Delhi High Court reduced the pre-deposit amount bearing in mind the financial constraints and held that the question as to whether the imported components constituted E-Rikshaw themselves shall also be adjudicated by the CESTAT. Accordingly, writ disposed of.
In the present cases, the respondents in the first batch of cases being non-resident assessees engaged in the business of exploration in terms of Section 44BB of the Income Tax Act, 1961, are eligible assessees within the meaning of Section 144C.
CESTAT Chennai held that merely stating the probability of revenue succeeding in their appeal, is a bald statement which cannot be stated to be a reasonable plea for granting stay of order. Hence, stay not granted since sufficient cause not shown.
Supreme Court held that Framework for Revival and Rehabilitation of Micro, Small and Medium Enterprises does require MSME to notify the lending bank by producing authenticated and verifiable documents/material to show its eligibility to get the benefit of the said Framework.
Considering that the matter is at the stage of framing of charge and the trial has to begin, the Court is not passing any observation in this regard. However, for the purposes of this assessment, these set of circumstances do not persuade the Court that ECIR needs to be quashed.
Chhattisgarh High Court held that the petitioner would not be entitled for Input Tax Credit [ITC] to electrical energy consumed for maintenance of its township since it is not in the course or furtherance of business in terms of section 2(17) r.w.s. 16(1) of the CGST Act.
Bombay High Court held that in absence of express authorization, thus service upon the Chartered Accountant [CA] do not absolve the Tribunal of serving the copies of the order upon the assessee. Thus, appeal allowed and delay condoned.
CESTAT Delhi held that ‘paytm’ soundbox is primarily meant to work with 2G device and not 4G LTE complaint device hence eligible for concessional rate of 10% basic customs duty [BCD] vide notification no. 57/2017 dated 30.06.2017.
ITAT Surat held that addition of unexplained stock as unexplained investment u/s. 69 of the Income Tax Act upheld due to claim of closing stock was not supported by any verifiable evidences. Accordingly, ground of appellant dismissed.
NCLT Delhi held that Fixed Deposit Receipts FDRs standing in the name of the Corporate Debtor constitute financial assets and form an integral part of the Corporate Debtors estate. Thus, resolution professional is directed to approach concerned bank and request defreezing of FDRs to ensure control over the same.
