Home Highlights May 2013 Year 2013 This

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1. Correct head of income - gains arising on cashless exercise of stock options - it was not open for the revenue to take one stand in case of the assessee and to challenge...

2. The Administrative directions for fulfilling recovery targets for the collection of revenue should not be at the expense of foreclosing the remedies which are available...

3. Levy of penalty on the petitioner being double the amount of tax allegedly evaded by the petitioner - No doubt, in circumstances where the gross profit estimated by the...

4. Input service distributor (ISD) - Void ab initio distributed credit - office or establishment of the said manufacturer or not - satisfaction of provisions of Rule 2(m)...

5. Recovery of Refund of SAD - Neither the assessee can seek refund nor Revenue can proceed to recover the refund already sanctioned without challenging the earlier order...

6. Disallowance on account of foreign exchange fluctuation loss - It is an undisputed fact that for the assessment year 2012-13, 2013-14 and 2016-17, the assessee declared...

7. Appropriate forum - High Court or Supreme Court - issue of limitation - Decision in rem or in personam - In the facts of this case, the revenue could challenge only part...

8. TP Adjustment - Assessee contents that part of the Revenue reported in future years, but the contention of the assessee cannot be accepted for the simple reason that...

9. Best judgement assessment - There appears to be divergents views insofar as the question as to whether the consumption of electricity can constitute the sole basis for...

10. Transfer of case u/s 127 - centralization of case after search - delayed challenge to the order passed u/s 153A - the impugned order came to be passed on 19.02.2019 and...

11. Compounding of case u/s 279(2) - offences u/s 276C and 277 - Assessee would be entitled to the benefit of Section 279(1A) of the Act and the judgment of Supreme Court in...

12. Assessment u/s 153A - No challenge to search u/s 132(1) - When the search is not under challenge it is not open for the assessee to challenge the consequences of such...

13. Transitional credit - Direction to the Opposite Parties to accept the GST TRAN-1 form from the Petitioner - In the present case a direction is issued to the Opposite...

14. Penalty u/s 271-D and 271-E - accepting loan in cash from the director of the company - The tribunal held that, the assessee`s case under consideration the transactions...

15. Reopening of assessment - change of opinion - if the stand of the Revenue is to be accepted, the sanctity/finding attached to the proceedings u/s 143(3) would be done...