2022-TIOL-NEWS-074 Part 2 Dated: Thursday, March 31, 2022

2022-TIOL-NEWS-074 Part 2 | March 31, 2022

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.

TIOL AWARD

TODAY'S CASE (DIRECT TAX)

I-T - High Court is not justified in disposing of appeal without discussing issues: SC

I-T - Assessee is permitted to travel to foreign amidst pending investigation under Black Money Act but subject to several conditions, if no summons are pending against him: HC

INCOME TAX


	2022-TIOL-27-SC-IT Pr.CIT Vs Motisons Entertainment India Pvt Ltd Whether High Court is justified in disposing of appeal with one paragraph order without discussing issues which arose for consideration - NO: SC - Case remanded: SUPREME COURT OF INDIA 2022-TIOL-426-HC-DEL-BM Jayant Nanda Vs UoI Whether Assessee is permitted to travel to foreign amidst pending investigation under Black Money Act but subject to several conditions, if no summons are pending against him - YES: HC - Case disposed of: DELHI HIGH COURT 2022-TIOL-339-ITAT-INDORE Manish Kumar Kedia Vs ACIT Whether Revenue can not make ad hoc addition of jewellery seized during search if assessee has substantially explained entire quantity/weight of gold and other valuable stones - YES : ITAT Whether without considering status of assessee family merely based on search, AO can not make addition of entire Jewellery seized - YES : ITAT - Assessee's appeals allowed: INDORE ITAT 2022-TIOL-338-ITAT-INDORE DCIT Vs Alpha Laborities Pvt Ltd Whether commission paid to agents can be allowed if all necessary details including PANs, supporting vouchers are provided and assessee has deducted TDS wherever applicable - YES : ITAT - Revenue's appeal dismissed: INDORE ITAT 2022-TIOL-337-ITAT-DEL Rathi Bars Ltd Vs ACIT Whether addition can be made over and above assessee's income for AY completed prior to date of search without incriminating material found during course of search – NO: ITAT - Appeals partly allowed: DELHI ITAT

TODAY'S CASE (INDIRECT TAX)


	Trade tax - Benefit u/s 3-H(3) of U.P Trade Tax Act, 1948 by adjustment is to be within monetary limits specified in eligibility certificate issued u/s 4-A: SC

MISC CASE

2022-TIOL-28-SC-MISC

Commissioner of Trade Tax Vs Santosh Kumar Kushwaha

Whether benefit u/s 3-H(3) of U.P Trade Tax Act, 1948 by adjustment is to be within monetary limits specified in eligibility certificate issued u/s 4-A - YES: SC

Whether once assessees have availed benefit of one-time settlement schemes, then Trade Tax Department is not liable to refund any amount payable as assessees would be bound by declarations made and benefit granted under said scheme - YES: SC

- Revenue's appeal dismissed: SUPREME COURT OF INDIA

NEWS FLASH


	Russia offers India USD 35 per barrel rate for import of oil US, Australia flay India for bypassing sanctions and entering into Rupee-Rouble payment system SC nullifies 10% quota offered by TN to Vanniyar community Two killed as gunman opens fire at McDonald's restaurant in Netherlands

TOP NEWS


	AAI issued award letters for nine FTOs to be established at five airports Prof Ashutosh Kumar appointed as first visiting professor to T. N. Seshan Chair at IIIDEM

CIRCULAR


	it22cir07 Clarification with respect to relaxation of provisions of rule 114AAA of Income-tax Rules, 1962 prescribing the manner of making Permanent Account Number (PAN) inoperative

NOTIFICATION


	dgft21not064 FTP 2015-2020 extended till September 2022

PUBLICE NOTICE


	dgft21pn053 Validity of existing HBP extended till September 2022

TIOL PRIVATE LIMITED.
TIOL HOUSE, 490, Udyog Vihar, Phase - V,
Gurgaon, Haryana - 122001, INDIA
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