Failure Of AO To Take Concrete Steps To Ascertain The Genuineness And Creditworthiness Of Transactions: Delhi High Court

The Delhi High Court has held that the AO has not taken any concrete steps to ascertain the genuineness and creditworthiness of the transactions.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that clause (a) of Explanation 2 of Section 263 of the Act introduces a deeming fiction to the effect that the order passed by the AO shall be considered erroneous...

Tribunal's Discretion To Dispense Obligation To Deposit Duty/Interest Or Penalty In Cases Of Undue Hardships: Delhi High Court

The Delhi High Court has held that the proviso to Section 129E of the Customs Act, 1962, gives discretion to the Tribunal in cases of undue hardships to dispense the obligation to deposit the duty, interest, or penalty.The bench of Justice Sanjeev Sachdeva and Justice Ravinder Dudeja has observed that the application for waiver of pre-deposit was dismissed by the Tribunal, and the writ...

S.144B Income Tax | Burden to Provide Registered Email Shifts On Assessee Only If It Can't Be Obtained From ITR/Portal/MCA Website: Allahabad HC

The Allahabad High Court has held that the provision requiring the assesee to provide his “registered email address” to the income tax authorities under Section 144B of the Income Tax Act, 1961 is residuary in nature.The Court held that if the assessing authority is unable to obtain the registered email address from the income tax returns or from the designated portal of assesee or website...

10% of Demand Already Paid By Assessee, Madras High Court Allows Cooperative Bank's Writ Appeal By Waiving 10% Pre-Deposit

The Madras High Court has waived the condition of payment of a 10% pre-deposit as the 10% demand was already paid by the assessee.The bench of Justice R. Mahadevan and Justice Mohammed Shaffiq have observed that the single judge, while taking note of the financial hardship expressed by the assessee, modified CIT (TDS)'s order and permitted the assessee to deposit the amount in three...

Pre-Deposit Of 20% Demand Is Not Precondition For Consideration Of Stay Application During Pendency Of First Appeal: Delhi High Court

The Delhi High Court has held that a 20% pre-deposit demand is not a precondition for consideration of a stay application during the pendency of the first appeal.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that the respondent department has clearly erred in proceeding on the assumption that the application for consideration of outstanding demands...

Assessing Officers Are Not Governed By Strict Rules Of Indian Evidence Act, 1872 In Case Of Assessment Proceedings: Madras High Court

The Madras High Court has held that assessing officers are not governed by the strict rules of the Indian Evidence Act, 1872.The bench of Justice C. Saravanan has observed that the assessment proceedings under the Income Tax Act, 1961, before an assessee officer are not judicial proceedings. It is a quasi-judicial proceeding before a quasi-judicial officer. The provisions of the Evidence...

Wilful Failure To Furnish Return As Per Sec 139(1) Is Only Criterion For Initiation Of Prosecution U/s 276CC: Madras High Court

The Madras High Court recently highlighted that provision of Section 278E of the Income tax Act brings in a statutory presumption regarding the existence of a culpable mental state. Accordingly, the High Court refused to interfere in the criminal proceedings and relegated the petitioner/ taxpayer to the trial, while stating that the onus is upon the petitioner to prove the...

CBDT Expands Scope Of Appeal Filing By Dept. Before ITAT, High Court And Supreme Court, Retains Monetary Limits

The Central Board of Direct Taxes (CBDT) has issued a circular under section 268A of the Income-tax Act, 1961 for filing of appeals by the Department before Income Tax Appellate Tribunal, High Courts and SLPs/appeals before Supreme Court as a measure for reducing litigation.The board has retained the monetary limits at Rs.50 lakhs, Rs.1 Crore and Rs.2 Crores for filing appeals before ITAT,...

Gujarat High Court Grants Bail in Rs. 1466 Crore Alleged GST Scam Case

The Gujarat High Court has granted bail to a man in a case involving an alleged GST scam amounting to Rs. 1466 crores. This ruling came following an application filed by the accused under Section 439 of the Code of Criminal Procedure, 1973, for regular bail in connection with a case registered with the Directorate General of GST Intelligence, Rajkot,The Senior Advocate appearing on behalf of...

Gujarat High Court Grants Bail To Co-Accused In Rs. 700 Crore GST Scam Case Involving Tax Amount Of 35 Crores

The Gujarat High Court has dismissed a petition filed by the State against the order granting regular bail to an accused in a multi-crore scam case.The ruling came in a Criminal Miscellaneous Application filed under Section 439(2) of the Code of Criminal Procedure, 1973, whereby the petitioner State prayed to quash and set aside the order dated 11.11.2021, passed by the District and...

Tax Recovery Officer Cannot Declare Sale Made By Assessee In Favour Of 3rd Party As Void: Madras High Court

The Madras High Court has held that a tax recovery officer cannot declare a sale made by the assessee in favour of a third party void if he finds that the property of the assessee was transferred by the assessee to a third party with an intention to defraud the revenue. The bench of Justice C. Saravanan has observed that the Income Tax Department will have to file a suit in terms of Rule 11...

Gujarat High Court Grants Bail In Case Of Alleged Issuance Of Invoices Without Supply Of Goods Under CGST Act

The Gujarat High Court has granted bail for an individual implicated in a case related to an FIR filed under Sections 132(1)(b) and (1) of the Central Goods & Services Tax Act, 2017. The case revolves around the purported issuance of GST invoices without actual delivery of goods, allegedly resulting in a significant financial loss to the government treasury.Justice Divyesh A Joshi...