ITAT Delhi held that addition under section 69A of the Income Tax Act sustainable on failure to provide reasonable explanation of the sources and justification of heavy denomination cash gifts.
ITAT Mumbai held that addition under section 68 of the Income Tax Act on the basis of mis-reporting of insurance company is unsustainable in law.
CESTAT Delhi held that jewellery is not liable to confiscation in the absence of any evidence that it is smuggled or it has been made by converting smuggled gold.
Calcutta High Court held that by availing only 85% of credit on common input service, obligation under rule 6(2) of Cenvat Credit Rules, 2004 (CCR) is fulfilled.
ITAT Cochin held that as assessee dutifully declared interest income of deceased wife’s deposit in his return, assessee is duly eligible to get credit of his deceased wife’s TDS.
Delhi High Court held that revised return as well as chartered accountant’s certificate supports the typographical error. Accordingly, OHA directed to determine correct turnover and tax liability thereon.
ITAT Mumbai held that while computing capital gains arising of transfer of capital asset acquired by the assessee under the will, the indexed cost of acquisition has to be computed with respect to the year in which the previous owner first held the asset.
ITAT Pune remanded the matter as order of CIT(A) suffers from lack of verification of facts and applicability of legal provision in the subject matter.
Delhi High Court held that there is no requirement to file a fresh claim under DVAT 21 as the claim of refund was embedded by the assessee in its return.
ITAT Mumbai held that charges received for carrying out of re-fabrication of bushing doesn’t tantamount to ‘make available of technical knowledge, experience, skill, know-how or process’ and hence cannot be taxed under Article 12 of Indo-Singapore tax treaty.
