Bombay High Court held that directors cannot escape personal criminal liability for dishonoured cheques even if the company is under insolvency proceedings.
Tribunal admits CIRP against Bafna Motors Pvt. Ltd., ruling that post-10A period defaults exceeding the statutory threshold merit insolvency proceedings, with final claim verification to be done by IRP.
Bombay High Court ruled that GST returns are protected under Section 158 of GST Act and cannot be disclosed under RTI, emphasizing mandatory third-party notice under Section 11.
The ruling reinforces that Section 80P(4) bars co-operative societies from claiming deductions on income from co-operative banks, even if registered under the Co-operative Societies Act.
ITAT Visakhapatnam remitted the appeal back to the CIT(A) after an ex-parte order, emphasizing need for assessee’s opportunity to be heard in a case involving protective additions under Section 68.
ITAT Kolkata ruled that a Section 148 reassessment notice issued to Sulochana Devi Bagaria, who had died before the notice date, was bad in law.
Income Tax Appellate Tribunal (ITAT), Kolkata Bench, dismissed an appeal filed by the Income Tax Officer (ITO) against Rashi Impex Pvt. Ltd. for Assessment Year 2010-11.
The tax appellate authority dismissed the appeal of Tangerine Design Private Limited (AY 2018-19) on the disallowance of late employee EPF/ESI contributions.
The tribunal remanded the appeal to the Commissioner after the penalty for furnishing inaccurate particulars was affirmed. The assessee is now granted a fresh opportunity to submit documents and respond, ensuring substantial justice.
ITAT Nagpur set aside a tax addition of ₹15 lakh under Section 68 against Annuva Infrastructure Pvt. Ltd., ruling that the company had sufficiently discharged its burden by providing comprehensive documentation, including bank statements and confirmations, to prove the share capital transaction was genuine.
