The Telangana Appellate Authority for Advance Ruling has confirmed that renting a building to a government department for a welfare hostel is a taxable service, dismissing claims of GST exemption.
Delhi High Court held that AO has sufficient information available with him to carry out reassessment proceedings. Accordingly, reopening of assessment u/s. 148A of the Income Tax Act upheld and petition dismissed.
NCLT Mumbai held that section 7 application for initiation of Corporate Insolvency Resolution Process [CIRP] against Reliance Home Finance Limited [Corporate Debtor] admitted as default in repayment of debt exceeding Rs. 1 Crore established.
ITAT Chennai held that addition under section 69A of the Income Tax Act towards cash deposits not reflected in bank account details cannot be sustained since the income doesn’t belong to assessee in the individual status but the income belong to HUF of the assessee.
ITAT Chennai allows a partnership firm to claim a bad debt deduction of ₹23.10 lakh, ruling that losses from employee fraud are a genuine business loss. The decision highlights that an FIR and book entries are sufficient evidence.
Tribunal remanded case to AO, allowing assessee to substantiate capital introduced from sale of agricultural lands with proper documents like patta, chitta, and adangal.
The ITAT Bangalore ruled in Ramesh Kumar vs. ACIT that capital gains tax can’t be levied based on mere possession, a commencement certificate, and an unregistered Power of Attorney.
Delhi High Court in VRG Electronics v. PCIT reaffirms a liberal approach to condoning ITR filing delays under Section 119(2)(b). Court ruled that an accountant’s negligence can constitute genuine hardship.
The Supreme Court of India upholds the validity of consolidated GST Show Cause Notices (SCNs) for multiple financial years in fraudulent ITC claims.
The Bombay High Court set aside an order denying tax exemption to People’s Mobile Hospitals, a charitable trust, for a delay of 84 days in filing Form 10B. The court ruled that the delay was procedural and not a willful default, emphasizing a “justice-oriented” approach in such cases.
