ITAT Ahmedabad held that invocation of proceedings u/s 153C of the Income Tax Act unsustainable as AO has not put on record that material seized during the course of third party search belongs to the assessee.
Held that the notice issued after the cheque was returned back as dishonoured, was no notice as contemplated under the provisions of Negotiable Instruments Act, as no demand of money was made therein.
ITAT Delhi held that if in the initial year of claim the depreciation, is allowed, the claim cannot be disturbed in the subsequent years.
Supreme Court held that Duty Free Shops, whether in the arrival or departure terminals, being outside the customs frontiers of India, cannot be saddled with any indirect tax burden and any such levy would be unconstitutional. Accordingly, tax levied on the same is refundable
ITAT Jodhpur held that addition on the basis of reasons not forming limited scrutiny is unsustainable as Assessing Authority cannot exceed the jurisdiction beyond the reasons specified for limited scrutiny.
ITAT Ahmedabad held that payment of interest towards compromise agreement was not made towards any infraction of law and therefore, the same is allowable under section 37 of the Income Tax Act.
ITAT Ahmedabad held that disallowance of sales commission expenses justified as there was no basis and reason for paying the commission to these agents who even otherwise were closely related to the assesse.
ITAT Jaipur held that once the penalty is levied for non-maintenance of book of accounts, there cannot be further default for not getting the same audited as required u/s 44AB of the Act.
ITAT Delhi held that the interest awarded under Land Acquisition Act is not taxable, accordingly, tax on the same cannot be demanded by way of invoking jurisdiction u/s 263 of the Income Tax Act.
ITAT Ahmedabad held that book profit under section 115JB of the Income Tax Act cannot be computed by including disallowances made under section 14A of the Income Tax Act.
