The High Court issued an interim direction against the CIT (Exemptions) orders that rejected the condonation of significant delays in a charitable trust’s Form 10B filing. The ruling provides interim protection, ensuring the trust’s substantive exemption claim isn’t defeated by technical filing delays while the CBDT’s new restrictive guidelines are under judicial scrutiny.
The ITAT Pune set aside a best judgment assessment (u/s 144) that arbitrarily estimated an 8% net profit for a poultry farm and disallowed interest expense. The Tribunal ruled that substantive justice requires a fresh adjudication, remanding the case to the AO to allow the assessee a fair chance to present audited books and evidence.
ITAT Agra deleted additions on gifts received from real sisters, holding that when identity, genuineness, and creditworthiness are proven, Section 68 cannot apply to family gifts made out of natural affection.
The Tribunal sustained the addition due to the AO’s rejection of the books under s.145, which was warranted by the assessee’s non-submission of separate purchase/sale and MRP details for country liquor and IMFL. The ITAT found the 10 estimated GP rate reasonable, falling within the normal range for the liquor trade, and confirmed the addition.
ITAT Pune held that filing a revised return after the Department detects wrong deductions is not voluntary. Since the assessee acted only after detection, penalty u/s 270A(9) for misreporting was rightly imposed at 200% of tax.
ITAT Pune held that reopening based on old investigation data was invalid where transactions were already verified under Section 153A. The Tribunal found the penny stock gains genuine as supported by Demat, bank, and STT records.
CAAR Delhi held that Spectrum Analysers designed for 3GPP/LTE/5G NR telecom testing are specially designed for telecommunications and must be classified under Customs Tariff Item 9030 40 00. The ruling rejects departmental claims of general-purpose use and reaffirms the principle that a specific tariff entry prevails over a residuary one.
CAAR Delhi holds that the R&S® CMA180 Radio Test Set, designed for testing two-way radios and communication systems, is “specially designed for telecommunications” and must be classified under CTI 9030 40 00, rejecting the department’s claim for general-purpose classification.
Lawyer’s office constituted a professional, not commercial, activity, and use of an air-conditioned basement for such purpose did not violate Section 252 of the NDMC Act when consistent with MDP 2001 and Building Byelaws, 1983.
Rohde & Schwarz India sought an Advance Ruling on classifying the PVT 360A Performance Vector Tester under Customs Tariff Item (CTI) 9030 40 00 (specially designed for telecommunications) for nil Basic Customs Duty (BCD), instead of the residual CTI 9030 89 90 (other instruments).
