The ITAT Mumbai has ruled against an arbitrary 3% net profit addition for a liquor dealer. The court found the addition was based on assumptions, not evidence, as the books were audited
The Calcutta High Court has restricted Central GST authorities from re-auditing periods already covered by a prior audit, citing Section 65(7) of the GST Act.
This analysis examines how Structured Supply Chain Finance (SSCF) fits into the Insolvency and Bankruptcy Code (IBC). It explores the ambiguity of classifying SSCF as financial debt and the implications for creditors.
The ITAT Ahmedabad has restored a case involving unexplained cash deposits of Rs. 18.32 lakh to the Assessing Officer, citing a failure to examine debit entries and additional evidence, and condoning a 323-day delay in appeal filing.
Commissioner of Customs had confirmed the entire differential duty. Assessee submitted that the intended use of these products was explicitly outlined by the medical licenses that had been awarded to assessee under Medical Devices Rules, 2017.
ITAT Panaji sets aside NFAC’s dismissal of tax appeal for one-day delay, citing hyper-technical grounds and affirming timely filing.
Bail Application under Section 438 of the Code of Criminal Procedure, 1973 has been filed on behalf of the Applicant, Prabir Purkayastha seeking Anticipatory Bail in ECIR dated 02.09.2020 under Section 3 and 4 of the Prevention of Money Laundering Act, 2002.
CESTAT Delhi has upheld the confiscation of 2.95 Kg of foreign-marked gold from Kailash Chander Varshney, citing mismatched invoices and lack of duty payment proof.
ITAT Cochin provides partial relief to Palmshore Hotels, remanding the case to AO for fresh adjudication on business income classification and Section 43B disallowance.
The Madras High Court set aside an ITO order, granting a petitioner another chance to submit documents missing from their initial show cause notice reply.
