UPVAT | Computation Of Correct ITC Be Examined By Assessing Authority Not Later Than Stage Of Making Regular Assessment Order: Allahabad High Court
10 months, 2 weeks ago

UPVAT | Computation Of Correct ITC Be Examined By Assessing Authority Not Later Than Stage Of Making Regular Assessment Order: Allahabad High Court

Live Law  

The Allahabad High Court has held that computation of correct input tax credit can only be done till the passing of the regular assessment order by the Assessing Authority and not at a later stage. Section 29 of the UPVAT Act empowers the Assessing Authority to initiate reassessment proceedings against an assesee if there is “reason to believe” that whole or part of the turnover has escaped assessment or has been assessed to tax at a lower rate than prescribed or if deductions and exemptions have been wrongly allowed. Even if it were a case of a tax evader, the rule of law would, by its very stature and basic requirement, commend to all quasi-judicial authorities including the assessing authority, to conduct their proceedings in a manner that may be fair and therefore inspire confidence in the noticee, irrespective of a his status - whether an honest tax-payer or a tax evader.” The Court held that ITC is not part of determination of turnover or tax liability but an allowance that arises to certain dealers in the prescribed manner, upon fulfillment of specified circumstances under the Act. The Court held that “the scheme of the Act is - the computation of correct ITC may be examined by the Assessing Authority, not later than the stage of making the regular assessment order i.e.

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History of this topic

[S.292B Income Tax Act] Inadvertent Mistakes In Reassessment Can Be Saved But Assessment Order Overlooking Apparent Error Cannot: Delhi HC
1 month ago

[S.292B Income Tax Act] Inadvertent Mistakes In Reassessment Can Be Saved But Assessment Order Overlooking Apparent Error Cannot: Delhi HC

Live Law  

The Delhi High Court has made it clear that Section 292B of the Income Tax Act, 1961 cannot be used to save an assessment order passed by overlooking errors apparent on face of the record. A division bench of Chief Justice Devender Kumar Upadhyay and Justice Tushar Rao Gedela said while the provision would save reassessment notice which inadvertently furnished …

High Court Within Whose Jurisdiction AO Passes Assessment Order Has Jurisdiction To Entertain Appeal U/S 260A Income Tax Act: Delhi HC
1 month, 2 weeks ago

High Court Within Whose Jurisdiction AO Passes Assessment Order Has Jurisdiction To Entertain Appeal U/S 260A Income Tax Act: Delhi HC

Live Law  

The Delhi High Court has reiterated that only such High Court within whose jurisdiction the Assessing Officer passing an impugned assessment order is situated would have the jurisdiction to entertain an appeal under Section 260A of the Income Tax Act, 1961. It submitted that since the original assessment order was passed by the AO in Amritsar, therefore, Delhi High Court …

AO Duty Bound To Dispose Of Assessee's Written Objections To Proposed Re-Assessment By Passing Speaking Order: Calcutta High Court
1 month, 2 weeks ago

AO Duty Bound To Dispose Of Assessee's Written Objections To Proposed Re-Assessment By Passing Speaking Order: Calcutta High Court

Live Law  

The Calcutta High Court recently upheld an ITAT order deleting the addition of over ₹4 crore made to the income of an assessee under the Income Tax Act, 1961 in reassessment action. It observed, “The duty cast upon the assessing officer is to decide the written objections given by the assessee to the proposed reopening and passing a speaking order …

Tax Annual Digest 2024: Part III
1 month, 4 weeks ago

Tax Annual Digest 2024: Part III

Live Law  

Chewing Tobacco Packed In High-Density Polyethylene Bags Are 'Wholesale Package'; Cannot Be Taxed As Retail Product Under Excise Act : Supreme Court The Supreme Court recently held that pouches of chewing tobacco packed in High-Density Polyethylene bags would be considered a 'wholesale package' and could not be considered for imposing excise duty as per the provisions relating to retail sale …

ITAT Cannot Decide On Grounds Not Addressed By Commissioner Of Income Tax (Appeals): Delhi High Court
2 months, 1 week ago

ITAT Cannot Decide On Grounds Not Addressed By Commissioner Of Income Tax (Appeals): Delhi High Court

Live Law  

The Delhi High Court recently said aside an order passed by the Income Tax Appellate Tribunal, deciding grounds that did not arise from the impugned order passed by the Commissioner of Income Tax. A division bench of Acting Chief Justice Vibhu Bakhru and Justice Tushar Rao Gedela observed, “The Assessee's challenge to the addition of ₹4,30,00,000/- under Section 68 of …

Reassessment U/S 150 Of Income Tax Act Can't Be Initiated On Mere 'Incidental' Findings Of Appellate Authority: Delhi High Court
2 months, 3 weeks ago

Reassessment U/S 150 Of Income Tax Act Can't Be Initiated On Mere 'Incidental' Findings Of Appellate Authority: Delhi High Court

Live Law  

The Delhi High Court has held that Section 150 of the Income Tax Act, 1961 can be invoked for reassessment only to give effect to a 'conclusive finding' by an appellate authority regarding escapement of income by an assessee. Both terms demand a direct and substantive nexus to the matter under adjudication and cannot extend to incidental or ancillary conclusions.” …

S.147 Of IT Act Doesn't Postulate Review Jurisdiction Such That Assessment Can Be Reviewed By AO Intending To Form Different Opinion: Bombay HC
3 months ago

S.147 Of IT Act Doesn't Postulate Review Jurisdiction Such That Assessment Can Be Reviewed By AO Intending To Form Different Opinion: Bombay HC

Live Law  

The Bombay High Court ruled that the materials which were already available before AO and which ultimately were considered in passing assessment order u/s 143, cannot form basis of reopening, on ground that such materials were ignored in finalizing assessment. The Division Bench of Justice G S Kulkarni and Justice Firdosh P Pooniwalla observed that AO cannot assume jurisdiction under …

Assessment Pending Prior To Resolution Cannot Be Quantified After Approval Of Resolution Plan: Allahabad High Court
3 months, 1 week ago

Assessment Pending Prior To Resolution Cannot Be Quantified After Approval Of Resolution Plan: Allahabad High Court

Live Law  

The Allahabad High Court has held that the resolution applicant cannot be burdened with new claims after approval of a resolution plan. Upon approval of the resolution plan on 02.02.2021, the Department passed an assessment order dated 28.04.2021 under Section 144 read with 144B of the Income Tax Act, 1961. High Court Verdict In Uttam Galva Metallics Ltd. and Mr. …

S.144C IT Act | AO Not Having Info About Pending Objections Before Dispute Resolution Panel No Grounds To Sustain Final Assessment Order: Delhi HC
3 months, 1 week ago

S.144C IT Act | AO Not Having Info About Pending Objections Before Dispute Resolution Panel No Grounds To Sustain Final Assessment Order: Delhi HC

Live Law  

The Delhi High Court has made it clear that a Final Assessment order passed by the Income Tax Authorities under Section 143 of the Income Tax Act, 1961 is not sustainable, if it is passed in ignorance of pending objections before the Dispute Resolution Panel. It said, “.notwithstanding the lack of information with the AO, if an objection has been …

Tax Weekly Round-Up: December 09 - December 15, 2024
3 months, 1 week ago

Tax Weekly Round-Up: December 09 - December 15, 2024

Live Law  

HIGH COURTS Allahabad HC Assesee Cannot File For Requisite Documents Once Plea Is Accepted And Notice Is Issued: Allahabad High Court Case Title: M/s Laxmi Telecom v. State of U.P. Form 26B Under Income Tax Rules Not Required For Refund Once Form 5 Under 'Vivad Se Vishwas' Act Is Issued: Allahabad High Court Case Title: Dish TV India Limited v. …

Assessee Can Confine Settlement Under Direct Tax Vivad Se Vishwas Act To Disputes Which Were Subject Matter Of Its Appeal: Delhi HC
Trending News
3 months, 2 weeks ago

Assessee Can Confine Settlement Under Direct Tax Vivad Se Vishwas Act To Disputes Which Were Subject Matter Of Its Appeal: Delhi HC

Live Law  

The Delhi High Court has held that under the Direct Tax Vivad Se Vishwas Act, 2020, an Assessee is entitled to confine the settlement of disputes which were subject matter of its appeal, and exclude the disputes which were subject matter of the Revenue's appeal for the same assessment year. It thus allowed a real estate company's plea against the …

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

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

Live Law  

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 …

Recourse To Section 147 Of Income Tax Act Not Barred In Cases Where Assessing Officer Is Empowered To Proceed U/S 153C: Delhi High Court
4 months ago

Recourse To Section 147 Of Income Tax Act Not Barred In Cases Where Assessing Officer Is Empowered To Proceed U/S 153C: Delhi High Court

Live Law  

S.153C Income Tax Act doesn't bar AO's jurisdiction to reopen assessment u/S 147 when information against assessee is received from search conducted on another person: Delhi High CourtThe Delhi High Court has held that Section 153C of the Income Tax Act, 1961 does not by itself preclude an Assessing Officer from reopening assessments under Section 147/148 of the Act, on …

[S.263 IT Act] Revisionary Power Can Be Invoked When Order Meets Twin Conditions Of Being Erroneous, Prejudicial To Interest Of Revenue: Delhi HC
4 months, 2 weeks ago

[S.263 IT Act] Revisionary Power Can Be Invoked When Order Meets Twin Conditions Of Being Erroneous, Prejudicial To Interest Of Revenue: Delhi HC

Live Law  

The Delhi High Court has held that in order to invoke Section 263 of the Income Tax Act, 1961, the Principal Commissioner must satisfy “twin conditions”, i.e. A division bench of Justices Vibhu Bakhru and Swarana Kanta Sharma observed, “Twin conditions have to be met for assuming jurisdiction under Section 263 of the Act, and the PCIT has to form …

[Income Tax] Assessing Authority Can't Reassess Prior Years Without Inquiry While Determining Relevant Year's Assessment: Kerala High Court
4 months, 2 weeks ago

[Income Tax] Assessing Authority Can't Reassess Prior Years Without Inquiry While Determining Relevant Year's Assessment: Kerala High Court

Live Law  

The Kerala High Court stated that while determining the assessment of relevant years assessing authority cannot determine the assessment for earlier years without enquiry. observed that “…….we fail to understand how the assessing authority, as well as the First Appellate Authority, while considering assessment proceedings for the assessment years 2011-12 could have embarked upon an enquiry with regard to the …

Consequential Order Passed By Assessing Authority Beyond Terms Of Remand By Commissioner Is Unacceptable: Kerala High Court
4 months, 2 weeks ago

Consequential Order Passed By Assessing Authority Beyond Terms Of Remand By Commissioner Is Unacceptable: Kerala High Court

Live Law  

The Division Bench of Kerala High Court comprising Justices A.K. observed that “the concern of the Assessing Authority, while passing a consequential order, has to be limited to those specific issues that have been remanded to it for consideration by the Commissioner……….” Section 263 of the Income Tax Act, 1961 empowers the Commissioner of Income Tax to revise any order …

Mistake In Calculation Of Tax As Per Sec 115BBE Can Be Rectified U/s 154 And Not U/s 263: Ahmedabad ITAT Quashes Revision Made By PCIT
7 months, 1 week ago

Mistake In Calculation Of Tax As Per Sec 115BBE Can Be Rectified U/s 154 And Not U/s 263: Ahmedabad ITAT Quashes Revision Made By PCIT

Live Law  

Finding that all the additions made by the Assessing Officer u/s 68 r/w/s 115BBE are in consonance with the Income Tax Statute, the Ahmedabad ITAT quashed the revisional exercise of power by the PCIT u/s 263. The power under section 263 of the Income tax Act can be exercised where the order of the Assessing Officer is erroneous and prejudicial …

AO Can't Disregard ITAT's Direction To Re-examine Issue By Referring To CBDT Circular: Delhi High Court
7 months, 3 weeks ago

AO Can't Disregard ITAT's Direction To Re-examine Issue By Referring To CBDT Circular: Delhi High Court

Live Law  

The Delhi High Court has held that the assessing officer cannot disregard the direction of the Income Tax Appellate Tribunal to re-examine the issue by referring to the circular issued by the Central Board of Direct Taxes.The bench of Justice Yashwant Varma and Justice Ravinder Dudeja has observed that since the additional grounds had come to be accepted by the …

Order Of ITSC Final And Conclusive For AY For Which Application Has Been Filed: Delhi High Court
8 months, 3 weeks ago

Order Of ITSC Final And Conclusive For AY For Which Application Has Been Filed: Delhi High Court

Live Law  

The Delhi High Court has held that the order of the Income Tax Settlement Commission is final and conclusive for a particular assessment year for which the application has been filed.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that the order of the ITSC is deemed to be conclusive for all the matters pertaining to …

S.16 GST | Authorities Not Estopped From Taking Action Against Wrongful Claim Of ITC Based On Non-Existent Firms: Allahabad High Court
10 months, 1 week ago

S.16 GST | Authorities Not Estopped From Taking Action Against Wrongful Claim Of ITC Based On Non-Existent Firms: Allahabad High Court

Live Law  

The Allahabad High Court has held that the authorities are not estopped from taking action against wrongful claim of input tax credit merely because the firms with which transactions were alleged to have been done were registered at the time of the alleged transactions. benefit had earlier been granted to the petitioner merely because the firms were registered, would not …

S.144B(6) Income Tax Act | If Assessee “Requests” Then Opportunity Of Personal Hearing Is Mandatory, Not Optional: Allahabad High Court
10 months, 2 weeks ago

S.144B(6) Income Tax Act | If Assessee “Requests” Then Opportunity Of Personal Hearing Is Mandatory, Not Optional: Allahabad High Court

Live Law  

The Allahabad High Court has held that opportunity of personal hearing is mandatory under Section 144B and of the Income Tax Act, 1961 when show cause notice is issued regarding why assessment may not be completed as proposed. The bench comprising of Justice Saumitra Dayal Singh and Justice Donadi Ramesh held that “the word "request" used under Section 144B and …

I-T Authority Fails To Consider Reason For Difference In Sale Consideration & Stamp Duty: Mumbai ITAT Deletes Penalty Levied U/s 270A For Under-Reporting Of Income
10 months, 3 weeks ago

I-T Authority Fails To Consider Reason For Difference In Sale Consideration & Stamp Duty: Mumbai ITAT Deletes Penalty Levied U/s 270A For Under-Reporting Of Income

Live Law  

Noting that neither the Assessing Officer nor the CIT have taken into consideration the explanation offered by the Assessee during the assessment proceedings in relation to the difference in the sale consideration and the stamp duty valuation of immovable property, the Mumbai ITAT deleted the penalty levied u/s 270A of the Income tax Act for under-reporting of income. Accordingly, the …

Failure Of Dept. To Comply With ITAT's Order: Delhi High Court Directs Dept. To Remove Demands, Penalty From ITBA portal
11 months, 1 week ago

Failure Of Dept. To Comply With ITAT's Order: Delhi High Court Directs Dept. To Remove Demands, Penalty From ITBA portal

Live Law  

The Delhi High Court has held that the Department has failed to comply with Income Tax Appellate Tribunal's Order in passing a fresh assessment order within the stipulated time.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that the underlying rationale of the Legislature behind the enactment of Section 153 of the Income Tax Act and …

ITAT Cases Weekly Round-Up: 31 March To 6 April 2024
11 months, 2 weeks ago

ITAT Cases Weekly Round-Up: 31 March To 6 April 2024

Live Law  

Case Title: Zila Parisad verses Addl. Case Title: Kishorkumar Bhalara verses The Principal Commissioner of Income Tax On finding that the PCIT has held the assessment order passed by AO as erroneous and prejudicial to the interest of the Revenue simply based on incorrect assumption of facts, the Rajkot ITAT directed to set aside the order passed u/s 263 of …

S.16 UPVAT Act | Invoices, RTGS Details Not Sufficient For Deciding ITC Claim, Transportation Details Must Be Produced: Allahabad High Court
11 months, 2 weeks ago

S.16 UPVAT Act | Invoices, RTGS Details Not Sufficient For Deciding ITC Claim, Transportation Details Must Be Produced: Allahabad High Court

Live Law  

Placing reliance on the judgment of the Supreme Court in State of Karnataka vs. M/s Ecom Gill Coffee Trading Private Limited, the Allahabad High Court has held that input tax credit cannot be granted based solely on invoices and RTGS payment details. While dealing with Section 70 of the Karnataka Value Added Tax Act, 2003 the Supreme Court in M/s …

Assessment By AO Can't Be Termed As Prejudicial To Interest Of Revenue If It Doesn't Result In Any Loss To Revenue: Indore ITAT
11 months, 3 weeks ago

Assessment By AO Can't Be Termed As Prejudicial To Interest Of Revenue If It Doesn't Result In Any Loss To Revenue: Indore ITAT

Live Law  

On finding that the facts of the case do not warrant application of section 263 of the Income Tax Act, the Indore ITAT set aside the revision order passed by PCIT and restored the original assessment-order passed by the AO. In the light of those rulings, the AO has rightly assessed the income at normal rates of tax, hence there …

Direct Tax Cases Weekly Round-Up: 17 To 23 March 2024
1 year ago

Direct Tax Cases Weekly Round-Up: 17 To 23 March 2024

Live Law  

Delhi High Court Case Title: National Association Of Software And Services Companies Versus Deputy Commissioner Of Income Tax Circle 2 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. Case Title: The Salem Urban Co-operative Bank limited Versus The Income Tax …

Delhi High Court rejects Congress’s plea against tax reassessment
1 year ago

Delhi High Court rejects Congress’s plea against tax reassessment

The Hindu  

In a huge setback to the Congress ahead of the Lok Sabha elections, the Delhi High Court on Friday rejected its pleas challenging the reassessment proceedings initiated against it by the Income Tax department. The Congress has challenged initiation of proceedings under Section 153C of the Income Tax Act for assessment pertaining to assessment years 2014-15 to 2016-17. The I-T …

AO Competent To Invoke Section 154 Jurisdiction If Glaring Mistake Of Fact/Law Is Committed While Passing Assessment Order: Madras High Court
1 year ago

AO Competent To Invoke Section 154 Jurisdiction If Glaring Mistake Of Fact/Law Is Committed While Passing Assessment Order: Madras High Court

Live Law  

The Madras High Court has held that the Assessing Officer is not incompetent to invoke the jurisdiction under Section 154 of the Income Tax Act, 1961, if such officer had committed a glaring mistake of fact or law while passing the assessment order.The bench of Justice C. Saravanan has observed that the meaning of the expression “error apparent on the …

Once Reassessment Framed By AO Is Not Sustainable,Order U/s 263 Seeking To Revise Reassessment Is Not Acceptable: Delhi ITAT
1 year ago

Once Reassessment Framed By AO Is Not Sustainable,Order U/s 263 Seeking To Revise Reassessment Is Not Acceptable: Delhi ITAT

Live Law  

While allowing the appeal of assessee in respect of the fact that whether the PCIT had validly assumed his revision jurisdiction u/s 263 of the Income Tax Act, 1961, both in law and on facts, the New Delhi ITAT held that the PCIT erred in assumption of jurisdiction u/s 263 of the Income Tax Act, 1961. The Bench of the …

Payee Who Has Considered Amounts Received By Payer In Its Return & Paid Taxes On Same, Can't Be Treated As In Default U/s 201(1): New Delhi ITAT
1 year ago

Payee Who Has Considered Amounts Received By Payer In Its Return & Paid Taxes On Same, Can't Be Treated As In Default U/s 201(1): New Delhi ITAT

Live Law  

On finding that CIT has failed to consider all submission of assessee and evidences placed on record, the New Delhi ITAT restored the matter back to file of AO for fresh adjudication regarding the TDS deduction u/s 194J or u/s 194C of the Income Tax Act, 1961 on the payments made towards maintenance of X-Ray machine and CVC machine. However, …

Burden To Prove Escaped Assessment Lies On Assessing Authority: Allahabad High Court Quashes Reassessment Order Against Flipkart
1 year, 1 month ago

Burden To Prove Escaped Assessment Lies On Assessing Authority: Allahabad High Court Quashes Reassessment Order Against Flipkart

Live Law  

The Allahabad High Court has quashed the reassessment order against Flipkart and held that the burden to prove escaped assessment lies on assessing authority.The bench of Justice Saumitra Dayal Singh and Justice Shiv Shanker Prasad has observed that the burden of establishing the existence of recorded reasons was entirely on the department. The Allahabad High Court has quashed the reassessment …

Allahabad High Court Weekly Roundup: February 12 - February 18, 2024
1 year, 1 month ago

Allahabad High Court Weekly Roundup: February 12 - February 18, 2024

Live Law  

NOMINAL INDEX Smt Usha Verma And Another vs. State Of U.P. And 2 Others 2024 LiveLaw 96 Visible Alpha Solutions India Private Limited vs. Commissioner, CGST Appeals, Noida And Another 2024 LiveLaw 97 2024 LiveLaw 98 ORDERS/JUDGMENTS OF THE WEEK Writ Petition Has To Be Drafted Carefully, Reliefs Sought Must Be Supported By Pleadings: Allahabad High Court Rejects Claim For …

UP VAT Act | Where Assessee Has Paid Far More Tax Than Input Tax Credit Claimed, Section 13(1)(f) Will Not Apply: Allahabad High Court
1 year, 1 month ago

UP VAT Act | Where Assessee Has Paid Far More Tax Than Input Tax Credit Claimed, Section 13(1)(f) Will Not Apply: Allahabad High Court

Live Law  

The Allahabad High has held that where assessee has paid far more tax than the input tax credit claimed, Section 13 of the Uttar Pradesh Value Added Tax Act, 2008 will not apply. Section 13 of the Uttar Pradesh Value Added Tax Act, 2008 provides conditions in which input tax credit can be claimed by an assesee holding a valid …

S.148 Income Tax| For Assumption Of Jurisdiction Satisfaction Needs To Be Bonafide, No Need To Record “Reason To Believe”: Allahabad High Court
1 year, 1 month ago

S.148 Income Tax| For Assumption Of Jurisdiction Satisfaction Needs To Be Bonafide, No Need To Record “Reason To Believe”: Allahabad High Court

Live Law  

The Allahabad High Court has held that under the new law, it is not necessary for the assessing authority to record “reasons to believe”. The Court held that the assessing authorities are only required to record bonafide satisfaction regarding escapement of income for assuming jurisdiction under the Income Tax Act, 1961. A bonafide satisfaction reached as to escapement of income …

75(4) UPGST Act| Even If There Is No Request For Personal Hearing, Must Be Heard Before Adverse Decision: Allahabad High Court
1 year, 1 month ago

75(4) UPGST Act| Even If There Is No Request For Personal Hearing, Must Be Heard Before Adverse Decision: Allahabad High Court

Live Law  

The Allahabad High Court has held that before taking any adverse decision under the Uttar Pradesh Goods and Service Tax Act 2017, an opportunity of hearing must be provided to the assesee even if there is no request on his part. Relying on various decisions of the Allahabad High Court regarding mandatory opportunity of hearing under Section 75 of the …

Discrepancies In Maintaining KYC Documentation Does Not Constitute Incriminating Material: ITAT Deletes Income Tax Addition
1 year, 1 month ago

Discrepancies In Maintaining KYC Documentation Does Not Constitute Incriminating Material: ITAT Deletes Income Tax Addition

Live Law  

The Mumbai Bench of Income Tax Appellate Tribunal has held that income tax addition cannot be made for discrepancies in maintaining KYC documentation, account opening forms, and violation of society bye-laws.The bench of Sandeep Singh Karhail and B.R. The Mumbai Bench of Income Tax Appellate Tribunal has held that income tax addition cannot be made for discrepancies in maintaining KYC …

Reopening Initiated On Basis Of Wrong Reasons Renders Very Assessment As Invalid: Mumbai ITAT
1 year, 1 month ago

Reopening Initiated On Basis Of Wrong Reasons Renders Very Assessment As Invalid: Mumbai ITAT

Live Law  

On finding the reasoning behind the Assessment made by the Assessing Officer to be wrong, the Mumbai ITAT allowed the assessee's appeal against the order of Commissioner of Income Tax and National Faceless Appeal Centre. It is fact on record that assessee has filed its return of income and Assessing Officer has accepted the same.” “The assessment order is bad …

Assessment Order Passed Beyond Sec 144C(4) Is Time Barred If Objections To Draft Order Were Filed After Expiry Of Limitation As Per Sec 144C(2): Delhi ITAT
1 year, 2 months ago

Assessment Order Passed Beyond Sec 144C(4) Is Time Barred If Objections To Draft Order Were Filed After Expiry Of Limitation As Per Sec 144C(2): Delhi ITAT

Live Law  

Noticing that the draft assessment order was passed on Mar 4, 2022 and the assessee filed objection before the DRP on Apr 6, 2022 which was beyond the due date provided for filing objection, the Delhi ITAT held the assessment order to be time-barred being passed beyond Section 144C of Income tax Act, 1961 time-limit. Since the final Assessment Order …

GST Act | Proceedings Ought Not To Be Initiated If Rectified Tax Invoices, E-Way Bills Produced Before Passing Detention Order: Allahabad HC
1 year, 4 months ago

GST Act | Proceedings Ought Not To Be Initiated If Rectified Tax Invoices, E-Way Bills Produced Before Passing Detention Order: Allahabad HC

Live Law  

The Allahabad High Court has held that once rectified/ correct tax invoices and e-way bills are produced before the authorities before passing of the detention/ seizure order, the proceedings under the Goods and Service Tax Act, 2017 ought not to be initiated. Vs. Union of India and others and M/s Bhumika Enterprises Vs. State of UP and others, the bench …

UPVAT | Exemption/Concession Form Not Produced During Assessment Due To Unavoidable Circumstances, Can Be Considered By Tribunal: Allahabad HC
1 year, 4 months ago

UPVAT | Exemption/Concession Form Not Produced During Assessment Due To Unavoidable Circumstances, Can Be Considered By Tribunal: Allahabad HC

Live Law  

The Allahabad High Court has held that if a form through which exemption/concession has been claimed under the Uttar Pradesh Value Added Tax Act, 2008 could not be produced at the time of assessment due to unavoidable circumstances, the same can be produced before the Tribunal. The bench comprising of Justice Piyush Agrawal held, “The transaction already claimed by the …

UPGST | For Claiming ITC, Burden On Assesee To Prove Genuineness Of Transaction Beyond Doubt: Allahabad High Court
1 year, 5 months ago

UPGST | For Claiming ITC, Burden On Assesee To Prove Genuineness Of Transaction Beyond Doubt: Allahabad High Court

Live Law  

The Allahabad High Court has held that input tax credit cannot be claimed by an assesee if he has failed to discharge the burden to prove the actual transaction and physical movement of goods beyond doubt. Referring to Section 16 and 74 of the UP Goods and Service Tax Act, 2017, Justice Piyush Agrawal held “it is evident that in …

Allahabad High Court Imposes 10K Cost On Income Tax Authority For Violation Of Principles Of Natural Justice
1 year, 7 months ago

Allahabad High Court Imposes 10K Cost On Income Tax Authority For Violation Of Principles Of Natural Justice

Live Law  

The Allahabad High Court on Wednesday imposed a cost of Rs. 10,000 to be paid by an erring officer of the Income Tax Department for violating the principles of natural justice while cancelling the earlier Assessment Order and initiating fresh proceedings under Section 263 of the Income Tax Act, 1961. Counsel for Petitioner contended that the impugned order was passed …

ITAT Quashes Income Tax Addition In Respect Of Immovable Property Warranting Revision By The PCIT
1 year, 7 months ago

ITAT Quashes Income Tax Addition In Respect Of Immovable Property Warranting Revision By The PCIT

Live Law  

The Delhi Bench of the Income Tax Appellate Tribunal has quashed the income tax addition in respect of immovable property, warranting revision by the PCIT.The bench of Anubhav Sharma and M. Balaganesh has observed that AO, after making adequate inquiries, proceeded to make an addition for alleged money receipts on a protective basis in the hands of. The Delhi Bench …

Additions Can’t Be Made In Absence Of Incriminating Material: ITAT Deletes Income Tax Addition
1 year, 10 months ago

Additions Can’t Be Made In Absence Of Incriminating Material: ITAT Deletes Income Tax Addition

Live Law  

The Mumbai Bench of the Income Tax Appellate Tribunal has held that the additions could not have been made in the absence of any incriminating material.The bench of Kavitha Rajagopal and B.R. Baskaran observed that the additions made by the Assessing Officer under Section 68 of the Act towards the sale of shares and also estimated. The Mumbai Bench of …

Assessment Order Issued Without DIN, Invalid; S. 292B Of ITA Not Applicable: Delhi High Court
1 year, 11 months ago

Assessment Order Issued Without DIN, Invalid; S. 292B Of ITA Not Applicable: Delhi High Court

Live Law  

The Delhi High Court has upheld the order of the Income Tax Appellate Tribunal where it had set aside the assessment order issued by the Income Tax Department without quoting the Document Identification Number. The court ruled that Paragraph 4 of the 2019 Circular clearly provides that any communication, including the communication of assessment order, which is not in conformity …

Tax Cases Weekly Round-Up: 19 February To 25 February 2023
2 years, 1 month ago

Tax Cases Weekly Round-Up: 19 February To 25 February 2023

Live Law  

Bombay High Court Case Title: Rohit Enterprises Versus The Commissioner State GST Bhavan Citation: 2023 LiveLaw 108 The Aurangabad Bench of the Bombay High Court has held that the provisions of the GST enactment cannot be interpreted so as to deny the right to carry on trade and commerce to any citizen or subject. Madhya Pradesh High Court Case Title: …

Appearance Of AR Not Enough For Presuming Service On Assessee Under S. 292BB Of ITA: Orissa High Court
2 years, 1 month ago

Appearance Of AR Not Enough For Presuming Service On Assessee Under S. 292BB Of ITA: Orissa High Court

Live Law  

The Orissa High Court has deprecated the Income Tax Authority who, despite being informed that the assessee was in judicial custody, failed to serve a notice upon him through the Superintendent of the concerned jail, in the proceedings initiated against the assessee under Section 263 of the Income Tax Act, 1961. The Court further ruled that appearance of the authorized …

When AO Has Taken One Of The Possible Views The PCIT Is Prohibited From Adopting Different View: ITAT
2 years, 2 months ago

When AO Has Taken One Of The Possible Views The PCIT Is Prohibited From Adopting Different View: ITAT

Live Law  

The Mumbai Bench of the Income Tax Appellate Tribunal, while quashing the revision order, held that when the Assessing Officer has taken one of several possible views, the Principal Commissioner of Income Tax is prohibited from adopting a different view.The two-member bench of Aby V. Varkey and B.R. The Mumbai Bench of the Income Tax Appellate Tribunal, while quashing the …

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