Supreme Court refused to interfere with the High Court ruling that treated settlement applications filed before 31.03.2021 as valid, while keeping the legal question open
The ITAT ruled that an addition under section 68 cannot be sustained solely on a retracted statement of a third party, deleting ₹81 lakh share capital added to income.
The Tribunal ruled that a car financed partly through unexplained cash could be attached under PMLA, even though a bank held a secured interest, reinforcing that tainted funds justify attachment.
Supreme Court ruled that compassionate appointments are concessions, not rights. Once a dependent accepts a post, claims for higher posts are barred to prevent endless compassion.
NCLAT Delhi held that debt arising from advance payment to corporate debtor for the supply of goods qualifies as operational debt under section 5(21) of the Insolvency and Bankruptcy Code, [IBC]. Accordingly, operational debt and default established hence section 9 application rightly admitted.
The court ruled that settlement applications filed between 01.02.2021 and 31.03.2021 remain valid since the Finance Act, 2021 took effect only on 01.04.2021, preserving vested rights during the interregnum
Delhi High Court held that reassessment notices must be individually evaluated for surviving limitation. AO directed to re-compute limitation under Rajeev Bansal framework before deciding validity.
Delhi appellate authority’s ex-parte confirmation of unexplained money under Section 69A was set aside. ITAT directed CIT(A)/NFAC to adjudicate afresh, granting one final hearing opportunity.
Supreme Court dismissed compensation appeals, holding that accident occurrence alone cannot establish liability. Claimants failed to prove involvement of the offending vehicle or rash driving.
ITAT held that failure to claim TDS credit in the return is only a procedural lapse. Once TDS is reflected in Form 26AS, credit must be granted after verifying corresponding income.
