Property Law – Registration of Sale Certificate – Denial based on Income Tax dues – Karnataka High Court’s direction to Sub-Registrar for mandatory registration despite pending dues – Importance of SARFAESI Act provisions emphasized – State Government directed to issue compliance circulars to Sub-Registrars – The petitioner sought mandamus directing the Su...
Customs Law – Burden of Proof – Seizure of Gold and Currency – Voluntariness of Statements – Section 123 of Customs Act – Appeal by Revenue challenging CESTAT order which reversed confiscation of gold and Indian currency from respondent – Tribunal held the seized gold to be made from old jewellery and not smuggled – Tribunal accepted respondent’s ret...
Income Tax Law – Appeal against ITAT order – Submission of Audit Report – High Court dismisses Revenue's appeal challenging ITAT's decision to allow assessee's exemption under Section 11 of Income Tax Act despite late filing of audit report in Form 10B – Tribunal's reliance on CBDT Circulars clarifying deadlines for returns accepted – No substantial qu...
Master Circular on Wilful Defaulters – Interpretation and Application – Forensic Audit Report – Validity and Reliance – Writ petitions challenging the decision of the Willful Defaulter Identification Committee and the Review Committee (RC) of the Central Bank of India declaring the petitioners as willful defaulters. The main evidence relied upon by the First Committee was a...
Taxation Law – Definition of Purchase Price under UPTTA, 1948 – Review Application filed by Commissioner of Trade Tax against the High Court's decision favoring Tata Steel Ltd. – Dispute over inclusion of MODVAT credit in the purchase price for trade tax purposes – High Court dismissed the review application, reiterating limited grounds for review under Order 47 Rule 1 ...
Taxation Law - Jurisdiction of Assessing Officer – Assessee challenges jurisdiction of non-jurisdictional AO, who proceeded with assessment in the absence of a valid transfer order under Section 127 – Initial centralization of assessee's case was not properly decentralized or officially transferred as per mandated legal process – Held, actions of the AO without proper transfe...
Taxation - Income Tax on Perquisites - Challenging Sections 17(2)(viii) and Rule 3(7)(i) of Income Tax Act and Rules regarding taxability of fringe benefits provided as concessional loans to bank employees - Bench upholds constitutionality of Section 17(2)(viii) and Rule 3(7)(i), dismissing the appeal - Held that the legislative intent was clear, and the rules did not constitute excessive delegati...
Procedural Violation in Show-Cause Notice – Appellant contested the show-cause notice issued by the WBGST Authorities on the grounds of procedural violations and denial of credit without verification from the supplier’s end – High Court found the show-cause notice and subsequent order denying Input Tax Credit (ITC) to the appellant as procedurally flawed and lacking jurisdiction&...
Income Tax – Bogus Share Application Money – ITAT deleted additions made by AO regarding unexplained share application money by verifying documentary evidence of identity, genuineness, and creditworthiness of the amounts received, which was upheld by the High Court due to lack of contrary material evidence from the Revenue. [Paras 13-14]
Real Estate Transactions – Un...
Income Tax – Reassessment Notice Validity – Challenge against reassessment notice issued under Section 148 and subsequent order under Section 148A(d) – Notice based on transactions with Mr. Manoj Sethi, alleged to have unexplained cash deposits – Petitioner contends all transactions were through cheques and fully disclosed during original assessments – Court finds no ...