The High Court refused to examine the merits of the GST assessment challenge due to delay in approaching the Court. The petitioner was instead granted liberty to file a statutory appeal with a delay condonation request.
The High Court dismissed a writ petition challenging a service tax order due to an inordinate delay of nearly four years. The Court held that the petitioner could still pursue any statutory remedy available under the Finance Act, 1994.
Bangalore ITAT held that unsigned loose sheets, scribblings, and rough jottings without corroborative evidence cannot form the sole basis for tax additions. The Tribunal deleted the protective additions linked to alleged capitation fee receipts.
The Tribunal ruled that surplus funds parked in banks by a co-operative credit society retain the character of business income when linked to member credit activities. Deduction under Section 80P(2)(a)(i) was therefore allowed.
Bangalore ITAT held that interest paid on a housing loan can be treated as part of the cost of acquisition where no deduction was claimed under house property income. The Tribunal directed the AO to allow indexed benefit on such interest expenditure.
Mumbai ITAT held that once receipts reflected in Form 26AS are assessed as taxable income, corresponding TDS credit cannot be denied on technical grounds. The AO was directed to verify records and grant due credit.
Indian Overseas Bank invites applications from eligible CA firms for concurrent audit empanelment for 2026-27. Apply online by June 10, 2026.
