NCLT Allahabad held that application under section 7 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process [CIRP] against M/s. LDR Developers Private Limited [Corporate Debtor] admitted as debt and default proved.
Andhra Pradesh High Court held that single GST show cause notice cannot be passed in relation to more than one tax period of either a month if the assessment is taken up before the due date for filing of the annual return or for more than one year if the due date for filing of annual return has been reached.
High Court ordered pending restoration application of assessee before ITAT to be considered expeditiously, while noting a demand raised under Section 156 of Income Tax Act. The court emphasized avoiding unnecessary adjournments.
The ITAT has condoned a one-day delay in the filing of Form 10B by a charitable trust, directing the tax authorities to allow its claim for deductions.
The Chhattisgarh High Court has granted bail to Aman Kumar Agrawal, accused of fraudulently availing over ₹23 crore in GST input tax credit. The court cited the completion of the investigation and the accused’s cooperation.
The ITAT Bangalore rules that while a co-operative society’s late IT return warrants disallowing its Section 80P deduction, the tax authorities must still assess and tax the net profit, not the gross income, after allowing for all related expenses.
The ITAT has directed the tax department to refund ₹37.88 lakh to a non-resident for an incorrect TDS credit, dismissing the tax authority’s reasoning as vague.
ITAT reverses a tax addition on cash withdrawals, ruling that they were genuine business turnover and not unexplained income.
The ITAT dismisses a cooperative society’s appeal over disallowed tax deductions after the society confirmed it is pursuing an alternative remedy.
The Andhra Pradesh High Court has set aside a GST penalty order for lacking a signature, stating an unsigned notice is invalid regardless of a taxpayer’s delay in challenging it.
