ITAT Mumbai held that presumptive taxation scheme under section 44AD of the Income Tax Act is duly applicable to nursing home since the assessee cannot be classified as a ‘person’ engaged in the ‘medical profession’.
Delhi High Court held that the provisioning for Asset Reconstruction Cost qualified the prescriptions of AS 29 and the assessee was thus justified in accounting for the same. Thus, that question is answered in favour of assessee.
Karnataka High Court held that forcible recovery during course of search or investigation is contrary to law and hence liable to be refunded back. Thus, writ appeal dismissed as devoid of merit.
SC rules Sub-Registrars cannot verify vendor’s title during registration; Rule 55A(i) of Tamil Nadu Registration Rules declared inconsistent with Registration Act.
ITAT Hyderabad held that re-assessment under section 148 merely based on borrowed satisfaction, without any independent verification and application of mind, is invalid and liable to be quashed. Accordingly, notice u/s. 148 and consequent order quashed.
ITAT Pune allows 80P(2)(d) deduction for cooperative society’s interest income from cooperative bank investments.
Kolkata High Court grants stay on tax recovery in Adani Wilmar case, pending Appellate Tribunal formation, following Finance Ministry circular.
Rajasthan High Court held that initiation of proceedings under section 153C of the Income Tax Act based on WhatsApp chats with specific inputs cannot be said to be vague or hit by the strict parameters of Section 153C of the Income Tax Act.
Kerala High Court directs consideration of Section 74 CGST/SGST invocation as a preliminary issue in Honey Rose Varghese vs. State of Kerala.
ITAT Jaipur quashes penalty under Section 271E of the Income Tax Act in Anil Sharma vs. ITO due to absent recorded satisfaction.
