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 ...
Writ Petition – Recovery of Sales Tax – Petitioner impugns Ext.P1 and Ext.P4 notices related to recovery of Sales Tax dues along with interest and collection charges – Petitioner challenges the authority of the District Collector to grant installments under Kerala General Sales Tax Act and Rules. [Para 2-3]
Statutory Provisions – Kerala General Sales Tax Rules, 1963, and...
Personal Injury Compensation - Motor Vehicle Accident - Assessment of compensation for injuries sustained in a road accident - Claimant suffered multiple fractures to the left ankle, underwent surgeries, and incurred medical expenses - Claimant's income assessed based on income tax return prior to the accident - Assessment of permanent physical disability and future loss of earnings - Award fo...
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...
Jurisdiction - Central Goods and Services Tax Act, 2017 - Remittance for re-adjudication - Challenge to the order disposing of the Show Cause Notice proposing a demand against the petitioner - Allegation of non-receipt of notice due to retrospective cancellation of GST registration - High Court finds merit in petitioner's contention and sets aside the impugned order - Matter remitted to Proper...
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...
Interest on Compensation – Land Acquisition Act, 1894 – Examination of taxability of interest earned on compensation or enhanced compensation ordered under Land Acquisition Act, 1894 – Question of whether such interest falls under Income Tax Act, 1961 provisions [Paras 1, 18].
Income Tax Appellate Tribunal (ITAT) Decision – Reversed by High Court – ITAT deleted add...
Quashing of Section 153C Notices – Writ Petitions challenging validity – Notices under Section 153C of the Income Tax Act, 1961 quashed for most petitioners - Held – Notices unsustainable when no incriminating material related to assessment years in question found during search - Section 153C empowers reopening of six assessment years immediately preceding year of search, subject...
Section 138 of the Negotiable Instruments Act (N.I. Act) – Petitioner challenges the judgment and order of conviction and sentencing by the lower courts – Petitioner alleged to have borrowed a sum of Rs. 8,00,000/- from the complainant and issued three cheques which were dishonored – Trial court convicted the petitioner, and the appellate court affirmed the judgment – Petit...