Misconduct and Disciplinary Action – Petitioner faced charges of unauthorized absence, misbehaviour, and irregularities, leading to suspension and disciplinary action including barring of increments – Original application to KAT challenging the penalty imposed was dismissed. [Paras 2, 3]
Judicial Review of Tribunal's Order – Petitioner sought High Court intervent...
Valuation of Shares – Section 56(2)(viib) Income Tax Act – Appellant challenged ITAT’s upholding of AO’s rejection of Discounted Cash Flow (DCF) Method in favor of Net Asset Value (NAV) Method for share valuation – ITAT’s decision questioned regarding its authority to substitute the valuation method – ITAT held DCF Method to be unrealistic, substituting it...
Trustees' Compensation for Relinquishing Trusteeship - Amounts received by trustees of Carmel Educational Trust for relinquishing their trusteeship not considered capital receipts for tax purposes - These amounts treated as individual income and assessed under appropriate head - Trust deed does not authorize trustees to relinquish positions for consideration [Para 8].
Construction...
Taxation – State Sales Tax – Silk Fabrics – The Supreme Court addressed the question of whether the Delhi Government was authorized to levy a state sales tax on silk sarees, considering the provisions of the Delhi Sales Tax Act, 1975, the Additional Duties of Excise (Goods of Special Importance) Act, 1957, and the interplay with the Constitution of India. The primary issue was th...
Taxation Law - Customs Law – Import Regulations – Obscenity – issue of whether the import of body massagers, perceived as adult sex toys, contravened the Customs Act, 1962, and the Indian Penal Code. The Court evaluated the interpretation of the term 'obscene' and its applicability to the imported goods under Customs Notification No. 1/1964-Customs. [Para 2, 4-6, 11...
Income Tax – Deduction of Tax at Source – Section 194-H – The Supreme Court clarified the applicability of Section 194-H of the Income Tax Act, 1961, concerning tax deduction at source on commission or brokerage payments. The issue involved the assessment of whether cellular service providers were liable to deduct tax at source on the income/profit component in the payments recei...
Income Tax Reassessment - Validity of Proceedings - Assessee's Failure to File Regular Balance Sheet and Profit and Loss Account for Assessment Years 1990-91, 1991-92, and 1992-93 - Discrepancy in Capital and Current Accounts - Assessee's Justification for Non-filing Based on Department's Seizure of Documents - Assessment Officer's Relying on Balance Sheet Submitted for Loan to Sou...
GST Registration Cancellation – Challenge against retrospective cancellation – Petitioner contests order dated 07.10.2022 for cancellation of GST registration from 02.07.2017 and the Show Cause Notice dated 23.09.2022 – Registration cancellation without proper justification or notice for retrospective effect deemed inappropriate. [Para 1, 5-7]
GST Compliance – ...
Petition for Quashing Complaint and Proceedings – Section 482 Cr.P.C. – Petitioners challenging Complaint No.1368 of 2014 and related orders for alleged tax evasion under Sections 276C and 278B of the Income Tax Act, 1961 – Argument of petitioners centered on no evasion of tax, only delayed payment with interest [Paras 1, 10].
Facts of the Case – Assessment Year 2012-13 ...
Anticipatory Bail in Economic Offenses – Fraudulent Input Tax Credit Claim – Involvement of Chirag Goel and Chaman Goel in a GST Input Tax Credit fraud of Rs.200 crores – Accused obtained anticipatory bail which was challenged by the Directorate General of GST Intelligence (DGGI) due to the serious nature of the economic offense and the attempt by Chaman Goel to leave the country...