ITAT Bangalore held that cash deposited on account of cash sales during demonetization period cannot be added as unexplained under section 68 of the Income Tax Act as AO didn’t rejected the books of accounts nor brough anything contrary on records to show that cash sales is not the source for cash deposit.
Supreme Court granted bail in clandestine manufacture and supply of chewing tobacco without payment of leviable duties and tax as the petitioner has already undergone incarceration for more than four months. Further, there are no apprehension of tampering, intimidating or influencing.
ITAT Mumbai held that payment towards buy-back of shares to an NRI doesn’t attract deduction of tax under section 195 as according to Indo-Singapore DTAA jurisdiction for taxing the capital gains arising in the hands of an NRI is in Singapore and not in India
Chhattisgarh High Court held that lease charges paid by the Railways Department to the Petitioner Company is not subjected to levy of VAT as the taxable event is the transfer of right to use goods and not right to use goods or the use of goods
ITAT Delhi held that the amount received by the assessee from freight/logistic support services cannot be treated as FTS/FIS either under section 9(1)(vii) of the Income Tax Act or under tax treaty provisions and hence the same is not taxable in India.
DCIT Vs K. Dhandapani and Co. Ltd. (ITAT Chennai) ITAT Chennai held that assessee rightly proved that the land sold is agricultural land and agricultural activity was carried out on the same. Hence, the agricultural land is not assessable to capital gains. Facts- The only issue in this appeal of Revenue is as regards to […]
Patna High Court held that the order, ex parte in nature, passed in violation of the principles of natural justice, is liable to be quashed and set aside.
ITAT Bangalore held that HUF was disrupted / partitioned as on the date of assessment order and hence the assessment order in the status of HUF is invalid.
CESTAT Mumbai held that rejection of refund claim under Rule 5 of Cenvat Credit Rules, 2004 solely on the basis of the ground that there is no nexus between the input service and the output service exported is untenable in law.
ITAT Bangalore held that the deposit of gold jewellery by family members of a partner in the partnership firm would be treated as the stock in trade of the firm as agreement between the firm and the partners provides that the jewellery given by the partner can be used by the firm and sold by the firm.
