Manipur High Court held that non-communication of order of reassessment and demand notice within time lime prescribed under section 153(2) of the Income Tax Act cannot be treated as valid assessment. Accordingly, order quashed aside.
Delhi High Court held that it is impermissible for TPO to disregard the actual transaction unless it comes to the conclusion that an unrelated party would not have undertaken the same in usual course of business. Thus, TPO not permitted to engage in the restructuring of a transaction.
Calcutta High Court held that petitioner not put to notice in respect of addition made under section 69A of the Income Tax Act as notice was issued making addition u/s. 68. Accordingly, the same is violative of principles of natural justice.
Gauhati High Court held that once the assessment order of the authorities are set aside and matter is remanded back and on assessment, no taxable due was found, no interest can be levied.
Bombay High Court held that security creditor who has registered its claim against secure assets with the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) has priority over other debts.
Telangana High Court held that department failed in complying with modified income tax reassessment proceedings as laid down under the Finance Act, 2021. Accordingly, show cause notice and consequential order passed set aside.
Kerala High Court held that even after 01.04.2010, Bank would be entitled to the deduction envisaged u/s. 36(1)(viii) of the Income Tax Act in respect of the long term finance provided by it for construction and purchase of houses in India for residential purpose.
Kerala High Court held that when employees’ contribution to EPF/ESI not made within due date prescribed for making payments is liable to be disallowed under section 36(1)(va) of the Income Tax Act.
Gujarat High Court quashes penalty imposed on CEAT Limited for E-way bill errors, ruling technical lapses do not warrant equivalent tax penalties.
Gujarat High Court directs refund with interest under section 11B in Pankaj Bagri case, ruling on repeated rejection of service tax claims and judicial discipline.
