The issue was whether stamp duty value as on registration could override actual consideration received earlier. The Tribunal held that section 50C is a machinery provision and cannot be applied mechanically to post-transfer market increases.
The court ruled that a CBIC circular on deemed exports cannot block ITC refunds for actual exporters. Refunds under Section 54(3) must follow the statute when no deemed export benefits are claimed.
The Tribunal held that incorrect selection of a clause in Form 10AB is a curable clerical mistake. Registration applications cannot be rejected without examining the trust’s objects and activities on merits.
The article explains that once fraud-based proceedings fail, demands cannot be revived under Section 73 if limitation has expired. Statutory time limits remain mandatory and jurisdictional.
ITAT Delhi ruled that expiry of limitation only bars recovery and does not extinguish the debt itself. Outstanding loans remain liabilities unless expressly waived by lenders.
The court held that tax liability cannot be increased at the appellate stage on a new ground without giving the assessee an opportunity of hearing. Enhancement without following Section 107(11) was set aside and remanded.
The Tribunal ruled that the Assessing Officer could issue a reassessment notice only within the balance days available after excluding the stayed period. Issuance beyond that surviving window renders the notice time-barred.
ITAT Delhi ruled that granting a common approval for several assessment years violates statutory safeguards. Search assessments collapse if approval is mechanical or omnibus in nature.
The GSTN now allows hotels to declare premises as “specified” online, determining whether restaurant services attract 18% GST with ITC or 5% without ITC. The move streamlines compliance and clarifies premises-wise classification.
The Tribunal ruled that registration cannot be cancelled for non-maintenance of separate books when that allegation was never put to the assessee. Authorities must specify the exact clause of specified violation relied upon.
