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2021-TIOL-NEWS-133 Part 2 | June 07, 2021
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Dear Member,
Sending following links. Warm Regards,
TIOL Content Team
TIOL PRIVATE LIMITED.
For assistance please call us at + 91 7838594749 or email us at helpdesk@tiol.in. |
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INCOME TAX |
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2021-TIOL-913-ITAT-DEL
ML Singhi And Associates Pvt Ltd Vs DCIT
Whether completed assessments can be interfered with by AO while making assessment u/s 153A only on basis of incriminating material unearthed during course of search – YES: ITAT.
Whether when money lending is part of business of assessee company, no addition u/s 2(22)(e) can be made – YES: ITAT.
- Assessee's Appeals allowed: DELHI ITAT
2021-TIOL-912-ITAT-BANG
Koyyur Service Cooperative Bank Ltd Vs ITO
Whether loans given by cooperative credit societies to nominal members would qualify for the purpose of deduction under section 80P(2)(a)(i) - YES: ITAT
- Case remanded: BANGALORE ITAT
2021-TIOL-911-ITAT-BANG
Life Insurance Corporation of India Vs ITO
Whether legislation that modifies accrued rights or imposes obligations or new duties or attaches new disability must be treated as prospective unless legislative intent is clearly to give the enactment a retrospective effect – YES: ITAT.
Whether for purposes of TDS deduction, when estimate made by assessee is held to be honest and bona fide, assessee cannot be treated as assessee in default – YES: ITAT.
- Appeals disposed of: BANGALORE ITAT
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GST CASE |
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2021-TIOL-1290-HC-DEL-GST
Society For Tax Analysis And Research Vs UoI
GST/Income Tax - ASGI brings to the notice of the Court incorrect reporting of the proceedings of this Court, held on 25.05.2021 = 2021-TIOL-1218-HC-DEL-GST - Petitioner says that the disconcerting blog, titled "A Summer of Relief for Taxpayers", published on https://gstlawindia.in, administered by ALA Legal Advocates & Solicitors [in short "ALA Legal"]; [available at the following URL: https://gstlawindia.in/a-summer-of-relief-for-taxpayers/] concerning the proceedings, will be removed, and an unconditional apology will be tendered to the Court as also to Mr. Venkatraman, the learned ASG; that the order of this Court dated 25.05.2021, will be uploaded on the aforementioned website/blog.
Held: Bench indicates that ALA Legal cannot, and ought not run the website/blog, in respect of the proceedings, which are being prosecuted by it, as there is every likelihood of losing objectivity in the reportage of proceedings; as was the case, in the instant matter; that any slant in the reporting, which is not in line with the orders of the Court, leads to multifarious problems including the embarrassment that counsels appearing in the matter may encounter vis-a-vis their respective principals - Matter listed on 22.07.2021: High Court [para 3, 4]
- Matter listed: DELHI HIGH COURT |
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