The Bangalore CESTAT set aside the penalty imposed under the CBLR after finding no admissible evidence that the Customs Broker had neglected its due diligence obligations. The Tribunal held that mere occurrence of illegal export could not establish regulatory violations without supporting proof.
The ITAT Ahmedabad held that isolated WhatsApp messages and electronic communications cannot, by themselves, support additions in search assessments. The Tribunal deleted several additions because no corroborative evidence established actual cash transactions. The ruling underscores that suspicion cannot replace proof in tax proceedings.
ITAT Ahmedabad held that penalty under Section 43 of the Black Money Act could not be imposed when foreign assets were subsequently disclosed in returns filed under Section 153A. The Tribunal relied on the principle that such returns substitute the original returns.
The Delhi ITAT held that notifications issued under TOLA extending limitation periods applied only to specified statutes and not to Black Money Act assessments. As a result, the assessment order passed beyond the statutory deadline was quashed.
The NCLT Indore restored the company’s name after noting that it owned significant immovable property and that continued strike-off would prejudice shareholders and stakeholders. The Tribunal held that restoration was justified subject to compliance with pending statutory obligations.
The Delhi ITAT held that reassessment proceedings were invalid where the Assessing Officer made additions unrelated to the reasons initially recorded for reopening. The consequential penalty proceedings were also set aside.
The Delhi ITAT held that electricity charges paid to statutory authorities in the ordinary course of business qualify as deductible expenditure under Section 37(1). The ruling reiterates that routine operational expenses incurred exclusively for business purposes are allowable deductions.
The ITAT Bangalore held that additions under Section 68 could not be sustained without proper examination of bank statements, PAN details, confirmations, and other supporting evidence. The matter was remanded for fresh consideration.
The High Court held that appeals concerning the adequacy of sentence should be presented before the jurisdictional Sessions Court. It permitted withdrawal of the appeal with liberty to pursue the appropriate forum.
The NCLT Bengaluru dismissed a creditor’s claim submitted long after the prescribed timeline under the liquidation regulations. The Tribunal held that belated claims cannot reopen an advanced liquidation process.
