Assessee Must Clearly Establish 'Movement Of Goods' To Defend Allegations Of Accommodation Entries: Delhi HC
1 day, 3 hours ago

Assessee Must Clearly Establish 'Movement Of Goods' To Defend Allegations Of Accommodation Entries: Delhi HC

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The Delhi High Court has made it clear that merely producing transaction documents to establish that payments were made to an entity is not sufficient to defend the allegations of accommodation entries. A division bench of Acting Chief Justice Vibhu Bakhru and Justice Tushar Rao Gedela observed, “The documents provided by the petitioner would establish that the payments had been made to Shri Ajay Gupta through banking channels. However, it does not appear that any such information was provided by the petitioner to the AO.” In the case at hand, Petitioner was issued reassessment notice since as per the Tax authorities, Ajay Gupta was not a genuine entity and the payments made to it by the Assessee against certain purchases were suspected to be accommodation entries. The Petitioner's response however, the Court said was inadequate, since it merely claimed that purchases made from Ajay Gupta were genuine purchases but, the Petitioner did not not address the allegation of accommodation entries. Appearance: Mr. Shahrukh Ejaz, Mr. Abhishek Kukkar, Ms. Palak Singh Parihar and Ms. Jahnavi Singh, Advocates for Petitioner; Mr. Gaurav Gupta, Senior Standing Counsel with Mr. Shivendra Singh and Mr. Yojit Pareek, Advocates for Respondent Case title: Abhishek Bansal v. Income Tax Officer, Ward 58, Delhi Case no.

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Assessing Officer Not Required To Examine Commercial Expediency Of Transaction When Evaluating Assessee's Explanation U/S 68 Of IT Act: Delhi HC
1 month, 2 weeks ago

Assessing Officer Not Required To Examine Commercial Expediency Of Transaction When Evaluating Assessee's Explanation U/S 68 Of IT Act: Delhi HC

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The Delhi High Court has made it clear that once an assessee offers explanation about nature and source of a credit transaction standing in its books, the burden of proof to show that such explanation is unsatisfactory shifts on the Assessing Officer.A division bench of Justices Vibhu Bakhru and Swarana Kanta Sharma further held that in evaluating the transaction so …

GST | Assessee Entitled To Fresh Notice If Initial Notice U/S 73 Was Missed Due To Being Uploaded Under 'Additional Notices' Tab: Allahabad HC
1 month, 4 weeks ago

GST | Assessee Entitled To Fresh Notice If Initial Notice U/S 73 Was Missed Due To Being Uploaded Under 'Additional Notices' Tab: Allahabad HC

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The Allahabad High Court has held that an assessee is entitled to fresh notices demanding unpaid tax or short tax under Section 73 of the Goods and Service Tax Act, 2017, if the initial notices were not duly communicated to the assessee. Ltd. v. State of UP whereby “benefit of doubt” was given to the assessee since notices issued to …

Tamil Nadu Urban Local Bodies Act Mandates 15 days' Time To Be Provided To Property Tax Assessee To Respond To Notice: Madras High Court
10 months ago

Tamil Nadu Urban Local Bodies Act Mandates 15 days' Time To Be Provided To Property Tax Assessee To Respond To Notice: Madras High Court

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The Madras High Court has held that Section 116A of the Tamil Nadu Urban Local Bodies Act, 1998, mandates that 15 days' time should be provided to the property tax assessee to respond to the notice before action is taken.The bench of Justice Senthilkumar Ramamoorthy has directed the respondent department to de-seal the restaurant.The petitioner/assessee has assailed a demand notice …

Information Triggering Reassessment Proceedings Needs To Be Furnished To The Assessee: Delhi High Court
1 year, 11 months ago

Information Triggering Reassessment Proceedings Needs To Be Furnished To The Assessee: Delhi High Court

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The Delhi High Court has held that the underlying information or material that formed the basis for triggering the assessment or reassessment proceedings was required to be furnished to the assessee.The division bench of Justice Rajiv Shakdher and Justice Tara Vitasta Ganju has noted that the petitioner has indicated that it will file a further response once the information or …

Delhi High Court Quashes Assessment Order For Not Giving Opportunity To File Objection To SCN
2 years, 6 months ago

Delhi High Court Quashes Assessment Order For Not Giving Opportunity To File Objection To SCN

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The Delhi High Court bench of Justice Manmohan and Justice Dinesh Kumar Sharma has quashed the assessment order as the assessee was not given an opportunity to file an objection to the show cause notice. The petitioner/assessee has challenged the reassessment notices for the assessment years 2014-15 and 2015-16 as well as the assessment orders passed under Section 147 read …

"Sensitive Server": Delhi High Court Directs CBI Enquiry To Ascertain Source Of Income Tax Dept Email Granting Adjournment To Assessee Firm
3 years, 5 months ago

"Sensitive Server": Delhi High Court Directs CBI Enquiry To Ascertain Source Of Income Tax Dept Email Granting Adjournment To Assessee Firm

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The Delhi High Court last week directed a CBI enquiry for ascertaining the source of an adjournment email allegedly sent by Income Tax Department to an assessee firm while warning initiation of action against either of the parties who would have forged the same.Observing that the matter was serious since one of the parties had either forged the document or …

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