NCLAT dismissed an application seeking to deposit ₹15.62 crore to demonstrate bona fides and stay judgment, holding that once a matter is reserved for judgment, no rights or proceedings remain pending between the parties.
Madras HC rules contractor cannot defer GST payment due to non-reimbursement by govt client, but grants relief allowing payment in eight equal monthly installments.
While upholding part of addition under Section 2(22)(e), ITAT Mumbai directed Assessing Officer to restrict deemed dividend amount only to extent of accumulated profits of lending company.
ITAT Mumbai dismisses Revenues appeal, ruling that Goodwill from a High Court-approved amalgamation is a depreciable intangible asset under Section 32, rejecting the claim that it represents non-depreciable land value.
Court ruled that writing off bad debts in balance sheet and profit and loss account is sufficient under Section 36(1)(vii), clarifying that closing each debtor’s ledger account is unnecessary.
ITAT Surat rules company’s capital contribution to a partnership firm for business purposes is not a loan or advance, thus escaping deemed dividend tax u/s 2(22)(e).
ITAT Mumbai condoned a 388-day delay and remanded the case of Dahisar Gramin Bigar Sheti Sahakari Pat to the Assessing Officer to verify ₹29.46 lakh in cash deposits claimed to be received from members during demonetisation, directing a fresh assessment after fair hearing.
The Income Tax Appellate Tribunal (ITAT), Pune, in Mahendra Prakash Pawar Vs ITO, deleted an addition of ₹21.69 lakh made under Section 69C for unexplained credit card payments. The court accepted the assessee’s explanation that cash deposits came from his brother’s transportation business for fuel purchases.
While upholding validity of an unsigned GST order accompanied by DRC-07, Delhi High Court quashed rectification order passed without giving taxpayer an opportunity to be heard.
Delhi High Court took note of government’s decision to discontinue GST concessions for orthopedically disabled persons and directed officials to explain why a proportionate GST reduction cannot be implemented for disabled buyers.
