Tribunal held that a provision for bad debts need not be routed through the Profit & Loss account in the first eligible year under Section 36(1)(viia). The disallowance was deleted as the audited statements reflected the provision as on 31.03.2007.
The tribunal held that the resolution plan was invalid because several valuable properties were omitted from the Information Memorandum. The ruling emphasises that all assets must be valued and disclosed, and security interests cannot be extinguished without legal basis.
Tribunal upheld CoC’s power under Section 27 to replace Resolution Professional, ruling that a pending challenge to CoC’s constitution cannot block appointment.
The Court held that assessments under Section 73 without prior Rule 142(1)(A) notices are invalid. Section 61 scrutiny must be completed first, and unsatisfactory explanations require issuance of the notice. The assessments were quashed, and the matter remanded to the proper officer.
The Court held that Section 44AF, as a special provision, overrides the requirements of Section 139(9). It ruled that treating the return as defective was unjustified and directed issuance of the refund.
The Court held that extended pre-trial detention would infringe the petitioner’s constitutional right to speedy trial. It relied on Supreme Court rulings emphasizing the need to avoid prolonged incarceration in documentary-based cases. Bail was therefore granted on strict terms.
The Court held that the appellate authority set aside a refund without proper scrutiny or reasoning. The matter was remanded for fresh consideration on whether the services constituted export or intermediary services.
The Delhi High Court seeks an explanation for why certain GST demands were dropped despite the officer stating disagreement, highlighting procedural inconsistencies in tax assessment.
ITAT Chennai quashed reassessment under Section 147, ruling that reopening based on a change of opinion without new material is invalid.
The Court held that the Petitioner misrepresented the date of receiving the provisional attachment notice. Bank accounts cannot be freely operated, subject to a minimum balance of ₹1 crore.
