The Hon’ble Tribunal while allowing Revenue Appeal have held that when the amounts received in cash against the sale of flats which have not been recorded in the books of account of the assessee at the time of search and seizure operation and subsequently recorded in the books as advance from customers is nothing but an eye wash to supplement the explanation of the assessee regarding the cash receipts. Therefore the addition made by the AO deserves to be confirmed in the hands of the assessee u/s 69A of the Act.
Read judgment of Bombay High Court in case of Mayel Steels Pvt Ltd vs Union of India. Court held that respondent acted arbitrarily in canceling GST registration and directed that proper notice should be served to dealers.
ITAT Amritsar held that transfer of REC (Renewable Energy Certificate) is capital in nature and not liable to tax under business income as the income is offshoot from environmental concern not from offshoot of business concern.
Bombay High Court held that in absence of any specific provisions in the statute, duty or penalty liability of the company cannot be recovered from its Director, who is not personally liable towards liability of the Company.
The Andhra Pradesh High Court has held that life tax is to be collected from the vehicle owner upon sale based on the net invoice price of the vehicle and not the ex-showroom price of the vehicle. The life tax can be levied only on the cost of the vehicle under the 6th schedule of the A.P. Motor Vehicles Taxation Act
MCA levied a penalty of Rs. 4 lakh on Giriraj Ginning and Pressing Private Limited for non-compliance with requirement of maintaining a registered office. Learn more about the violation and the penalties imposed.
Review of the ITAT Indore verdict in the case of Shri Manish Kumar vs ACIT, where the tribunal directed re-adjudication of a disputed credit card expenditure and ordered the deletion of disallowance initially made by AO.
ITAT Cochin held that prior to 1st June 2015, there was no provision enabling demand in respect of levy of fees u/s 234E for late filing of TDS/ TCS statement. Accordingly, imposition of late fees prior to 1st June 2015 is bad-in-law.
ITAT Bangalore held that pre-clinical laboratory services rendered by the assessee (non-resident) to its customers in India would not be chargeable to tax in India as the technical services rendered by the affiliates do not “make available” technical knowledge, experience, skill, know-how or process while preparing these reports for their, Indian customers/ clients.
The ITAT Indore supports the principle of natural justice by asking for re-adjudication of the case of R.M. Chemicals Private Limited vs DCIT due to insufficient opportunity provided to the assessee in the initial assessment.
