Patna High Court held that reassessment proceedings initiated on the basis of incorrect information which was not supported by any material is not sustainable in law. Accordingly, order passed thereon is liable to be quashed.
Delhi High Court held that imposition of penalty justified since appellant holding IEC registration ought to have acted responsibly and ensured that the same was not misused by any third party. Thus, penalty imposed on the appellant justified since appellant was aware of IEC being misused.
Rajasthan High Court judgment in Kailash Chand Agarwal vs ITO. Discusses the genuineness of cash credits under Section 68 and the Tribunal’s reversal of CIT(A) order.
Rajasthan High Court backs tax authorities’ power to reopen assessments based on new information, citing Supreme Court rulings on ‘reason to believe’.
Bombay High Court allows condonation of delay in filing income tax returns. The delay was due to the ill health of the Chartered Accountant’s spouse, a genuine reason.
Gujarat High Court affirms tax relief on share losses for Affluence Commodities, stating sale is genuine if counterparty purchase is valid.
Madras High Court sets aside GST assessment order against Sundar Prabhu Deva for lack of proper notice and hearing, remands case for fresh consideration.
Allahabad HC quashes GST assessment against Origin B.R. Digitalsigns due to non-provision of crucial SIB report, violating natural justice. Remanded for fresh hearing.
Uttarakhand HC quashes GST demand order exceeding show cause notice amount, citing Section 75(7) violation. Allows fresh proceedings.
Madras HC dismisses M.K.N. Coconut Industries’ plea against GST assessment due to limitation period. Directs consideration for installment payments
