Latest Statutes

The petitioner was directed to file an appeal within a period of one month. The appeal shall be disposed of within a further period of three months. The bank guarantee shall not be invoked pending appeal. The invocation of bank guarantee would depend upon the outcome of the appeal.

Asian Paints v. Asstt. State Tax Officer

  Sections 129 of CGST Act, 2017   GST
Payment received towards sale of software product to IBM India (P) Ltd. for limited use without giving right to reproduction and commercial exploitation could not be taxed as Royalty in terms of article 12 of the Ind-US DTAA.

Cast Software Inc. v. Dy. DIT

  Section 90   Direct Taxes
On entering into JDA being a registered document, there was a “transfer” as per section 2(47) and consequently capital gain was attracted.

Damodar Reddy v. ITO

  Section 2(47)(v)   Direct Taxes
The petitioner had raised above grounds based on the question of limitation. The writ petition was, however, disposed of without considering those contentions on merits. The matter was therefore, remanded back to the Single Bench for considering above grounds.

Sangeetha Jewellery v. State Tax Officer

  Section 174 of the KSGSTAct, 2017   GST
In view of CBDT Circular No. 5, dt. 20-2-1959, money brought into India by non-residents for investment purposes was not liable to Indian income-tax, therefore, addition under section 68 of share application money received from non-resident could not be sustained.

Shreenath Heritage Liquor (P) Ltd. v. ACIT

  Section 68   Direct Taxes
Assessment proceedings initiated under section 153C in case of other person, i.e., assessee without recording satisfaction by AO having jurisdiction over searched person, was void ab initio.

Sushil Golecha v. ACIT

  Section 153C   Direct Taxes
Where Revenue had failed to establish any nexus between the interest bearing funds and interest-free advances made by assessee to his relatives and friends and no cogent evidence was there on the file that secured loans have not been used by assessee for business purposes, therefore, disallowance made by AO under section 36(1)(iii) was not justified.

ACIT v. Rohit Kochar

  Section 36(1)(iii)   Direct Taxes
Where assessee was not furnished with reason for reopening the assessment by AO along with reassessment notice under section 148, the order of reassessment could not be upheld AO is duty bound to furnish the same, as the assessee could not be deprived of its right to file objections against issuance of notice.

Gulab L. Bodke v. ITO

  Section 148   Direct Taxes
There is no mechanism provided in the Constitution or any other statute for the Goods and Services Tax Council to adjudicate the grievances raised by the general public. There is no mechanism for consideration and disposal of representations made by the general public to the Council after conducting personal hearing of the parties who make such representations. Learned counsel for the writ petitioners has not brought to our notice any provision in the Constitution or any other statute which imposes a duty on the Goods and Services Tax Council to adjudicate on the grievances raised by the members of the general public with regard to imposition and levy of goods and services tax on any product.

UOI v. Shiyaad

  Section 2(36) of CGST Act, 2017   GST
Where assessee had received sales consideration partly in cash and partly in form of new flats to be constructed and to be allotted to assessee, investment in new flats amounted to investment for acquisition of new residential house and accordingly, assessee was entitled to claim exemption under section 54.

Pr. CIT v. Peter Savio Pereira

  Section 54   Direct Taxes
1 2