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Cus - Although imports were made from different customs locations, only Delhi SVB has issued SCN, therefore, there is no question of appointing any common adjudicating authority and keeping the proceedings in abeyance till then: HCBihar flood woes - Former IRS officer Anup Srivastava says do not put blame on Nepal and simply act nowDRI Officers are not Police Officers and, therefore, are not obliged in law to register FIR against person arrested in respect of an offence u/s 133 to 135 of Customs Act, 1962: HCSince Customs/DRI Officers are not Police Officers, statements made to them are not inadmissible u/s 25 of Evidence Act: HCOne-District-One-Product scheme encouraging domestic manufacturingFDI in defence - Govt reviews Press NoteDRI, CGST officers escape gunfires; seize 5 kg smuggled gold near Jodhpur + Three smugglers nabbedTrump unlikely to attend in-person General Assembly session of UN on 75th anniversaryCBIC modifies Bill of Entry (Forms) Regulations 2020; notifies new Forms I, II & IIICBIC reduces BCD on Lentils (Masoor) for period between Sept18-Oct 31, 2020CBIC gives effect to new Section 28DA of Customs ActOver 5000 cases disposed of since partial lifting of lockdown: ITATGovt extends validity of ceiling prices of Knee Implants till Sept, 2021ESIC invites submission of claims for unemployment benefitImport Policy amended for random sampling of LED productsAll Opposition parties minus Congress protest against GST Compensation issueGST Compensation Row Should Aid Enactment of Govt Debt LawHarsimrat Kaur protests against farm bills; puts in papersAnti-Profiteering under GST - An analysis of the nature and structure of NAACus - Non-implementation of appellate order strikes at the very root of administrative discipline - result will be undue harassment to assessees and chaos in administration of tax laws: HCCus - Even if any prayer is made, that cannot be a ground to compel the owner from accepting provisional release of goods with conditions despite there being an appellate order in his favour: HCCX - Principal manufacturer is not liable to pay duty on waste & scrap generated by job worker in course of processing of goods sent by the former: CESTATRegistration u/s 12AA cannot be denied to a trust even if its charitable activities have not yet commenced: ITATCIT(A) is obligated to decide an appeal on merits & cannot dismiss appeal for non-prosecution: ITATCBIC notifies Customs exchange rates for export & import purposesIncome Tax raids hotelier at many places in Jammu & KashmirGST - Breezily e-invoicing amidst COVID-19 - Voicing concerns crawling lately!Criminal Law Reform Committee collecting suggestions from all quarters
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August 31, 2020

++ Expenses incurred on repair & renovation, meant for preserving & maintaining an existing asset, qualify as revenue in nature: ITAT

++ Penalty u/s 271B is not imposable if AO fails to verify audit status of books of account before specified date & only emphasizes on furnishing audit report: ITAT

++ Receipt of on-money, being prevalent practice in sale or purchase of property, cannot per se lead to presumption of concealment of income or evasion of tax: ITAT

++ AO is obligated to record specific findings at time of imposition of penalty: ITAT

August 29, 2020

++ Income arising from collection of maintenance charges is taxable as income from other sources and not as income from house property - expenses incurred on maintenance of property are deductible from such income: ITAT

++ Only that income which falls under the deemed provisions mentioned in the I-T Act, would be taxable under the deeming provisions - any other income not evisaged by the Act cannot be made taxable on notional or hypothetical basis: ITAT

++ Additions on account of unexplained cash credit are unwarranted when there is a verifiable trail relating to cash withdrawals: ITAT

++ Additions framed on account of bogus purchases are unsustainable if based solely on information sourced from the Investigation Wing: ITAT

August 28, 2020

++ Purchases made by assessee cannot be deemed to be bogus, if they tally with corresponding sales & stock figures in books of accounts: ITAT

++ A society must furnish details such as constitution of its members, funds received & their utilisation towards its stated charitable objectives, in order to be eligible for exemption: ITAT

++ Penalty proceedings u/s 271AAB can be initiated in respect of the whole of the sum which is admitted by the assessee pursuant to Search operation: ITAT

++ AO cannot pass penalty order u/s 271(1)(b), without first issuing SCN specifying the grounds for which penalty is being imposed: ITAT

August 27, 2020

++ Reasoned order must necessarily be passed while allowing fully or partly, any refund claimed by assessee: HC

++ Transfer of assessment to a new AO is unsustainable where no reasons are assigned for passing such order & assessee's objections to such transfer are overlooked: HC

++ Provisions u/s 139(3) pertaining to carry forward of business loss u/s 72(1) regarding filing of returns within time prescribed u/s 139(1), are also applicable to provisions relating to unabsorbed depreciation: ITAT

++ If share capital transactions are disclosed in returns filed, additions u/s 68 cannot be framed without any material incriminating the assessee, being found in Search operations: ITAT

++ Additions framed on account of unexplained cash deposits merit being reduced in quantum where some cash is utilised for meeting personal & household expenses: ITAT

August 26, 2020

++ Income tax - For purpose of capital gains tax u/s 45, date of award against land acquisition is to be construed as date of accrual of capital gains: SC Larger Bench

++ High Court's intervention is not warranted in cases involving factual disputes such as mis-match in PAN, which is caused due to confusion arising from the assessee having obtained multiple PANs: HC

++ Workstation in form of plant & machinery are inseparable from building - use of workstation & use of building are incidental - Section 56(2)(iii) is invokable here: ITAT

++ Additions framed in pursuance of Search assessment are not sustainable where no incriminating evidence is found in search proceedings: ITAT

++ Additions in respect of unsecured loans, framed on grounds that creditors did not respond to notices issued u/s 133(6) are not tenable, where assessee discharges initial burden of proving genuineness of transaction: ITAT

++ Disallowance of bogus purchases be restricted to profit element embedded in such purchases & entire quantum of purchases need not be disallowed: ITAT

August 25, 2020

++ Production of original assessment order, in process of filing appeal against it, cannot be dispensed with where no valid reasons are put forth to justify such request: HC

++ Search assessment u/s 153C is unwarranted, where no material implicating the assessee, is seized in course of Search operations conducted at third party's premises: ITAT

++ Where assessee declared higher rate of Gross Profit in subsequent AYs, the same figure cannot be adopted when estimating GP rate of current AY: ITAT

++ Additions framed on account of unexplained cash credits merit being sustained where share application money is received from a non-existent entity & where the recipient of such amount is also unable to explain its source: ITAT

++ Addition framed on grounds of bogus or unaccounted purchases made from grey market, merits being restricted to the profits embedded therein, where the corresponding sales are not doubted: ITAT

++ Non-deduction of TDS is insufficient to impose penalty u/s 271(1)(c) where genuineness of expenditure claimed or payments made, is not doubted - non-deduction of TDS is not tantamount to submitting inaccurate particulars of income or concealment of particulars of income: ITAT

August 24, 2020

++ Where assessee-company installs certain capital goods for use in business operations, it is not required to monitor the outcome of the use of such items: ITAT

++ Accrued income which was offered for taxation in earlier AYs, if received in current AY, cannot suffer tax once again: ITAT

++ Additions framed on the basis of presumption & conjecture, rather than on any cogent material, warrant being set aside: ITAT

August 22, 2020

++ Bogus purchases - quantum of additions reduced where Revenue relied solely on information sourced from DGIT (Inv) & did not carry out own inquiry, but where assessee too could not disprove such charges: ITAT

++ Additions framed u/s 68 are not sustainable where assessee discharged its onus by filing relevant documents proving genuineness of transaction & creditworthiness of shareholders: ITAT

++ Provisions of Section 43CA cannot be invoked where as per ready reckoner rate as on the date of agreement to sell property, there is no difference between consideration received & ready reckoner rate for the purpose of payment of stamp duty: ITAT

++ Where assessee is compensated by the State Govt for acquisiton of land coupled with TDR rights, it is unfair for Revenue to presume cash transaction & invoke provisions of Sec 50C: ITAT

August 21, 2020

++ Though cess is collected as part of income tax, the same does not render such cess to be taxable u/s 40a(ii): ITAT

++ Framing of disallowance without recording satisfaction as mandated u/s 14A(2), is not sustainable: ITAT

++ Assessment proceedings become non est where they are conducted in respect of a non existent entity: ITAT

++ Additions framed u/s 153A are not sustainable where any evidence incriminating the assessee is not found during search proceedings: ITAT

August 20, 2020

++ Reassessment proceedings initiated based on claims accepted by AO at the time of original assessment, amounts to be change of opinion in the absence of any new facts or material: ITAT

++ Bank guarantee commission, interest on TDS, interest on service tax and interest on professional tax cannot be considered for purpose of disallowance u/s 14A r.w. Rule 8D: ITAT

++ If TDS exemption certificate is valid throughout that FY in which there is no question of late deduction, then no interest is payable: ITAT

August 19, 2020

++ It is settled stance in law that penalty cannot be initiated for that provision of Section 271(1)(c), which is different from the provision for which penalty proceedings are initiated: ITAT

++ AO cannot record findings behind assessee's back & not provide any reasons behind the same - additions framed in such manner are unsustainable: ITAT

++ Bogus purchases - quantum of additions merits reduction where AO relies solely on information sourced from DGIT (Inv) & does not conduct own enquiry, but where assessee too fails to disprove such charges: ITAT

++ Benefit u/s 54EC cannot be withheld if sale proceeds are invested in notified bond within stipulated period: ITAT

August 18, 2020

++ Penalty is imposable only when there is a wilful attempt to evade payment of tax, such as making false entries in books of accounts: HC

++ Where revisionary order passed u/s 263 is set aside, then assessment order passed in consequence thereto merits being quashed as well: ITAT

August 17, 2020

++ Fact of the payer having deducted TDS cannot be taken as sole decisive factor to treat the amount paid to be the income of the recipient: ITAT

++ During reopening of assessment, AO cannot examine issues other than those in respect of which such proceedings were initiated: ITAT

++ A cooperative society not engaged in banking operations is not eligible for deduction u/s 80P(2)(a)(i): ITAT

++ AO cannnot ignore the reply of show cause notice by the assessee requesting time to file objection before AO: HC

August 14, 2020

++ AO is not expected to raise additional queries where already satisfied about admissibility of claim on the basis of materials & details supplied: ITAT

++ Addition framed for bogus purchases merits reduction in quantum, considering the peculiar nature of the assessee's business: ITAT

++ As balance amount of VAT & taxes payable is closing balance of the earlier AYs which is brought forward to current AY, such amounts cannot be disallowed u/s 43B: ITAT

August 13, 2020

++ Payments made by cheque are per se not sacrosanct enough to prove genuineness of purchases, where the surrounding circumstances are suspect: ITAT

++ In case of bogus purchases made from Hawala dealers, only the profit element embedded therein is to be taxed - estimation of such profit depends on facts & circumstances of each case: ITAT

++ Not substantiating a particular claim cannot be construed to be concealment of particulars of income, so as to invite penalty u/s 271(1)(c): ITAT

++ Additions framed solely based on information sourced from third parties, are not sustainable, where not backed by independent inquiry: ITAT

August 12, 2020

++ Salary paid to employees cannot be disallowed without brining anything on record to prove that such payments were bogus in nature: ITAT

++ Provisions of Section 36(1)(viia) specifically permit deduction in respect of provision for bad & doubtful debts made by assessee: ITAT

August 11, 2020

++ Completed assessments can be interfered with by the AO while making assessment u/s 153A only on the basis of some incriminating material unearthed during search & which was not produced during original assessment: ITAT

++ Consideration paid for purchase of property cannot be presumed based on unsubstantiated notings on loose paper seized during search operation: ITAT

++ Re-assessment notice is sustainable where the Revenue receives fresh material to infer escapement of income chargeable to tax: ITAT

++ Provisions of Section 50C cannot be invoked by disregarding the actual market value of the property on account of the litigation involved in respect of the property: ITAT

August 10, 2020

++ Completed assessment cannot be re-opened consequent to search operations, where no material incriminating the searched party is found during such proceedings: ITAT

++ Amount paid as commission cannot be disallowed for non-deduction of TDS u/s 40(a)(ia), where such amount paid is less than Rs 10000/-: ITAT

++ Revenue's appeal which is dismissed on grounds of low tax effect prescribed in relevant CBDT Circular, cannot be resurrected by re-categorizing the matter under a different Circular: ITAT

++ Delay in e-filing of appeal can be condoned where defects in it were removed & appeal is filed within a reasonable period being less than one month of being instructed to do so by CIT(A): ITAT

August 08, 2020

++ Expenses incurred by a hotel on renovation & repair of rooms, do not qualify as capital expenditure, where there is no guarantee that such changes would last very long & if the hotel is not being empowered to raise room tariff: HC

++ A crime investigation agency set up by the Government is not eligible for registration u/s 12AA & u/s 80G as its activities are not categorised as charitable in nature: ITAT

++ Disallowance u/s 40A(2)(b) can be made solely because the rent payment was made to a related person of the assessee company: ITAT

August 07, 2020

++ Provisions of Section 47(v) are invokable only where entire share capital of the subsidiary company is be held by the holding company: HC

++ Case warrants remand where CIT(A) sustains disallowance of provisions for warranty without recording findings on assessee's past records & whether such provision was made on a scientific basis: ITAT

++ Re-opening of assessment is invalidated where not based on any tangible evidence which leads to formation of belief of some taxable amount escaping assessment: ITAT

++ Expenses incurred on victory celebrations of certain politicians in elections & incurred on erecting their posters, is not allowable expenditure u/s 37: ITAT

August 06, 2020

++ Disallowance made u/s 14A r/e Rule 8D cannot exceed quantum of exempt income: ITAT

++ If an issue is already subject matter of enquiry during original assessment, then re-opening of assessment to revisit the same issue, would be based on change of opinion & unsustainable: ITAT

++ Expenses incurred on education of an employee, conditional upon the employee serving in the employer-company, is allowable as business expense, considering that the employer's business would benefit therefrom: ITAT

August 05, 2020

++ Order passed u/s 201(1) & 201(1A) is not sustainable where the officer who passed such order is not vested with jurisdiction over TDS matters: ITAT

++ Tax and interest liability computed by AO on a different sheet of paper, will form part of the assessment order where the AO approves such computation immediately or some time later: ITAT

++ Provision for costs on completed contracts based on identified & ascertained present liabilities, is allowed where based on technical assessments & projections of project managers, who are experts in their field: ITAT

++ Difficulty in activation of TAN & being informed about TDS liability only upon receiving demand notice, is sufficient plea to explain delay in filing returns: ITAT

++ Once assessee accepts the goods purchased from the railway as scrap & allows TCS, then such goods resold by assessee will not part take a different character: ITAT

August 04, 2020

++ Interests of the Revenue lie in collecting tax in a legal & justified manner - taxes collected in excess of what is payable cannot be retained or be treated as revenue: HC

++ Assets received on partition of property cannot ipso facto be treated as capital assets, where there is no provision in the I-T Act to such effect: HC

++ Deemed dividend can be assessed only in case of a person who is a shareholder of lender company & not in the hands of any other person: ITAT

++ It is apt for AO to verify assessee's claims of having incurred expenses in course of business, where assessee puts forth no corroborative evidence to justify such claim: ITAT

August 03, 2020

++ Advance made by subsidiary company to its holding company in course of business, for providing of corporate guarantee by the latter company, is not treatable as deemed dividend: HC

++ Cooperative society is entitled to deduction u/s 80P even where it is engaged in banking or financial activities: HC

++ Power of revision is rightly exercised, where original assessment order is erroneous and prejudicial to Revenue's interest, where AO failed to invoke provisions of Section 50C despite its applicability: ITAT

++ Search assessment u/s 153C cannot be intiated against an assessee based on material found during Search operations conducted at premises of a third party: ITAT

August 01, 2020

++ It is fit case for remand where assessee is unable to participate in proceedings due to the lockdown caused by the COVID pandemic: ITAT

++ Levy of fees u/s 234E is not permissible adjustment contemplated u/s 200A for the period prior to June 01, 2015: ITAT

++ Additions framed for unexplained cash credits are unsustainable where assessee adequately explains source of deposits & where Revenue fails to justuify rejection of evidence submitted by assessee: ITAT