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The ITAT Kolkata Bench ruled that there was no investigation conducted on the taxpayer and upholds the deletion of penalty under section 271AAB on undisclosed income. The taxpayer, M/s. Clean Coal Enterprises Pvt. Limited related to The Hind Energy Group of Companies, in which an investigation was performed under section 132(1) of the income tax […]
There are several complaints of the urgent recovery through the GST officials in the search operations, Gujarat high court directed the central and state council for a stay as temporary in collecting or taking any due or amount from the businessman till search operation goes on. It is to be implemented if they are imposed […]
The Central Board of Indirect Taxes and Customs (CBIC) mentioned the rules with respect to the process which is to happen through the Search Operation. The CBIC noticed that the proper process has not been undertaken in the search proceedings along the Panchnamas statements has not been listed according to the extant rules and instructions. […]
The Central Board of Direct Taxes released a Press Release dated October 15, 2020, in which the board notified that the Income Tax Department has carried out searches and seizure action in Delhi, NCR, and Haryana on October 14, 2020. This has been done by the department in the case of a leading advocate practicing […]
In the current case of three prominent businessmen in Srinagar and Kupwara on 2nd September 2020, the income tax administration has implemented contemporary research and operations. The case consolidated about the undisclosed amount and the operations have prima facie seizure of unaccounted assets and incriminating proof and relationship in unnamed transactions by certain groups. In […]
The Supreme Court has asked the centre that during the investigation do not use “threat and coercion” against traders for recovery of Goods and Services Tax (GST) and instead convince them to clear the dues voluntarily. No provision is there under the law which authorises the authorities to exert force for payment of outstanding dues, […]
The Bombay High Court, actual carrying on of agricultural operations is not a critical condition for determining that the parcels of land were agricultural lands. The order has been quashed by the bench of Justice K. R. Shriram and Justice Dr. Neela Gokhale and remanded the case for passing the fresh assessment order. The AO […]
The Chennai ITAT referring to CBDT Circular no. 10/2014, stressed that if an undertaking is transferred to another undertaking excluding the way of amalgamation and demerger and in other cases, the transferee undertaking will be qualified for deduction for the remaining unexpired period under section 80IA(4)(iii) of the Income Tax Act. The Bench, Manmohan Das […]
The department has been instructed by the Delhi High Court to give a refund amount that the petitioner has deposited through a payment of Rs. 23,70,000 in cash along with interest at a yearly rate of 6%. The two-member bench comprising Justice Vibhu Bakhru and Justice Amit Mahajan has noted that a sum amounting to […]
