The Tribunal held that merely reclassifying a disclosed business loss as speculative loss does not amount to under-reporting. Penalty under section 270A was therefore deleted.
The authority rejected the refund citing non-submission of LUT before export. The court found that the clarification allowing ex post facto LUT was ignored and ordered reconsideration.
The Court held that compounding under the Companies Act requires payment by the concerned officer himself and directed correction of records where a third party had paid.
The dispute centered on whether co-insurance administration fees required tax deduction at source. The Tribunal upheld their allowability without TDS, noting the issue was repeatedly settled in earlier years. The key takeaway is that consistent past rulings in identical facts will be followed.
The court held that cancellation for six months’ non-filing could be revoked where the explanation was genuine. Restoration was allowed subject to strict compliance with return filing and payment conditions.
The High Court declined to entertain a writ petition against cancellation of GST registration as an effective statutory remedy existed. The taxpayer was directed to seek revocation before the proper officer.
The court held that recovery during a valid stay was impermissible after 20% payment. Amount recovered despite stay was ordered to be refunded with interest.
The court held that directors cannot be made liable for company tax dues without specifying gross negligence or breach of duty. Bank account attachments were set aside for non-compliance with statutory conditions.
The Tribunal held that despite repeated notices, interests of justice required another opportunity. The case was remanded for fresh adjudication with costs imposed for prior non-cooperation.
The Tribunal held that notional interest cannot be taxed where sufficient interest-free funds exist and no real income has accrued. The Revenue’s challenge to deletion of interest addition was dismissed.
