Delhi High Court dismissed a writ petition, directing taxpayers to approach the appellate authority as an alternate remedy in cases of fraudulent availment of Input Tax Credit, emphasizing proper legal recourse.
ITAT Mumbai ruled that the PCIT rightly invoked revisional powers under Section 263 as the assessment order showed lack of proper inquiry, upholding the revision.
Gujarat High Court ruled that reassessment under Section 148 issued after the permissible time period is invalid, quashing the notice and allowing the writ petition.
Delhi High Court ruled that the Supreme Court’s suo motu Covid orders extending limitation periods apply to PMLA cases, as the Act contains no express exclusion.
Gujarat High Court held that reversing the order sanctioning refund not justified since evidences placed on records are not considered and further petitioner has duly complied with provisions of rule 89(2)(c) of the GST Rules. Accordingly, petition is allowed and order is quashed.
ITAT Agra held that amount deposited during demonetization period cannot be treated as unexplained income since the amount is deposited out of genuine cash sales. Accordingly, appeal of revenue dismissed.
ITAT Chennai held that reassessment notice issued by the Jurisdictional Assessing Officer post Faceless Assessment instead of National Faceless Assessment Centre is void and invalid. Accordingly, appeal is allowed.
Ahmedabad ITAT rules in Naman Vidyapati Patel Vs PCIT that the cancellation of a land deal and refund of received amounts, even post-search, negated the claim of unaccounted income, quashing the PCIT’s revision order under Section 263.
ITAT Mumbai held that discount on issue of Employee Stock Option Plan [ESOP] is allowable as deduction in computing income under the head profits and gains of the business. Accordingly, appeal of revenue dismissed and order of CIT(A) upheld.
Bombay High Court held that invocation of provisions of Rule 86-A of the Central Goods and Services Tax Rules, 2017 and blocking of Input Tax Credit not justified since Input Tax Credit available in Electronic Credit Ledger was ‘NIL’. Accordingly, petition is allowed.
