The Tribunal ruled that the enhanced tax rate under Section 115BBE cannot be applied retrospectively for demonetisation-period transactions. As the tax effect at normal rates fell below the monetary limit, the Revenue’s appeal was dismissed.
The Madhya Pradesh High Court held that income disclosed under the VDIS does not prevent tax authorities from scrutinising returns where material shows higher undisclosed income. Immunity under the Scheme applies only to the income actually declared.
The Bombay High Court held that reassessment proceedings are invalid when notices are issued in the name of an entity that had ceased to exist, rendering the entire assessment void.
The High Court examined whether the borrower was denied the mandatory 30-day period before auction under SARFAESI. Relying on the post-2016 legal position, it held that sufficient time was available and the sale was valid.
The Tribunal quashed excise duty demands after holding that inter-unit clearances were revenue neutral since any duty paid was fully creditable to sister units.
The Tribunal accepted the anti-profiteering report after the respondent agreed to pay ₹67.02 crore to eligible homebuyers. The ruling directs payment within three months along with applicable interest, closing the dispute through an undertaking.
The Tribunal held that allegations of profiteering were not substantiated after detailed verification of records and returns. It concluded that GST liabilities were duly discharged and the complaint was liable to be dropped.
The High Court held that a bank cannot unilaterally reduce the interest rate agreed in a fixed deposit during its tenure. Depositors cannot be penalised for internal errors of the bank.
The judgment reiterates that valuation must comply with statutory rules and cannot hinge on a single third-party transaction. Reassessment contrary to this principle was quashed.
The tribunal remanded the matter after the respondent admitted incorrect figures were submitted earlier, directing reinvestigation so that profiteering is recalculated on correct data.
