ITAT Mumbai held that denial of claim of Foreign Tax Credit [FTC] for delayed filing of Form No. 67 not sustainable. Accordingly, order set aside and matter restored to file of AO to verify genuineness of the claim.
ITAT Delhi held that interest income from fixed deposits and loans given to employees is eligible for claiming benefit under section 10AA of the Income Tax Act. Accordingly, AO allowed to claim deduction u/s. 10AA and appeal of assessee allowed.
Allahabad High Court held that filing of Form 10-IC prior to filing of return is not mandatory and if “genuine hardship” is shown then delay may be condoned. Accordingly, delay in filing Form 10-IC condoned and order quashed.
Bombay High Court held that offences under the Bharatiya Nyaya Sanhita, 2023 [BNS] can be recognized as scheduled offences under the Prevention of Money Laundering Act, 2002 [PMLA] without a specific amendment of the PMLA Schedule.
NCLAT Delhi held that no new claims including statutory dues can be allowed post approval of resolution plan. Accordingly, the belated claim of GST department rightly dismissed by the adjudicating authority.
Delhi High Court held that proper opportunity of being heard not got as petitioner was unaware about issuance of SCN which was uploaded on GST portal under ‘Additional Notices Tab’. Accordingly, matter remanded back and order set aside.
Karnataka High Court held that notices or communication issued by department sent to old email address of the petitioner instead of updated email address not justifiable. Accordingly, order not sustained in view of no proper notice and no proper opportunity of fair hearing.
Delhi High Court held that application for de-freezing bank account frozen under the Prevention of Money Laundering Act, 2002 [PMLA] cannot be permitted since the same would risk directly undermining the objectives and framework of the PMLA.
NCLAT Delhi held that claim as a financial creditor of the Corporate Debtor filed after delay of 388 days cannot be entertained post-approval of the Resolution Plan by the CoC with 90.66% majority. Accordingly, appeal dismissed.
CESTAT Kolkata held that charge of clandestine removal and duty demand thereon merely on the loose sheets and pocket dairy without any corroborative evidence cannot be sustained in the eye of law. Accordingly, appeal allowed.
