ITAT Delhi clarifies tax treatment for Motricity India: No levy on notional income or closure costs. Insights on Transfer Pricing adjustments and ALP determination.
Supreme Court rules in favor of a bona fide auction-purchaser under the SARFAESI Act, emphasizing due diligence and addressing ownership disputes in loan recovery cases.
CESTAT Kolkata rules Vedanta Ltd. entitled to 12% interest for 15-year delay in export duty refund due to delayed finalization of shipping bills by Paradeep Customs.
Reliance was placed on Sree Manoj International Vs. Deputy State Tax Officer in W.P.No.10977 of 2024 where this court has remanded the matter back in similar circumstances subject to payment of 10% of the disputed taxes.
Matter relates to refund of duty paid consequent to re-classification of the aircraft parts imported. Commissioner’s (Appeals) rejected the appeals by holding that appellant did not deposit 7.5% of the duty or penalty disputed as per section 129 E of the customs act.
Reliance was placed on decision of the Hon’ble Delhi High Court in the case of CIT vs. Ritu Anurag Agarwal reported in ITA No. 325/2008 and it was argued that no addition u/s 68 could be made on account of trade creditors when the books of accounts have not been rejected.
Assessee was a illiterate farmer. Assessment was completed by making an addition of Rs. 1,55,00,000/- u/s 69 on account of purchase of immovable property. Assessment order as well as CIT (A) order, dismissing the appeal, were passed ex-parte.
Madras HC directs adherence to Section 169 of the Tamil Nadu GST Act, 2017 for valid service of notices, ensuring compliance with natural justice principles.
Delhi HC directs the tax department to return seized documents within 30 days and provide copies of data from seized devices as per Section 67 of CGST Act.
Once the lubricant became a taxable item at the hands of the manufacturer and importer, it became non-VATable good for the trader, therefore, ITC in relation to lubricants was required to be reversed.
