Gujarat HC strikes down unconstitutional amendment to sec. 80-IB taking away tax benefit with retro-

IT : Amendment made in section 80-IB(9) by adding an Explanation was not clarificatory, declaratory, curative or made "small repair" in the Act, but on the contrary takes away the accrued and vested right of the Petitioner which had matured after the judgments of ITAT. Therefore, the Explanation added by Finance (No.2) 2009 was a substantive law. Explanation added to Section 80-IB(9) by Finance Act (No.2) of 2009 is clearly unconstitutional, violative of Article 14 of the Constitution of India a

Govt. announces list of ROCs appointed as adjudicating officers for adjudging penalties under Cos Ac

COMPANIES ACT, 2013 : Section 454 of the Companies Act, 2013, read with the Companies (Adjudication of Penalties) Rules, 2014 - Adjudication of Penalties – Appointment of Specified Registrar of Companies as Adjudicating Officers for Purposes of Said Act in Respect of Jurisdictions Indicated against Each Specified Registrar

Section 271AAA and sec. 271(1)(c) have different concomitant scope; to operate exclusively

IT: Section 271AAA and section 271(1)(c) have different concomitant scopes and are mandated to operate exclusively

CIT couldn't deny sec. 10(23AAA) approval to 'employees welfare trust' due to payment of corpus by e

IT : Where commissioner had wrongly interpreted rule 16C and held that employer could not made any payment for corpus of employees welfare fund, order of Commissioner to reject registration under section 10(23AAA) was to be set aside

HC set aside recovery proceedings as department had initiated recovery without adjudication

Service Tax : Recovery proceedings under section 87 cannot be initiated without first completing adjudication under section 73 or 73A

Co. outsourcing its activities couldn't be compared with a Co. providing services of its own

IT/ILT : A company mainly outsourcing its activities cannot be compared to ITES service provider rendering services by its own

Gain arising from sale of asset couldn’t be taxed under sec. 50 if asset wasn’t part of block of ass

IT : Godown purchased in 1969, but not used since 1985-86 on which no depreciation was claimed in subsequent years, would not be included in block of assets in view of newly introduced section 50 w.e.f. 1-4-1988; profit arising on sale could not be taxed as short-term capital gain but as long-term capital gains

Co. which lost its substratum after quashing of its 2G license by Supreme Court was to be wound up

CL : Where company had lost its substratum on account of quashing of 2G licenses by Supreme Court and there was complete lack of faith and probity resulting in irretrievable breakdown between major shareholders of company and liabilities of company had far exceeded its assets, it was just and equitable to wind up company under section 433(f)