The ITAT Delhi ruled that cash deposits in a bank account, which are part of business receipts already covered by presumptive tax under Section 44AD, cannot be added as unexplained cash credits.
Tribunal confirmed that donations routed as consideration for corporate liaisoning, personal expenses of promoters, and shell transactions justify cancellation of charitable registration from inception
ITAT Chennai ruled that a reassessment initiated by a Jurisdictional Assessing Officer after March 29, 2022, was invalid, making the subsequent revision order by the PCIT equally void.
ITAT Chennai quashed a reassessment notice, ruling that an Assessing Officer cannot reopen a case after four years based on a review of documents already on file without new, tangible material.
Andhra Pradesh High Court held that attachment of bank account and retention of fund by the authorities after payment of 10% of the disputed tax amount i.e. after pre-deposit u/s. 107 of the GST Act is not justifiable. Accordingly, writ petition disposed of.
CAAR in Mumbai has classified balloons made from latex rubber for festive and party decoration as toys under Customs Tariff Heading (CTH) 9503, a ruling that subjects them to a significantly higher basic customs duty (BCD) of 70% rather than the 20% applicable to decorative or rubber articles.
The CAAR Mumbai grants SubCom India exemption from Basic Customs Duty (BCD) and IGST on cable laying vessels under Notification No. 50/2017-Customs, clarifying conditions for importers and duty liability on materials used in cable-laying services.
Madras High Court held that retrospective withdrawal of purchase tax subsidy granted to sugar mill has no sanction of law. Accordingly, the assessee is entitled to the full benefit of subsidy as set out in the Government Orders issued in 1984.
The present appeal has been preferred by the appellant. Notably, sub-section (2) of section 35-G provides that the party aggrieved by an order passed by the appellate tribunal may file appeal to the High Court within a period of 180 days from the date on which the order appealed against is received by the aggrieved party.
Delhi High Court held that imposition of uniform levy of UF-10 and property tax at the rate of 20% on 3-star and above hotels is, therefore, a valid exercise of legislative discretion and withstands scrutiny under Article 14 of the Constitution.
