The Bombay High Court rules that a person’s right to travel abroad cannot be restricted solely because of a pending tax prosecution, citing it as a fundamental right.
The Income Tax Appellate Tribunal (ITAT) Pune has ruled in favor of an assessee, Sonal Ashish Shah, reversing an addition made by the Income Tax Officer (ITO) on the sale of shares in Blazon Marbles Limited, an alleged penny stock company.
Madras HC declines to interfere in confiscation of Indian buffalo meat export, allowing petitioner to pursue appeal before Customs Appellate Authority.
The NCLAT Delhi reversed a lower court’s refusal to extend the CIRP for Torque Automotive, granting a 45-day final extension to allow the Committee of Creditors to finalize a resolution plan, prioritizing a corporate debtor’s revival over liquidation.
Delhi HC has directed Ahlcons India Pvt. Ltd. to file an appeal with CESTAT, limiting pre-deposit amount and raising questions about re-confirming previously dropped demands.
CESTAT rules on S. Kantilal & Company’s appeal, setting a legal precedent that redemption fines cannot exceed the market value of mis-declared goods.
The Income Tax Appellate Tribunal (ITAT) in Cochin has ruled that voluntarily disclosing additional income after a search notice does not automatically justify a penalty under Section 271(1)(c) of the Income-tax Act, 1961.
The ITAT Delhi has held that purchasing a residential plot and subsequently constructing a house on it fulfills the conditions for capital gains exemption under Section 54F of the Income Tax Act.
The ITAT Delhi has set aside a penalty imposed on a taxpayer, ruling that penalties cannot be levied on additions to income that are based on estimation. This decision follows a precedent in the same case.
In the case of Mobis India Limited vs. Principal Commissioner of Customs, the Madras High Court set aside a Tribunal’s order that rejected an appeal due to a 145-day delay.
