Kerala High Court held that addition to the capital account of the partner duly sustainable in law on account of failure of the assessee to furnish supporting evidence.
Delhi High Court held that there was no default in payment of advance as seized cash was offered by the assessee to be treated as advance tax.
ITAT Bangalore held that initiation of proceedings against the person other than the searched person under section 148, instead of section 153C, of the Income Tax Act is without any jurisdiction and hence held liable to be set aside.
Madras High Court held that as GST registration sought from retrospective date, the input tax credit ought to have provided. Accordingly, impugned order directing to forego Input Tax Credit is unreasonable and cannot be sustained.
Supreme Court of India rejected the bail application as applicant failed to prove him not guilty of the alleged economic offences wherein crores of proceeds of crime were transferred to the shell companies without any genuine business transaction.
CESTAT Kolkata held that Commissioner (A) inadvertently dismissed the appeal treating it as time barred as the adjudication order dated 23.07.2018 was communicated to the appellant on 05.08.2018. Accordingly, matter remanded back to Commissioner (A) for deciding the issue on merits.
ITAT Bangalore held that no computation of fee u/s. 234E of the Act for delayed filing of return of TDS while processing a return of TDS u/s. 234E of the Act could have been made for tax deducted at source for the assessment years prior to 1.6.2015.
Supreme Court held that profits earned on account of foreign exchange fluctuation cannot be included/ treated as derived from the business of export income. Accordingly, deduction under section 80HHC of the Income Tax Act not available.
Delhi High Court held that interest on delayed refunds as per section 56 of the Delhi Goods and Services Tax Act, 2017 is payable when refund remains unpaid even after sixty days from the date of application for refund.
ITAT Mumbai held that the finance costs having direct nexus with the business should be allowed as a deduction under section 36(1)(iii) of the Income Tax Act.
