Thus, penalty is not warranted on issues where a substantial question of law exists, indicating that the matter is not free from doubt. Accordingly, we quash the penalty order under section 271(1) (c) of the Act.
NCLAT Delhi held that if CIRP is initiated fraudulently for any purpose other than the resolution of insolvency or liquidation it can be set aside. Accordingly, CIRP set aside and appeal allowed.
The AO added excise duty and sales tax to the total turnover while excluding lease rent and other incomes, categorizing them as “Income from Other Sources” rather than “Business Income”.
Bombay High Court held that delayed payment of refund burdens public exchequer with interest amount and also causes serious prejudice to the assessee. Accordingly, delayed payment of refund causes serious prejudice to both revenue and assessee.
ITAT Pune held that penalty under section 271(1)(c)/ 271AAB of the Income Tax Act imposable even in case of voluntary disclosure or declaration or surrender per se of income. Accordingly, appeal filed by revenue allowed.
The present case is one such case, wherein, enormous delay of 1788 days occasioned in preferring the second appeal due to the lapses on the part of the officials functioning under the State, though valuable Government lands were involved.
Kerala High Court granted one more opportunity to upload Form GST ITC-01 since the form was not uploaded due to technical glitches in GST portal. Accordingly, writ petition allowed.
ITAT Ahmedabad held that CIT(A) dismissed the appeal due to non-compliance of the opportunities granted to the assessee. Accordingly, cost of Rs. 10,000 imposed on the assessee and matter remanded back to CIT(A).
NCLAT Delhi held that petition under section 7 of the Insolvency and Bankruptcy Code, 2016 admissible when interest amount demanded by Financial Creditor is more than INR 1 Crore since financial debt means a debt alongwith interest.
ITAT Jaipur remanded the matter back to the file of AO since ex-parte order was passed due to non-appearance/ non-furnishing of response since assessee died during pendency of the proceedings.
