Tag: Latest case laws

Judiciary updates (Income Tax)-03rd November 2021

Posted on by Business So Simple in Income Tax, Legal awareness

Faceless Assessment Order passed without issuance of Draft Assessment Order quashed by HC

Shreeji Investment & Advisory Services Vs National Faceless Assessment Centre (Bombay High Court) dated 25/10/2021

Interest on FD/Bonds constituting business income can be included for Partners remuneration calculation

DCIT Vs Niyati Construction Co. (ITAT Ahmedabad) dated 25/10/2021

No section 271(1)(c) penalty for Mere claim of wrong deduction

PCIT Vs Sonu Realtors Private Limited (Bombay High Court) dated 11/10/2021

Income assessed by CPC, Bangalore cannot be taken as returned income

Ranuj Nagrik Sahakari Bank Ltd. Vs ITO (ITAT Ahmedabad) dated 08/06/2021

Profit attribution not permissible in absence of PE in India

ACIT Vs Ericsson, AB Sweden (ITAT Delhi) dated 27/10/2021

No Penalty for failure to maintain books when Assessee submitted Audit Report & Audited Accounts

Aum Jewels Vs ITO (ITAT Delhi) dated 21/09/2021

Regards,

Bipul Kumar

Judiciary updates-01st Nov 2021

Posted on by Business So Simple in Income Tax, Legal awareness

Dishonour of Cheque issued as Security attracts Section 138 of N.I. Act: SC

Sripati Singh (since deceased) Through His Son Gaurav Singh Vs State of Jharkhand & Anr. (Supreme Court of India) dated 28/10/2021

HC Grants Bail to Person Accused of Money Laundering/Hawala Business

Lal Pabbi Vs Directorate of Enforcement (Punjab & Haryana High Court) dated 27/10/2021

Ad hoc service not to be considered for determining the seniority

 Malook Singh and Others Vs State of Punjab and Others (Supreme Court of India) dated 28/09/2021

Oral hearing is important ingredient of justice delivery system: HC

 Md. Abul Kalam Vs Union of India (Gauhati High Court) dated 27/09/2021

Detention order passed without application of mind is liable to be vitiated

Gopal Gupta Vs Union of India & Ors. (Delhi High Court) dated 06/08/2021

Tribunal can also amend its order for mistake of counsel for parties (Income tax)

 Federal Mogul Goetze (India) Limited Vs ACIT (Delhi High Court) dated 22/10/2021

Section 12A Registration cannot be denied merely for Leasing of Developed Plots to Members

Confederation of Pharma Dealers Association Vs CIT (Exemption) (ITAT Raipur) dated 27/10/2021

Regards,

Bipul Kumar

Judiciary updates (Income Tax) -30th October 2021

Posted on by Business So Simple in Income Tax

No section 271D Penalty on wife for receiving money from husband for purchase of family property

Smt. Meera Devi Kumawat Vs JCIT (ITAT Jaipur): ITA No. 1201/JP/2019 dated 21/10/2021

TPO duty bound to determine ALP by following any one of prescribed methods

Firemenich Aromatics Production (India) Pvt. Ltd. Vs ACIT (ITAT Mumbai) dated 26/10/2021

Section 36 deduction permitted if expenditure is not for extension of business activity

CIT Vs Ceebros Hotels P Ltd. (Madras High Court) dated 05/10/2021

Depreciation allowable on home-theatre used for business purpose

DCIT Vs Tally Solutions Pvt. Ltd. (ITAT Bangalore) dated 14/10/2021

If AO made addition on estimated GP basis than other item-wise disallowance should not be made

Devyani Tex Chem Pvt. Ltd. Vs ACIT (ITAT Surat) dated 22/06/2021

Deemed dividend not attracted on Loan Taken on interest

DCIT Vs Heilgers Development & Construction Company Pvt. Ltd (ITAT Kolkata) dated 18/08/2021

Activity of Providing Affordable Housing by MHADA is Charitable in Nature

Maharashtra Housing & Area Development Authority (MHADA) Vs DCIT (ITAT Mumbai) dated 13/10/2021

ROC expense for enhancement of share capital not allowable

Moldtek Packaging Ltd. Vs ACIT (ITAT Hyderabad) dated 02/07/2021

Addition under section 69A unsustainable for cash deposited as facilitator

Ashish Natvarlal Vashi Vs ITO (ITAT Surat) dated 11/05/2021

Regards,

Bipul Kumar

Judiciary updates-27th Oct 2021 (Income tax, GST & Corporate Laws)

Posted on by Business So Simple in Banking, Company Law, Competition Law, GST, Income Tax, International Taxation, Legal awareness

GST

SC: Nature of levy cannot be determined with nomenclature ascribed to Tax

Jalkal Vibhag Nagar Nigam dated SC 22 Oct 2021

Opinion under Section 83 of CGST Act should be strictly based upon material facts

Mutharamman & Co. (Madras HC dated 05/10/2021)

Income Tax

Section 12AA registration cannot be denied without examining the activities

ICRW Group Gratuity Trust Vs CIT (Exemption) (ITAT Delhi) dated 21/10/2021

ITAT explains basic conditions for Satisfaction of reimbursement Claim

Rieter Machine Works Limited Vs ACIT (ITAT Pune) dated 21/10/2021

No attribution of profit in absence of permanent establishment

ESPN Star Sports Mauritius Vs DCIT (ITAT Delhi) dated 20/10/2021

HC dismisses writ petition as petitioner is having alternative statutory remedy of appeal

Ankit Gupta Vs National Faceless Assessment Centre (Rajasthan High Court) dated 21/10/2021

Corporate Laws

Sec 138 NI Act: Complaint comes to an end Once Accused & Complainant Enter into a Settlement Agreement: SC

Gimpex Private Limited Vs Manoj Goel (Supreme Court of India)  dated 08/10/2021

Authorities shall provide opportunity of hearing before arriving at any figure in demand Notice

Golden Trees Plantation Limited Vs Securities And Exchange Board of India (Gujarat High Court) dated 06/09/2021

Calculating limitation period for proceedings under IBC?

V Nagarajan Vs SKS Ispat and Power Ltd.& Ors. (Supreme Court of India) dated 21/10/2021

HC asks govt to keep vigil on ‘Rising Frauds in Aadhaar Enrollment

Naresh Kumar R.P. Vs State of Karnataka (Karnataka High Court) dated 30/09/2021

Benami Act, 1988, would not extend to properties purchased by the company

Kalyan Buildmart Pvt. Ltd. Vs Initiating Officer (Rajasthan High Court) dated 06/10/2021

Regards

Bipul Kumar

Judiciary updates -18th Oct 2021

Posted on by Business So Simple in Legal awareness

Benami Act, 1988, would not extend to properties purchased by the company

Kalyan Buildmart Pvt. Ltd. Vs Initiating Officer (Rajasthan High Court) dated 06/10/2021

NCLT admits RBI application for initiating CIRP against Srei Infra

Reserve Bank of India Vs Srei Infrastructure Finance Limited (NCLT kolkata) dated 08/10/2021

No limitation period in case of usufructuary mortgage: SC

Ram Rattan (Dead) By Lrs. Vs Devi Ram & Ors. (Supreme Court of India) 07/10/2021

Judgment debtor cannot raise objections to executions in installments: SC

Dipali Biswas & Ors. Vs Nirmalendu Mukherjee (Supreme Court of India) dated 05/10/2021

SC Guidelines on grant of bail to accused not arrested during investigation post filing of Chargesheet

Satender Kumar Antil Vs Central Bureau of Investigation and Anr. (Supreme Court of India) dated 07/10/2021

Regards,
Bipul Kumar

Judiciary updates (Finance) – 15 Oct 2021

Posted on by Business So Simple in Banking, Financial Prudence, Legal awareness

Sec 138 NI Act: Complaint comes to an end Once Accused & Complainant Enter into a Settlement Agreement: SC
Gimpex Private Limited Vs Manoj Goel (Supreme Court of India)

Sec 138 NI Act- Complainant to prove the existence of a debt

V.P. Zacharia Vs State of Kerala (Kerala High Court) 

Section 138 NI Act Directors responsible if they were in charge of & responsible for conduct of business of company: SC

Ashutosh Ashok Parasrampuriya Vs Gharrkul Industries Pvt. Ltd. (Supreme Court of India) 

Sec 138 NI Act- Salutation Like Mr./M/s. while Drawing Cheque are Irrelevant
N. Raveendran Vs Shajahan (Kerala High Court)

Preventive detention order unsustainable on stale or illusory grounds having no real nexus with past prejudicial activity

Naveen Kasera Alias Naveen Agrawal Vs. Union of India (Delhi High Court)

NI Act | Section 139 Presumption if signature on cheque is admitted

Triyambak S. Hegde Vs Sripad (Supreme Court of India) 

Regards,
Bipul Kumar

Latest Landmark Judicial Updates (Supreme Court) -14th Oct 2021

Posted on by Business So Simple in Legal awareness

Will cannot be doubted merely for Exclusion of brother or sister: SC

V. Prabhakara Vs Basavaraj K. (Dead) By Lr. & Anr. (Supreme Court of India) dated 07th Oct 2021

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In a contempt jurisdiction, Court cannot travel beyond original judgment: SC

V. Senthur And Another Vs M. Vijayakumar (Supreme Court of India) dated 01/10/2021

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SC allows CBI to continue investigation against ITO & her Husband now Minister in AP Govt

( Central Bureau of Investigation (CB) And Anr. Vs Thommandru Hannah Vijayalakshmi (Supreme Court of India) dated 08/10/2021

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Mere Revenue Record is not A Document of Title & not create any right : SC

( Prabhagiya Van Adhikari Awadh Van Prabhag Vs Arun Kumar Bhardwaj (Dead) Thr. Lrs (Supreme Court of India) dated 05th Oct 2021

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Onus to Prove Deficiency in Service is on Complainant: SC SGS India Ltd. Vs Dolphin International Ltd. (Supreme Court) dated 06/10/2021

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Mere Truthful Declaration of Criminal Cases cannot compel an Employer to Appoint a Candidate: SC

 (Union of India And Others Vs Methu Meda (Supreme Court of India) dated 06/10/2021

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Stamp Duty refund cannot be denied for delay in Application due to Judicial Proceedings
Rajeev Nohwar Vs Chief Controlling Revenue Authority Maharashtra State, Pune and Others (Supreme Court of India)
Dated 24 Sept 2021

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Beneficial scheme cannot run contrary to express terms of provisions

Union of India Vs Abhiram Verma (Supreme Court of India) dated 30 Sept 2021

Regards,
Bipul Kumar