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Archive: 05 March 2025

Posts in 05 March 2025

No GP Addition Without Discrepancy in Purchases & Sales: ITAT Mumbai

March 5, 2025 1767 Views 0 comment Print

ITAT Mumbai rules on Nickunj Eximp case: Disputes over bogus purchases, demonetization cash deposits, and assessment procedures.

Tax appeals stand abated upon NCLT approval of a resolution plan under IBC

March 5, 2025 693 Views 0 comment Print

CESTAT Chennai ruled on Orchid Chemicals’ appeal, citing insolvency resolution precedents. The appeal was abated following NCLT approval. Read the full summary.

Delay in issuing Section 143(2) Notice Renders Reassessment Invalid: Delhi HC

March 5, 2025 3138 Views 0 comment Print

The Delhi High Court quashed a tax reassessment notice issued to Indus Towers Ltd. for AY 2009-10, citing procedural lapses and missed statutory deadlines.

Procedural Lapses Should Not Override Substantial Justice: ITAT condones Appeal filing delay

March 5, 2025 1557 Views 0 comment Print

ITAT Mumbai condones a 314-day delay in Atlantic Bio Medical Pvt. Ltd.’s appeal, citing a bona fide mistake in tax filing and a right to a fair hearing.

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