The Bombay High Court ruled that the CIT cannot exercise revision powers under Section 263 when the Assessing Officer has verified the identity, source, and creditworthiness of foreign donors and satisfied with gifts received.
The Bombay High Court held that mortgage deeds executed without a prior No Objection Certificate (NOC) from an existing charge holder are voidable, protecting the rights of the first charge holder.
The Court ruled that the Tribunal failed to examine key contractual clauses and judicial precedents before denying a deduction claim. It held that such non-consideration amounted to a mistake apparent from the record.
The Court confirmed that the Joint Commissioner could not rectify another authority’s order under Section 74, and the petitioner must use statutory appeal mechanisms.
The Court held that a genuine mistake caused by a misprint in a widely used tax publication justified condoning a 509-day delay in filing Form 9A. The rejection orders were quashed and relief granted under Section 119(2)(b).
The Court held that a reassessment notice issued to an entity that had ceased to exist after conversion into an LLP was invalid. The ruling confirms that tax proceedings cannot continue against non-existent entities.
The Court held that objections such as lack of pre-SCN consultation were waived and that disputed findings should be raised in appeal. The petitioner was directed to pursue statutory remedies.
The High Court set aside the refusal to condone a 523-day delay after finding the explanation adequate. The ruling allows the trust’s Form 10 filing to be accepted for exemption purposes.
The Court stayed a Tribunal order allowing redemption of confiscated gold while examining whether the Tribunal had jurisdiction under the Customs Act. The ruling highlights the need to address key legal questions before relief is granted.
The Court held that a Section 148 notice issued by the Jurisdictional Assessing Officer instead of the Faceless Assessing Officer was invalid. It ruled that mandatory faceless procedures apply even in international taxation matters.
