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Archive: 04 May 2025

Posts in 04 May 2025

CoC Can Seek Multiple Modifications to Resolution Plans: NCLAT

May 4, 2025 363 Views 0 comment Print

NCLAT Delhi clarifies that the Committee of Creditors (CoC) is not restricted to a single modification of resolution plans during CIRP.

ITAT Remits Appeal Dismissed for Alleged Delay, Directs Fresh Adjudication by CIT(A)

May 4, 2025 423 Views 0 comment Print

ITAT Mumbai remands appeal in Falguni Panchmatia case, condoning delay and directing fresh hearing due to lack of opportunity and procedural fairness.

ITAT Restores ₹30.91 Cr Unexplained Investment addition Case for Fresh Assessment

May 4, 2025 402 Views 0 comment Print

ITAT Pune restored a case where Rs. 30 crore was added as unexplained investment, granting the assessee a final chance to present evidence, with a penalty.

Karnataka HC directs GST Rate Hike Consideration on Pre-Existing Work Order

May 4, 2025 723 Views 0 comment Print

Karnataka High Court directs the PWD to consider Athreya Constructions’ representation regarding a GST rate hike on a pre-existing work order.

ITAT Sets Aside CIT(A)’s Ex-Parte Order without notice for Violating Natural Justice

May 4, 2025 450 Views 0 comment Print

ITAT Delhi sets aside CIT(A)’s ex-parte order against Sandha & Associates due to lack of notice, restoring the appeal.

ITAT Deletes Penalty Due to Misplaced Reliance on Case Law & Foreign Tax Credit

May 4, 2025 1602 Views 0 comment Print

ITAT Mumbai deletes penalty under Section 271(1)(c), stating no deliberate concealment and distinguishing case from precedent in Mak Data ruling.

ITAT Upholds Partial Addition for Unexplained Cash Deposits Lacking Source Proof

May 4, 2025 444 Views 0 comment Print

ITAT Hyderabad partially upholds AO’s addition for unexplained cash deposit by Shri Balineni Kishore Babu, confirming ₹48,000 due to lack of source proof.

No denial of Section 11/12 exemption for technical lapses in choice of audit form 

May 4, 2025 837 Views 0 comment Print

ITAT Pune upholds exemption under Sections 11 and 12, ruling that technical errors in form submission don’t justify denial for registered charitable trusts.

Delhi HC Quashes Reassessment Notice Beyond 10 Years for AY 2014-15

May 4, 2025 666 Views 0 comment Print

The Delhi High Court quashed a reassessment notice issued to Janus Infrastructure Projects for AY 2014-15, as it exceeded the 10-year limit under Section 149 of the Income Tax Act, as amended in 2021.

SC clarifies requirement for proper Section 151 sanction for AY 2016-17

May 4, 2025 1314 Views 0 comment Print

Supreme Court disposes of ACIT vs. Sangeeta Bhoolabhai case, following rulings in Rajeev Bansal and Siemens Financial Services.

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