The Madras High Court held that an investment company’s interest disallowance under Section 36(1)(iii) was invalid as it followed a cash system of accounting. The Tribunal’s deletion of the addition was upheld, confirming that matching principles are not applicable under cash-based accounting.
The High Court set aside a tax demand that exceeded the amount stated in the show-cause notice, holding it violative of Section 75(7) of the GST Act. The matter was remanded for fresh adjudication.
The Court held that authorities failed to conduct basic enquiries before alleging reuse of transport documents. The seizure and appellate orders were quashed as unsustainable.
The Delhi High Court held that freezing of a company’s bank accounts without a proper investigation violated natural justice. Interim relief allowed the petitioner to operate accounts while maintaining a minimum balance.
The Court found the appellate authority’s rejection of delay condonation mechanical and set aside the cancellation order, allowing revival upon fulfilling conditions.
Tribunal ruled that confiscation cannot be sustained when goods were re-exported before Revenue’s appeal, restoring the original order.
The Court set aside the GST demand after finding that the show cause notice and order lacked reasons and no meaningful opportunity of hearing was provided.
The AO’s assessment included detailed examination of depreciation, warranty provisions, and Section 80G deductions for CSR donations. ITAT Ahmedabad found that the AO’s conclusions were plausible and in line with judicial precedents. The revisionary order under Section 263 was quashed, affirming that the AO’s order was not erroneous or prejudicial to Revenue.
The Court quashed multiple notices and assessment orders for AY 2018-19, holding that procedural requirements under Section 151A were not met, while preserving Revenue’s right to revive proceedings.
The Court held that income of Associations of Persons or syndicates cannot be combined with members’ income. Petitions challenging this were dismissed, confirming separate taxation.
