ITAT Hyderabad held that cancellation of registration granted to appellant-society u/s. 12AA of the Income Tax Act not justifiable since conditions precedent for cancellation of registration u/s. 12AB(4)(ii) of the Income Tax Act not satisfied.
Madras High Court held that development charges paid to SIPCOT not being capital asset doesn’t qualify for the claim of depreciation. However, the same qualifies as revenue expense and assessee entitled to claim deduction @5% as SIPCOT would deduct 5% every year.
Delhi High Court held that writ seeking direction to Central Bureau of Investigation [CBI]; Enforcement Directorate [ED] and Serious Fraud Investigation Office [SFIO] to investigate in gigantic Westland Trade Pvt. Ltd. franchisee scam is dismissed.
CESTAT Chennai held that imported LED Monitors Tiles are classifiable under Customs Tariff Heading 84285200 and hence eligible for exemption in terms of Notification No. 24/2005-Cus dated 01/03/2005. Accordingly, appeal allowed.
Gujarat High Court ruled that reassessment beyond four years is invalid when no new material or failure of disclosure exists, terming it a mere change of opinion.
The Tribunal set aside a service tax demand against a mandap keeper, ruling that a photocopied invoice and presumptions cannot justify tax liability.
Gujarat HC quashed a Section 148 notice issued after permissible surviving time, ruling it time-barred under Supreme Court guidelines in Rajeev Bansal and Ashish Agarwal.
The ITAT Nagpur set aside an addition made under Section 40(a)(ia), holding that non-deduction of TDS on capital expenditure does not attract disallowance since it is not claimed as an expense.
The Tribunal held that a partner can claim deductions for travel, depreciation, and similar expenses from remuneration received from a firm as it qualifies as business income.
Allahabad HC found that GST dispute raised factual questions unsuitable for writ jurisdiction. It directed petitioner to pursue remedies before adjudicating authority under GST law.
