ITAT Kolkata held that once a scrutiny notice under Section 143(2) is issued, CPC cannot process the return under Section 143(1) and quashed the intimation.
The Tribunal held that interest under Section 27A was payable because the refund of Extra Duty Deposit was not released within three months after the refund-determining orders. It ruled that delay in payment attracted statutory interest despite prolonged litigation.
Raj Krishan Gupta Vs ACIT (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT), Delhi, partly allowed the assessee’s appeal against the order of the Commissioner of Income Tax (Appeals) for Assessment Year 2015-16. The appeal involved denial of deduction under Sections 54/54F, addition under Section 56(2)(vii), and disallowance of indexed cost of acquisition. The assessee […]
The ITAT deleted an addition relating to an NRE account after finding that the credits were linked to overseas salary remittances and lacked evidence of unexplained income. It remanded the larger addition for fresh verification due to inadequate SFT reconciliation.
The Karnataka High Court held that Input Tax Credit could not be denied merely because GSTR-2A did not reflect imports and SEZ procurements during FY 2018-19. It quashed the ITC demand and remanded the remaining GST issues for fresh adjudication.
The ITAT held that Section 154 cannot be used to examine issues requiring detailed inquiry, and therefore quashed the rectification seeking disallowance of directors’ bonus. The appeal was allowed.
The ITAT Kolkata held that the reassessment was invalid because the statutory notice under Section 143(2) was issued by an Assessing Officer lacking pecuniary jurisdiction. Having quashed the reassessment on jurisdictional grounds, the Tribunal did not examine the merits of the Section 68 addition.
The NCLT noted that all shareholders of the Transferor Company and a substantial majority of unsecured creditors had consented to the Scheme. It allowed the application subject to issuance of notices and compliance with statutory directions.
The CESTAT Mumbai held that services relating to outbound tours conducted entirely outside India were not liable to service tax under the Finance Act, 1994. It concluded that journeys commencing and ending outside India fell outside the statutory charging provisions.
The High Court granted bail in a GST ITC fraud case after noting that the accused had remained in custody for about four months and the evidence was primarily documentary. The Court found no material indicating a likelihood of evidence tampering or non-cooperation with the trial.
