The Mumbai ITAT upheld TNMM for Firmenich Aromatics, deleting transfer pricing adjustments on exports and royalties, and allowed an 80G deduction on CSR donations.
ITAT Ahmedabad held that reopening alleging income escaped assessment merely on the basis of Client Code Modification without any other corroborative evidence cannot be sustained. Accordingly, re-assessment held invalid.
The Supreme Court of India upheld that benefits under the Budgetary Support Scheme are unit-specific, not owner-specific, reinforcing location-based industrial incentives.
Kolkata ITAT rules Assessing Officer cannot add income for bogus purchases without rejecting books of account or disputing reported sales, ensuring legal sustainability.
Ahmedabad ITAT rules cooperative society income is 100% tax-exempt if S.80P deduction is allowed, making disallowances irrelevant to final tax liability.
CESTAT Chandigarh overturns public bonded warehouse license cancellation for wine stock discrepancies, deeming it too harsh while upholding a Rs. 4 lakh penalty.
Kerala High Court grants interim relief to South Coast Spices, staying coercive tax recovery until appeals and stay petitions against assessment orders are heard.
ITAT Ahmedabad restricts Ramjibhai Kesaraji Patel’s bogus purchase disallowance to 8%, citing judicial precedents and natural justice, after the CIT(A) dismissed the appeal for delay.
Madras High Court sets aside GST penalty on Laxmi Rolling for violating natural justice, mandating a fresh hearing opportunity for the taxpayer.
Delhi High Court sends Bray Controls’ nil withholding tax request back to CIT, emphasizing focus on share valuation for capital gains, not past acquisition.
