ITAT Mumbai held that Industrial Promotion Subsidy received under Package Incentive Scheme 2007 declared by the Government of Maharashtra is capital receipt and hence not taxable.
ITAT Pune held that repairs & maintenance expenditure incurred in rented workshop and showroom is revenue expenditure and allowable as deduction under section 30(a)(i) of the Income Tax Act,1961
ITAT Chennai held that test applied by AO that land was sold to a company which was not carrying agricultural operations is not justifiable for denying exemption to sale of agricultural land u/s 2(14) of the Income Tax Act.
CESTAT Ahmedabad held that as per the development agreement it is clear that activity of the appellant is of project developer and not as real estate agent and hence service tax not leviable.
ITAT Mumbai held that Executive search fee is not ‘fee for technical services’ under Article 12(5)(a) as well as 12(5)(b) of the India Netherlands Tax Treaty.
ITAT Pune held that the amount received as compensation for pre-closure of BOT (Build, Operate, Transfer) project is capital receipt. Hence, treating the same as revenue receipt by invoking provisions of section 28(ii)(d) of the Income Tax Act is unsustainable in law.
HC held that genuine hardship faced by tax consultant which led to omission of timely filing of petitioner’s return sufficient cause for condonation of delay under section 119(2)(b)
CESTAT Delhi held that interest @6% per annum is payable u/s 35FF of the Excise Act in case the amount of pre-deposit is not refunded within three months of the date of communication of the order of the Tribunal.
ITAT Ahmedabad held that only certain percentage of alleged bogus purchases should be disallowed. Disallowance of entire alleged bogus purchase unjustified when corresponding sale of finished product has been subjected to tax.
ITAT Mumbai held that bitumen, bitumen emulsion, cut back bitumen, modified bitumen produced by the assessee certainly fall in the category of “mineral oil” for the purpose of section 80IB(a) of the Income Tax Act, 1961.
