Summary of tax, GST, Customs, SEBI, RBI, and other regulatory notifications and rulings issued in India during the week of May 5-11, 2025.
ITAT Ahmedabad confirms CIT(A)’s decision to delete addition for bogus creditors and allow restricted depreciation on a CNC Lathe for AY 2017-18.
ITAT Delhi allows Gajender Kumar’s appeals for AYs 2012-13, 2013-14, quashing reassessments over invalid reasons based on unverified cash deposit info.
Delhi High Court sets aside tax reassessment for firm post-IBC resolution plan, citing ‘Clean Slate Theory’ and prior judgments on extinguished dues.
CESTAT Delhi held that consultancy services rendered by the appellant to the foreign university/foreign group entity do not fall under the category of “intermediary services” and the appellants are eligible for the benefit of „export of services”. Accordingly, appeal allowed and demand set aside.
Delhi High Court sets aside Section 153C notice for AY 2015-16, ruling assessment time-barred based on date documents were handed over by the search AO.
Madras High Court set aside the rejection of Annai Velanganni Industries’ tax appeal, condoning a 192-day delay due to the proprietor’s ill-health and ordering a decision on merits.
ITAT Delhi sends back tax case on cash deposit addition to AO, citing need to verify if bank account belonged to dissolved firm or proprietor.
Delhi High Court directs unblocking of Sai Ram Enterprises’ ITC, citing Rule 86A limit after tax authorities blocked credit for over one year.
ITAT Lucknow dismisses appeal by Raghav Agarwal (HUF) challenging reassessment and additions following settlement under Vivad se Vishwas Scheme.
