Supreme Court held that Chief Controlling Revenue Authority lacked any express statutory power to review or recall its own decision. Thus, once refund is granted by CCRA it cannot review the same and reject refund application.
Supreme Court overturns Bombay High Court order, addressing delay condonation and interpretation of ‘sufficient cause’ under Section 5 of the Limitation Act.
Supreme Court held that the agreement between the oil marketing companies indicates that the price of petroleum products agreed under MoU is not a normal price and, therefore, is not a transaction value. Appeal allowed on the ground of extended period.
Supreme Court held that the reduction in share capital of the subsidiary company and subsequent proportionate reduction in the shareholding of the assessee would be squarely covered within the meaning of transfer under Section 2(47) of the Income Tax Act.
Supreme Court granted bail to women who is accused in complaint filed u/s. 44 of the Prevention of Money Laundering Act, 2002 since there is no possibility of the trial concluding in near future.
The Supreme Court stays show cause notices in the GST case Directorate General of Goods and Services Tax Intelligence vs. Gameskraft Technologies Pvt Ltd.
Supreme Court quashes criminal proceedings against R. P. Darrmalingam for delayed IT return filing, citing penalty drop and refund order under the IT Act.
Supreme Court held that the National Commission had no jurisdiction to re-write the terms of the contract entered between the banks and the credit cardholders, which the parties have mutually agreed to be bound by.
Supreme Court held that the reduction in share capital of the subsidiary company results into the transfer of capital asset as envisaged in section 2(47) of the Income Tax Act. Accordingly, petition of revenue dismissed.
SC dismisses Revenue’s appeal over penalty under APVAT Act due to lack of show cause notice, urging efficient legal processes to avoid unnecessary delays.
