Madras High Court held that a trust’s legitimate tax exemption cannot be denied merely for delay in filing Form 10B, directing the Assessing Officer to allow benefits under Section 12A.
ITAT Indore held that activity of providing hostel/mess is part of main activity of imparting education. Hence, claim of 15% of gross receipts as eligible exemption under section 11(1)(a) of the Income Tax Act justified.
The Kerala High Court held that revisional powers under Section 263 cannot be invoked when the Assessing Officer has examined and accepted a deduction claim under Section 32AC after due inquiry.
The CESTAT Mumbai ruled that confiscation, fine, and penalty cannot be imposed on IGST demand arising from breach of pre-import conditions under the Advance Authorization Scheme.
CESTAT Chennai held that Enriched Omega 3 Fatty Acid (Fish Oil – Ethyl Ester) and Enriched Omega 3 Fatty Acid-Powder (Fish Oil – Ethyl Ester-Powder) are classifiable under CETH 1516 1000 and not under CETH 3824 9090 as contested by department.
The Madras High Court held that purchase tax under Section 7A of the TNGST Act cannot be imposed merely because the seller failed to remit sales tax.
The Telangana High Court invalidated unsigned DRC-01 and DRC-07 documents and directed restoration of amounts unilaterally debited from the taxpayer’s electronic credit ledger.
ITAT Delhi held that a seized document mentioning ₹18 lakh could not, without corroboration, be treated as undisclosed income of Krishna Gopal Saraf, deleting the addition.
The NCLAT dismissed Trinity Auto Components Ltd.’s appeal seeking enforcement of benefits under the BIFR scheme. The Tribunal held that the approved resolution plan under IBC replaced the earlier rehabilitation scheme, extinguishing all prior claims. It reiterated that no dual benefits can be claimed after IBC plan approval.
ITAT Delhi allowed Ekalavya Gift Galleries Pvt. Ltd.’s appeals, holding that share capital and premium received from investors were properly explained and not taxable under section 68.
