CESTAT ruled that transaction value supported by final invoice and BRC must be accepted for export duty finalization, overriding CRCL report on moisture content. set aside a Customs order, confirming that the actual transaction value realized for iron ore exports must be used for final duty assessment.
NCLAT dismissed PNB’s insolvency plea against Concast Morena as time-barred, ruling that a pending recovery case in DRT doesn’t qualify for Section 14 exclusion. the rejection of a bank’s Section 7 petition, stating the application was time-barred and the RDDB Act recovery suit didn’t reset the deadline.
ITAT deleted a penalty under Section 271(1)(c), ruling the AO failed to levy the correct charge (concealment vs. inaccurate particulars), making the penalty unsustainable. finding the AO charged the assessee with concealment of income when the facts indicated furnishing inaccurate particulars.
ITAT directed the CIT(E) to grant Section 12AB registration, ruling that mere land purchase is a preparatory step and not the commencement of charitable activities, the cancellation of a trust’s provisional registration, stating that technical errors and land acquisition cannot justify denying charitable status.
ITAT Mumbai set aside a ₹74 lakh unexplained investment addition, remanding the case to the AO after finding the AO ignored evidence and based the addition on an incorrect loan amount.
NCLAT Delhi dismisses appeals by personal guarantors against Bank of Baroda, upholding NCLT’s direction for the bank to allow inspection of lending documents.
CESTAT Bangalore ruled Section 113(h)(i) of Customs Act applies only if goods are entered for export. Shortage due to EOU’s clerical error not liable for confiscation. citing a clerical error and not a deliberate mis-declaration or illicit DTA clearance.
ITAT restored a trust’s 80G approval rejection, directing the CIT(E) to accept the application based on a CBDT circular extending the filing deadline and allowing clause correction. The ITAT ruled that a charitable trust can correct an error in its 80G application and confirmed that the filing deadline was extended by a subsequent CBDT circular.
CESTAT confirmed a Service Tax demand, ruling that a service provider’s failure to explain a large discrepancy between ITR and ST-3 returns justifies the tax liability.
ITAT Amritsar condoned the 146-day delay in a senior citizen’s appeal, accepting passport evidence of her absence from India as sufficient cause, and remanded the case for fresh assessment.
