Chhattisgarh High Court held that reasonable cause has been shown for non-compliance with the provisions contained in Section 269T of the Act and further it is not disputed that the transaction is genuine and bona fide.
Delhi High Court held that addition towards unexplained credits against companies used as a conduit for routing accommodation entries is not justified since they are not ultimate beneficiaries. Accordingly, appeal of revenue dismissed.
Delhi High Court held that reassessment under section 148 of the Income Tax Act cannot be sustained since there is no tangible material for forming a belief that petitioners had a dependent Permanent Establishment or Fixed Place PE in India
The Madhya Pradesh High Court ruled that physical verification of business premises for GST purposes must occur in the presence of the concerned person and requires proper witness documentation.
In Malabar Industrial Co. Ltd. Vs. Commissioner of Income Tax, Kerala State reported in (2000) 243 ITR 83 Hon’ble apex court have held that The phrase “prejudicial to the interests of the Revenue” has to be read in conjunction with an erroneous order passed.
Petitioner engaged in manufacturing of Viscose Filament Yarn and allied chemicals and transferred the same to various depots/godowns /warehouses in different states upon payment of GST.
Gujarat High Court held that issuance of notice u/s. 148A(b) of the Income Tax Act in the name of deceased person is not sustainable since petitioner already registered legal heir. Thus, notice and order thereof quashed and set aside.
Gujarat High Court held that reassessment under section 148 of the Income Tax Act is liable to be quashed in as much as all the necessary information were supplied by the assessee and there was no failure to disclose any material fact. Accordingly, reopening quashed.
Bombay High Court held that since issue already examined during the course of assessment proceedings, re-opening of assessment on same issue amounts to change of opinion. Thus, re-opening based on change of opinion is not sustainable.
Gujarat High Court held that reassessment order passed under section 148 of the Income Tax Act is liable to be quashed and set aside due to non-consideration of the reply in the assessment order. Accordingly, order set aside and matter remanded back to AO.
