Gujarat High Court held that looking at the kind of quantum of gold smuggled in India, it is impossible to accept that petitioner has no financial capacity. Accordingly, pre-deposit mandatory under section 129E of the Customs Act for further proceedings.
Delhi High Court held that as per regulation 17(1) of Customs Brokers Licensing Regulations 2018, notice for revocation of license to the customs broker is to be issued within a period of 90 days from the receipt of offence report. Order unsustainable as notice issued beyond the period of 90 days,
Bombay High Court held that AO failed to satisfy the direction given by the court while issuing notice under section 148 of the Income Tax Act. Accordingly, order for reopening of assessment and demanding penalty u/s 271(1)(c) are quashed and set aside.
ITAT Mumbai held that catalyst expenditure merely used as consumables is revenue expenditure. Accordingly, the same is allowable as deduction.
Bombay High Court held that granting of license to developer (who entered into assessees land for the purpose of development) doesnt amount to ‘allowing the possession of the land within the meaning of section 53A of the Transfer of Property Act.
CESTAT Bangalore held that penalty under section 112 of the Customs Act against steamer agent unsustainable as confiscation of the said vessel for alleged violations of chapter VI of Customs Act, 1962 as well as the duty liability arising from misuse of ‘ship stores’ and ‘bunkers’ set aside.
CESTAT Mumbai held that as revenue has not demanded any service tax on output service by denying the export status, likewise revenue cannot deny refund by treating the services provided not to be export of service.
ITAT Chennai held that donations paid by conversion of loans into donations comes under the nature of donations paid in cash and hence entitled for deduction under section 80G of the Income Tax Act.
CESTAT Kolkata granted redemption of prohibited goods as against absolute confiscation as importer was not aware about the amendment in policy and importantly policy was amended when the shipment was in process.
ITAT Mumbai held that addition on account of difference in stock as per books and valuation report merely on the basis of statement recorded during survey without credible evidence is unsustainable in law.
