Delhi High Court Directs Income Tax Commissioner To Accept BCI's Form No.10 After Condoning Delay

The Delhi High Court has directed the income tax commissioner to accept Form No. 10 submitted by the Bar Council of India (BCI) after condoning the delay.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that the mandate of Section 119(2)(b) of the Income Act is to mitigate the genuine hardship of the assessee in certain circumstances and authorize the Commissioners...

Calcutta High Court Quashes Ex Parte Order Imposing Excise Duty On Incineration Of Lean Gas Used In Generation Of Electricity

The Calcutta High Court has quashed the ex parte order imposing excise duty on the incineration of lean gas used in the generation of electricity.The bench of Justice Md. Nizamuddin has remanded the matter back to the adjudicating authority concerned to pass a fresh adjudication order by allowing the petitioner to file an objection against the adjudication order by treating it as show...

S. 80IA(4) Deduction Available To Assessee Engaged In Developing Infrastructure Projects Like Roads, Canals: Gujarat High Court

The Gujarat High Court has allowed the deduction under Section 80IA(4) of the Income Tax Act to the assessee engaged in developing infrastructure projects like roads, canals, etc.The bench of Justice Bhargav D. Karia and Justice Niral R. Mehta has observed that the assessee has entered into a development of infrastructure facility agreement and not a work contract.The respondent or assessee...

NIC Notifies Blocking Of E-way Bills Without E-Invoice Details For B2B, B2E Transactions From March 2024

The National Informatics Centre (NIC) has notified the blocking of e-way bills without e-invoice details for B2B, and B2E transactions from March 2024.e-Invoice has been operationalised since October 2020 for taxpayers with Annual Aggregate Turnover (AATO) above Rs. 500 Crores and eventually in a phased manner, e-invoice generation is made mandatory for taxpayers with AATO above Rs. 5...

Investment In Shares In Indian Subsidiary 'Capital Account Transaction', Not Income: Delhi High Court

The Delhi High Court has held that investment in shares by a company in its Indian subsidiary is a “capital account transaction” which does not give rise to any income. Therefore, the same cannot be treated as income for taxation.Placing reliance on the earlier decision of Delhi High Court in Nestle SA v. Assistant Commissioner of Income Tax, the bench comprising of Acting Chief...

UP GST | No Interference Under Article 226 Unless Inherent Lack Of Jurisdiction Or Absence Of Relevant Material Established: Allahabad High Court

The Allahabad High Court has held that the writ court should not interfere in notice issued under Section 73 of the UP Goods and Service Tax Act, 2017 unless there is inherent lack of jurisdiction or complete absence of relevant material is alleged and established.Petitioner challenged the adjudication notice issued under Section 73 (Determination of tax not paid or short paid or...

CBDT Exempts Activity Of Investment In Financial Product By Non-Resident Where Income Received In Offshore Banking Unit

The Central Board of Direct Taxes (CBDT) has exempted the activity of investment in financial products by non-residents where income is received in the account of the non-resident maintained with the Offshore Banking Unit.The Board empowered under section 10(4G)(ii) of the Income-tax Act, 1961 notified the activity of investment in a financial product by the non-resident, in accordance with...

GST ITC Refund Can't Be Rejected Merely On Ground Of Non-Supply Of Authenticated Document: Delhi High Court

The Delhi High Court has held that an input tax credit (ITC) refund cannot be rejected merely on the grounds of the non-supply of authenticated documents.The bench of Justice Sanjeev Sachdeva and Justice Ravinder Dudeja has observed that the petitioner had uploaded documents; however, the system did not register the documents that were uploaded by the petitioner. The appellate authority...

Dept.'s Action Denying Immunity Benefit Merely Because Section 270A Penalty Was Initiated Is Erroneous: Rajasthan High Court

The Rajasthan High Court has held that the department's action of denying the benefit of immunity on the ground that the penalty was initiated under Section 270A of the Income Tax Act for misreporting of income is not only erroneous but also arbitrary and bereft of any reason, as in the penalty notice, the respondents have failed to specify the limb, "under-reporting" or "misreporting" of...

Areca Nuts Have Limited Shelf-Life, Risk Of Contamination: Madras High Court Directs Verification Of Certificate Of Origin

The Madras High Court has directed the verification of certificate of origin within 30 days and in case of failure of verification within time release the seized areca nut is subject to providing a bond for 100% of the value of goods but without insisting on a bank guarantee.The bench of Justice Senthilkumar Ramamoorthy has observed that areca nuts have a limited shelf-life and the risk...

Employee Accepted Salary After TDS Deduction, Employer Responsible For Non-Deposit: Delhi High Court

The Delhi High Court has held that the employee accepted salary after TDS deduction and the employer is responsible for non-deposit of TDS.The bench of Justice Rajiv Shakdher and Justice Girish Kathpalia has observed that the petitioner/employee, having accepted the salary after the deduction of income tax at source, had no further control over it in the sense that thereafter it was the duty...

Order Cancelling GST Registration With Retrospective Effect Bereft Of Reasons, Liable To Be Quashed: Delhi High Court

The Delhi High Court has quashed the order cancelling GST registration with retrospective effect, bereft of reasons.The bench of Justice Sanjeev Sachdeva and Justice Ravinder Dudeja has observed that one of the consequences of cancelling a taxpayer's registration with retrospective effect is that the taxpayer's customers are denied the input tax credit availed in respect of the supplies made...