Ekta, Author at SCC Times

reassessment notice barred by limitation

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘Escaped income is below Rs 50 lakhs’; ITAT quashes reassessment notice under S.148 Income Tax Act issued beyond prescribed limitation of 3 years

A notice under Section 148-A(b) of the Income Tax Act, 1961 was issued to the assessee, stating that income had escaped assessment under the provisions of Section 147, regarding sale, purchase of properties and contractual receipts.

clubbing assessee's income with minor daughter's share

Case Briefs Tribunals/Commissions/Regulatory Bodies

Assessee’s income for tax assessment cannot be clubbed with minor daughter’s share of sale proceeds, deposited as per Court’s order: ITAT

The assessee deposited 50% minor daughter’s share in the nationalized bank. Further, the assessee accounted his 50% share and offered the same as capital gain with the deduction of claim under Section 54 of the Income Tax Act, 1961.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Notice to deceased assessee must first be served on legal heirs; once on record, legal heirs represent deceased assessee: ITAT

In the present case, notice under Section 148 of Income Tax Act, 1861 is not served on legal heir of the assessee. The said notice is served on the assessee, even after the knowledge that the assessee is deceased.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Read why Securities Appellate Tribunal granted relief to Naman Broadcasting in Sadhna Broadcast stock manipulation case

Naman Broadcasting amongst others was alleged to contravene the provisions of Securities and Exchange Board of India Act, 1992 by using digital platforms to mislead the investors. It was alleged that the price and volume of the scrip was manipulated through a coordinated scheme involving dissemination of misleading information and structured trades among connected entities.

independence and impartiality of arbitrator

Case Briefs High Courts

Read why Bombay HC dismissed petition seeking substitution of Arbitrator over independence and impartiality; highlights Arbitrator’s impeccable conduct

“The issue of under-stamping is often weaponized in arbitral proceedings and used to trip up the adjudication of disputes by way of arbitration. Arbitrators, being private persons, tend to be timid and send the instruments to the Stamp Authorities despite being entitled to compute the stamp duty amount and penalty component themselves.”

Case Briefs High Courts

Read why Gujarat HC upheld acquittal in SC/ST Atrocity Case over absence of ‘public view’ and ‘intentional insult’

“In an acquittal appeal if other view is possible, then also, the appellate court cannot merely substitute its view by reversing the acquittal into conviction, unless the findings of the trial Court are perverse, palpably wrong, manifestly erroneous or demonstrably unsustainable.”

Case Briefs High Courts

READ WHY Madras HC ordered fresh investigation in POCSO case despite negative DNA report of the accused

“POCSO offences are grave and demand stringent punishments along with meticulous investigations to deliver justice. It is imperative for the prosecution to conduct thorough and proper investigations reflecting the severity of these offences.”