The NCLAT Chennai has dismissed an appeal filed by a shareholder of a company undergoing CIRP, holding that an appeal at the behest of a shareholder is not maintainable.
The Allahabad High Court has granted bail to an individual accused of GST evasion, citing the offense’s compoundable nature, the accused’s lack of criminal history, and willingness to pay the compounding fee.
ITAT Ahmedabad has reduced disallowance of foreign travel expenses for Archi Exim P. Ltd. to 25%, citing incomplete but partial documentation and adhering to a previous judicial precedent.
The Bombay High Court has issued a notice to the Attorney General to hear a petition challenging the definition of ‘spouse’ under the Income Tax Act for same-sex couples.
The ITAT Ahmedabad has set aside a CIT(A) order that deleted a Rs. 99.5 lakh cash deposit addition, citing a procedural error for not obtaining a remand report from the Assessing Officer.
The Delhi High Court has ordered the Customs Department to release a gold kada, ruling that a pre-printed waiver of a written Show Cause Notice is not legally valid.
The ITAT Chennai has restored a charitable trust’s appeal for 80G approval back to the CIT(E), pending a CBDT decision on its condonation request for a 90-day delay in filing.
ITAT Mumbai ruled that forfeited share application money is a capital receipt, not taxable under Section 68. It also confirmed interest on business funds and disallowed ad-hoc expense additions.
ITAT Mumbai rules SBI is not an assessee in default for TDS on foreign remittances if payees have paid taxes. Explains implications for MasterCard, Visa, and interest liability.
The ITAT Ahmedabad ruled that a fall in gross profit alone cannot justify the rejection of an assessee’s audited books of account without the AO pointing out specific defects.
