 |
|
2021-TIOL-NEWS-064 Part 2 | March 17 2021
|
|
|
Dear Member,
Sending following links. Warm Regards,
TIOL Content Team
TIOL PRIVATE LIMITED.
For assistance please call us at + 91 850 600 0282 or email us at helpdesk@tiol.in. |
 |
|
|
|
|
INCOME TAX |
 |
|
|
|
|
|
|
|
|
|
2021-TIOL-527-ITAT-JAIPUR
Prakash Pandharinath Bakre Vs Pr.CIT
Whether power u/s 263 can be exercised for denying the deduction u/s 54 merely because the payments are made in instalments and some instalments were paid prior to one year before the date of sale of original assets - NO: ITAT
- Assessee's appeal allowed: JAIPUR ITAT
2021-TIOL-526-ITAT-AHM
Red Sun Dye Chem 7, Vainkunth Bungalows Vs ITO
Whether opinion formation for the purpose of Section 147 can be presumed on mere production of sale deed alongwith receipt of Registering Authority for calculation of stamp duty - NO: ITAT
- Assessee's appeal dismissed: AHMEDABAD ITAT
2021-TIOL-525-ITAT-BANG
Natural Remedies Pvt Ltd Vs ACIT
Whether expenses u/s 35(2AB) can be disallowed even when the R & D facility is approved by the DSIR - NO: ITAT
- Assessee's appeal allowed: BANGALORE ITAT
| |
|
|
|
|
|
 |
|
GST CASE |
|
|
|
|
|
|
|
|
|
|
2021-TIOL-647-HC-DEL-GST
Matrix Engineers Vs UoI
GST - Petitioner is aggrieved by the fact that there are thirteen shipping bills qua which IGST refund has not been remitted, as yet - Counsel for Revenue submits that he will inform the Bench on the next date as to why IGST is not being refunded to the petitioner - Bench makes it clear that if the verification process is being undertaken, the same will be completed before the next date of hearing - Matter listed on 20.04.2021: High Court [para 6, 7]
- Matter listed: DELHI HIGH COURT
2021-TIOL-646-HC-DEL-GST
Gillette India Ltd Vs UoI
GST - Anti-Profiteering - Petitioners submission is that the Director General of Anti-Profiteering (DGAP) has compared the average price of various products sold by the petitioner with the selling price, in a particular area, and then gone on to calculate the profiteered amount; that the DGAP had not made requisite adjustment in those instances where the selling price was found to be lower than the average base price; that had the adjustment been made, then, the petitioner would have been able demonstrate that it had, as a matter of fact, transferred benefit amounting to approximately Rs.61 crores to its consumers - Counsel for respondent submitted that the kind of adjustment alluded to on behalf of the petitioner, is not contemplated under the provisions of Section 171 of the Act; that the DGAP is entitled to calculate the profiteered amount in respect of supplies of every kind of goods; that a complete stay of the impugned order, at this stage, in any event, is not warranted.
Held: Till such time the respondents file their return, status quo , as obtaining today, should be maintained for the reason that a coordinate Bench, vide aforementioned order, i.e., order dated 18.02.2020 - 2020-TIOL-449-HC-DEL-GST , has taken a similar view, albeit, at the interim stage - matter listed on 29.04.2021: High Court [para 4, 5]
- Matter listed: DELHI HIGH COURT
|
|
|
|
|
|
|
|
|
INDIRECT TAX |
|
|
|
|
|
|
|
|
|
2021-TIOL-645-HC-DEL-NDPS
Edwin Emeka Igbokwe Vs NCB
NDPS - Petitioner is seeking regular bail - Petitioner is in judicial custody since 30.01.2017 - Petitioner had filed a bail application before Special Judge NDPS, who by order dated 16.12.2020 had rejected the same.
Held:
+ The quantity of heroin recovered in the case is 575 grams of heroin which is a commercial quantity. Section 37 of the NDPS Act makes the offences under the NDPS Act cognisable and non-bailable. [para 11]
+ It is well settled that the jurisdiction of a Court to grant bail for offences under NDPS Act, bail in cases of recovery of commercial quantity is circumscribed by the provision of Section 37 of the Act. The bail can be granted only when there are reasonable grounds for believing that the accused is not guilty of the offence and he is not likely to commit any offence when released on bail. The parameters for grant of bail to accused involved in the offence under NDPS Act have been laid down in a number of judgments. [para 12]
+ In the present case, it appears that the drugs were being sent in a very organised manner. Drugs were deftly packed and sent concealed in shock absorbers shows that the operations were well planned. The panchnama of the items recovered from the house of the petitioner includes a black and red coloured rectangular box marked as " roneo shock absorber", the same type of shock absorber in which the contraband was recovered. Another broken shock absorber with broken pieces was also recovered from the petitioner. Tools which could be used for opening shock absorber and placing the contraband into the shock absorber were also recovered. Weighing machines, seals of hologram and other instruments have also been recovered. The CDR of the phone numbers recovered from the accused would show that the petitioner was in constant touch with Stanley who had brought the parcel to Anand Kumar Thakur. [para 15]
+ It cannot be said at this point of time that the petitioner was not involved in the offence and the way in which the operation was being carried on shows that the possibility of the petitioner indulging in the same activity again cannot be ruled out. Further, the petitioner is a Nigerian and does not have roots in the society and, therefore, his chances of absconding also cannot be ruled out. [para 16]
+ In the Status Report it is mentioned that the co-accused Stanley was released on interim bail but he has jumped bail and has been declared as a Proclaimed Offender on 07.09.2019. Witnesses in the present case are yet to be examined. The ingredients of Section 37 of the NDPS Act are, therefore, satisfied. Court is not inclined to grant bail to the petitioner at this juncture.
- Application dismissed: DELHI HIGH COURT |
|
|
|
|
|
|
|
|
|
|
|
|
|
TIOL PRIVATE LIMITED.
TIOL HOUSE, 490, Udyog Vihar, Phase - V,
Gurgaon, Haryana - 122001, INDIA
Board :
+91 124-6427300
Fax: + 91 124-6427310
Web: https://taxindiaonline.com
Email: updates@tiol.in
__________________________________
CONFIDENTIALITY/PROPRIETARY NOTE.
The Document accompanying this electronic transmission contains information from TIOL PRIVATE LIMITED., which is confidential, proprietary or copyrighted and is intended solely for the use of the individual or entity named on this transmission. If you are not the intended recipient, you are notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited. This prohibition includes, without limitation, displaying this transmission or any portion thereof, on any public bulletin board. If you are not the intended recipient of this document, please return this document to TIOL PRIVATE LIMITED. immediately |
|
|
|
