Held that merely because of non-participation of the assessment proceedings, the valuable right of the petitioner would not be deprived of to prosecute a case under Section 264. Accordingly, orders passed u/s. 264 alongwith assessment orders u/s. 143 & 147 remanded back for fresh consideration.
The Tribunal therefore, has rightly affirmed the conclusion arrived at by CIT(Appeals) in deleting the tax demand relatable to difference between 20% and the actual tax rate on which tax was deducted by the respondent assessee in terms of the relevant DTAAS.
Gauhati High Court held that the benefit conferred under Section 6(2) of the Central Sales Tax Act, 1956 [CST Act] cannot be denied merely because the ‘C’ forms were not furnished. Accordingly, writ petition stands allowed.
ITAT Delhi held that addition under section 68 of the Income Tax Act cannot be sustained as assessee has proved the source of funds for purchase of land made in earlier assessment year. Accordingly, appeal allowed.
Kerala High Court held that import of decalcified fish scale is eligible for the benefit of advance authorization scheme. Thus, benefit of advance authorization cannot be denied by the department.
Gauhati High Court held that order cancelling GST registration without providing reasons for cancellation of the same is a non-speaking order. Accordingly, order is liable to be set aside and quashed.
ITAT Mumbai held that short-term capital loss [STCL] on which STT is paid [which is taxable at 15% u/s. 111A of the Income Tax Act] can be set off against short-term capital gains [STCG] on which STT is not paid [which is taxable at 30% u/s. 115AD].
CESTAT Chennai held that imposition of penalty under Regulation 18 of the Customs Broker Licensing Regulations, 2013 [CBLR] justified as Customs Broker failed to intimate department about mis-declaration of weight in imported goods. Accordingly, appeal dismissed.
Karnataka High Court held that absence of three persons straightaway rule out the agreement from the scope of intermediary services. Thus, refund granted as independent services provided qualifies as export of services u/s. 2(6) of IGST Act.
ITAT Mumbai held that dividend paid to International Finance Corporation is exempt from Dividend Distribution Tax chargeable under section 115-O of the Income Tax Act. Accordingly, appeals of assessee allowed.
