ITAT Kolkata held that penalty under section 271B of the Income Tax Act not leviable as turnover of the assessee is less than INR 1 Crore. Accordingly, the assessee is outside the purview of section 44AB of the Income Tax Act.
Madras High Court held that the suit can be maintained by a representative of the Trust in terms of the Trust Deed for and on behalf of the Trust.
Delhi High Court held that if the investigation is not completed then merely because the report has been filed, the right of statutory bail cannot be defeated. Merely filing of chargesheet, whether incomplete or piecemeal, cannot defeat the basic purpose of section 167(2) of Cr. P.C.
ITAT Kolkata held that initiation of reassessment proceeding under section 148 of the Income Tax Act for the purpose of mere verification of the claim is unsustainable in law.
CESTAT Bangalore held that order of the lower authorities directing absolute confiscation and allowing redemption solely to re-export on payment of redemption fine and penalty is without any merit.
CESTAT Ahmedabad held that excess tax paid is adjustable in terms of rule 6(4A) of the Service Tax Rules, 1994 against tax liability arising in subsequent months.
ITAT Amritsar held that high seas sale transaction cannot be treated as speculative transaction as entire transaction is going through by proper delivery of the goods during purchase and the documents are provided for evidence of delivery of goods.
Karnataka High Court set aside the endorsement and directed the authority to reconsider the application under Karasamadhana Scheme
CESTAT Chennai held that total CENVAT credit for the purpose of formula under Rule 6 (3A) is only the total cenvat credit on common input services and will not include CENVAT credit on input / input services exclusively used for the manufacture of dutiable goods.
CESTAT Ahmedabad held that certificate issued by qualified professionals like Cost Accountants cannot be brushed aside merely with the statement that corroborative evidence was not produced. Such certificates are needed to be accepted by the department unless investigation is undertaken in doubtful cases.
