Madras HC quashes reassessment notices due to lack of new material. Court rules that profit and loss accounts don’t qualify as books of account under Income tax laws.
ITAT Pune allows Mahanagar Constructions’ appeal, ruling that notional rental income from unsold flats held as stock in trade cannot be taxed as ‘Income from House Property’ for AY 2014-15, citing judicial precedents.
ITAT Mumbai allows Section 54F deduction for Anant R Gawande, clarifying joint ownership and property acquisition for capital gains exemption.
Gujarat High Court rules refunds under Vivad Se Vishwas Act are entitled to Section 244A interest for delayed payment, citing Supreme Court precedent.
CESTAT Delhi rules on missing fabric rolls after customs seizure. Taxpayer liable for redemption fine on goods lost from custody, overturning prior decision.
The Madras High Court dismissed a writ petition, upholding a CESTAT order that a complainant lacked locus standi to appeal a customs ruling not directly affecting them.
ITAT Mumbai quashes reassessment against Sky Scraper Properties, ruling no addition was made based on the initial reason for reopening, citing Bombay HC precedent.
Supreme Court stays Karnataka’s Rs. 317.5 crore VAT recovery notice to Antrix Corporation. New demand for 2008-2014 issued despite existing stay on previous period. Case listed for August.
Madras High Court sends Inox Air Products’ GST classification case back to AAAR, citing insufficient reasoning on whether plant is movable or immovable property.
Orissa High Court sets aside NFAC assessment order for Ramshankar Mahapatra, ruling inadequate 4-day notice violated natural justice and 7-day SOP.
