Held that the cash deposits are made out of the sale proceeds of the assessee and in my opinion the assessee has properly explained the source of the cash deposits along with documentary evidence.
ITAT Ahmedabad held that invocation of revisionary proceedings under section 263 of the Income Tax Act merely taking second opinion unjustified. Further, view taken by AO cannot be set aside or deferred as per provisions of section 263.
Allahabad High Court held that if excess stock is found at the time of survey, then proceedings under sections 73/74 of the GST Act should be pressed in service and not proceedings under section 130 of the GST Act
Supreme Court ruling on Purolator India Ltd.’s excise duty dispute involving sales tax, cash discounts, and volume discounts under the Central Excise Act, 1944.
Rajasthan HC stays ECrL blocking under Rule 86A by range officer without a hearing opportunity, ruling violation of natural justice principles. Further hearing awaited.
ITAT Jaipur held that provisions of 68 as such are not applicable on the sale transactions recorded in the books of accounts because the sale transaction are already part of the income which is already credited in statement of profit & loss account.
Delhi High Court held that department cannot possibly seek to justify the retention of refund claim on account of its having been deposited voluntarily or being barred by limitation. Accordingly, refund claim allowed.
ITAT Surat held that considering the veracity of evidence, additional evidence filed by the assessee is essential and has direct bearing on all the additions/ disallowance, hence, all the additional evidence are taken on record. Accordingly, matter restored back.
Kerala High Court held that as transportation costs from place of removal to buyer’s premises not included in the assessable value of goods for purpose of payment of Central Excise duty hence service tax levied on such transportation cost not available as CENVAT Credit.
Gujarat High Court held that application filed u/s. 119(2)(b) of the Income Tax Act should be considered without adopting any pedantic technical approach. Accordingly, belated return filing permitted by exercising powers u/s. 119(2)(b).
