The Court found the appellate authority’s rejection of delay condonation mechanical and set aside the cancellation order, allowing revival upon fulfilling conditions.
Telangana High Court held that amount paid towards cancellation of agreement is liable to be disallowed under section 48(i) of the Income Tax Act since the no condition was stipulated in original Memorandum of Understanding hence in absence of contractual obligation the disallowance of said amount is justified.
High Court allowed provisional release of 233 multifunctional devices subject to enhanced duty payment, 10% bank guarantee, and maintenance of detailed sales records.
Court held that Section 74 proceedings cannot be initiated when tax and interest are paid before issuance of notice under Section 73(5). The ruling confirms that premature invocation of Section 74 is without jurisdiction.
Telangana High Court held that sale of undertaking as a going concern falls within the definition of a slump sale as set out in Section 2(42C) of the Income Tax Act hence section 41(2) dealing with taxation of gains on sale of certain depreciable assets doesn’t apply.
The Telangana High Court struck down clauses of the Finance Act imposing service tax on non-profit clubs, following Supreme Court and other High Court precedents.
Telangana High Court struck down service-tax provision on club-member transactions, holding that doctrine of mutuality and Supreme Court’s Calcutta Club judgment render such levies invalid.
The High Court set aside reassessment notices for not following mandatory faceless procedures introduced by recent Finance Act amendments. The ruling underscores that non-faceless issuance violates statutory requirements.
Court held that an appeal must be filed before Tribunal within notified window and directed a 10% penalty pre-deposit. It ruled that earlier tax-related deposits cannot be adjusted, and protected petitioner from coercive action after compliance.
The Telangana High Court ruled that an assessment order passed ten years after an ITAT remand violated Section 153 of the Income Tax Act. It held that the order was barred by limitation and unsustainable in law. The Court directed refund of taxes with interest, subject to the outcome of the pending departmental appeal.
