ITAT Hyderabad held that failure of the Assessing Officer to examine ownership of multiple houses while allowing Section 54F deduction made the order erroneous and prejudicial. The matter was remanded for fresh adjudication.
The Tribunal upheld deletion of addition under Section 68, holding that reliance on an investigation report without independent verification and without disproving documentary evidence cannot sustain bogus LTCG allegations.
The Kerala High Court set aside composite notices issued under Sections 73 and 74 of the CGST/SGST Act for multiple assessment years. It held that such notices prejudice taxpayers and exceed statutory authority.
The High Court quashed an assessment order passed without granting personal hearing despite a written request. It held that refusal on technical grounds violated principles of natural justice.
The Court ruled that excise duty refund received under an incentive scheme was a capital receipt and not taxable. It also rejected reduction from the block of assets.
The High Court set aside a GST order confirming ITC demand under Section 74 as the authority failed to consider the petitioner’s defence based on IBC moratorium. The matter was remanded for fresh hearing.
The Court found inconsistency in the service date of the show cause notice and held that no proper opportunity of hearing was given. The matter was remanded for fresh adjudication.
The High Court dismissed the appeal holding that stock statements forming the basis of overdraft drawing power could not be disowned without contrary evidence. Addition was sustained after opportunities were granted to disprove the statements.
The Court set aside the Section 197 order holding that distribution fees were treated as royalty without concrete reasoning. It directed issuance of a NIL tax withholding certificate.
ITAT Mumbai held that reassessment beyond three years is invalid if approval is not obtained from the specified higher authority under Section 151(ii). The notice under Section 148 was declared void ab initio.
