ITAT Ahmedabad validates AO’s 20.97% gross profit estimation for road contractor Sarandhar Gupta due to unverifiable cash transactions
ITAT Ahmedabad held that section 275(1A) of the Act empowers AO to impose or enhance or reduce or cancel penalty pursuant to the quantum appeal before higher appellate authority or court by giving effect to the quantum order.
ITAT upholds AO’s 20.97% gross profit estimation for Sarandhar Gupta due to unverifiable cash expenses in road contracting business.
Delhi High Court held that independent non-executive director cannot be held liable for non-fulfilment of export obligations by the company. Accordingly, penalty imposed on the director is liable to be set aside.
ITAT Kolkata rules assessment void due to non-issuance of mandatory notice u/s 143(2) in Sandip Kumar Keshari Vs ITO case.
During the year, assessee has entered into several international transactions as per Form 3CEB and after analyzing the transactions under consideration. By relying on various decisions, TPO has rejected the submissions of the assessee.
ITAT Mumbai allows WOW Entertainment’s appeal, deleting ₹1.44 Cr addition under Section 68 due to denied cross-examination and proof of loan genuineness from a cooperative credit society.
CESTAT Bangalore held that question of redetermination of value doesn’t arise since the impugned goods were replacement for goods imported earlier which were found to be defective. Accordingly, appeal allowed.
Orissa High Court clarifies that the Supreme Court’s interim relief on entry tax interest applies solely to petitioners who filed the SLP, not all assessees.
Explore the judicial perspective on bail denials under CGST Act Section 132, highlighting the “bail is rule” principle and impact of recent court decisions.
