Calcutta High Court held that addition towards share capital/ premium as unexplained cash credit u/s. 68 of the Income Tax Act justified since the assessee did not discharge the creditworthiness and the genuineness of the transactions. Accordingly, appeal of revenue allowed.
Gauhati High Court held that the Summary of the SCN issued in FORM GST DRC-01 does not substitute the proper SCN required under Section 73(1) of both the Central and State GST Acts. Accordingly, summary cannot override or replace requirement of issuing proper SCN.
Madras High Court directs CBDT to hear taxpayer before deciding on a penalty notice, citing initial improper service and a four-month delay in communication.
The Calcutta High Court dismissed a writ petition by M/s ARS Metals, finding no jurisdictional error in the adjudication order that denied its ITC claims based on fake invoices.
ITAT Cochin allows Chittur Service Co-op. Bank’s 80P deduction, ruling that lending to non-members does not bar the claim, citing Supreme Court’s Mavilayi judgment.
Understand the different types of resolutions under the Companies Act, including Board, Ordinary, and Special resolutions. Learn the distinction between Ordinary and Special Business and which resolution type is required for various company decisions.
Delhi High Court upheld the validity of a consolidated show cause notice for multiple years in a fraudulent Input Tax Credit case, affirming a demand of over Rs. 83 crore against Ambika Traders.
Chennai Customs allows exporters to amend shipping bills for RoDTEP benefits. A new public notice addresses retrospective rate changes, enabling post-EGM claim amendments.
Madras High Court sets aside a GST penalty order against Tvl. Ramya Auto Spares due to alleged unawareness from registration cancellation, granting a fresh hearing on conditions.
ITAT Nagpur remands Kiran Anil Gothi Vs ITO cash credit case back to CIT(A) for fresh adjudication after assessee failed to provide documentation at initial stages.
