Madras High Court held that passing of order of detention in Form GST MOV-09 beyond time limit stipulated under section 129(3) of the Central Goods and Services Tax Act unjustified. Accordingly, detention held to be invalid.
ITAT Ahmedabad held that the interest earned on the investment made with the Coopearitve Society which was carried out the banking business is eligible for deduction under section 80P(2)(d) of the Income Tax Act.
NCLAT Delhi held that admitting application under section 7 of Insolvency and Bankruptcy Code, 2016 for initiation of CIRP for default in not completing project and handing over units within time justified.
Supreme Court held that refund of 100% court fees granted as the amount of court fees involved was not excessive and the dispute was resolved amicably by mediation under section 89 of the Code of Civil Procedure 1908 [CPC].
It would be unjust to deny benefit to petitioner merely because petitioner filed return prior to the issuance of amnesty notification dated 31.03.2023, confined to amnesty only to those who filed return between 01.04.2023 and 30.06.2023.
NCLAT Delhi held that imposition of 5% penalty on average turnover/ receipt related to EWS by Competition Commission of India [CCI] under section 27 of the Competition Act, 2002 cannot be termed as unreasonable or excessive.
CIRP against the Corporate Debtor commenced vide order dated 09.04.2024. On 17.04.2024, Resolution Professional issued public announcement calling upon creditors to submit their claims.
AO, based on the information, found that both suppliers were subject to proceedings and were found guilty of economic offenses punishable under the relevant CGST Act, 2017, and KGST Act, 2017.
The notice u/s. 148A(b) of the Income Tax Act, 1961 was issued to the assessee, along with the notice reasons recorded for reopening assessment were also supplied to the assessee.
Held that the shareholding of the assessee (voting right) has continued to remain not less than 50% as prescribed in clause (b) of proviso to 47(xiv) of the Act, even after issuing of new shares by the above said company.
