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Calcutta High Court held that criminal proceeding initiated in null and void as the proceeding has been initiated without a sanction order from the commissioner which is a mandatory precondition.
ITAT Mumbai held that sales tax subsidy received by the assessee is capital receipt and does not come within definition of income under section 2(24) of the Income Tax Act, 1961 and when, a receipt is not a in the nature of income, it cannot form part of book profit u/s 115JB of the Income Tax Act, 1961.
ITAT Mumbai held that assessee has duly discharged identity, creditworthiness and genuineness of the transactions of receipt of share premium of Rs. 2.25 crore received from 19 share subscribers and hence addition towards unexplained cash credit u/s 68 is unsustainable.
ITAT Delhi held that a solitary opportunity of one day to respond to show cause notice is in negation of overriding principles of natural justice accordingly revisionary order passed u/s 263 is liable to be quashed and set aside.
ITAT Mumbai held that action of AO in disallowing 50% of the depreciation and maintenance charges on the sports car is unsustainable as sports car was owned and used for the purpose of business and AO failed to establish that the sports car was not used fully for the purpose of business.
Delhi High Court held that once it is clear that C form were issued by the registered dealer holding valid registration certificate in respect of goods sold by selling dealer. Benefit of the same cannot be denied to selling dealer.
Vaztar International Pvt. Ltd. Vs Union of India & Ors. (Bombay High Court) Rejection of application filed under SVLDRS, 2019 on the ground of ineligibility with the remark that DGGI had informed that the quantification was not done prior to 30.06.2019. The Designated committee rejected SVLDRS Form-1 on the ground that the petitioner was ineligible as […]
ITAT Rajkot held that department cannot take away rights of the assessee just by inadvertent mistake committed by the assessee at the time of return filing.
Bijal Dhimankumar Vyas Vs Union of India (Gujarat High Court) The Designated committee (DC) did not consider the amount of pre-deposit made during investigation. The High Court held that the CESTAT had granted stay to the Petitioner on the basis of payment of pre-deposit. Thus, this deposit is not in dispute. The rejection was set […]
Delhi High Court held that as per Article 7(1) of DTAA attribution of profits to Permanent Establishment arises only if foreign enterprise is making a profit. The same is not applicable if foreign enterprise is making a loss.
