Home Highlights July 2012 Year 2012 This

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1. Benami Property Transaction - title over the suit properties - Moreover purchase of a property by husband in the name of the wife cannot be called a benami transaction...

2. Penalty u/s 271(1)(c) - According to the assessee she was not having income exhibiting taxable limit in the past, but she has made small savings. When she filed the...

3. Prosecution proceedings for offence u/s 276C and 277 of IT Act - Mere showing ignorance by one of the assessees by maintaining that only her husband is aware of the...

4. Validity of Rules 1 and 2 of the Bar Council of Gujarat (Enrollment) Rules - It is too much to say that a person desirous to get himself enrolled as an Advocate with the...

5. Agricultural income or not - Since no agricultural income has been shown by assessee’s husband in this year, the entire income has been considered as ‘income from other...

6. Unexplained investment u/s 69 - family transaction - assessee has submitted that the assessee’s husband was a power of attorney holder of the property and could not...

7. LTCG - Claim of deduction u/s. 54F - Even before us at this stage, the assessee has not produced any evidence to prove that she had invested in another residential house...

8. Preferential Transactions - The expression “financial affairs of the Corporate Debtor” cannot be given an extended meaning as contended by Learned Counsel for the...

9. Authority under the Customs Act to proceed against the property of a third party - Prohibition of Benami Property Transactions - The High Court emphasizes that...

10. Deduction u/s 80IA - treating the assessee-company as a ‘Contractor’ and not ‘Developer’ by the Department - merely because in the agreement for development of...

11. Indirect contribution of wife in the purchase of the property - Joint properties purchased by husband and wife [housewife] - legal owner - the 1st defendant/wife has...

12. Benami transaction - burden of proof - principle of preponderance of probability that although the suit property was purchased in name of Wife but the consideration...

13. Benami Transactions - family arrangement - exception in Section 4(3)(a) of the Benami Act - The bar of Benami under Benami Act requires examination of factual aspects...

14. Dishonor of Cheque - acquittal of accused - Existence of debt - As stated earlier, at one breath she says that amount is deposited by her and at another breath she says...

15. Dishonor of Cheque - insufficiency of funds - There is nothing on record to show that the husband and wife were at logger heads or that they were living separately. Her...