Bombay High Court held the reopening of assessment initiated on the basis of subsequent information justified as based on such information transaction was prima facie found to be undisclosed funds routed through various tax havens companies.
Court modifies order, prevents entry tax recovery from IMFL manufacturer for April-May 2005 based on a state circular.
Supreme Court held that re-classifying products based on the test report, which was leading to consequential differential duty demand, was not furnished to the appellant hence the same was in clear violation of principles of natural justice.
The assessee company, engaged in the business of real estate, having multiple ongoing projects of construction and also selling upon the plots of land. The case of the assessee was selected for scrutiny assessment through CASS.
Telangana High Court held that demand for life tax on used motor vehicle imposed under Telangana State Motor Vehicle Taxation Act, 1963 is valid even when tax was paid on the subject vehicle in another state. Accordingly, writ petition dismissed.
ITAT Delhi held that mere confession of accused cannot be a ground for conviction since the same is not supported by credible evidence on records. Accordingly, addition under section 69 of the Income Tax Act deleted.
ITAT Surat imposed cost of Rs. 10,000 on the applicant for non-furnishing of requisite details post application for registration filed in Form No.10AB. Accordingly, matter remanded back to the file of CIT(E).
ITAT Mumbai held that PCIT is empowered to issue a show- cause notice and pass a revision order u/s. 263 of the Act when reassessment order passed by AO was quite cryptic. Accordingly, order of PCIT upheld and appeal of assessee dismissed.
Orissa HC sets aside central GST order against Bipin Kumar Agrawal, citing prior state audit on the same subject matter, relying on Allahabad HC precedent. (158 Chars)
Calcutta High Court upholds PCIT’s power to revise assessment based on minimal bogus purchase addition, citing lack of inquiry and Supreme Court precedent.
