ITAT Mumbai held that as there was no malafide or deliberate in action on the part of the assessee in filing the appeal with delay of 387 days before the Ld. CIT(A). Accordingly, it was directed to CIT(A) to condone the delay.
ITAT Delhi held that in absence of a Permanent Establishment, provisions of section 44BB of the Income Tax Act has no application.
ITAT Delhi held that post amendment by Finance Act, 2012 which is effective from 1st April 2013, the exemption u/s 54B of the Income Tax Act is also available to HUF.
ITAT Mumbai held that FCCB i.e. Foreign Currency Convertible Bond expenses included as part of FCCB premium expenses is allowable.
Delhi High Court held that the award can be regarded as enforceable only if it is actually executable. Accordingly, the Final Partial Award passed by the Arbitral Tribunal is unenforceable award.
Punjab and Haryana High Court dismissed the petition for grant of anticipatory bail in the case of fictitious firm/ company registration under GST as an offence is prima facie established against the petitioner.
Uttarakhand High Court held that as per notification dated 02.08.2019, Tax Audit Reports are mandatorily required to have Unique Document Identification Number (UDIN). In absence, of the same, rejection of petitioner’s technical bids completely justified.
ITAT Kolkata held that AO failed to make required enquiries to go into the question of valuation of shares given by the accountant for the purpose of assessment of income as per provisions of section 56(2)(viib). Accordingly, revisionary power under section 263 rightly invoked.
Supreme Court held that the credit note issued by a manufacturer to the dealer, relating to the replacement of defective parts, is a valuable consideration and hence, leviable to sales tax.
NCLAT Chennai held that condonation in filing of claim under Form-C based on bald explanation without sufficient cause for the delay is not allowable.
