Madras High Court held that reopening of assessment u/s 148 of the Income Tax Act beyond the period of four years unjustified as all the particulars with regard to sale of agricultural land was disclosed before AO in full extent.
Orissa High Court held that since the investment in Government of India Fertilizer Bonds [GoI Bonds] was made under commercial expediency it did not bring an asset of a capital nature and the diminution in the value of the said bond are allowable as revenue loss.
Calcutta High Court held that all commercial contracts includes an element of calculated business risk, thus, merely due to change of taxation statues, the root of the contracts cannot be challenged.
Explore the detailed analysis of Antony Alphonse Kevin Alphonse vs ITO case at Madras High Court. Uncover the assessment challenges, legal proceedings, and the court’s decision.
Delhi High Court held that liquor being sold by different companies incorporated by appellant. Accordingly, manufacturer and seller of the liquor was one and entire attempt was to avoid payment of excise duty by hiding behind the cloak of different companies. Hence, demand of excise duty on leftover stock upheld.
Explore the Kerala High Court’s decision on Platino Classic Motors vs. Deputy Commissioner of Central Tax. Analysis of IBC Section 14, assessment, and adjudication proceedings.
Read the Kerala High Court judgment dismissing a writ petition challenging a revenue recovery notice for GST dues due to failure to appeal the assessment order.
Explore the Kerala High Court judgment on Nirapara Roller Flour Mills vs State Tax Officer. Learn how the court directs a 10% penalty deposit for recovery stay, citing KVAT Act amendments.
Once the e-way bill has been generated and same has not been cancelled by the petitioner within the time prescribed under the Act, the movement of goods as well as genuineness of transaction in question cannot be disputed.
Bombay High Court quashes assessment order, directs JAO to provide specific information for Section 148A(b) notice. Detailed analysis and implications of the judgment.
