Karnataka HC dismisses Revenue’s appeal, affirming the deletion of disallowed short term capital loss due to a monetary limit circular. Case pertains to AY 2009-10.
Karnataka HC sets aside ex-parte Income Tax assessment after CA’s failure to appear, allowing petitioner to contest the case afresh before the AO.
Karnataka HC directs refund of Rs. 17.48 Cr, erroneously adjusted against a 2017-18 tax demand, with interest to LSI India Research And Development Pvt. Ltd.
Karnataka High Court held that order passed blocking Input Tax Credit by invoking of rule 86A of the Central Goods and Services Tax Rules quashed as order was passed without providing pre-decisional hearing and without giving cogent reasons.
Karnataka HC quashes income tax assessment and penalty orders due to non-service of show cause notice (SCN) under Section 148A(b), allowing fresh reply opportunity.
Karnataka HC quashes CBDT order under Section 119(2)(b) and condones 2-hour delay in ITR filing due to genuine hardship. Returns for AY 2019-20 to be processed.
Karnataka High Court rules on a 7-day response requirement for Section 148A(b) IT notices in Shivakumaraswamy Credit Co-op Society case, setting aside assessment orders.
Karnataka High Court held that claims which are not a part of resolution plan stands extinguished, accordingly, no person will be entitled to initiate or continue any proceedings in respect to a claim which is not part of the resolution plan.
Karnataka HC sets aside IT penalty on Cooperative Society due to unexplained genuineness doubts. Case sent back to AO for re-examination of cash deposit transactions.
Though the petitioner has sought for multiple reliefs, it is clear that they have confined their relief for refund of the amount of Rs.2.50 crores collected, while keeping open the other contentions in light of pending adjudication initiated by issuance of show cause notice.
