Calcutta High Court rules that the Income Tax Department cannot retain a refund under Section 245 without an outstanding tax liability, ordering release of Rs.22,73,833/- with interest.
ITAT partly upheld addition of Rs.27.5 lakh as unexplained cash under sections 69A and 115BBE, granting limited relief of Rs.7.5 lakh for partial savings.
ITAT Pune reverses CIT(E) order, granting 80G approval to a trust, ruling that minor religious expenditures do not negate predominant charitable activities.
The Calcutta High Court dismissed the revenue’s appeal against the ITAT, holding that the assessee properly identified shareholders and explained the share premium, making Section 68 inapplicable. The ruling confirms that proper documentation can prevent share capital additions.
Delhi High Court refused waiver of pre-deposit for CHAs implicated in misuse of licenses for illegal imports, allowing appeals to be filed before CESTAT.
ITAT Jaipur held that addition made on the basis of documents found from the third party without providing any opportunity of cross-examination is liable to be deleted on the ground of violation of principles of natural justice.
NCLAT Delhi held that collusive bidding and bid rigging duly proved on the basis of evidence such as common IP usage; use of fake and fabricated documents. Thus, order of commission holding appellant guilty u/s. 3(3)(c) and 3(3)(d) upheld.
Delhi High Court held that simple default of loan payable outside India cannot restrict Indian Citizen to travel abroad since there is no civil or criminal proceedings against petitioner in India. Thus, impugned Look-Out Circular quashed.
NCLAT Delhi held that the leasehold rights with regard to the leased property are the assets of the Corporate Debtor. Accordingly, liquidator has not committed any illegality in including the demised leased land in the Liquidation Estate of the Corporate Debtor. Thus, appeal dismissed.
Tribunal ruled that concessional customs duty was unavailable where imported goods were not actually used in manufacturing due to a fire, upholding duty demand while setting aside penalties.
