CESTAT Ahmedabad held that enhancement of import value merely on the basis of consent letter of the importer without following due process of law as contemplated u/s. 14 of the Customs Act read with Customs Valuation Rules, 2007 is unsustainable in law.
Delhi High Court rules that pre-deposit of 20% demand is not a precondition for considering stay application during the pendency of the first appeal. Read the detailed judgment here.
Allahabad High Court held that valid service of notice under section 148 of the Income Tax Act is a condition precedent for making reassessment under section 147. Accordingly, non-service of notice on registered email ID is unsustainable in the eyes of law.
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ITAT Mumbai rules in favor of Ecokrin Hygiene Pvt. Ltd., deleting additions under section 41(1) of the Income Tax Act solely based on the expiration of the limitation period.
ITAT Delhi ruling: Loan advanced for repayment of business operation liabilities considered allowable as business expenditure under section 37(1) of the Income Tax Act.
Assessing Officer computed a disallowance under section 14A concerning non-current investments. However, the assessee had not claimed any exempt income. Citing relevant legal precedents, the Tribunal dismissed the disallowance, affirming that section 14A was inapplicable in the absence of exempt income.
Read how Kerala HC granted interim exemption to a mother for importing medicine for her child suffering from SMA, exempting her from payment of IGST.
ITAT emphasized that the AO must decide on the objections raised by the assessee before proceeding with the assessment. Failure to do so renders the assessment bad in law.
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