The ITAT Ahmedabad set aside a reassessment order for Dalpat Baraiya, ruling that approval from the wrong authority invalidated the entire proceeding.
In DCIT vs. Motilal Oswal Securities Ltd., the ITAT Mumbai dismissed the revenue’s appeals, confirming that employee stock option (ESOP) costs and corporate social responsibility (CSR) donations can be claimed as deductions.
Supreme Court dismissed a petition, condemning defendant for repeatedly seeking adjournments to delay a 2013 eviction suit. SC affirmed closure of cross-examination.
The Sikkim High Court ruled in favor of Torrent Pharmaceuticals, setting aside an order to recover a Rs. 12 crore refund based on a binding judicial precedent.
Kerala High Court held that no taxable event under the provisions of the Kerala Value Added Tax Act [KVAT Act] had occurred in respect of displaying advertisement on hoardings as there was no transfer of right to use the hoardings. Accordingly, writ disposed of.
Delhi High Court rules in favor of Central Plastics Pvt. Ltd., stating that taxpayers are not required to prove the “source of source” for share capital received before the 2012 amendment to Section 68.
The ITAT Mumbai ruled that the 60% tax rate under Section 115BBE applies to unexplained cash deposits for AY 2017-18, setting aside a lower rate.
The Karnataka High Court quashed a CBDT order rejecting an application from Anantharaja Charitable Trust, advocating a liberal approach to condoning delays.
ITAT Mumbai quashes addition for unexplained investments on land purchases in Hirji Parbat Gada vs ITO, remanding the issue to the AO to consider the DVO report.
CESTAT Chennai held that affixation of MRP on packages of imported goods containing quantity of more than 25 Kgs is not mandatory. Hence, differential duty demand for non-affixation of MRP cannot be sustained.
