Initiation of reassessment after retro-amendment in sec. 80-IA to be deemed as change of opinion: HC

IT : Where Assessing Officer initiated reassessment proceeding solely on basis of insertion of Explanation to section 80-IA with retro effect, it was to be held as mere change of opinion

No tax on patasa, harada, sakaria and alchidana as they fall under Entry No. 86 of Schedule I of Guj

CST & VAT : Where assessee, a registered dealer under Gujarat Sales Tax Act, 1969, was dealing in patasa, harada, sakaria and alchidana, said items were covered under Entry No. 86 of Schedule I to Act and in any case they would fall under Entry No. 8 of Schedule IIA to Act and would be exempt from payment of tax

No capital gains when revaluation reserve is credited to partner’s capital account; not taxable unde

IT: Where revaluation of assets of partnership firm and credit of revalued amount to capital account of partners in their respective profit sharing ratio did not entail any transfer as defined under section 2(47), gains on revaluation could not be brought under tax net

CIT(A) must allow sec. 10A relief even when audit report is filed for first time before it, rules HC

IT : Proceedings before first Appellate Authority being continuation of assessment process, since audit report was produced at that stage, Appellate Authority was duty bound to take note of said audit report and grant benefit under section 10A

Bank guarantee for provisional release of goods couldn’t be revoked till adjudication even if SCN wa

Excise & Customs : Section 110(2) is not applicable where goods are provisionally released conditionally under section 110(1A) or section 110A; therefore, where department has sought bank guarantee for provisional release of seized goods, such bank guarantee need not be released until adjudication even if notice is not issued within 6 months

Govt. appoints Official Liquidator at Hyderabad for liquidation of Cos in Telengana

COMPANIES ACT, 1956 : Section 448 of The Companies Act, 1956 - Appointment of Official Liquidator - Establishment of Office of Official Liquidator at Hyderabad for Discharging Functions of Official Liquidator in Whole State of Telengana

Govt. appoints 'ROC' at Hyderabad for registration of Cos in Telengana

Companies Act, 2013 : Section 396 of The Companies Act, 2013 - Registration Offices - Establishment of Office of Registrar of Companies at Hyderabad Having Territorial Jurisdiction in Whole State of Telengana

HC upheld additions for unexplained sum as buyer confirmed payment of higher sum for purchase of pro

IT : Where search unearthed that assessee had offered less sale consideration and buyer had also confirmed said fact, difference be treated as undisclosed income of assessee

Sec. 80-IB(10) benefits available to an entity created after reconstruction of a firm already in exi

IT: Assessee was not required to fulfil conditions of section 80-IB(2)(i) for claiming deduction under section 80-IB(10) in relation to development of a housing project

Assessments to be made under Tripura VAT Act as Tripura Sales Tax Act has been repealed: HC

CST & VAT : Where Assessing Authority issued on assessee notices on 23-5-2005 for reassessment relating to assessment years 2002-03 to 2004-05 and he passed assessment orders on assessee under provisions of Tripura Sales Tax Act, 1956, in view of section 89 of Tripura Value Added Tax Act, 2004, whereby Tripura Sales Tax Act had been repealed with effect from 27-4-2005, assessment had to be done under provisions of TVAT Act