ITAT Ahmedabad held that Department has brought nothing on record to prove that the assessee was involved in price rigging of the instant share or that any form of cash had flown back to the assessee. Accordingly, addition on account of bogus capital gain by sale of shares unjustified.
CESTAT Chennai held that non-payment of tax merely on the basis of bald statement of financial constraint without proving the same is not reasonable cause within the meaning of section 80 of the Finance Act. Accordingly, demand confirmed.
ITAT Mumbai held that receipt of rental income by giving the land on lease to the LLP and non-utilization of the said land does not preclude the assessee to treat the same as agricultural income. Accordingly, the same is exempt.
In present facts of the case, the NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION NEW DELHI (NCDRC) observed that ownership of the vehicle would be considered to be transferred as per the provisions of Sale of Goods Act, 1930.
In present facts of the case the National Commission while dismissing the Appeal observed that the Appellant cannot take ground which are entirely different from those relied upon while repudiating the claim at a subsequent stage.
Bombay High Court held that the provisions of the Civil Code could not create any right in a spouse, who is not registered shareholder of the company, by operation of law, in relation to other shareholders of that company including her spouse. Accordingly, beneficial ownership held by one spouse cannot be taxed on the basis of 50% to each.
Read how CESTAT Chennai quashes excise duty demand in the case of EID Parry (India) Ltd. vs. Commissioner of GST & Central Excise. Get detailed insights here.
Read how ITAT Mumbai imposes a cost of Rs 5,000 on Edifice Properties Pvt Ltd for non-compliance with notices in their appeal against the CIT(A) order.
Discover how CESTAT Kolkata ruled in favor of Guru Shipping & Clearing Pvt Ltd, waiving penalties due to a lack of evidence for tax evasion. Full text of the order.
CESTAT Chennai sets aside excise duty demand on silk yarn, ruling that the transaction value cannot be rejected without cogent reasons. Full text of the order.
