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Archive: 25 January 2025

Posts in 25 January 2025

NCLAT Dismisses Appeal against Rejected Resolution Plan after Second Plan Approval

January 25, 2025 126 Views 0 comment Print

NCLAT dismisses appeal challenging rejection of a resolution plan after a fresh plan was accepted, rendering the appeal infructuous.

Denial of fair opportunity: ITAT directs readjudication of Section 12AB application

January 25, 2025 165 Views 0 comment Print

ITAT Ahmedabad restores Sharvashram Jagruti Sansthan Trust’s case for re-evaluation by CIT (Exemption), citing natural justice and insufficient hearing opportunities.

Addition at 8% of Gross Profit without hearing: ITAT directs readjudication

January 25, 2025 171 Views 0 comment Print

ITAT Ahmedabad remands Vinodchandra Dahyabhai Darji’s tax case for fresh adjudication after finding denial of a hearing in a faceless appeal process.

Credit Card Misuse: No Section 271(1)(b) Penalty if reasonable explanation given

January 25, 2025 3315 Views 0 comment Print

ITAT Ahmedabad ruled in favor of the assessee, deleting penalties under Section 271(1)(b) for A.Ys. 2012-13 & 2013-14, citing lack of non-compliance evidence.

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