Judicial updates-09th Feb 2022 (Income tax, GST & Corporate Laws)

ITAT Kolkata directs service of notice to Assessee’s Lawyer via email as same could not delivered to Assessee

Massive Infrastructure Pvt. Ltd. Vs ITO (ITAT Kolkata) dated 02/02/2022

Revaluation of Land by firm after conversion of inventory into fixed asset – colourable device?

PCIT Vs Orchid Griha Nirman Pvt. Ltd. (Calcutta High Court) dated 31/01/2022

*Tribunal agreed with CIT(A) that after conversion of inventory into fixed asset the firm revalued the developed land including construction thereon in order to bring it in line with the current market value to justify the business assistance secured by the firm from the banks to extent of nearly Rs. 250 crores. Therefore, on facts the tribunal concluded that the revaluation was not a colourable.
Confirmed by HC.

Failure to issue section 143(2) notice prior to finalising reassessment order makes reassessment proceedings a nullity

ACIT Vs P & R Infraprojects Ltd. (ITAT Delhi) dated 07/01/2022

ITAT deletes Addition of Profits from Suppressed of Sales belonging to Firm of director of Appellant Company

ITO Vs Super Hospitality Services Pvt. Ltd. (ITAT Ahmedabad) dated 31/01/2022

Interest on Investment made to acquire controlling interest allowable

Gujarat Nippon Enterprises Pvt. Ltd. Vs ITO (ITAT Ahmedabad) dated 01/02/2022

ESIC & PF paid before due date of filing income tax return allowable till AY 2020-21

Dr. B. Lal Clinical Laboratory Private Limited Vs ACIT (ITAT Jaipur) dated 20/01/2022

Filing of appeal in criminal court against Civil dispute amounts to abuse of process of Court: SC

Jayahari Vs State of Kerala (Supreme Court of India) dated 25/01/2022

CIT(E) Order passed without hearing Assessee during COVID-19 violates Principal of Natural Justice

Madhavi Raksha Sankalpa Vs CIT (Exemptions) (ITAT Mumbai) dated 28/01/2022

GST Evasion Case: Accused cannot be Detained in Custody Indefinitely- SC

Paresh Nathalal Chauhan Vs State of Gujarat (Supreme Court of India) dated 01/02/2022

The Hon’ble Supreme Court of India in Paresh Nathalal Chauhan v. The State of Gujarat & Anr. [SLP (Crl) No. 009458 – 009459/2021, Criminal Appeal Nos.164-165/2022 dated February 01, 2022] granted bail to a person accused of tax evasion. Held that, assessee cannot be detained for indefinite period of time when the maximum sentence for such offence is 5 years and investigation w.r.t. the same is still pending.

GST Appellate Authority can provisionally release goods & vehicle- HC

A K Enterprise Vs State of Gujarat (Gujarat High Court) dated 03/02/2022

ITC available on GST paid under RCM on hiring of buses for transportation of employees

In re Maanicare System India Private Limited (GST AAR Maharashtra) dated 01/02/2022

Matter pending before Competent Jurisdiction cannot be transferred for mere Temporary Shift In Residence

Silpa Shaji Vs Satheesh K.S. (Kerala High Court) dated 01/02/2022

Bar of Section 69(2) of Indian Partnership Act, 1932 not applicable to Transactions not in the course of business: SC

Shiv Developers Vs Aksharay Developers (Supreme Court) dated 31/01/2022

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