ITAT Vishakhapatnam allowed weighted deduction under section 35(2AB) of the Income Tax Act since amount received from Department of Scientific & Industrial Research [DSIR] is soft loan and hence cannot be considered as grant-in-aid.
CESTAT Allahabad held that material imported based MOEF permission by a company cannot be diverted to any other unit for any purpose other than one stated in permission letter.
ITAT Visakhapatnam held that addition under section 68 r.w.s. 115BBE of the Income Tax Act deleted as the source for capital investment properly explained by the assessee. Accordingly, addition deleted.
CESTAT Chennai held that no customs duty could be demanded on the material intended for use in the factory, however, were destroyed by fire accident. Accordingly, duty demand not sustained.
On verification of the bank account copies and the other material available before him, AO noticed that the assessee made cash deposits amounting to Rs. 24,31,000/- by way of Specified Bank Notes [“SBNs”].
Calcutta HC allows appeal filing for part period in GST case due to technical issues with portal, directing payment and timely appeal submission.
Assessee- TAAI filed the appeal under Section 53B of the Competition Act, 2002, challenging the Competition Commission of India‘s (CCI) order dated 8.05.2020 alleging that the Department of Expenditure, Government of India, the Respondent No. 2, Balmer Lawrie & Co. Ltd.
The CoC resolved not to initiate liquidation process and decided to file an application for dissolution of the CD. In pursuance of the resolution passed by the CoC in its fifth Meeting dated 29.04.2024, an IA was filed by the RP which came to be rejected by the Adjudicating Authority.
CESTAT Hyderabad ruled that extended limitation under service tax cannot be invoked for mere opinion change by revenue. Case involves services by Varsity Education Pvt Ltd.
Patna High Court held that there is no reason to entertain the writ petition on the ground of testing the constitutional validity of section 29(2) of both Central Goods and Services Tax Act, 2017 and Bihar State Goods and Services Tax Act, 2017 since it is a mere after thought.
