CESTAT Delhi rules Customs officers lack power to re-determine export FOB value. Overturns order against Jayantah Trading Co on over-valuation, penalties, and drawback. Reaffirms transaction value primacy.
ITAT Amritsar removes Rs. 4.72 lakh income addition for senior citizen, citing accumulated cash for emergencies. Overturns CIT(A) decision on bank deposit.
Supreme Court affirms Kerala’s power to tax cable TV as a luxury under Entry 62, List II, clarifying no conflict with central service tax on broadcasting.
Bangalore ITAT confirms Adarsh Developers’ right to claim ₹468 crore as business loss for advances to subsidiary, citing business expediency and prior precedents.
A legal summary of the Shanti Bhushan vs CIT case, where the court decided if heart surgery costs could be a tax-deductible business expense.
Updated forms include those for auditor appointment and resignation (ADT-1, ADT-2, ADT-3, and ADT-4), cost audit reports (CRA-2, CRA-4), general applications (GNL-1), and annual returns (MGT-7/7A).
Gujarat High Court sets aside Section 148A(d) order and Section 148 notice issued to a deceased individual, citing established legal precedents on invalidity of proceedings against a dead person.
The Gujarat High Court quashes reassessment notices issued to a deceased individual, citing Supreme Court rulings that such proceedings are void and not curable.
Mumbai land transfer tax case on development agreement, capital gains, and property possession in slum redevelopment. Judicial precedents cited.
The Income Tax Appellate Tribunal, Pune, has dismissed the Revenue’s appeal regarding low melting gains reported by a gold ornament manufacturer, affirming prior decisions.
