ITAT Jaipur held that addition towards unexplained cash credit under section 68 of the Income Tax Act merely based on retracted statement cannot be sustained. Accordingly, appeal of the revenue dismissed.
Key tax compliance deadlines for February 2025, including TDS, Vivad Se Vishwas updates, and GST filing for various turnovers and taxpayer categories.
The Supreme Court criticized trial courts for lacking courage in granting bail and urged High Courts to act judiciously, emphasizing the need for fair discretion.
Delhi HC rules that SEB rates, not IEX rates, determine the market price of electricity in transfer pricing cases, dismissing Revenue’s appeal.
Gauhati High Court quashes unsigned SCN and order under Section 73 of CGST Act, emphasizing mandatory signature by Proper Officer for validity of notices and orders.
Delhi High Court exempts MIMO-based Wireless Access Points from customs duty under 2005 Notification, clarifying MIMO and LTE Products interpretation.
HP High Court rules penalty under Section 16(7) of HP VAT Act cannot be invoked without ascertaining compliance with Section 16(4). Case remitted to assessing authority.
Delhi HC rules Joint Commissioner lacks authority to approve reassessment under Section 151 of Income Tax Act, citing Supreme Court’s Rajeev Bansal judgment.
Delhi HC rules Samsung India not a ‘Permanent Establishment’ of Samsung Korea. No tax liability under India-Korea DTAA for seconded employees’ roles.
