Bombay High Court held that anticipatory bail application in alleged customs duty evasion case allowed since the applicants have demonstrated their willingness to pursue the statutory remedy of compounding the alleged offence.
Madras High Court held that matter is to be remitted back for fresh orders on merits in view of non-filing of reply and non-attending personal hearing since petitioner has already deposited entire disputed tax for some period and petitioner is further directed to pay 15% of disputed tax for pending period.
Madras High Court held that Look Out Circular [LOC] of person accused in Enforcement Directorate [ED] case is kept in abeyance for specific period and the accused in permitted to travel abroad for undergoing medical treatment.
ITAT Delhi held that cash deposited during demonetization period cannot be added as unexplained cash deposit under section 68 of the Income Tax Act since sufficient explanation of source of cash deposit provided by the assessee. Accordingly, addition deleted and appeal allowed.
NCLT Mumbai held that application for initiation of Corporate Insolvency Resolution Process [CIRP] admissible since default of debt due and payable is established and default is in excess of minimum amount stipulated under IBC.
ITAT Kolkata held that addition towards unexplained money under section 69A of the Income Tax Act cannot be sustained since the cash deposit is already added while filing the return of income under the head other sources. Accordingly, addition set aside and appeal allowed.
ITAT Ahmedabad held that addition under section 69A towards unexplained cash deposit cannot be sustained since it is reasonably explained that deposit is out of its business proceeds. Accordingly, order of CIT(A) set aside and appeal of assessee allowed.
Orissa High Court held that writ petition against assessment order u/s. 147 read with section 144 of the Income Tax Act is not entertained due to availability of alternative remedy. Accordingly, writ dismissed.
Bombay High Court held that combine reading of section 56 and 54(1) of the CGST Act states that interest @9% is payable when amount is not refunded within 60 days from the date of the order passed by the First Authority.
ITAT Chennai held that assessments under section 153C of the Income Tax Act stands vitiated in law since there is complete absence of proper and independent satisfaction as required u/s. 153C. Accordingly, appeal allowed.
