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.
Builders under the 1%/5% GST regime must still meet the 80% registered procurement rule. Non-compliance attracts cash RCM liability without ITC benefit.
The High Court held that a reassessment notice issued without a manual or digital signature violates Section 282A of the Income-tax Act. Such an unsigned notice is invalid in law, rendering all consequential proceedings unsustainable.
The Tribunal found that the AO had examined land records, crop sale documents, and other evidence before making the assessment. Since due inquiry was conducted, the assessment order was neither erroneous nor prejudicial to revenue.
The 2026 regulations replace the old FEMA framework and tighten oversight of guarantees. The key takeaway is clearer eligibility, reporting, and risk control.
