Home Highlights January 2011 Year 2011 This

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1. Validity of reopening of assessment - Enquiry to be conducted before issuance of a notice by the AO u/s 148A(a) - The High court found that conducting an inquiry before...

2. Jurisdiction of Additional CIT - The Standing Counsel should understand that this Tribunal is not to decide the mercy petition but has to decide the issue before it in...

3. Dishonour of cheque - no order for conversion into summons triable matter - application of Section 145(2) of Negotiable Instruments Act, 1881 - violation of natural...

4. Disallowance on account of loss on error trade - due to human error in punching the wrong scrip code, or punching of wrong quantity or in punching buy order in place of...

5. Oppression and mismanagement - conduct of due election of the Board of Directors - Lame excuses to conduct the election cannot be accepted for not conducting the...

6. Nature of services can not be decided on the basis of registration certificate - The nature of service rendered by the assessee is a question of fact decided on the...

7. Conduct of IRP - Validity of order whereby application for initiation of CIRP was accepted - Settlement between the Corporate Debtor and the Operational Creditor - IRP...

8. Unexplained deposits - Genuineness of earnest money received against sale of agriculture land - Time lag of 11 months for getting the sale deed registered after the date...

9. Revision u/s 263 - the facts demonstrate that necessary enquiry have been conducted by the AO and relevant documents regarding the issue was received by the AO - CIT may...

10. Jurisdiction to conduct audit - the petitioner's registration is cancelled, now he is an unregistered concern - On perusing Section 65, it is stated that the audit can...

11. The appellate authority erred in deciding the appeal ex-parte in the absence of the appellant or their counsel. The statutory mandate requires the appellate authority to...

12. Addition u/s 68 - unexplained money receipt in the form of share capital/share premium - The reasoning given is contrary to human probabilities, for in the normal course...

13. Unexplained gifts - the gifts in question suffer from improbabilities which cannot be held as normal human conduct and the AO had rightly held the gifts to be...

14. GST rate on Human Blood Plasma - normal human plasma would attract 5% GST rate under List I (S. No. 186), whereas plasma products would attract 12% GST rate, if...

15. The Income Tax Appellate Tribunal (ITAT) examined the taxability of income in India regarding management service fees. For quality development and training services, the...