Articles for Section 132

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
1 month 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 …

Delhi Jurisdiction Tax Court Assessment Income Tax Income Tax Act
Witness Who Made Self-Incriminating Statements Can Be Summoned As Additional Accused Based On Other Materials: Supreme Court
3 months, 1 week ago

Witness Who Made Self-Incriminating Statements Can Be Summoned As Additional Accused Based On Other Materials: Supreme Court

Live Law  

The Supreme Court held that a witness who gives an incriminating statement cannot take a shield under proviso of Section 132 of the Evidence Act to claim immunity from prosecution if there exists other substantial evidence or material against him proving his prima facie involvement in the crime.The Court stated : "We hold that the qualified privilege under the proviso …

Evidence Court Witness Prosecution Statement Statements Accused
Absence Of Incriminating Materials, AO Not Empowered To Reopen Assessments In Block Period Of Six Years: Kerala High Court
6 months ago

Absence Of Incriminating Materials, AO Not Empowered To Reopen Assessments In Block Period Of Six Years: Kerala High Court

Live Law  

The Kerala High Court has held that based on the material obtained during the search, the Assessing Officer, who gets the jurisdiction to re-open the assessments, can do so in respect of the individual assessment years comprised in the block period of six years only if the material obtained during the search under Section 132 of the Income Tax Act, …

Tax Court Search Assessment Income Tax Kerala High Court Income
S.132B(1)(i) Income Tax Act | Power Of Assessing Authority To Decide Application For Release Of Seized Assets Not Automatically Abated After 120 Days: Allahabad HC
8 months ago

S.132B(1)(i) Income Tax Act | Power Of Assessing Authority To Decide Application For Release Of Seized Assets Not Automatically Abated After 120 Days: Allahabad HC

Live Law  

The Allahabad High Court has held that the jurisdiction of the Assessing Authority to decide the application for release of seized assets under Section 132B does not abate after a period of 120 days from the date on which the last of the authorizations for search under section 132 or for requisition under section 132-A was executed. The Court held …

Tax Court Application Held Release Petitioner Seized
Monthly Digest Of IBC Cases: December 2023
11 months, 2 weeks ago

Monthly Digest Of IBC Cases: December 2023

Live Law  

Supreme Court IBC | When Matter Heard But No Order Pronounced On The Same Day, Limitation To Commence From The Date When Order Gets Uploaded: Supreme Court Case Title: Sanjay Pandurang Kalate v Vistra ITCL Limited and Others Case No. “Such proactive action by tribunals is essential to ensure that the move towards a modernized and technology-friendly judiciary trickles down …

India Justice Supreme Court Resolution Corporate Debtor Income Tax Companies Act
I-T searches, a form of extra-constitutional power
11 months, 2 weeks ago

I-T searches, a form of extra-constitutional power

The Hindu  

In August 2017, a nine-judge Bench of the Supreme Court of India, in Justice K.S. A notable example of this feature is the use of Section 132 of the Income Tax Act, 1961, which grants to the taxman, untrammelled police power to forcibly search persons and their properties, and seize goods found during such a search, including money, bullion, and …

Law India Court Constitutional Search Power Judicial
[Kerala GST Act] 'Officials Can Invoke Power To Arrest U/S 69 If Offence Made Out U/S 132': HC Denies Bail To Man In ₹6.4 Crore Tax Evasion Case
1 year ago

[Kerala GST Act] 'Officials Can Invoke Power To Arrest U/S 69 If Offence Made Out U/S 132': HC Denies Bail To Man In ₹6.4 Crore Tax Evasion Case

Live Law  

The Kerala High Court made it clear the officials can invoke the power to arrest under Section 69 of the Kerala State Goods and Services Act, 2017 if there was a reasonable belief that an offence under Section 132 was made out and that custodial interrogation was necessary. Thus, the reference to Section 132 in Section 69 is only to …

Investigation Tax Court Tax Evasion Case Act Gst
NCLAT Delhi: National Financial Reporting Authority Has Overriding Powers To Penalise CAs For Professional Misconduct
1 year ago

NCLAT Delhi: National Financial Reporting Authority Has Overriding Powers To Penalise CAs For Professional Misconduct

Live Law  

The National Company Law Appellate Tribunal, Delhi Bench comprising of Justice Rakesh Kumar Jain and Mr Naresh Salecha has dismissed an appeal and upheld the penalty imposed by the National Financial Reporting Authority on the auditors of Dewan Housing Finance Corporation Ltd. NCLAT further clarified that NFRA holds superior and overriding powers over the Institute of Chartered Accountants of India …

Companies Act Audit Act Bench Nclat Nfra Auditors
Income Tax Act | Completed/Unabated Assessments Cannot Be Reopened by AO If No Incriminating Material Is Found During Search: Supreme Court
1 year, 5 months ago

Income Tax Act | Completed/Unabated Assessments Cannot Be Reopened by AO If No Incriminating Material Is Found During Search: Supreme Court

Live Law  

The Supreme Court has reiterated that in view of the judgment of the Supreme court in Principal Commissioner of Income Tax vs. Abhisar Buildwell Pvt. Therefore, the court said that the AO’s powers under Sections 147/148 of the Income Tax Act were saved in terms of Supreme Court’s judgment in Abhisar Buildwell. The bench, however, said, “However, in view of …

Supreme Court Search Income Tax Assessments Act Material Sections
Supreme Court Monthly Digest April 2023
1 year, 7 months ago

Supreme Court Monthly Digest April 2023

Live Law  

SUBJECT WISE INDEX Administrative Law Rules of Business - When the Cabinet constitutes a committee and the latter’s actions are validated by the Minister and the rest of the Council, then it cannot be claimed that Rules of Business have not been followed by the State Government in the course of its decision-making process. National Insurance Co. Ltd. v. Harsolia …

India Rajasthan Karnataka Delhi Supreme Court High Court Bihar
Karnataka High Court Paves Way For De-Freezing Amnesty International's Bank Accounts, Says ED's 2018 Notice Was Valid Only For 60 Days
1 year, 9 months ago

Karnataka High Court Paves Way For De-Freezing Amnesty International's Bank Accounts, Says ED's 2018 Notice Was Valid Only For 60 Days

Live Law  

The Karnataka High Court recently quashed the communication issued by Enforcement Directorate in 2018 to banks, directing them to freeze accounts of NGO M/s Amnesty International Private Limited, alleging violation of provisions of Foreign Exchange Management Act, 1999,. A single judge bench of Justice K S Hemalekha said in view of Section 132 of the Income Tax Act, ED's notice …

India Order Amnesty Notice Act Bench Kar
Supreme Court Annual Digest 2022-Income Tax
1 year, 11 months ago

Supreme Court Annual Digest 2022-Income Tax

Live Law  

Income Tax Act, 1961 Income Tax Act, 1961 - Appeal against Gujarat High Court judgment extending the immunity under the "Income Declaration Scheme" to an assessee who was not the declarant under the scheme - Allowed - The High Court fell into error, in holding that the sequitur to a declaration under the IDS can lead to immunity in the …

India Delhi High Court High Courts Tax Income Tax Income Tax Act
Explained | Decriminalisation of offences under GST
2 years ago

Explained | Decriminalisation of offences under GST

The Hindu  

The story so far: The 48th GST Council meeting was held on December 17. The GST Council chaired by Finance Minister Nirmala Sitharaman recommended to decriminalise certain offences under Section 132 of the Central Goods and Services Tax Act, 2017. The 48th GST Council meeting has recommended various measures to decriminalise the GST offences such as raising the minimum threshold …

Law Finance Tax Tax Evasion Penalties Act Eco
Supreme Court Quarterly Digest on Tax [July - September, 2022]
2 years, 1 month ago

Supreme Court Quarterly Digest on Tax [July - September, 2022]

Live Law  

Arbitration and Conciliation Act, 1996 - Relief related to tax concessions are not arbitrable. Commissioner of Service Tax New Delhi v. Quick Heal Technologies Ltd, 2022 LiveLaw 660 Finance Act 1994; Section 65B - Definition of "service" - does not include activities listed as "deemed" sale under Article 366 of Constitution Commissioner of Service Tax New Delhi v. Quick Heal …

India Mumbai High Court Court States Income Tax Haj
Company Law Committee Report 2022 Suggests Many Amendments, Including Issue Of Fractional Shares
2 years, 5 months ago

Company Law Committee Report 2022 Suggests Many Amendments, Including Issue Of Fractional Shares

Live Law  

The latest Company Law Committee Reportof 2022 has proposed various significant amendments to the existing framework of the Companies Act, 2013 and some in the Limited Liability Partnership Act, 2008. Amending Chapter IV; Recognizing The Issuing And Holding Of Fractional Shares Section 4 of the Companies Act 2013, as well as paragraph 4 of Table F, currently limit the issuing …

Law India Independent Director Companies Act Companies Company
Reasonable Connection Between Concerned Act & Performance Of Official Duty Necessary For Public Servant To Avail Benefit Of S.197 CrPC: Gujarat HC
2 years, 6 months ago

Reasonable Connection Between Concerned Act & Performance Of Official Duty Necessary For Public Servant To Avail Benefit Of S.197 CrPC: Gujarat HC

Live Law  

The Gujarat High Court has reiterated that when a government servant is accused of a criminal offence, there has to be a reasonable connection between the act concerned and the performance of his official duty for him to claim that there is need of sanction to prosecute under Section 197 of CrPC. Significantly, to address the contentions of the Applicant …

Assembly Court Public Servant State High Public Complainant
Prosecution For Customs Duty Evasion Can't Be Initiated As The Valuation Of The Goods Is Less Than Rs.1 Crore: Delhi High Court
2 years, 6 months ago

Prosecution For Customs Duty Evasion Can't Be Initiated As The Valuation Of The Goods Is Less Than Rs.1 Crore: Delhi High Court

Live Law  

The Delhi High Court has ruled that the prosecution of the petitioner cannot be initiated under Section 135 of the Customs Act as valuation of the goods is less than Rs.1 Crore. The Director of Revenue Intelligence filed a criminal complaint under Section 132 and 135 of the Customs Act, before the Trial Court. The petitioner stated that there was …

Delhi Court Customs Complaint Act Goods Petitioner
MP High Court Grants Custody Of Looted Property Recovered By Police To Income Tax Department As The Same Was Not Disclosed By Complainant
2 years, 9 months ago

MP High Court Grants Custody Of Looted Property Recovered By Police To Income Tax Department As The Same Was Not Disclosed By Complainant

Live Law  

The Madhya Pradesh High Court, Gwalior Bench recently dismissed an application moved by a Complainant in a dacoity case, seeking custody of the recovered stolen cash to the tune of Rs. Considering the submissions of the IT Department, the Court noted that the Applicant did not produced any material to account for the property that was recovered from the accused …

Tax Court Income Tax Income Tax Act Income Department Act
GST Officers File Complaint Against Kanpur Perfume Maker in Unaccounted Cash Recovery Case
2 years, 10 months ago

GST Officers File Complaint Against Kanpur Perfume Maker in Unaccounted Cash Recovery Case

News 18  

The Directorate General of GST Intelligence has filed a complaint against perfumer Piyush Jain before the court of special chief judicial magistrate /Additional chief metropolitan magistrate-III, Kanpur Nagar, to prosecute the accused. The complaint was filed on Tuesday under section 132 read with section 132 and section 132 of the Central Goods and Services Tax Act 2017, section 132 read …

Court Complaint Jain File Gst Kanpur Nagar Section 132
'Prima Facie Input Tax Credit Wrongly Availed Exceeds Five Crores': Chennai Court Dismisses Bail Plea Of Person Accused Of Tax Evasion
2 years, 10 months ago

'Prima Facie Input Tax Credit Wrongly Availed Exceeds Five Crores': Chennai Court Dismisses Bail Plea Of Person Accused Of Tax Evasion

Live Law  

In an offence that comes under Section 132 of TNGST Act related to mere bill trading by raising invoices without actual supply of goods, the Egmore Additional Chief Metropolitan Magistrate has dismissed the bail application of the accused stating that there is prima facie complicity of the accused and the input tax credit wrongly availed has exceeded Rs 5 Crores.The. …

Tax Court Tax Evasion Accused Act Offence Petitioner
'No Presumption Under Law That Every Unaccounted Transaction Leads To Imposition Of Tax' : Karnataka HC Gives Relief To DK Shivakumar
3 years, 8 months ago

'No Presumption Under Law That Every Unaccounted Transaction Leads To Imposition Of Tax' : Karnataka HC Gives Relief To DK Shivakumar

Live Law  

In a relief to Congress leader D K Shivakumar, the Karnataka High Court on Monday dismissed an appeal filed by the Income Tax Department against an order of the special court discharging him in an alleged case of tax evasion. The Court below committed an error in not considering the expression used in section 276C of the Income Tax Act …

Tax Court Search Prosecution Income Tax Act Income Interest