Bombay High Court quashed the Section 127 transfer of a former CFO’s case from Mumbai to Delhi, ruling that the basis for transfer coordinated investigation eased once the main company’s assessment was complete.
The Gujarat High Court confirmed the Tribunal’s decision to disallow 25% of bogus purchases shown by Vijay Proteins Ltd., but quashed the penalty levied under Section 271(1)(c) of the Income-tax Act.
Allahabad High Court rules in Aysha Builders case that generating an e-way bill after vehicle detention is non-compliant, frustrating the GST Act’s purpose, and upholds the Rs 75,600 penalty.
GSTAT holds no profiteering under Section 171 CGST Act in IREO’s Skyon, Ireo City Central, and Managed Service Apartment projects as post-GST ITC benefit did not increase.
GSTAT ruled that no additional input tax credit benefit accrued to developer after GST implementation, leading to closure of anti-profiteering proceedings under Section 171 of CGST Act.
ITAT Delhi nullified a reassessment, ruling that mandatory sanction under Section 151 was invalid because it was granted by Principal Commissioner (PCIT). Tribunal held that reopening assessments after three years requires approval from higher authority: Principal Chief Commissioner (PCCIT).
ITAT Delhi confirmed that a statutory development authority’s activities, such as land development and housing, are charitable under Section 2(15), not commercial. The Tribunal applied the principle of consistency, relying on multiple High Court and ITAT precedents for similar development bodies.
Tribunal upheld CIT(A)’s view that assessments for AYs 2013-14 to 2015-16 fell outside permissible six-year block under Section 153C. Additions made by AO were held time-barred and without jurisdiction.
ITAT Delhi dismissed the Revenue’s appeal, ruling that the assessment under Section 153C was time-barred because the block period must be calculated from the date the Assessing Officer (AO) of the non-searched person received the seized material. The ruling confirms that the date of the original search is irrelevant for non-searched persons.
ITAT Delhi ruled that Section 50C, which allows revaluing property based on circle rates, applies only to the seller in a transfer, not the buyer in a slump sale governed by Section 50B. The Tribunal held that goodwill is depreciable, but its value must be verified by the Departmental Valuation Officer (DVO).
