ROC Chennai held that delayed filing of Form MGT-14 for Board resolutions approving accounts constituted non-compliance under Section 117(1). Monetary penalties were imposed on both the company and officers in default.
The Bombay High Court quashed a GST registration cancellation order after finding that the show cause notice contained no reasons. The Court held that orders lacking reasons violate principles of natural justice and are legally unsustainable.
ROC Chennai penalised a company and its directors for non-filing of Form MGT-7 for FY 2022-23, holding the default violated Section 92(4) of the Companies Act.
ITAT Mumbai held that a company engaged in publishing platforms, software solutions, and product development could not be compared with a limited-risk captive ITES service provider. Exclusion of the comparable eliminated the transfer pricing adjustment.
The CESTAT Mumbai held that placement fees collected from students by educational institutions are not taxable under manpower recruitment service. The Tribunal ruled that no consideration flowed from employers, which is essential under the charging provision.
Tribunal found the DRP’s order cryptic and lacking proper analysis on similarity of business activities between the assessee and selected comparables. Fresh examination was directed regarding comparability and ALP computation.
CESTAT Mumbai held that recovery proceedings and penalty were unsustainable where inadmissible CENVAT credit was reversed before issuance of notice and remained unutilised due to sufficient credit balance.
The ITAT Surat held that bank transactions reflected cheque discounting business activity and could not be fully treated as unexplained cash credits under Section 68. Only estimated commission income and profit were sustained.
Assessee argued that conclusions drawn from a 2005 survey on liaison offices could not be applied mechanically to later branch office structure. ITAT directed fresh examination of branch office’s actual functions and activities.
ITAT ruled that although LTC exemption involving foreign travel stood disallowed by SC, such judgment could not retrospectively impose TDS default liability for periods covered by judicial interim protection.
