The court held that once late fee is imposed for delayed annual return filing, a further general penalty is not permissible. Section 125 applies only where no specific penalty exists.
The Tribunal held that land cost must be allocated based on saleable/built-up area under the JDA, not total land area. It directed adoption of a higher per-sq-ft land cost while recomputing capital gains.
The Tribunal held that assessments under Section 153A cannot be sustained when no incriminating material is found at the assessees premises. Additions based on third-party material were quashed as being without jurisdiction.
The Supreme Court upheld that mere excess stock found during inspection is insufficient for confiscation under Section 130. Tax must be assessed through Section 35(6) read with Sections 73 or 74, ensuring due process.
The Tribunal ruled that treating a belated return as non est is legally unsustainable. Absence of a Section 143(2) notice invalidates the entire reassessment proceedings.
Payments to AwasBandhu were allowed as application of income. The Tribunal held such statutory contributions further public purposes and cannot be treated as non-business or taxable expenses.
The Tribunal held that cash advances/on-money received for an ongoing real estate project cannot be taxed before completion when the Project Completion Method is consistently followed. Income already offered and accepted in the completion year cannot be taxed again earlier.
The GST Appellate Tribunal accepted the DGAP report after finding no profiteering under Section 171 of the CGST Act. With no appearance from the complainant, the proceedings were concluded and the case was disposed of.
The GST Appellate Tribunal held that the profiteering amount must exclude benefits already passed on to home buyers. The respondent was directed to refund the net amount with interest to eligible buyers within three months.
The ruling confirms that dehydrated dark seedless raisins fall under CTI 08062010. The key takeaway is that dried seedless grapes retain their essential character as raisins for customs purposes.
