Tax
Rajasthan High Court Quashed Notices Issued by the Assessing Officers U/S 148 of the Income Tax Act, 1961 for Reopening Assessments for Various Assessment Years
Providing relief to a batch of petitioners, the division bench of Rajasthan High Court quashed notices issued by the Assessing Officers under section 148 of the Income Tax Act, 1961 (Act of 1961) for reopening assessments for various assessment years. The petitioners have also challenged portions of two notifications issued by CBDT clarifying that provisions of Sections 148, 149 and...
Akin To Power To Issue & Serve Summons Under Order V CPC: Rajasthan High Court Upholds Constitutionality Of S.70 Rajasthan GST Act 2017
The Rajasthan High Court has dismissed a plea challenging the vires of Section 70 of Rajasthan GST Act, 2017 which provides for Power to summon persons to give evidence and produce documents. Section 70 reads thus:"Power to summon persons to give evidence and produce documents.- (1) The proper officer under this Act shall have power to summon any person whose attendance he...
Change Of Assessing Officer's Opinion Not Ground To Reopen Assessment U/S 147 Income Tax Act, Tangible Material Required: Bombay High Court
In a case under Section 147 of the Income Tax Act, 1961, the Bombay High Court has observed that where on consideration of material on record, one view is conclusively taken by the Assessing Officer, it would not be open to reopen the assessment based on mere change of opinion. The Court further held that assessment can be reopened under Section 148 only on the reasonable belief...
Scrutiny By Income Tax Department Barred For The Period Covered By The Resolution Plan: Telangana High Court
The High Court of Telangana in a Bench consisting of Justice Ujjal Bhuyan and Justice Chillakur Sumalatha in Sirpur Paper Mills Limited & Another. V. Union of India & Two Others held that for the period covered by the Resolution Plan, Income Tax Department cannot carry out any scrutiny or assessment in respect of the Corporate Debtor regarding carry forward of losses and set...
TDS On MACT Awards: Supreme Court Asks Centre To Look Into Unclaimed Refunds Of Claimants Who Are Not IT Assessees
The Supreme Court on Thursday directed the Central Government to look into the issue of money deduced from motor accident compensation awards as Tax Deducted at Source (TDS) lying as unclaimed refunds with respect to claimants who may not come within the bracket of Income Tax assesses. A bench comprising Justice Sanjay Kishan Kaul and Justice MM Sundresh was hearing the case Bajaj Allianz...
Madras High Court Expunges 'Scathing' Remarks Against Actor Vijay In Entry Tax Case
In an appeal filed by Actor Vijay to remove the scathing remarks made by the single judge bench while dismissing his petition for tax exemption on a Rolls Royce Ghost Motor Car, Madras High Court has expunged the observations made by single judge bench in paras 3,4,7,8, 11 and 12 of the original order.Today, a Division Bench of Justices Pushpa Sathyanarayana and Mohammed Shaffiq allowed the...
Rajasthan High Court Upholds Section 54 CGST Act Pertaining To Tax Refund
The Rajasthan High Court, Jaipur Bench has upheld the vires of Section 54 of the Central Goods and Services Tax Act, 2017 and Rajasthan Goods and Services Tax Act, 2017. The same pertains to Refund of tax.Noting that the Supreme Court has already upheld the vires of the statutory provision in question, the division bench comprising Chief Justice Akil Qureshi and Justice Sameer...
Uttarakhand High Court Stays Circular Restricting Filing Of GST Refund For Tax Periods Spread Across Two Financial Years In Chronological Order
The Uttarakhand High Court has stayed the operation of a Circular issued by the Revenue Authorities, to the extent it inhibits refund claims for a period of two separate (not successive) financial years and requires filing of Refund in a chronological manner.The Bench comprising of Justices Sanjaya Kumar Mishra and Alok Kumar Verma has stayed para 8 of the Circular No. 125/44//2019-GST...
Tax Exemption Notification Must Be Construed Strictly; Promissory Estoppel Not Applicable In Taxing Matters: Supreme Court
On Friday, the Supreme Court reinstated the order of the Revenue levying demand of purchase tax and imposing penalty on Arcelor Mittal Nippon Steel India Limited (erstwhile Essar Steel Ltd.) for availing tax benefits without fulfilling all the eligibility criteria/condition of the Scheme For Special Incentives to Prestigious Units floated by the Gujarat Government in 1991.The Court held...
IT Portal Glitches: CBDT Assures Gujarat High Court To Resolve Issues Of Assessees, Specifies Its Grievance Mechanism
The Central Board Of Direct Taxes (CBDT) today assured the Gujarat High Court that it shall attend to the grievances of the assessee (intending to file ITR and Tax Audit Reports) regarding the technical glitches existing on the Income Tax Portal.The Bench of Justice J. B. Pardiwala and Justice Nisha M. Thakore was also told about the grievance mechanism that has been employed by the Board to...
CBDT Says 'No' To Physical Filing Of ITR, Audit Reports; Gujarat HC Seeks Board's Assurance To Attend To Assessees' Problems
"Even on 10th of February, just 5 days before the deadline (for ITR, Audit reports filing), if problems are still faced then we will extend the deadline. There will be an issuance of the writ, which will have its effect across the country" : Says Gujarat HC