ITAT Delhi held that there is no doubt about the genuineness of the expenditure of business promotion expenses and Diwali expenses and there is also no finding that such expenses are incurred for the personal purpose/ extraneous nature of expenses.
ITAT Bangalore held that the expenditure on account of ESOP is a revenue expenditure and had to be allowed as deduction while computing income.
ITAT Hyderabad held that for comparability of company with that of the assessee, in case of international transactions, the criteria of functionally comparability needs to be considered.
Chhattisgarh High Court held that impugned order is not sustainable as Show Cause Notice under Section 49 (3) is not stated to be issued nor placed on record by learned counsel for the State.
Bombay High Court held that sub-leasing of containers by original lessee to another lessee wherein, possession and control is transferred, the same amount to deemed sale within the meaning of Article 336(29A)(d) of the Constitution of India and hence service tax not leviable.
Kerala High Court held that statutory provision with regard to punishment provided for commission of offence u/s 138 of Negotiable Instrument Act, 1881 is clear that the maximum fine shall be twice the amount of the cheque and nothing more
ITAT Kolkata held that the claim the depreciation on goodwill which has resulted from the scheme of amalgamation which was duly approved by the Hon’ble Calcutta High Court cannot be rejected.
ITAT Mumbai held that exemption u/s 10AA of the Income Tax Act available in case imported goods are re-exported by a unit duly approved by development commissioner of concerned SEZ.
ITAT Bangalore held that provision for long term service award is made on actuarial valuation and amount provided for in the books of accounts based on actuarial valuation cannot be said to be contingent.
ITAT Pune rejected the petition for condonation of delay in filing an appeal as it was found that the appeal was casual, non-serious and non-vigilant in preferring appeal against the impugned orders.
