Madras High Court remands ITC claim, orders partial deposit, and grants new objection chance in Chinnadurai Saravanan vs Deputy State Tax Officer case.
Madras High Court upholds RBI’s Net Owned Fund (NOF) rules for NBFCs, affirming compliance requirements and rejecting challenges to financial component inclusion.
Madras High Court directed to consider Section 16(5), inserted vide Section 118 of the Finance (No. 2) Act, 2024, for Input Tax Credit claimed beyond period stipulated u/s. 16(4) of the GST Act. Thus, writ disposed of accordingly.
Madras High Court held that the recording of satisfaction note is pre- requisite before initiating proceeding under section 153C of the Income Tax Act. In absence of the same, assessment order is liable to be quashed. Accordingly, appeal of the revenue is dismissed.
Madras High Court held that service of GST notice only through GST portal is not service of notice in compliance with Section 169 of TNGST. Hence, assessment order passed thereon is liable to be quashed.
Madras High Court addresses GST rectification order, appeal time limits. Court clarifies appeal period starts from rectification rejection date.
Madras High Court grants relief to assessee, ruling GST portal notice insufficient; remands case subject to 25% tax payment.
Madras High Court held that income from sale of shares is to be treated as business income since money was borrowed and invested in shares only for the purpose of trading in shares. Accordingly, income from sale of shares cannot be treated as short-term capital gain.
Madras High Court directs GST registration revival, requiring tax, penalty payments, and compliance with statutory conditions for reinstatement.
Madras HC upholds deemed pendency of settlement applications before March 31, 2021, under Clause [iv] of S.245A, affirming Single Judge’s ruling.
