From 2022-23 to 2024-25, appeals filed at NCLAT rose steadily, with IBC cases forming the majority, reflecting active engagement in corporate insolvency and legal adjudication.
ITAT Delhi held that a loan used to repay a bank cannot be treated as a trading liability under section 41(1). Since no deduction was claimed earlier and no write-back occurred, the addition of ₹8.22 crore was rightly deleted.
The issue was whether a charitable trust could lose exemption due to late uploading of Form 10B. ITAT held that Form 10B is procedural and delay alone cannot defeat exemption when audit was completed in time.
ITAT Delhi held that Section 69C cannot be invoked when purchases are recorded in books, paid through banking channels, and sources are explained. Estimated profit addition of 12.5% was deleted.
The Gujarat High Court ruled that GST confiscation under Section 130 cannot precede the full procedure under Section 129, emphasizing statutory compliance in transit seizures.
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The MCA has increased capital and turnover thresholds for small companies, enabling more businesses to enjoy reduced compliance and simplified reporting.
The reassessment was framed ex-parte after notices were served on a wrong email address. ITAT Delhi ruled that effective hearing is a sine qua non under the law, and proceedings based on faulty service cannot stand. The case was remanded to the AO for de-novo consideration.
The appellate authority dismissed the appeal ex-parte citing non-prosecution. ITAT Delhi held that mere issuance of notices does not satisfy the requirement of effective hearing. The order was quashed and the matter sent back for fresh decision.
The ROC held that depositing interim dividend in a current account instead of a separate account violates section 123(4). Monetary penalties were imposed despite subsequent compliance.
