Karnataka HC dismisses Revenue’s appeal, ruling that all reassessment notices for A.Y. 2015-16 issued after April 1, 2021, are invalid as per Supreme Court precedent.
The ITAT restores an NRI’s tax appeal, condoning a 442-day delay. The Tribunal ruled that genuine hardships justify overlooking technicalities and directed a rehearing on the merits.
ITAT Mumbai remands an NRI’s tax case for a new hearing, citing improper service of notice. The Tribunal directs the CIT(A) to re-examine the validity of the assessment reopening.
ITAT Ahmedabad rules that cash deposits made during demonetisation cannot be singled out and must be treated as business income, allowing an assessee’s appeal and deleting a Rs.26.57 lakh addition.
Mega Structures Realestate Limited and its MD, Rajkumar Gadge, fined ₹5.5 Lakh by ROC Goa for violating Section 187 of the Companies Act, 2013, by not holding company assets in its own name.
ITAT Ahmedabad dismisses Revenue’s appeal, quashing a Rs.ｹ116.01 crore bogus sales addition to Pel Industries Ltd. as the assessment reopening was invalid and time-barred.
ITAT Ahmedabad dismisses a trust’s appeal, sustaining a Rs.8.36 lakh tax addition. The trust was ineligible for Section 11 benefits as it lacked Section 12AA registration and served a specific community.
India’s GST undergoes major reforms, shifting to a broad two-rate structure (5% & 18%) with a 40% demerit rate, aiming to simplify the system and boost consumption.
NCLT Chennai held that application u/s. 7 of IBC against Corporate Debtor [Ran India Steels Private Limited] for initiation of CIRP admitted as financial debt is proved by the Financial Creditor and the ‘default’ having been committed by the Corporate Debtor.
CESTAT Delhi held that Adjudicating Authority is bound by the findings in remand proceedings, it is not open for him to revisit the issue. Thus, Adjudicating Authority failed to appreciate the limited scope of its jurisdiction in terms of the remand order and thereby fell in error in reconsidering all the issues on merits.
