Delhi High Court held that initiation of reassessment proceedings under section 148 of the Income Tax Act liable to be quashed in as much as conditions set out in section 150 of the Income Tax Act not fulfilled.
ITAT Ahmedabad held that tax rate u/s. 115BBE of the Income Tax Act increased from 30% to 60% and the same is applicable only with effect from 1st April 2017 and not prior to the same. Hence, appeal allowed to that extent.
NCLAT Delhi held that belated filing of contingent claims (i.e. claims arising from damages and breach of contract) is rightly rejected by the resolution professional. Accordingly, appeal dismissed.
ITAT Delhi remanded the matter back to the file of AO (TDS) for proper verification of quantum of External Development Charges (EDC) for demand of tax under section 201(1) of the Income Tax Act.
Kerala High Court held that there is no provision in Section 130 of the Goods and Services Tax Act which prohibits the interim release of goods which are detained pending finalization of proceedings under Section 130.
NCLAT Delhi held that after initiation of moratorium under section 14(1) of the Insolvency and Bankruptcy Code, 2016 [IBC], no assessment proceedings can be continued by EPFO. Accordingly, appeal dismissed.
ITAT Ahmedabad restored the matter back to AO for fresh adjudication but imposed cost of Rs. 10,000 for lack of diligence during assessment and appellate proceedings on the part of the assessee.
ITAT Delhi held that transfer of case of the assessee would not be permissible to another Assessing Officer without a decentralization order or transfer order under Section 127 of the Act is liable to be set aside on the ground of jurisdictional error.
Telangana High Court held that sole financial creditor cannot entertain request of One Time Settlement once corporate debtor enters in Corporate Insolvency Resolution Process (CIRP). Accordingly, petition dismissed.
Delhi High Court held that uploading of information by the investigation wing of the Income Tax department would not be a substitute for recording of a satisfaction note by the AO of searched person for handing over material to AO of person other than searched person.
