ITAT Delhi held that the assessment order was invalid as it was not served in accordance with Section 282 and Rule 127. In absence of proof of proper service within limitation, the entire assessment was quashed as void.
The Tribunal found that advances of ₹50 lakh each were duly recorded, confirmed, and repaid. With no unexplained credit involved, the addition of ₹90 lakh was deleted and the appeal allowed.
Holding that the search team did not examine the source of cash properly, the Tribunal directed bifurcation of penalty—30% on declared income and 60% on unexplained income.
The Tribunal held that the scope of enquiry at the registration stage is limited to objects and genuineness of activities. The application was remanded after the trust undertook to delete clauses permitting overseas fund use.
The Calcutta High Court set aside the Single Judge’s order quashing a provisional attachment, holding that the matter had become academic after confirmation under Section 8(3) of the PMLA. The Court emphasized that parties must pursue statutory appellate remedies.
Jharkhand Gramin Bank has announced empanelment of retired Scale II–V officers for contractual concurrent audit roles. The engagement is for three years with defined eligibility conditions, remuneration options, and region-wise postings across Jharkhand.
The Court partly allowed the writ petition, noting that the petitioners claim was found genuine upon verification. Authorities were directed to reconsider restoration of GST registration from the original date.
Observing that the assessee invested the entire share of sale proceeds within two years and obtained possession, ITAT Pune allowed Section 54B exemption. The addition under Section 69A was consequently deleted.
Even though the form was auto-approved under STP mode, the adjudicating authority imposed penalty for inaccurate disclosure. Responsibility for correctness rests with the digital signatory.
ROC Kolkata imposed penalties under Section 172 after a public company failed to fill a Woman Director vacancy within the prescribed three-month period, resulting in 18 days of non-compliance.
