ITAT Raipur held that A.O after rejecting the books of accounts of the assessee could not have based his assessment on the said books of accounts. Accordingly, once the books of account of an assessee are rejected, then profit has to be estimated.
CESTAT Chennai held that imposition of penalty unsustainable as non-payment of service tax on renting of immovable property service was on account of confusions and litigations.
Delhi High Court held that notice u/s 148 and order thereon issued and passed against a non-extant entity cannot be complied with and hence liable to be set aside.
ITAT Bangalore held that foreign travel expenses incurred for obtaining donations which are utilized for charitable purpose is allowed as expenditure.
CESTAT Mumbai held that customs exemption in terms of notification no. 52/2003-Cus dated 31st March 2003 is duly available to ‘polyethylene (PET) granules’ under input category as used during manufacture of ‘moulds’.
CESTAT Chennai held that benefit of exemption in terms of section 5A vide notification no. 10/1997-CE dated 1.03.1997 duly extended to EOU.
CESTAT Chennai held that adopting the values as fixed by the Valuation Committee without revealing the methodology and basis adopted for such values is not correct and is not in accordance with the Valuation Rules.
CESTAT Chennai held that CENVAT Credit towards service tax paid on meal coupons and group insurance for employees is duly available as input service.
ITAT Mumbai held that deduction of unamortized brokerage expenses claimed through revised return of income is duly allowable.
ITAT Mumbai held that disallowance of interest expenditure paid u/s. 201(1A) of the Income Tax Act on late payment of TDS is penal in nature and not compensatory.
