ITAT Ahmedabad allows appeal by Digamber Jain Trust, questioning rectification order on unexplained cash deposits for AY 2016-17, due to pending original assessment.
No requirement to prove the irrecoverability of a debt; it suffices if the debt is written off in the books of accounts: ITAT Ahmedabad in Ishan Equipments Pvt Ltd Vs DCIT
NCLAT closes CIRP for Jaypee Healthcare as creditor claims are settled. The tribunal’s order supports final disbursements and halts insolvency proceedings.
ITAT Mumbai rules that shares bought off-market and later sold on stock exchanges with proof of genuine transactions cannot be treated as unexplained income.
Gujarat High Court rules that income tax recovery proceedings cannot proceed while appeals are pending before the CIT(A), impacting numerous taxpayers.
Bombay HC rules in favor of Kusharaj Bhandary, nullifying an assessment and penalty order due to TDS credit error. Outcome highlights rectification rights.
Gauhati High Court addressed the implications of GST return deadlines and extensions in Maina Devi Choraria Vs Union of India.
Gauhati HC quashes AGST order under Section 73 for lack of a valid Show Cause Notice, emphasizing due process and compliance with procedural norms under GST laws.
ITAT Ahmedabad directs AO to reassess Vallabh Pesticides’ loan and credit entries, emphasizing a fresh review of evidence and loan credibility under Section 68.
ITAT Ahmedabad upholds CIT(A)’s ruling dismissing Revenue’s appeal on unexplained cash credits. Genuineness confirmed in remand report for A.Y. 2016-17.
