ITAT Rajkot held that addition towards unexplained cash deposit under section 69A of the Income Tax Act not sustained since assessee has adequate evidence supporting its claim of cash deposits. Accordingly, appeal allowed.
Gujarat High Court held that in the absence of new material facts brought on record by the Revenue reopening of assessment beyond the period of 4 years is found to be not sustainable in the eye of law. Thus, appeal of revenue dismissed.
Madras High Court held that order passed without considering documentary evidences furnished by the petitioner suffers from non-application of mind to material on record. Hence, order set aside with direction to department to re-examine issue.
Madras High Court remanded the matter as notice in DRC-01A was merely uploaded in GST portal and hence petitioner was unaware about initiated proceedings. Further, petitioner directed to deposit 25% of disputed taxes.
ITAT Mumbai held that the receipt from parking facilities is to be treated as business income instead of income from other sources since the same was already accepted as business income in earlier assessment years.
ITAT Jaipur held that the assessee has sufficient amount of interest free fund to make investment yielding exempt income, therefore, disallowance under section 14A of the Income Tax Act not justified. Accordingly, appeal of assessee allowed.
ITAT Mumbai held that as per section 36(1)(va) delayed payment of PF & ESIC has to be treated as income of the assessee. Hence, alternate claim of deduction of the same u/s. 37(1) of the Act is not acceptable.
ITAT Chennai held that PCIT cannot term order passed by AO as erroneous and prejudicial to the interest of revenue merely for non-production of Form 3CL for claiming weighted deduction under section 35(2AB) of the Income Tax Act.
Madras High Court held that works contract services pertaining to railways is covered by Notification 11 of 2017 CGST (RATE) dated 28.06.2017 as amended vide Notification No. 20/2017 dated 22.08.2017, Notification No.8 of 2017 Integrated Tax (Rate) dated 28.06.2017 and hence concessional tax rate of 12% applicable instead of 18%.
Bombay High Court held that once search action u/s. 132 of the Income Tax Act is the foundation of the case, assessment could be initiated only under section 153A/ 153C. Thus, initiation of reassessment proceedings u/s. 147 is liable to be quashed.
