Delhi High Court held that imposition of penalty under section 271DA of the Income Tax Act is justifiable since there is no inordinately and inexplicably delay in initiation of penalty proceedings. Accordingly, writ dismissed.
Delhi High Court held that reassessment order is liable to be set aside as it was based on information that was fully examined in the earlier round of reassessment u/s. 147 r.w.s. 144B of the Income Tax Act. Accordingly, appeal allowed and order set aside.
CCI dismissed allegations of anti-competitive practices in tender for an Olympic-standard pool in Maharashtra. Case highlights tender specifications and fair competition.
Delhi HC confirms Section 40A(3) inapplicable to property investments, affirming ITAT’s ruling in PCIT Vs Sanskar Homes Pvt. Ltd. Appeal dismissed.
ITAT Ahmedabad held that penalty u/s.271AA of the Income Tax Act cannot be levied without specifying the required documents failed to be maintained/furnished by the assessee. Thus, appeal of the revenue dismissed.
ITAT Jaipur held that invocation of revisionary proceedings u/s. 263 of the Income Tax Act not sustainable since AO duly verified investment and payment of ESI/PF.
ITAT Chennai restored the matter back to the file of AO since CIT(A) failed to consider the additional evidence which was sought by AO. Accordingly, matter restored back to the files of AO for fresh adjudication.
ITAT Jaipur held that since there is neither error of law nor of facts, the twin condition as required to revise the assessment order is not met out and hence invocation of revisionary power under section 263 of the Income Tax Act is not sustainable in law.
ITAT Kolkata ruled that filing Form 67 for Foreign Tax Credit (FTC) under DTAA is procedural, not mandatory. Read key takeaways from Timirbaran Mazumder vs. DCIT.
Kerala High Court addresses GST notice challenge in Minimol Sabu case. Court directs adjudicating authority to consider preliminary objections.
