CESTAT Mumbai held that the discount/ commission/incentives given for sale of cars cannot be treated as compensation received by the appellant for any services provided to the car manufacturer.
ITAT Surat held that the delay in filing appeal before ld CIT(A)/ NFAC is not deliberate or intentional or gross negligence on part of assessee and hence the same is condoned.
ITAT Pune discussed the cost of acquisition of two plots allotted against compulsory acquisition of land. Matter remanded in absence of availability of figures of fair market value of two plots which is cost of acquisition in second transaction.
ITAT Delhi held that order of the ld. PCIT passed in haste without verification of factual material, as amount alleged was in Crores as against actual transactions in Lakhs, is unsustainable.
ITAT Delhi held that strategic investments not yielding any exempt income during the year under consideration, the same cannot form part of the average value of investment for computing disallowance under rule 8D(2)(iii) of the Income Tax Rules.
ITAT Chandigarh held that mere non-furnishing of copy of registration u/s 12A cannot be held as a valid and justifiable reason for denial of exemption u/s 11 of the Act where such registration continues to exist and the assessee trust duly stand registered u/s 12A for the year under consideration.
ITAT Delhi held that as per Article 8 of India–Singapore DTAA receipts from operation of ships and aircrafts in international traffic is taxable in the country of residence of the recipient. Therefore, amounts received by the assessee from operation of ships in international traffic would be exempt.
CESTAT Ahmedabad held that building constructed by the Appellant is not commercial and industrial construction, therefore does not fall under the category of taxable services, as the same is not used for commercial and industry but it is used for providing education.
CESTAT Kolkata held that receipt, utilization and duty paid nature of the input Sponge Iron was not in dispute. Hence, CENVAT credit duly available as input Sponge Iron is utilized in manufacturing of finished goods i.e. Pig Iron.
ITAT Delhi held that delayed deposit of the contribution EPF & ESIC beyond the stipulated period prescribed in the respective Acts are not allowable as deduction.