taxable : High Court

By | March 4, 2022

HIGH COURT OF KARNATAKA Commissioner of Income-tax, Bangalore v. Bangalore Metro Rail Corpn. Ltd. MRS. S. SUJATHA AND HANCHATE SANJEEV KUMAR, JJ. IT APPEAL NOS. 117 AND 118 OF 2015 NOVEMBER  23, 2021 K.V. Aravind, Adv. for the Appellant. A. Shankar, Sr. Adv. and G. Venkatesh, Adv. for the Respondent. JUDGMENT Mrs. S. Sujatha, J. – These appeals are filed by the… Read More »

Income Tax Department conducts searches on BMC Mumbai , Tax Evasion of Rs 200 Crore

By | March 4, 2022

Income Tax Department conducts searches in Mumbai Posted On: 03 MAR 2022 The Income Tax Department carried out search and seizure operations on 25.02.2022 on certain contractors executing contracts of Brihanmumbai Municipal Corporation (BMC), a prominent person and their close associates. In all, more than 35 premises in Mumbai have been covered during the search… Read More »

Income Tax Department conducts searches in a major Telecom Group , suppression of income of Rs. 400 crore has been detected.

By | March 4, 2022

Ministry of Finance Income Tax Department conducts searches in a major Telecom Group The Income Tax Department conducted search & seizure operations on a multinational group, engaged in distribution of telecom products and providing captive software development services, on 15.02.2022. The ultimate shareholding of the group lies with a foreign entity of a neighbouring country.… Read More »

Interest can not charged u/s 220 if the amount on which interest was payable was extinguished : High Court

By | March 4, 2022

Interest can not charged u/s 220 if the amount on which interest was payable was extinguished HIGH COURT OF BOMBAY Union of India v. Dodsal Ltd. K.R. SHRIRAM AND AMIT B. BORKAR, JJ. WRIT PETITION NO.301 OF 2000 DECEMBER  9, 2021 Sham V. Walve, Dinesh Kukreja and Pritish Chatterjee for the Petitioner. Ms. Shobha H. Jagtiani, Priyanshu Khatri and Ms. Anjali Jhawar for the Respondent. JUDGMENT Amit… Read More »

Deduction allowed for Employee’s contribution to ESI/PF paid before filing of ITR for AY prior to AY 2021-22 : ITAT

By | March 4, 2022

Employee’s contribution to ESI/PF paid before filing of ITR for AY prior to AY 2021-22 IN THE ITAT BANGALORE BENCH ‘SMC-B’ B. R. S. Precision Manufacturing (P.) Ltd. v. Deputy Commissioner of Income-tax, Bengaluru N.V. VASUDEVAN, VICE PRESIDENT IT APPEAL NO. 620 (BANG) OF 2021 [ASSESSMENT YEAR 2018-19] DECEMBER  23, 2021 Ganesh R. Ghale, Standing… Read More »

No sec. 271AAB penalty if not mentioned in Assessment Order : ITAT

By | March 4, 2022

IN THE ITAT NAGPUR BENCH Chandra Suresh Kothari v. Deputy Commissioner of Income-tax SANDEEP GOSAIN, JUDICIAL MEMBER AND O.P. KANT, ACCOUNTANT MEMBER IT APPEAL NOS. 125 & 126 (NAG.) OF 2021 [ASSESSMENT YEARS 2014-15 & 2015-16] DECEMBER  20, 2021 Hitesh P. Shah , (CA) for the Appellant. Pradeep Hedaoo, (CIT-DR) for the Respondent. ORDER Sandeep Gosain, Judicial Member. – Both these… Read More »

ITC is blocked on assignment rights of an industrial plot : AAR

By | March 4, 2022

ITC is blocked on assignment rights of an industrial plot : AAR AUTHORITY FOR ADVANCE RULINGS, GUJARAT J M Chemicals Trade Name Manjuben Rameshchandra Gupta (Legal Name), In re SANJAY SAXENA AND ARUN RICHARD, MEMBER ADVANCE RULING NO. GUJ/GAAR/R/55 OF 2021 (IN APPLICATION NO. ADVANCE RULING/SGST & CGST/2021/AR/29) OCTOBER  18, 2021 Darshan D. Jain, CA for the Applicant.… Read More »

USA IRS : Taxpayer Experience Office formally established to improve service across the IRS

By | March 4, 2022

Taxpayer Experience Office formally established to improve service across the IRS WASHINGTON – As part of a longer-term effort to improve taxpayer service, the IRS has officially established the first-ever Taxpayer Experience Office and will soon begin taking additional steps to expand the effort. “As the IRS continues taking immediate steps this filing season including… Read More »