The Supreme Court stayed the High Court’s conviction order and life sentence, noting ongoing legal proceedings. The ruling ensures interim protection while the matter is examined further.
The court allowed the CBI’s delayed appeal, emphasizing that serious criminal allegations should be examined on merits rather than dismissed on technical grounds. The ruling highlights a liberal approach in condoning delay to ensure justice.
The Court set aside the IGST demand on re-imported goods, holding that liability depends on whether input tax credit was availed. It directed the petitioner to furnish a certificate and allowed fresh adjudication.
The ruling requires authorities to hear and decide delay and stay petitions promptly while suspending recovery proceedings. It highlights procedural fairness in tax disputes.
ITAT Chennai set aside the appellate order and remanded issues on protective addition, Section 54F exemption, and TDS credit mismatch for fresh adjudication.
The Tribunal held that loans received from NBFCs cannot be treated as unexplained where identity, creditworthiness, and genuineness are established. Absence of incriminating material led to deletion of additions.
The issue involved additions based on mismatch between property registration and payment dates. The Tribunal held that delayed encashment of cheques does not indicate unexplained investment. It concluded that the additions lacked factual basis and directed deletion.
The Court stayed reassessment proceedings after constitutional issues were raised. The key takeaway is interim protection when arguable legal questions exist.
The court set aside a GST demand order citing violation of natural justice as no hearing opportunity was given. However, relief was conditional on full deposit due to delay in approaching the court.
The ruling emphasizes that once the Transfer Pricing Officer accepts the arm’s length nature of a transaction, the Assessing Officer cannot question its reasonableness. The disallowance was deleted as the interest rate complied with transfer pricing norms and reflected commercial reality.
