In the case of Patel Ambalal Haridas – HUF Vs ITO, ITAT Ahmedabad orders re-evaluation of land value under section 50C, pointing to a failure to consider the Jantri value and Valuation Report. The case impacts how land value is assessed for capital gains tax purposes.
ITAT Pune in Pride Purple Properties, quashed retrospective determination of annual letting value of un-sold residential units. ITAT ruled that prospective amendments cannot apply retrospectively, providing clarity on taxation of real estate properties.
In Pavuluri Sylendra Nellore Vs ITO case, ITAT Hyderabad confirms addition under section 69C due to unexplained source of credit card payment.
Orissa High Court grants interim relief in Nilamadhaba Enterprises vs CT & GST Officer, staying tax demand due to the absence of a GST Appellate Tribunal.
CESTAT Hyderabad in Shakelly Venkat Chand Vs Commissioner of Customs, asserts Customs Broker’s accountability for their employee’s act of misrepresentation before Customs Authorities.
Delhi HC in Victorious H Grand Vs PCIT, instructs Income Tax Department to dispose of revision application under Section 264 of I-T Act within eight-week timeframe.
Delhi High Court has directed readjudication in the case of Praveen Bansal Vs ITO, stating that the assessment order under Section 148A(b) of the Income Tax Act is not valid if the escaped income is below Rs. 50 lakhs.
Delhi High Court mandates reassessment in Praveen Bansal vs ITO, emphasizing fair hearing and verification of claims under Section 148A(b) of the Income Tax Act.
Delhi HC in Merlin Facilities Pvt. Ltd. Vs Union of India, held that impugned order of provisional attachment of bank accounts under CGST Act becomes non-operative post statutory period of one year.
CESTAT Delhi allows interest on auction sale proceeds from date of receipt by Customs Department, till the date of disbursal, in Oriental Trimex Limited vs Commissioner of Customs (Import) case.
