Bombay HC directed tax department to issue Form GST PMT-03 after denying a refund, ensuring taxpayer’s Electronic Credit Ledger is re-credited within 15 days. Court left the issue of interest open for departmental consideration.
The Tribunal rejected the Revenue’s appeal against deletion of a ₹63.84 lakh addition under Section 68, observing that the assessee had already declared the same transactions as sales in audited accounts. Citing CIT v. Vishal Exports Overseas Ltd., it held that taxing such income again would lead to double taxation. The order reinforces that genuine recorded transactions cannot be recharacterized as unexplained cash credits.
Delhi HC set aside Section 148A order against Michael and Susan Dell Foundation, ruling the AO failed to consider the detailed submission, violating natural justice principles.
ITAT Pune held that interest credited on fixed deposits in assessee’s name remains taxable, even if underlying development agreement was later cancelled, as assessee retained ownership of account and TDS was deducted under her PAN.
ITAT Ahmedabad deleted the penalty under Section 270A(9) for an excess claim of deduction under Section 54F, ruling it was a computation error, not misreporting. The Tribunal held that since the assessee had fully disclosed all facts and the error didn’t involve fraud or suppression, the penalty couldn’t be sustained under the specific clauses of misreporting.
ITAT clarified that transfer of case between officers in the same city does not require a new notice or hearing, reinforcing that procedural continuity under Section 127(4) ensures jurisdictional validity.
ITAT Indore held that land located beyond 8 km from nearest municipality does not qualify as a capital asset under Section 2(14)(iii), exempting gains from capital gains tax.
ITAT Ahmedabad partly allowed the Revenue’s appeal, fully upholding the addition for salary kickbacks based on overwhelming seized evidence showing a routine, systematic practice. The Tribunal confirmed that this consistent pattern justified extrapolation for the full year.
Rejecting assessee’s plea of invalid reopening, Tribunal ruled that minor clerical mistakes in reasons recorded under Section 147 do not vitiate proceedings if substantive material exists. Information disseminated through Insight Portal was sufficient to establish AO’s belief.
ejecting the Revenue’s approach, the Tribunal held that mere quantum of advertisement or marketing expenses cannot trigger transfer pricing adjustment without demonstrating a direct nexus with a foreign AE.
