ITAT Jaipur held that merely the claim of the assessee was not entertained it cannot be a reason automatically to levy the penalty for misreporting or under reporting of the income. Accordingly, levy of penalty under section 270A of the Income Tax Act set aside.
Calcutta High Court held that allowing application for withdrawal/cancellation of Ex. Bond bill of entry and re-instatement of into-bond bill of entry without referring the provisions of the Customs Act under which the permitted is not justifiable. Accordingly, order set aside.
NCLAT Delhi held that order deserved to be set aside since it is unreasoned order and further reasonable and sufficient opportunity not granted as envisaged in Rule 37 of NCLT Rules, 2016 and hence the same is in violation of principles of natural justice.
NCLAT Delhi held that application under section 7 of the Insolvency and Bankruptcy Code [IBC] is duly admissible since default occurred subsequent to section 10A period. Accordingly, order upheld and appeal dismissed.
ITAT Delhi held that addition towards accommodation entry and bogus capital gain exemption upheld since the shares were purchased in off market mode. Accordingly, appeal of revenue allowed.
Kerala High Court held that interest is admissible to the taxpayer in case of refund under Direct Tax Vivad Se Vishwas Act, 2020. Accordingly, writ appeal of the revenue fails and the same is dismissed.
Delhi High Court held that consideration for the resale/use of computer software through EULAs/distribution agreement is not Royalty for the use of copyright of the computer software and hence doesn’t give rise to any taxable income in India.
Punjab and Haryana High Court held that freezing of bank account by Enforcement Directorate [ED] without following procedure prescribed under section 17(1-A) of the Prevention of Money Laundering Act [PMLA] is unlawful. Accordingly, petition stands disposed of.
CESTAT Hyderabad held that section 17(4) of the Customs Act is not made for reopening or reviewing any issued final assessment order. Thus, adjudicating authority not empowered to review his final assessment order without statutory appeal.
Gauhati High Court observed that cancellation of GST registration u/s. 29(2)(c) of the CGST Act entails serious civil consequences. Hence, petitioner is given opportunity to furnish all the pending returns and accordingly, GST registration will be restored.
