The ITAT Delhi held that an interest-bearing loan can still be taxed as deemed dividend where all statutory conditions under Section 2(22)(e) are satisfied. Repayment of the loan did not alter its tax treatment.
The Madras High Court held that a show cause notice and assessment order issued in the name of a deceased proprietor are void. The order was quashed, with liberty granted to proceed against legal heirs according to law.
The Court granted bail after noting that the principal material against the applicants consisted of confessional statements and statements of co-accused persons. Charge sheets had already been filed in the cases.
The Karnataka High Court directed that a fresh refund application be treated as filed on the date of the original application. The period spent addressing repeated deficiency memos was excluded for limitation purposes.
The Assessing Officer examined the audited books, balance sheet, and supporting records but did not identify any discrepancy or reject the accounts. ITAT held that, in such circumstances, invoking Section 115BBE was unsustainable.
The Court declined to entertain the writ petition challenging a GST show cause notice and adjudication order, holding that the petitioner had an effective appellate remedy under Section 107 of the CGST Act.
The Court held that an Assessing Officer’s quasi-judicial decision cannot attract disciplinary action merely because another view was possible. Absence of mala fides or lack of integrity defeated the misconduct charge.
The Court held that cancellation of GST registration for procedural non-compliance should not permanently deprive a taxpayer of business operations when the defaults can be remedied through statutory compliance.
The Tribunal admitted lenders’ tax returns and bank statements and remanded the Section 68 issue for fresh examination. The matter was sent back for verification of identity, creditworthiness and genuineness.
The Tribunal held that property investment funded through documented foreign remittances from the assessee’s husband could not be treated as unexplained. Bank records and remittance confirmations established the complete source of funds.
