ITAT Raipur held that mere non-reference by AO about the cash transaction entered into by the assesse doesn’t render the assessment order passed by AO as erroneous and prejudicial to the interest of revenue. Accordingly, revisional proceedings u/s 263 unjustified.
CESTAT Ahmedabad held that rejection of declared value in terms of rule 12 of the Customs Valuation Rules, 2007 solely on the basis of various letters of different authorities without examining contemporaneous NIDB data is unsustainable in law.
ITAT Cochin held that benefit of deduction of 7.5% of the total income is available to co-operative banks under clause (viia) of section 36(1) of the Income Tax Act.
CESTAT Ahmedabad’s verdict on customs valuation rules regarding Kumar Impex’s appeal against reassessment of imported goods’ value under Rule 12.
ITAT Hyderabad held that non-generation/ non-quoting of Document Identification Number (DIN) in the order will render the order invalid and will be treated as never to have been issued.
Gujarat High Court held that in case reopening of assessment based on material which satisfied to harbour reasons to believe that there was escapement of income, then, such reopening of assessment is justifiable.
ITAT Mumbai held that the Maharashtra State Board of Technical Education (MSBTE) would fall under the definition of state as per Article 12 of the Constitution of India.
ITAT Delhi held that assessment order passed on non-existing entity (dissolved company) is liable to be quashed as the Assessing Officer has the knowledge of the dissolution of the company.
CESTAT Mumbai held that bagasse being an agricultural waste/ residue, there could be no manufacturing activity. Accordingly, bagasse is not result of any manufacturing process
CESTAT Delhi held that value of reimbursement of expenditure is not includible in the value of taxable service and accordingly, service tax is not payable on the same.
