From Published Accounts

Accounting For Damage To An Integrated Factory Under Construction

Recent Amendments In The Foreign Contribution (Regulation) Rules

Section 5 Of Limitation Act: Condonation Of Delay Under GST

A Guide to Health and Wellness for CA Professionals

Reading Climate Risk Like A Balance Sheet

Fatal Or Forgiven – How Courts Apply Mandatory Vs. Directory Rules

Jaspal Singh v. Ashwani Kumar: Absence of express stipulation for specific performance in agreement to sell does not bar decree for specific performance.

Ravi Kant Gupta v. State of Uttar Pradesh: Maintenance Tribunal under Senior Citizens Act possesses incidental power to order eviction of children to ensure maintenance and protection.

Lakshmi Mohan v. Airtech Projects Engineers Pvt. Ltd.: Minor shortfall in EMD prescribed by sale notice does not invalidate auction sale under SARFAESI Act if cured.

Manav Bhanot v. National Highway Authority of India: Compensation benefits for highway land acquisitions determined before 01.01.2015 are computed under Land Acquisition Act, 1894.

Maya Banerjee v. Union of India: Arrears of family pension are payable from the date of employee’s death, not restricted by subsequent delayed approach.

Arpit Katyal v. Initiating Officer: Purchase from fictitious entity non-filer triggers Benami property prohibition provisions under Section 2(9)(B).

DCIT v. Bharathi & Anr.: Statement in cross-examination admitting ownership prevails over income tax statements in determining Benami property transactions.

Bandana Pattanayak v. Initiating Officer: Property purchased in relatives’ names using brother’s unevidenced loan funds constitutes a benami transaction, satisfying future benefit provisions.

P Balaraman & 5 Others v. The India Envelopes Ltd.: Corporate powers cannot be exercised to secure collateral benefits for directors; improper property sales constitute oppression and mismanagement

M/s Jindal Poly Films Limited v. Ankit Jain & Ors.: Minority public shareholders holding over threshold can maintain class action suit against promoter related-party transactions under Section 245.

Class Action Suits: A New Dawn in Minority Protection

Terminology, Triggers, And Disclosure Requirements – SAST SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011

Assistant Commissioner of Income Tax v. Omaxe Limited: Settlement Commission orders under Section 245D(4) are conclusive, barring Assessing Officers from initiating reassessment proceedings under Section 148.

CIT v. Baba Gandha Singh Education Trust: Generating surplus funds by an educational trust does not justify cancelling Section 12AA registration without proof of non-object activities

Pr. CIT v. J D Exim (P.) Ltd.: Unexplained cash additions under section 68 cannot be sustained when money was received in a prior financial year.

Jyoti Sareen v. UOI: Reassessment notices issued by jurisdictional AOs without randomized automated allocation in a faceless manner under section 151A are void.

Pr. CIT v. The Bombay Dyeing and Manufacturing Co. Ltd.: An assessment order passed pursuant to a Section 263 revision order cannot survive after the revision order has been quashed

Rajib Mukhopadhyay v. DCIT: Satisfaction notes issued ten months after completing assessment of the searched person are time-barred and invalid under Section 153C.

Pr. CIT v. Rhythem Real Estates Pvt. Ltd.: Presumption under Section 132(4A) applies to searched persons, not third parties, requiring independent evidence for Section 69B additions.

Shri Sant Ram Memorial Education and Welfare Society v. Exemption Ward: Where a society runs multiple educational institutions from a common campus, receipts must be aggregated to determine exemption limits under section 10(23C)(iiiad).

Ameeta Jagdish Thackersey v. Income-tax Officer: Given conflicting judicial views regarding Portfolio Management Services fee deductions under section 48, the construction most favourable to the assessee applies.

Manish Pushkar Dayal Singhal v. Income-tax Officer: Penalty under section 271B was deleted because the assessee maintained a bona fide belief regarding turnover calculation thresholds for tax audit.

Addl. CIT, Special Range-7 v. PNB Gilts Ltd: Sufficient interest-free funds preclude interest disallowance under section 14A, and mark-to-market losses on stock-in-trade are allowable as legitimate valuation losses.

Melongos India (P.) Ltd. v. Income Tax Officer: Each registered sale deed represents an independent transfer chargeable in its respective year, and appellate authorities may evaluate fresh deduction claims.

IMAX Theatre Services Ltd. v. ACIT (IT): Rendering remote maintenance services through an independent Australian vendor’s employee staying under 90 days does not constitute a fixed place PE.

Honda R & D Company Ltd. v. ACIT(IT): Cost-to-cost reimbursement of salary paid to seconded employees did not constitute fees for technical services under India-Japan DTAA.

What Is A CA Firm Really Worth?

From The President

Decoding GSTAT – Early Trends From Select Decisions

Recent Decisions in GST

Recent Developments in GST

कोSर्थवान् को दरिद्र: ! (Who Is Rich And Who Is Poor?)

(Prove The Relationship!)

ICAI and Its Members

Is It Fair To Deny Tax Neutrality To A Demerger The MCA Has Just Approved?

Miscellanea

Regulatory Referencer

Learning Events at BCAS

Statistically Speaking