CESTAT Ahmedabad held that allegation of clandestine removals based upon the confessional statement of other persons or the documents recovered from the third party premises, without corroboration of the said documents is unsustainable
NCLT Mumbai held that obligations under the Undertaking do not attract the definition of financial debt. A fortiori, an indemnity of the obligations under the Agreement will equally not constitute a financial debt under Section 5(8) of the Code.
ITAT Ahmedabad held that donations which are not voluntary in nature cannot be treated as corpus donation and hence not eligible for deduction u/s 11(1)(d) of the Income tax Act
Orissa High Court requested the proper officer to grant opportunity to the petitioner for taking all required step to revive registration and also permitted to pay pending GST tax and file the pending GST return prior to cancellation of GST registration u/s 29(2)(c).
ITAT Pune held that AO had not brought any material indicating the existence of an arrangement between the assessee company and its foreign AE, as a result of which more profits than ordinarily have been produced to the assessee company. Hence, provisions of section 10B(7) r.w.s. 80IA have no application.
CESTAT Ahmedabad held that Alloy Steel Forging (machined) requires to undergo further operation to be ready to use as Rings for Bearing etc. Hence the same is classifiable under tariff heading 7326 Other Articles of Iron or Steel and not under chapter 84.
As appellant had not taken registration and had not filed ST-3 returns within the prescribed time, penalty imposed under Section 77 was justified.
Sajjanraj Mehta Vs ITO (ITAT Mumbai) During the appellate proceedings, the appellant vide letter dated 03/04/2018 submitted that the AO has made addition ignoring the 1st and 2nd proviso to section 56(2)(vii)(b) inserted by Finance Act, 2013 w.e.f. 01.04.2014. The appellant was allotted flat no. 502 in the building Kamla Astral, Dadar for a total […]
Charging of shareholder with crime under PMLA cannot be a ground to attach property of Company unless there is an allegation that property acquired by company was from proceeds of crime.
SC observed and held that in a tax matter when a statutory remedy of appeal is available, the High Court ought not to have entertained the writ petition under Article 226 of the Constitution of India against the Assessment Order by-passing the statutory remedy of appeal.
