ITAT emphasised that valuation must reflect circumstances on the transaction date. AO cannot use hindsight or later valuations to make additions under Section 50CA.
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Explains how electronic notices alone are insufficient for taxpayers lacking digital access, with courts holding such service ineffective under natural justice principles.
DRAT Chennai held that mortgage created on the basis of copy of the sale deed is not legal. Accordingly, mortgage created in favour of the Punjab and Sind Bank based on copy of the sale deed is held invalid.
The Court held that the final cancellation order exceeded the allegations in the show cause notice, making the action unsustainable. The matter was remitted and registration restored.
The Court held that GST authorities wrongly calculated tax on total turnover despite having actual combo-pack sales data. The ruling directs recalculation of pre-deposit based only on relevant B2B and B2C sales.
The Tribunal held that cash deposits were fully recorded in audited accounts, making section 69A inapplicable. The addition was removed as no unexplained money was found.
Court held prima facie that converting property from leasehold to freehold forms part of a sale and does not constitute a supply under GST. The ruling pauses recovery of GST until further hearing.
Tribunal ruled that promotional scheme expenses were properly accrued and supported by evidence. Disallowance of ₹16.22 lakh was deleted, allowing assessee’s appeal.
The Tribunal held that additions for cash deposits and property purchase were sustained without considering key bank records. The matter was sent back for fresh verification.
