CESTAT Bangalore held that the quantity of crude oil actually received into a shore tank in a port in India should be the basis for payment of customs duty. Thus, customs duty needs to be calculated based on crude oil received in shore tank.
Punjab and Haryana High Court held that disciplinary action taken district judge based on the material is not merely on basis of inference hence writ dismissed stating that there is no scope for interference in the opinion formed by the disciplinary authority.
ITAT Kolkata held that addition under section 68 of the Income Tax Act as unexplained cash credit not sustainable since identity, creditworthiness and genuineness of the transaction relating to the share capital sufficiently established.
Madras High Court held that as per rule 86A(3) of the Central Goods and Services Tax Rules, 2017 [CGST Rules] blocking of input tax credit available in electronic credit ledger lapses after a period of one year from the date of blocking.
ITAT Delhi held that initial transaction of demerger of Passive Infrastructure Assets [PIAs] without any consideration qualifies as gift is already affirmed by the Hon’ble Delhi High Court while approving the demerger scheme.
Delhi High Court allowed the petition for waiver of mandatory pre-deposit under section 35F of the Central Excise Act, 1944 since demand qualifies the test of rare and exceptional case. Thus, writ allowed.
NCLAT Delhi held that the pendency of proceedings before the NCLT for approval of the scheme of arrangement does in no manner either shall suspend the default committed by the Corporate Debtor or preclude the Financial Creditor to proceed with Section 7 application.
According to the PCIT the quantum of disallowance as per Rule 8D works out to 1,98,36,285/- as against which the AO made disallowance of Rs. 86,88,523/- which has resulted into under assessment of income.
NCLAT Delhi held that post approval of resolution plan Non-Fund Based [NFB] agreement has to be read in a manner to give effect to the resolution plan and not to make any clause of resolution plan otiose and unworkable.
Delhi High Court held that arrest of petitioner involved in availment of input tax credit against fake invoice illegal and set aside the remand order since various discrepancies were noticed in arrest procedure followed by the department.
