Continuation of suspension of license without examining necessity of the same impinges on fundamental right to work of applicant, application for early hearing allowed.
Secon Logistics Pvt. Ltd. vs. CC, 2022-TIOL-432-CESTAT-CHD.
HC imposes cost of Rs. 50,000 on income-tax Dept. for illegal recovery of disputed tax demand.
Rajendra Kumar v. ACIT – [2022] 138 taxmann.com 490 (Rajasthan).
Fair market value of Land/Building cannot be deduced only on the basis of comparable sales consideration furnished by sub-registrar office.
Sri Mathew Pradeep Francis Vs. ACIT, 2022-TIOL-539-ITAT-BANG.
SC decides not to pursue contempt proceedings in the matter of appointments to ITAT.
Advocate Association Bengaluru v. Anoop Kumar Mendiratta – [2022] 138 taxmann.com 435 (SC).
Disallowance u/s 14A cannot exceed exempt income.
Principal Commissioner of Income-tax v. Reliance Chemotax Industries Ltd. – [2022] 138 taxmann.com 199 (Calcutta).
Agreement can’t be said as not for tax avoidance because ultimately no tax was avoided.
UK Tribunal Tower One St. George Wharf Ltd. v. Commissioners for Her Majesty’s Revenue and Customs – [2022] 138 taxmann.com 430 (TC-UK).
Sec. 144B – Opportunity of hearing: Where assessee responded to notice of revenue while furnishing necessary information much prior to issuance of Order u/s 144B and asked for an opportunity of being heard in person, assessment order passed without granting such personal hearing was to be set aside.
Omkar Nath v. National Faceless Assessment Centre, Delhi. – [2022] 138 taxmann.com 146 (Delhi).
Sec. 70 – Set off allowed of loss suffered from transactions in derivatives, against business income earned from infrastructure business u/s 70.
Souvenir Developers India Pvt. Ltd. v. UOI, 2022-TIOL-739-HC-MUM-IT.