Sharda Lunkar Vs Union of India (Guwahati High Court) Guwahati High Court held that order passed under section 147 of the Income Tax Act is an appealable order and accordingly the alternative remedy available by approaching the appellate authority should be availed. Facts- Petitioner has filed the writ petition against the notice issued under section […]
Punjab & Haryana High Court held that penalty under section 51(7)(c) of the Punjab VAT Act, 2005 not imposable in absence of attempt to evade tax.
ITAT Delhi held that disallow of any interest expenditure u/s 14A r.w. Rule 8D of the Act unsustainable as the interest bearing funds borrowed by the assessee have not been utilized for making the investments.
ITAT Raipur held that delay of 1563 days cannot be simply condoned on the basis of the unsubstantiated claim of the assessee. As assessee failed to come forth with any good and sufficient reason that would justify condonation of the substantial delay, appeals dismissed as barred by limitation.
CESTAT Delhi held that imported goods are liable to confiscation under section 111 of the Customs Act as restricted goods are imported in violation of the provisions of ITC(HS) Import Policy and the goods were not correctly valued.
ITAT Mumbai held that addition in respect of commission income earned on different transactions for loans and advances for share application money for purchase and sales, etc. sustainable as it is proved that assessee is into the business of providing accommodation entries.
ITAT Kolkata held that interest payment on delayed deposit of Income Tax (whether in form of TDS or otherwise) is not an allowable expenditure.
ITAT Bangalore held that assessment order issued manually without containing Document Identification Number (DIN) as per CBDT Circular No. 19/2019 dated 14.08.2019 is invalid and deemed to have never been issued.
ITAT Chennai held that amount of Rs. 14 Lakhs received in cash for sale of immovable property is against the provisions of section 269SS of the Income Tax Act. Accordingly penalty under section 271D imposable.
Bombay High Court held that Circular No.5-2012 dated 1 August 2012 will not be applicable to the instant case pertaining to AY 2008-09. Law to be applied is the one that is in force in the relevant assessment year unless otherwise provided expressly or by necessary implication. Accordingly addition unsustainable.
