ITAT Chennai held that failure to issue notice u/s. 143(2) of the Income Tax Act after issuing notice u/s. 147 and prior to finalizing the re-assessment vitiated the entire proceedings. Accordingly, order quashed.
Delhi High Court held that reinitiating of reassessment action u/s. 148 of the Income Tax Act on the same set of reasons on which assessment proceedings had already been concluded is unjustified and hence liable to be set aside.
ITAT Mumbai held that deduction under section 80P(2)(d) of the Income Tax Act admissible in respect of the interest on FDR and savings account earned by co-operating housing society from investment with the Co-operative Banks.
Madras High Court held that work contracts undertaken prior to 11.05.2002 cannot be brought under the purview of the tax net under the Central Sales Tax Act, 1956. Accordingly, order set aside.
CESTAT Bangalore held that benefit of notification no. 20/2006 dated 01.03.2006 and notification no. 21/2012-Cus. dated 17.03.2012 not available in case of import of garment accessories. Accordingly, 4% SAD leviable.
Madras High Court held that addition towards difference between purchase value and guideline value without awaiting report of valuation officer, as matter was referred to valuation officer, is clearly unsustainable.
Supreme Court held that employee has withdrawn his resignation before its acceptance by employer as there are clear indications that there was no finality to the letter of resignation.
Delhi High Court held that deduction of tax by Land Acquisition Collector is duly, however, the same was not reflected in Form 26AS. Thus, petitioner cannot be penalized for mere reason that Form 26AS suffered from a discrepancy.
Andhra Pradesh High Court held that claim not part of resolution plan stand extinguished on the date of approval of resolution plan and no person will be entitled to initiate or continue any proceedings in respect to a claim, which is not part of the resolution plan.
Madras High Court held that matter rightly transferred from jurisdiction of registered office to place of business as search was conducted based on place of business and incriminating material were seized based on place of business.
