ITAT Delhi held that addition merely on the basis of statement recorded u/s 133A of the Income Tax Act without considering the documents and evidences is unjustified. Accordingly, matter remanded back for fresh consideration.
ITAT Delhi held that disallowance u/s 40(a)(ia) of the Income Tax Act unjustified as there was due compliance with provisions of section 194C(6). Violation of provisions of section 194C(7) doesnot attract disallowance u/s 40(a)(ia) of Income Tax Act.
It is a well settled law that, reasons for formation of belief must have rational connection with or relevant bearing on formation of belief.
Shanthi R. Pai Vs ITO (ITAT Bangalore) AO made addition of Rs.26,79,000/- on account of cash deposits. Assesee stated that she is a home maker & her husband was employed overseas as Chartered Accountant serving overseas from 1975 to 2008. He used to send money from abroad and also invested in Term Deposits in India […]
Modi Car Agencies Pvt. Ltd. Vs State of Maharashtra (Bombay High Court) Bombay High Court sets aside 69 Assessment Orders under MVAT Act, 2002 levying MVAT on registration charges, handling charges, insurance charges and incentives collected from customers with a direction to Assessing Officer to reconsider the issue on the basis of the decision of […]
SAP Labs India Private Vs ITO (Supreme Court of India) Whether in every case where the Tribunal determines the arm’s length price, the same shall attain finality and the High Court is precluded from considering the determination of the arm’s length price determined by the Tribunal, in exercise of powers under Section 260A of the […]
ITO (TDS) Vs Hadpawat Enterprises (P) Ltd. (ITAT Jodhpur) From a plain reading of second proviso to Section 272A(2) which is inserted by the Finance Act, 2012 w.e.f. 01-07-2012, it is clear that penalty under clause (k) of Section 272(A)(2) cannot be levied on or after the 1st Day of July, 2012. In the instant […]
CESTAT Delhi held that as domestic industry doesn’t manufacture/produce colour coated coil, anti-dumping duty cannot be imposed on the same.
In re Eden Real Estates Private Limited (AAAR GST West Bengal) Whether the services provided by the applicant for right to use of car parking would be treated as a composite supply when the services is supplied along with sale of under constructed apartments and whether such supply shall be treated as Non-GST supply if […]
Issuance of notice & initiation of re-assessment proceeding beyond six years is barred by limitation under Section 147 of Income Tax Act
