ITAT Ahmedabad held that law doesn’t require brought forward additional depreciation from preceding year to be set off against opening WDV of the assets. Thus, revision u/s. 263 of the Income Tax Act not sustained as order of AO not erroneous.
ITAT Chennai allowed Lotus Footwear’s 100% SEZ deduction u/s 10AA for Unit-2, ruling it was a new undertaking established with fresh capital and not a splitting of the existing unit
Kerala High Court held that correction of Basic Tax Register from nilam to purayidam based on re-survey conducted prior to enactment of Act 28 of 2008 are valid. Accordingly, writ appeals of department are dismissed.
The ITAT Delhi remanded the ₹3.94 Cr unexplained cash deposit addition against commission agent Manoj Kumar to the CIT(A). The Tribunal ordered a fresh verification of the taxpayer’s cash flow, noting the lack of agreements and reconciliation of deposits with books.
The ITAT Delhi quashed the reassessment against Lombard Portfolio Pvt. Ltd., ruling the Section 148 notice was time-barred. Following the Supreme Court’s mandate in the Ashish Agarwal case.
ITAT Delhi ruled that salary paid to expatriates on local contracts is deductible and that CSR expenditure disallowed under Section 37(1) remains eligible for deduction under Section 80G.
Patna High Court allowed bail application in illegal mining matter as twin conditions under section 45 of the Prevention of Money Laundering Act, 2002 [PMLA Act] satisfied and also petitioner already undergone nearly 12 months of incarceration. Accordingly, bail application allowed.
Gujarat High Court held that show cause notice proposing cancellation of GST registration as well as order for revocation of application for cancellation of registration without stating any reasons is in breach of principles of natural justice and hence is liable to be quashed.
The question whether the contractual work was an exempt construction activity or taxable manpower supply required fact-finding, which was beyond the jurisdiction of the writ court as Court did not sit in appeal or reappreciate evidence, but only reviews the decision-making process, therefore, assessee had an efficacious appellate remedy under the statute.
Jammu and Kashmir High Court held that refund of Education Cess and Secondary and Higher Education Cess [SHE Cess] in terms of exemption under Notification No.56/2002-CE is allowable. Accordingly, writ petition is allowed with direction to release refund of education and SHE Cess.
