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.
ITAT Chennai held that profit or loss derived from sale of land held as stock-in-trade is assessable under the head income from business or profession and not under capital gains.
ITAT Delhi held that social security contribution doesnt constitute income from salary in the hands of expatriate employees. Hence disallowance u/s 40(ia) for non-deduction of TDS on the same is unsustainable in law.
ITAT Pune held that interest paid on customs duty is allowable as deduction under section 43B of the Income Tax Act 1961.
CESTAT Ahmedabad held that duty was paid on the clearance value on which demand was raised. Accordingly as duty was paid demand under rule 6(3)(i) of Cenvat Credit Rules 2004 unsustainable.
ITAT Ahmedabad held that addition towards unexplained cash unsustainable as cash expenses duly incorporated in books of accounts and cash book as well as cash receipts not doubted by the authority.
Bombay High Court held that issue of reopening of assessment has to be tested only on the basis of the reasons recorded, which reasons can neither be improved upon nor substituted by an affidavit or oral submissions.
Delhi High Court held that failure on the part of Objection Hearing Authority (OHA) to pass an order doesn’t automatically result in allowing refund u/s. 42(1) of the Delhi Value Added Tax Act, 2004.
Delhi High Court held that non-scheduled (passenger services) as defined under clause (b) of explanation to Condition no. 104 of notification no. 21/2022-CUS as amended by notification no. 61/2007-CUS doesn-t include providing air transport services to public at large on payment of published tariff.
Patna High Court held that the Reimbursement of Seignorage Charge and Labour Cess on construction and maintenance of Akauna Path to Yogapur Path work done under NABARD should be challenged before the appropriate forum.
