ITAT Bangalore held that TCS credit is allowed to the entity conducting the business, irrespective of the fact that the liquor license was in the name of another person. Accordingly, TCS credit allowed.
ITAT Ahmedabad held that assessment order passed by AO without conducting adequate inquiry is erroneous and prejudicial to the interest of revenue and hence revisionary proceeding under section 263 rightly invoked by PCIT.
ITAT Jaipur held that with regard to the issue of registration u/s. 12AB of the Income Tax Act, the assessee require one more opportunity to represent the correct fact and produce the registration certificate under Rajasthan Public Trust Act.
ITAT Ahmedabad held that invocation of revisionary power under section 263 of the Income Tax Act sustained as AO failed to conduct proper enquiries and verifications during original assessment proceedings.
ITAT Pune held that addition in respect of share capital not sustainable as no incriminating material found during course of search regarding non-genuine share capital. Accordingly, addition towards the same deleted.
ITAT Ahmedabad held that initiation of proceedings u/s. 147 of the Income Tax Act based on material found during search of another company is untenable as proceedings should be initiated u/s. 153C and not u/s. 147.
Madras HC rules Settlement Commission orders can’t be rectified under Section 154 of the Income Tax Act, upholding the principles from Brij Lal case.
Bombay High Court held that ‘water tax’ u/s. 141(1)(a) (i) and water benefit tax u/s. 140(1)(a)(ii) of the Mumbai Municipal Corporation Act is leviable irrespective of the fact whether water is actually consumed by the owner/occupier or not.
Bombay High Court held that initiation of reopening of assessment after expiry of four years from the end of relevant assessment year without failure on part of the petitioner to disclose any material fact fully and truly is unsustainable in law.
ITAT Delhi held that order under section 263 of the Income Tax Act passed on the issues for which no show cause notice has been issued is unjustifiable and hence liable to be quashed.
