ITAT Kolkata rules in favor of Cygnus Developers, accepting share application money as genuine, citing investor company tax assessments and judicial precedents.
Telangana High Court dismisses a bookie’s appeal, affirming a Rs. 1 lakh penalty for failing to audit accounts despite a high turnover, rejecting contradictory claims.
ITAT Bangalore allows Section 54F deduction for Ramaiah Dorairaj, ruling that direct investment in a new house within the period overrides non-deposit in Capital Gains Scheme.
Delhi High Court dismisses plea against GST Circular 80/54/2018, citing a prior ruling that already set aside the disputed clarification on product classification.
ITAT Mumbai rules in favor of Cable and Wireless, holding that allocating shared employee costs based on headcount is a valid method, overturning the tax officer’s order.
NCLAT Delhi rules on Uttam Galva Steels case, disallowing joint operational creditor applications and lawyer issued demand notices under IBC.
Mumbai ITAT allows full depreciation for New Rampgreen Technologies, citing asset ownership date. It also voids the reassessment, holding that the tax audit report was already with the AO, preventing a ‘change of opinion’ based reopening.
Karnataka High Court set aside proceedings in a PDS rice seizure case, ruling police lacked jurisdiction for search and seizure under Essential Commodities Act.
The Income Tax Appellate Tribunal (ITAT) has remanded a case involving Shree Bhandari Gnyati Mandal, challenging the denial of 80G registration. The ITAT directs re-verification of the trust’s expenditure on religious activities.
The Delhi High Court has ruled a GST demand order against a deceased proprietor invalid, mandating show cause notices be issued to legal representatives for tax determination.
