ITAT Delhi deletes section 68 addition in B N Public School vs ACIT, confirming no separate PAN or return needed for institution owned by trust/society.
CESTAT Chennai’s ruling on Ford India Pvt Ltd: No Service Tax on composite contracts for vehicle repair involving goods & services before 01.07.2012.
Analysis of ITAT Delhi’s ruling in Bushra Javed Vs ACIT: Indexation benefits for acquisition costs based on payment year. Read the full legal insight here.
Ashvin Narayan Bajoria (HUF) Vs ITO (ITAT Surat) Recently the SMC Bench of Surat Income Tax Appellate Tribunal passed a judgement in the aforementioned case deleting the penalty levied by the Ld. Assessing Officer under section 271(1)(c) of the Act for concealment of income. The central point of discussion was whether or not penalty imposed […]
ITAT Indore held that addition unsustainable as genuineness of the agricultural operations of the assesse and sales made by the assesse duly accepted.
Mere collection of tax by the selling dealer is not sufficient; the tax must be duly paid to the government. The burden of proof lies with the purchasing dealer to substantiate that the tax collected has indeed been paid to the government by the supplier.
ITAT Delhi held that amount which was mistakenly received and returned with interest by virtue of order of the Court is allowable as deduction under section 37 of the Income Tax Act.
ITAT Surat restored the matter back to the file of Pr. CIT as revisionary order under section 263 of the Income Tax Act cannot be passed without issuance of show cause notice on the subject matter. Such revisionary order is against the principal of natural justice.
CESTAT Ahmedabad held that Parts of Drier/ parboiling parts namely Heat Exchanges, Drier Fan and Aluminium Fin Tubes are classifiable under Chapter Heading 8437 and attracted NIL rate till Circular No. 924/14/2010-CX dated 19.05.2010 got rescinded.
CESTAT Ahmedabad held that goods imported are classifiable under tariff heading 27101290 which are allowed to be imported only through State Trading Enterprises (STE), as per the Foreign Trade Policy (FTP) condition 5 of chapter 27. Redemption fine and penalty justified as condition of the policy for importing goods not satisfied.
