Home Highlights December 2013 Year 2013 This

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1. Validity of reopening of assessment - Reasons were recorded by the Assessing Officer in an arbitrary manner and there is no application of mind by the AO. For example,...

2. Interest on delayed refund of IGST paid on export of the goods along with duty drawback - The refund of the petitioner was withheld for almost six months and after six...

3. Valuation of goods - Mere doubt, without any reason or rhyme cannot be made the basis for rejection of the transaction value, without any reasonable and justifiable evidence - AT

4. IT, Estimation of income without rejecting books of accounts is arbitrary, addition made by AO deleted

5. Interest on the delayed disbursal of amount of Budgetary Support already sanctioned - Admittedly, the funds at the disposal of Commissionerate were far less than the...

6. Withholding of refund - seeking release of refund - Legislature was conscious of the fact that the power conferred to withhold refund in Section 21 is akin to exercising...

7. Order cancelling petitioner's registration violated principles of natural justice as it was passed mechanically without application of mind and without assigning reasons....

8. Section 245 of the Income Tax Act empowers the Assessing Officer to adjust refund against outstanding tax demand and withhold refund where assessment or reassessment is...

9. Reopening of assessment u/s 147 - ‘reasons to suspect’ or ‘Reasons to believe’ - The manner in which the reasons have been recorded make it appear that the assessing...

10. Validity of reopening of assessment u/s 147 - Unexplained cash deposit in the bank account - Apparently, the explanation given by the assessee has been rejected without...

11. Declaring that EOU is not entitled to All Industry rate, is arbitrary, absurd and does not stand to reason – drawback cannot be denied - HC

12. The court quashed the impugned orders rejecting the appeal as the appellate authority failed to assign any reasons, violating principles of natural justice. It is...

13. TDS u/s 195 - withholding tax deducted at source (TDS) - Considering that the nature of these proceedings is confined to withholding of tax, and that the financial year...

14. Absence of reasons in approval order u/s 151 for reopening assessment u/s 148 renders it invalid. Mere appending of word "approved" without recording satisfaction after...

15. SCN issued for cancellation of registration without detailed reasons. Held: Respondent authorities' approach commendable for complying with natural justice by giving...