The ITAT held that depreciation on goodwill arising from amalgamation could not be disallowed in subsequent years after it had been accepted in the initial assessment. The Tribunal also dismissed the Revenue’s appeal on CSR deduction under Section 80G.
The Calcutta High Court held that adjusting admitted refunds to recover more than 20% of disputed tax demand during the pendency of appeals was arbitrary and unsustainable. The excess amount was directed to be refunded.
The Calcutta High Court held that recovery exceeding 20% of the disputed tax demand during the pendency of an appeal before the CIT(A) was unsustainable in the absence of exceptional circumstances. It directed refund of the excess amount recovered.
The Calcutta High Court held that adjustment of a tax refund against a disputed demand could not be sustained while the stay application and appeal were pending. It directed release of the refund with statutory interest and restrained coercive recovery until the stay application is decided.
The Tribunal held that the delay in filing the application for regular registration under Section 80G deserved to be condoned due to sufficient cause. The matter was remanded for consideration on merits instead of being rejected solely on limitation.
The Tribunal held that an unsigned loose paper containing only jottings could not justify an addition without corroborative evidence. The addition of alleged interest income was therefore deleted.
The Supreme Court held that under the amended Section 13(8) of the SARFAESI Act, the borrower’s statutory right of redemption ends upon publication of the auction notice. It set aside the High Court’s order quashing the auction sale certificate.
The SC declined to interfere with the High Court ruling that Rule 86A cannot be used to create a negative Electronic Credit Ledger. The judgment clarifies that authorities may recover dues through other statutory remedies.
The High Court held that Rule 86A permits blocking only of input tax credit actually available in the Electronic Credit Ledger. Negative blocking beyond the available balance was declared unsustainable, while preserving the department’s statutory recovery powers.
The ITAT Ahmedabad upheld the disallowance of employees’ PF/ESI contributions deposited beyond the due dates prescribed under the respective Acts. Following binding Supreme Court and Gujarat High Court precedents, the Tribunal held that payment before filing the income tax return does not cure the delay, while remanding the Form 26AS mismatch issue for fresh verification.
