Yearly Archive: 2019

Form FiLLiP is likely to be revised on MCA21 LLP Forms Download page w.e.f. 29th June, 2019. Stakeholders are advised to check the latest version before filing.

Form FiLLiP is likely to be revised on MCA21 LLP Forms Download page w.e.f. 29th June, 2019. Stakeholders are advised to check the latest version before filing.

November 16, 2019

Registered U/s 12AA gives advance to trust not registered u/s 12AA where trustee are entitled for 20% of profits of the said concern.- exemption u/s 11 will be denied.

Advance by a society registered U/s 12AA to trust not registered u/s 12AA and the the trustee are entitled for 20% of profits of the said concern.-Then as per Explanation 3 to section 13 of the Act, it is called…
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11, 12AA, 13(1), 13(1)(b), 13(2)(a), explanation 3 to section 13, Kolkata tribunal

November 16, 2019

Amount found deposited in a foreign bank is taxable in India u/s 68 & 69 if the assessee is a “Not Ordinary Resident” and to check the residential status of the assessee we have to understand section 6(1) of the Income Tax act 1961.

Amount found deposited in a foreign bank is taxable in India u/s 68 & 69 if the assessee is a “Not Ordinary Resident” and to check the residential status of the assessee we have to understand section 6 of the…
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6, 68, 69, Bobmay High Court, residential status

November 16, 2019

Tribunal can not dismiss an appeal for default of non appearance of the assessee or his council appeal has to decided on merits.

Friends, Madras high Court hold that the tribunal can not dismiss an appeal for default of non appearance of the assessee or his council. It was father hold that there is a legal and binding responsibility lies upon the Tribunal…
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254, 260A, madras High Court, Rule 24 of Appellate Tribunal, Supreme Court

November 16, 2019

BANGALORE TRIBUNAL on 4.6.2019 held that 271(1)(c) – non strike of limb in SCN-No penalty can be imposed. DESAI AND COMPANY vs. DCIT

BANGALORE TRIBUNAL on Jun 4, 2019 hold that the show cause notice u/s. 271(1)(c) of the Act in printed format having the charge “concealing particulars of income” or “furnishing of inaccurate particulars of income”. Since the AO failed to strike…
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271(1)(c), 274, AY 2006-07, Bangalore Tribunal, In Favour of Assessee, ITAT

November 16, 2019

धारा 133(6) 131(1) के संबंध में महत्वपूर्ण जानकारी

धारा 133(6) 131(1) के संबंध में महत्वपूर्ण जानकारी:- धारा 133(6) कर निर्धारण अधिकारी, अपीलेट अथॉरिटी करदाता या किसी बैंक से आयकर कानून की इंक्वारी या प्रोसीडिंग को पूरी करने के उद्देश्य से किसी भी इंफॉर्मेशन को प्रस्तुत करने के लिए…
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131(1), 133(6), Bobmay High Court, Bombay Tribunal, Calcutta High Court, Nagpur tribunal, Supreme Court

November 16, 2019

Reassessment—Income escaping assessment -Since the sale consideration has been accepted ‎by the Department itself in the case of the purchaser no case is made out in initiating ‎proceedings under section 147 of the Act in the case of the seller of the property. This ‎amounts to approbation and reprobation, which is not permissible under the law. The ‎Department cannot blow hot and cold in the same breath, accepting the position in the case of ‎the purchaser, while calling it in question in the case of the seller, i.e., the assessee. Holding it ‎to be a mere change of opinion, the initiation of proceedings under section 147 of the Act in ‎the case of the assessee is held to be null and void. Accordingly, the initiation of proceedings ‎under section 147 of the Act, and everything pursuant to such initiation, culminating in the ‎order under appeal, are quashed.‎

Reassessment—Income escaping assessment -Since the sale consideration has been accepted by the Department itself in the case of the purchaser no case is made out in initiating proceedings under section 147 of the Act in the case of the seller of…
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147, 148, LUCKNOW TRIBUNAL

November 16, 2019

Sec 276B- TDS deducted and deposited after a long period of 12 months -First ‎time mistake-minimum 3 months rigorous imprisonment and fine- Deductor is ‎not supposed to finance their business through Government money

276B default in TDS deposit CNR No. MHMM200001812014 Complaint filed on : 26.03.2014. Complaint registered on:26.03.2014. Decided on : 25.04.2019 Duration : 05Y. & 29D. IN THE COURT OF ADDL. CHIEF METROPOLITAN MAGISTRATE, 38th COURT, BALLARD PIER, MUMBAI (Presided over…
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200, 204, 276B, 279(1), 313 of CRPC, ACMM COURT BALLARD PIER MUMBAI, Chief Metropoliton Magistrate COURT BALLARD PIER MUMBAI, Rule 30

November 16, 2019

The proceedings u/s 153C could be initiated against a party only if the document seized ‎during the search and seizure proceedings of another person belonging to the assessee ‎concerned. ‎

The proceedings u/s 153C could be initiated against a party only if the document seized during the search and seizure proceedings of another person belonging to the assessee concerned. Unless, the AO of the searched person has arrived at a…
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153C, ITAT Mumbai

November 16, 2019

Not providing opportunity for cross examine

Decision for not providing opportunit for cross examine

November 16, 2019