ITAT Ahmedabad held that addition towards unexplained cash credit under section 68 of the Income Tax Act unwarranted as the amount represents sales already declared and taxed. Thus, income already offered for taxation cannot be taxed again as unexplained cash credit.
Delhi High Court held that mechanical approval granted by PCIT, vide general order of approval for all the 111 cases without satisfactorily record, for action under section 147/148 of the Income Tax Act is not valid.
Calcutta High Court held that writ petition insisting deferring the GST recovery proceedings without challenging the appellate order is not maintainable. Accordingly, writ dismissed.
Held that any step of reduction in the pay scale and recovery from a Government employee would tantamount to a punitive action because the same has drastic civil as well as evil consequences.
In lieu of the appellant discontinuing the commodity brokerage business, BNP Paribas offered compensation of Rs.40 crores. Pursuant thereto, in a meeting held on 23.05.2008, resolution was passed by the Board of Directors of the appellant accepting the said offer.
Madras High Court held that the imposition of penalty for the minor discrepancy in the variance in the address in the Tax Invoices and the E-Way Bill would not justify the penalty under Section 129(5) of CGST Act.
Delhi High Court held that addition of value of shares granted under the Employees Stock Purchase Scheme as perquisite in terms of section 17(2)(iiia) of the Income Tax Act unsustainable in law.
Delhi High Court held that that no notice under section 148 of the Income Tax Act shall be issued if four years “but not more than six years” have elapsed from the end of the relevant assessment year.
CESTAT Kolkata held that activity of laying down the pipelines for Government/ Government Undertaking for supply of water from Kerala Water Authority (KWA) in Thiruvananthapuram city doesn’t attract service tax. Accordingly, refund claim allowed.
Allahabad High Court held Deputy Commissioner of Income Tax guilty under section 12 of the Contempt of Courts Act, 1971 and imposed fine of Rs. 25,000 along with simple imprisonment for a period of one week.
