Law and Legal blog

Maken Cement Industries, , ... vs Department Of Income Tax on 7 November, 2012 :   AO noticed that the transport subsidy of Rs.21,18,637/- has been received by the assessee from the J & K Govt. which the assessee has not declared as a income in its return and after recording the reasons and with the approval of the Addl. CIT, Range VI Pathankot, reopened the case of the assessee by issuing notice u/s 148 of the Act on 16.07.2008

Subhash Gupta, , <b>Jammu</b> vs Department Of Income Tax on 27 November, 2012 : Income Tax Appellate Tribunal - Amritsar Subhash Gupta, , <b>Jammu</b> vs Department Of Income Tax on 27 November, 2012 IN THE INCOME ... Income Tax, vs. Sh. Subhash Gupta, Central Circle, <b>Jammu</b>. 40, Ranbir Market, <b>Jammu</b>. (Appellant) (Respondent) Appellant

Revised return replaces original one, the paradigm shift continues when higher head office exp. is c... - Direct Tax Laws : Revised return replaces original one, the paradigm shift continues when higher head office exp. is claimed in revised return By [2012] 28 taxmann.com 99 (MUM. - ITAT)

Jammu AND And Kashmir Bank Ltd. vs Assistant Commissioner Of Income ... on 8 February, 2008 : Income Tax Appellate Tribunal - Amritsar Jammu & Kashmir Bank Ltd. vs Assistant Commissioner Of Income ... on 8 February, 2008 Equivalent ... filed against the order of Commissioner of Income-tax, This appeal of the assessee has been filed against the order of Commissioner of Income-tax, Jammu (In short, "CIT") passed under Section 263 of the IT Act, 1961 (In short, "the Act") for

Commissioner Of Income-Tax vs Jewel Cinema on 5 March, 1993 Equivalent citations: 1993 204 ITR 831 J K Author: B Khan Bench: R Sethi, B Khan JUDGMENT B.A. Khan, J. 1. Whether the Income-tax Officer's order refusing o condone the delay in filing a declaration in Form No. 12 under Section 184(7) of the Income-tax Act, 1961, is appealable under Section 246. This is the all important question posed for our opinion by the Appellate Tribunal. To answer this, it has to be seen whether the crucial order has been passed under Section 184(7) or under Section 185(1)(b) or under Section 185(3). No appeal will lie in the former case as any order passed under Section 184(7) is not appealable under Section 246 but it would certainly lie if it is concluded that the order falls under Section

Assistant Commissioner of Central Excise & Customs Sentenced For Possession Of Disproportionate Assets : The Special Judge for CBI Cases, Saket Court, New Delhi has convicted Shri Kulwaran Singh, the then Assistant Commissioner (Imports), ICD, Customs & Central Excise and seven other persons. The Court has sentenced Shri Kulwaran Singh to undergo three years Rigorous Imprisonment with fine of Rs...

Trust imparting education irrespective of caste, creed & religion entitled to registration u/s 12AA : DIT (E) was not justified in forming an opinion that the objects of the assessee are for a specific community being violative of the provisions of s. 13(1)(b) of the Act. As a matter of fact, the assessee has been serving the public irrespective of caste, creed and religion by imparting education...

If existence of income is presumed, existence of expenditure is also to be presumed : If the revenue was of the opinion that the expenses claimed towards 'green boxes' was inadmissible or was excessive, or not genuine, in order to reject the entries in the books of account and other documents of the assessee, seized during the search, it ought to have relied on other materials....

Reopening based on Second thought on same material not valid – SC : It is now a settled law that if an explanation is added to a section of a statute for the removal of doubts, the implication is that the law was the same from the very beginning and the same is further explained by way of addition of the Explanation. Thus, it is not a case [...] [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Introduction to writ petition in relation to taxation matter : As per Article 226 of Constitution of India every High Court can issue any direction or order or writ to enforce for enforcement of rights which are in the n

Fairdeal Motors & Workshop P.Ltd. ... vs Assessee on 5 September, 2012 : alleged sundry creditors comes to <b>Jammu</b> for encashment of the cheques. Since, the bearer cheques have been encashed at <b>Jammu</b> ... addresses of these persons are of Ladakh region of <b>Jammu</b><b> </b><b>&amp;</b> <b> </b> <b>Kashmir</b> where the income is exempt under section

India Signs Revised DTAA with Indonesia : The Government of the Republic of India signed a revised Double Taxation Avoidance Agreement (DTAA) with the Government of the Republic of Indonesia for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income on 27th July, 2012 at Hyderabad House,...

CBDT Extended Due Date to 31.08.2012 for all returns which were due to be filed by 31.07.2012 : A section of Media has reported that the Central Board of Direct Taxes has extended ‘due date’ of filing of returns to 31st August, 2012 in respect of only those returns which were to be e-filed by 31st July, 2012. It is clarified that the notification issued by the Board on 31st July, 2012 has...

Govt Permits investments from Pakistan : Present Position - As per paragraph 3.1.1 of 'Circular 1 of 2012 - Consolidated FDI Policy', effective from 10-4-2012, investment from a citizen of Pakistan or an entity incorporated in Pakistan is not permitted. 2.0 Revised Position - The Government of India has reviewed the policy, as contained... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Chief Justice Roberts Exercises the Swing Vote as the US Supreme Court Upholds the 'Individual Mandate' in Obama's Health Care Law : The US Supreme Court handed down its decision in  National Federation of Independent Business v. Sebelius yesterday  and upheld the individual mandate provision of the Affordable Care Act. In this post, my attempt is to provide a clear and simple analysis of the issues involved and the opinions expressed in the case. It would be stating the obvious to say that today's decision had tremendous institutional and political significance. The extent of its importance may be understood from the fact that the court, in a rare departure from the usual one hour of oral arguments, allocated six hours to hear arguments concerning the constitutionality of the the Affordable Care Act ('ACA').  There were primarily three issues for determination before the U.S Supreme Court in  National Federation of Independent Business v. Sebelius : 1. Cons...

The Legal Context to the Supreme Court of Pakistan's Disqualification of Prime Minister Gilani : (I must thank Professor Ali Qazilbash at the Department of Law and Policy, Lahore University of Management Sciences for answering some of my basic questions concerning this controversy and constitutional law in Pakistan. Any inaccuracies, however, are my own responsibility.) To better understand the order of the Supreme Court of Pakistan disqualifying Prime Minister Gilani, it might be useful to get a grip on the legal context in which this order was handed down. My apologies for making this largely a descriptive post but I think it might help readers better understand the complexities involved and avoid a narrow and superficial analysis like the one reflected in  Justice Katju's opinion piece in The Hindu. Pakistan's Involvement in the Swiss Case Against Benazir Bhutto and Asif Ali Zardari The genesis of this issue can be traced back to 1997 when the Advocate General of...

Union Territory Of Lakshadweep & ... vs Seashells Beach Resort & Ors. on 11 May, 2012

Registrar General,Patna High ... vs Pandey Gajendra Prasad & Ors. on 11 May, 2012

Behind full Ponty flop, his 2-yr raid rehearsals - Indian Express

Dr. Subramanian Swamy vs Dr. Manmohan Singh And Anr. on 31 January, 2012

An Analysis of the Supreme Court’s judgment in Vodafone – Part I : In our post on the  judgment  of the Bombay High Court, we expressed the hope that the Supreme Court would take a different view. That the Court has now done so has been  welcomed  as much needed respite in bad times. Even more importantly, it is heartening that the Court has taken what it is submitted is the correct view  especially on the facts of Vodafone’s case . But from that qualification it follows that the prevailing assumption that this judgment is a complete victory for tax planning over a more robust approach may not be entirely accurate. As we discuss below, much of the Court’s reasoning, particularly in the judgment of the Chief Justice, is premised on a factual finding that the Vodafone-Hutch deal  did not  lack commercial substance or business purpose, and its analysis of the legal principles suggests that a finding for the assessee is  not  a foregone conclusion in “similar” cases.      It is easiest to ...