ITAT Delhi dismissed Revenue’s appeal, upholding the deletion of Rs. 11.23 crore addition, clarifying that capital creditors were mistakenly shown as trade payables.
CBIC clarifies DFIA scheme rules: Technical input-export correlation is only for specific items under FTP 2023 para 4.29; other inputs only need name and quantity declaration.
The Madras High Court has invalidated a GST order against Rethinsamy Mahalingam, citing the tax officer’s failure to consider the assessee’s reply.
ITAT Delhi rules PCIT’s Section 263 invocation on interest disallowance invalid when loan addition is pending before CIT(A), citing judicial precedent.
ITAT Agra condones significant appeal delays for Oxford Shiksha Samit, citing Supreme Court directives on COVID-19 period and the principle of natural justice.
The Kerala High Court has stayed recovery proceedings for one month, allowing petitioners to shift their income tax appeals to the Tribunal under Section 253(1)(d).
The Madras High Court upheld the CIT’s power under Section 263 to direct recomputation of Tamil Nadu Cements’ set-off for business loss, depreciation, and investment allowance due to faulty method.
Calcutta High Court recently remanded a case involving DYS Impex Private Limited, ruling that GST Input Tax Credit (ITC) denial without considering the retrospective application of Section 16(5) of the WBGST/CGST Act, 2017, was unjustified. This decision impacts ITC claims for financial years 2017-18 to 2020-21.
Himachal Pradesh High Court halts income tax reassessment proceedings under Sections 148 and 151, awaiting a Supreme Court decision on a similar matter.
ITAT Cochin dismisses co-operative bank’s appeal, affirming tax on unexplained cash credits under Section 68, stating they don’t automatically qualify for Section 80P deduction.
