The court directed implementation of an Order-in-Appeal allowing the release of gold upon payment of a reduced redemption fine and penalty of ₹35,000 each.
The ITAT Ahmedabad remanded the addition of ₹1.77 Cr as unexplained cash credit, directing the Assessing Officer to verify evidence, including the assessee’s claim of exempt agricultural income.
Orissa High Court directs GST authority to first assess the maintainability and merits of an application seeking rectification of a show cause notice under Section 161.
The High Court found the accused’s claims of illegal arrest and lack of police procedure compliance to be incorrect and rejected the bail application due to the magnitude of the alleged fraud.
Allahabad High Court set aside the penalty order (GST MOV-09) against M.D. Traders, ruling that the penalty for a missing e-way bill, when a tax invoice is present, must be determined under Section 129(1)(a) of the GST Act, not 129(1)(b).
ITAT Chennai held that mere CRS data without corroborative evidence cannot justify taxing balances in foreign trusts as undisclosed assets when the assessee has not contributed funds or derived income.
Bombay High Court ruled that transferring a taxpayer’s case is unnecessary when assessment for relevant year has already been finalized, quashing earlier impugned order.
ITAT Jaipur held that Rs. 8.9 lakh surrendered during a survey and included in books as business income cannot be taxed under section 69C or 115BBE of Income Tax Act.
The High Court held that a later Supreme Court judgment cannot justify invoking Section 254(2) to modify an ITAT order passed according to the prevailing law.
The Bombay High Court held that when sales are accepted, entire bogus purchases cannot be added; only profit difference is taxable in the case of traders.
