Home Highlights December 2014 Year 2014 This

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1. Validity of remanding the matter to the Assessing Authority - the first appellate authority has adjudicated the controversy on merits and therefore, the tribunal, which...

2. Capital gain tax - Transfer of shares by assessee to its wholly owned subsidiary - transfer of shares by way of alleged gift - the transaction is a circular transaction...

3. Validity of the order of ITAT - Matter remitted back to the file of the Assessing Officer for reconsideration by Tribunal - Bogus LTCG - There was no material, which...

4. The High Court dismissed the appeal filed by the assessing officer against the order of the Income Tax Appellate Tribunal, holding that no substantial question of law...

5. Clandestine manufacture and recovery of Central Excise Duty along with interest and penalty - suppression of facts and misrepresentation alleged against petitioner -...

6. Recording of wrong facts & reasoning by Tribunal - Tribunal did not correctly appreciate as to what AO and CIT (A) held and what was their reasoning which led to their...

7. Estimation of income on account of “on-­money” - As the last fact finding authority, the Tribunal was not empowered to apply the formula and which was invented by it.

8. Tribunal is custodian of the 1961 Act and is the last fact finding authority vested with powers of wide amplitude to enforce implementation of the provisions of the 1961 Act.

9. Interpretation of statute - scope of Support Services of Business or Commerce - The Tribunal which is the last fact finding authority in the hierarchy of authorities...

10. Principles of natural Justice - the order of Appellate Tribunal passed without dealing with any of the submissions made by the appellant - It is evident that the...

11. Reassessment proceedings were initiated based on the belief that the assessee failed to disclose all material facts necessary for completing the assessment u/s 143(3) of...

12. Gross violation of CBEC instructions and the precedential value of CESTAT decisions. The Revenue filed an appeal before the first Appellate Authority without specifying...

13. Initiation of re-assessment proceedings/revision - Jurisdiction - The only error that appears to have crept in the order of the appeal authority as has been confirmed by...

14. Tribunal held Adjudicating Authority's order cryptic, failing to examine appellants' defense regarding legitimate procurement and supply of gold as business transaction....

15. Rejection of application of the petitioner for refund - Writ petition filed instead of appeal before GST Tribunal - It needs no iteration that the Appellate Tribunal is...