Delhi High Court held that valuation of unquoted equity shares held by the assessee by Discounted Cash Flow [DCF] method is permissible under rule 11UA(2) of the Income Tax Rules. Accordingly, appeal of revenue dismissed.
Delhi High Court dismisses revenue’s appeal against CESTAT’s Spicejet Ltd. order, ruling that service tax issues on CENVAT credit and excess baggage fall under Supreme Court jurisdiction.
Delhi High Court dismisses revenue’s appeal against CESTAT, ruling that cases involving service tax chargeability must be heard by the Supreme Court, not the High Court.
Kerala High Court upholds ruling that factual disputes under KVAT Act are not suitable for writ jurisdiction, directing assessee to statutory appeal while ensuring supplier clarification is verified.
Madras High Court declines to quash GST SCN for Tvl. Sri Sai Company but orders tax department to furnish unshared verification report, ensuring natural justice.
Kerala High Court rules property tax liability persists even if formal demand notices are delayed due to litigation; waives penal interest.
Madras High Court rules GST notices uploaded on the portal require physical service via RPAD if no response is received, ensuring effective communication and taxpayer opportunity.
Orissa High Court issues notice on a plea challenging the GSTAT Judicial Member selection process, questioning selective personal interactions by the Search-cum-Selection Committee.
Calcutta High Court affirms ITAT’s deletion of unexplained cash deposit addition during demonetization, citing AO’s failure to submit remand report and lack of rebuttal.
Madras High Court held that transfer order under section 127 of the Income Tax Act is legally untenable on account of various procedural lapses. Hence, the transfer order is quashed and matter is remanded bank for passing fresh orders on merits.
