The Investigation Wing had carried out investigation with regard to the price manipulations and generation of bogus long term capital gains in number of stocks, classified as penny stocks.
Kerala High Court held that assessment and penalty order mentioning old address of the appellant are liable to be set aside as against the principles of natural justice. Accordingly, petitioner directed to immediately update his current address and e-mail ID.
Delhi High Court held that telecommunication towers would not fall within the ambit of Section 17(5)(d) of the Central Goods and Services Tax Act. Thus, denial of input tax credit unsustainable in law.
IFSCA releases updated guidelines for setting up and operating International Trade Finance Services Platforms (ITFS) in IFSC, effective immediately.
ITAT Ahmedabad held that denial of exemption u/s. 11 by CPC in the rectification petition not justified since the same was allowed in earlier proceeding and it is settled position of law that debatable issues cannot be done in rectification proceedings.
Kerala High Court remanded the matter back to Appellate Authority since fact that the grant of discount has no tax effect under CGST has not been considered. Accordingly, order quashed and restored back.
ITAT Ahmedabad allowed revenue’s appeal by concluding that approach of CIT(A) in singularly dismissing each piece of evidence, we find, is totally incorrect. Accordingly, matter restored back to CIT(A) to adjudicate the matter of bogus accommodation entry afresh.
The CESTAT Ahmedabad ruling in RTI Spinners Vs C.C.- Mundra considers pre-deposit requirements under Section 129E of the Customs Act. Appeals remanded for further review.
The petitioner was a registered dealer under the Kerala Value Added Tax Act, 2003 and Central Sales Tax Act, 1956. An assessment of the petitioner for the year 2015-16 was completed u/s. 25(1) of the KVAT Act by order dated 15.12.2018.
The Madras High Court remanded the case of AKR Academy, challenging the denial of exemption under Section 10(23C) due to an error in filing the income tax return.
