2021-TIOL-1328-HC-MAD-IT

CIT Vs Shanmugham Muthu Palaniappan

Whether open terrace area could not be the subject matter of inclusion as 'built up area' to deny benefit u/s 80IB - YES: HC

- Revenue's appeal dismissed:MADRAS HIGH COURT

2021-TIOL-1327-HC-MUM-IT

Credit Agricole Cib Services Pvt Ltd Vs Additional/Joint/Deputy /Assistant Commissioner of Income-Tax

In writ, the High Court finds that the assessee has been prejudiced by non-issuance of SCN. As the assessee apprehends recovery of demand, the Court finds the need to grant ad interim protection. Thus it directs that no action be taken by the Revenue in furtherance of the assessment order, till date of hearing. Notice issued to parties.

- Notice issued :BOMBAY HIGH COURT

2021-TIOL-1004-ITAT-MUM

ACIT Vs Salsette Catholic Cooperative Housing Ltd

Whether deduction is allowed to cooperative societies u/s 80P in respect of interest income earned from amounts advanced to cooperative banks - YES: ITAT

- Revenue's appeals dismissed: MUMBAI ITAT

2021-TIOL-1003-ITAT-MUM

ITO Vs Perspective Business Systems Pvt Ltd

Whether when transaction is fully explained and substantiated by evidence, no addition can be made as unexplained credit u/s 68 – YES: ITAT.

- Revenue's appeal dismissed: MUMBAI ITAT

2021-TIOL-1002-ITAT-PUNE

Prima Pvt Ltd Vs ACIT

Whether exemption granted under proviso to Section 54EC(1) of the Act should not be construed transaction-wise, but financial year-wise - YES: ITAT

- Assessee's appeal partly allowed: PUNE ITAT

2021-TIOL-1001-ITAT-INDORE

ITO Vs Vardhman Sakh Sahakarita Mydt

Whether transactions from bank accounts held in name of registered co-operative society having its PAN and operating under registered bye-laws, to be taxed under I-T Act, should be assessed only in hands of assessee society and not its office bearers – YES: ITAT.

- Appeals partly allowed: INDORE ITAT

2021-TIOL-1000-ITAT-CHD

Building Committee (Society) Barnala Vs CIT

Whether for purposes of sec. 2(15), an object beneficial to a section of public is an object of general public utility – YES: ITAT.

- Assessee's appeal allowed: CHANDIGARH ITAT

2021-TIOL-999-ITAT-VIZAG

ACIT Vs Hirapanna Jewellers

Whether addition u/s 68 can not sustain as cash receipts represent the sales proved with evideces and which the assessee has rightly offered for taxation - YES : ITAT

- Revenue's appeal dismissed: VISAKHAPATNAM ITAT

2021-TIOL-998-ITAT-DEHRADUN

Deshpal Singh Kohli Vs DCIT

Whether penalty notice is invalidated where the specific provision of Section 271(1)(c) which is sought to be invoked, is not mentioned & where the inapplicable provision has not been struck off - YES: ITAT

- Assessee's appeal allowed: DEHRADUN ITAT

Cus - The issue arises is that whether the Bronze Cladding Panel for Statue of Unity Project was classifiable under Tariff Item 8311 90 00 of Customs Tariff Act, 1975 as 'other for kind use for soldering, brazing, welding' which is subject to IGST @ 18% as held by Revenue or the same was classifiable under Tariff Item 8306 21 10 ibid as 'statuettes', which is subject to IGST @ 12% as declared by assessee - Undisputedly the goods imported by assessee are parts of statue of Sardar Vallabhbhai Patel which was installed and named as 'Statue of Unity', therefore, there is no doubt that the goods imported by assessee have been used as part of entire Statue of Unity - The objection was raised without any explanation that why the goods in question is classifiable under Heading 8311 ibid - Merely on the Audit Objection which has no basis, the SCN was issued without application of mind and the same was also confirmed by adjudicating authority as if the Auditors who raised an objection without any basis is the supreme legal authority which was adopted verbatim without application of mind - In any case the goods imported by assessee cannot be classified under Tariff Item 8311 90 00 ibid - If it is so, the entire proceedings of SCN and adjudication shall stand quashed - Even Tribunal need not to go into the correctness of classification declared by assessee - The Revenue has not discharged the onus of establishing that imported goods falls under particular classification which is clearly upon the Revenue - However, since the Revenue's claim of classification is held to be incorrect the entire proceeding of Revenue is quashed - The impugned order is set aside: CESTAT

- Appeal allowed: AHMEDABAD CESTAT