Standard Chartered Bank UK, challenged the validity of the reassessment order on the grounds of jurisdiction and non-consideration of crucial information provided in its response to the notice.
Analysis of Hitesh Nagwani vs Commissioner of Customs case from Madhya Pradesh High Court. Details of customs order and imposed Rs. 25,000 cost. Legal insights.
Analysis of Himanshu Infratech vs ITO case from Delhi High Court. Quashing of reassessment due to delay in issuance notice u/s 148A(b) because of technical glitches on ITBA.
Analysis of Surin Automotive vs CESTAT Chennai case. CESTAT’s decision that bill discounting facility is taxable not only by banks but also by a body corporate.
Analysis of PCIT vs Eltek SGS Pvt Ltd case. Delhi High Court upholds the allowance of depreciation on goodwill arising from an amalgamation despite no cash payment.
Analysis of Hero Motocorp Ltd vs Commissioner of Central Excise case. CESTAT Chandigarh allows CENVAT credit on helmet locks supplied with motorcycles as accessories.
Delhi High Court held that exemption under section 10(23C)(iiiac) of the Income Tax Act is available when government grant exceeds 50% of total receipts (and not total income) including voluntary contribution.
Punjab and Haryana High Court granted conditional bail in case of revenue fraud of more than 4.61 crores as there is no justification for further pre-trial incarceration.
ITAT held that in view of non-cooperation on the part of the assessee before lower authorities for verification of it’s own documents/ claims cost of Rs. 20,000 imposed on the assessee to be deposited into Prime Minister Relief Fund.
CESTAT Ahmedabad held that penalty on mediator acting as a broker in dealing with trading of advance licence which was forged or obtained fraudulently unjustified as it is not established that he was aware about forged/ fake nature of licence.
