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2021-TIOL-NEWS-301 Part 2 | December 22 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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TIOLAWARDS |
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INCOME TAX |
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2021-TIOL-1993-ITAT-MUM
Shah Mehta Holdings Pvt Ltd Vs DCIT
Whether administrative expenses of 0.5% under Rule-8D(2)(iii) should be on the investment which earned the exempt income - YES : ITAT
Whether disallowance u/s 14A can not exceed exempt income - YES : ITAT
- Assessee's appeal allowed: MUMBAI ITAT
2021-TIOL-1992-ITAT-MUM
Purushotamdas Goenka Vs ACIT
Whether ALV of property, which could not be let out during relevant year, should be nil as per sec 23(1)(c) of Act - YES : ITAT
- Assessee's appeal partly allowed: MUMBAI ITAT
2021-TIOL-1991-ITAT-DEL
Plutus Industries Pvt Ltd Vs ITO
Whether case can be remanded back to lower authority to provide adequate opportunity to assessee to substantiate with evidences creditworthiness of the Directors and genuineness of transactions - YES : ITAT
- Matter remanded: DELHI ITAT
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GST CASE |
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2021-TIOL-2324-HC-P&H-GST
Balwinder Singh Vs STO
GST - The petitioner seeks regular bail in a complaint case registered under Sections 69, 132(1), a, b and c of Punjab Goods and Service Act, 2017 - Petitioner has contended that they had falsely been implicated inasmuch as e-mail Id and phone number as updated with department do not belong to him - In fact, petitioner opened a firm in the name and style of M/s Suvidha Enterprises and also obtained GST number from respondent, but the said firm had been used by Prince Dhiman, who happens to be the son of his sister-in-law and adopted by him - The petitioner was not aware about business transactions of said firm maintained or looked after by Prince Dhiman - Petitioner had never transacted any business from said firm and it was Prince Dhiman, who used to make all transactions, if any, related to sales and purchase, as recorded on on-line portal with department - The petitioner had no role to play in alleged offences - Matter already stands investigated qua the petitioner - Moreover, petitioner has been in custody since 09.02.2021 - Trial of the case would take time to conclude - Without going into the merits of case, it is found that no useful purpose would be served by keeping petitioner behind the bars - Thus, petitioner is ordered to be on regular bail on execution of adequate personal/surety bonds amounting to Rs.5 lakh to satisfaction of concerned trial Court/Duty Magistrate: HC
- Petition allowed: PUNJAB AND HARYANA HIGH COURT |
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