ITAT Jaipur held that invocation of revisionary proceedings u/s. 263 of the Income Tax Act not sustainable since AO duly verified investment and payment of ESI/PF.
ITAT Chennai restored the matter back to the file of AO since CIT(A) failed to consider the additional evidence which was sought by AO. Accordingly, matter restored back to the files of AO for fresh adjudication.
ITAT Jaipur held that since there is neither error of law nor of facts, the twin condition as required to revise the assessment order is not met out and hence invocation of revisionary power under section 263 of the Income Tax Act is not sustainable in law.
Supreme Court held that the penalties imposed by the National Consumer Disputes Redressal Commission [NCDRC] are regulatory in nature and do not constitute “debt” under the IBC. Thus, penalty imposed by NCDRC needs to be complied with.
ITAT Bangalore held that penalty order under section 272A(2)(e) of the Income Tax Act has to be passed within reasonable time. Since, the penalty order is not passed within reasonable time, the same is liable to be quashed.
ITAT Jaipur held that once the jewellery and silver articles are considered as belonging to the family as a whole, there does not remain any unexplained gold jewellery. Hence, addition towards unexplained gold jewellery is liable to be deleted.
Delhi High Court disposed of writ petitions as domestic industry no longer presses for imposition of Anti-Dumping Duty [ADD]. Thus, writ petitions are disposed of as having been rendered infructuous.
Supreme Court held that when a cell phone is sold along with a charger there is only one Maximum Retail Price and hence charger cannot be taxed separately under Uttar Pradesh Value Added Tax Act, 2007 [UP VAT Act].
The assessee acts as a corporate agent for Max Life Insurance Company in respect of marketing it’s insurance policies. The assessee charges commission from Max Life in lieu of rendering such services.
Karnataka High Court held that interest under section 201 of the Income Tax Act and late filing fee under section 234E leviable for non-deduction of TDS from sale consideration paid to Bengaluru Development Authority [BDA] for allotment of made by BDA.
