Madras High Court held that the Merchandise Exports Incentive Scheme (MEIS) scrip can be cancelled even if the scrips are availed off and the validity period of 24 months has expired. Accordingly, matter is remanded back to enable authority to apply its mind.
ITAT Chandigarh held that surplus funds of a charitable institution are being held in a fiduciary capacity hence can never be used for any other purpose except for charitable activity. Accordingly, matter remanded back to AO for fresh adjudication.
The adjudication is conducted as per the mechanism outlined under SEBI Act and the rules framed thereunder. Notably, the provisions of the SEBI Act or its rules do not mandate the issuance of a separate demand notice before recovery.
In the case on hand, the petitioners claim that MFDs are freely importable items, whereas the Customs Department claims that they are restricted items which require certification from Bureau of Indian Standards (BIS) and prior authorisation from DGFT, before importing them.
Gujarat High Court held that departmental officers who issued summons or arrest memo are not required to be cross-examined by the petitioner. Accordingly, non-granting cross-examination to that extent is justifiable.
ITAT Delhi held that imposition of penalty u/s. 270A(9)(a) of the Income Tax Act without mentioning the specific instance of misreporting in the notice or in order will vitiate the penalty order. Accordingly, penalty deleted and appeal allowed.
Chhattisgarh HC grants liberty to petitioner to file appeal against GST orders, directs appellate authority not to reject on limitation grounds if filed within 30 days.
Madras High Court sets aside tax order against Sri Srinivasa Farm Service, citing violation of natural justice. Court mandates fresh hearing, consideration of replies, and bank account de-freeze.
ITAT Ahmedabad holds NFAC wrongfully dismissed appeal on delay; remands case involving ₹213 Cr additions on grants and accrued interest.
ITAT Delhi held that taxability of service receipt amounts in terms of India- Thailand DTAA needs fresh consideration since relevant documents are not submitted. Accordingly, appellant is directed to submit all the details before DRP.
