Tribunal held that omission to mention the exact charging provision did not vitiate the assessment where unexplained cash and bullion were clearly established. Relief was granted only for the cash supported by contemporaneous records.
The NCLT held that partial repayments do not wipe out a financial default once the debt has become due and remains unpaid. Finding financial debt and default established, it admitted the Section 7 insolvency application and initiated CIRP.
The Gauhati High Court set aside a provisional bank account attachment after finding that the authority failed to form the mandatory opinion required under Section 83 of the CGST Act. The Court held that a mechanical attachment order is not legally sustainable.
The ITAT Nagpur held that an incorrect section code selected in Form 10AB was a technical and bona fide clerical mistake. Since the trust’s charitable activities and documents were found genuine, registration under Section 12AB could not be denied.
The ITAT held that non-reporting of capital gains from redemption of mutual funds amounted to underreporting resulting from misreporting of income. It upheld the penalty under Section 270A after finding failure to record receipts affecting total income.
The High Court refused to entertain the writ petition, holding that disputes over an SEZ IGST refund should be examined by the appellate authority. It permitted the petitioner to pursue the statutory appeal with all available grounds.
The High Court granted regular bail in a GST fraud prosecution after noting that the investigation had been completed, the complaint had been filed, and charges had already been framed. It held that the allegations would be tested during trial and that prolonged custody was not warranted at that stage.
The High Court held that a taxpayer whose GST registration was cancelled for non-filing of returns may seek restoration by complying with Rule 22(4) of the CGST Rules. It directed the authority to consider restoration expeditiously upon filing pending returns and payment of all outstanding dues.
ITAT Chennai held that unrealizable assets of a company under insolvency could not be included while computing fair market value under Rule 11UA. The Tribunal directed recomputation using the NCLT auction price instead of the artificial valuation adopted by the AO.
ITAT Delhi held that the CIT(A) validly remanded a best judgment reassessment after repeated non-compliance by the assessee. The Tribunal ruled that the proviso to Section 251(1)(a) empowered the appellate authority to order a fresh reassessment.
