The Court held that the assessment confirmed without a reply warranted reconsideration. It remanded the case for fresh adjudication upon filing of response and documents.
The Court held that once the GST Appellate Tribunal became operational, disputes must be pursued through the statutory appeal mechanism. It directed filing of appeal within prescribed timelines.
The Court held that where corresponding sales are accepted, only the profit element in alleged bogus purchases can be taxed. It upheld the ITAT’s restriction of disallowance to 10% and dismissed the Revenue’s appeal.
The issue was whether compensation paid to flat buyers was capital or revenue expenditure. The Court held it to be revenue expenditure as it was incurred for business purposes and commercial expediency.
The issue was failure to pass a final assessment order after DRP directions within the statutory timeline. The Court held the assessment invalid and time-barred, quashing the proceedings.
The case addressed whether additions can be made under Section 153A without incriminating material. The Court held that such additions are impermissible in completed assessments, reinforcing settled legal principles.
The court examined whether a final assessment order could stand without issuing a draft order to an eligible assessee. It held that bypassing the mandatory draft assessment process invalidates the final order and renders it void.
The court examined whether reopening an assessment based on previously scrutinized facts was valid. It held that reassessment without fresh tangible material amounts to a change of opinion and is without jurisdiction.
The Court held that compensation paid to buyers for surrendering rights was incurred for business purposes and not capital in nature. It emphasized commercial expediency as a key factor. The ruling clarifies treatment of such payments in real estate business.
The court held that a provisional attachment under Section 83 ceases once a final order under Section 74 is issued. The ruling reinforces that subsequent challenges must focus on the final order, not interim measures.
