The Delhi ITAT dismissed an appeal by the DCIT, ruling that a company’s income from a property sale, already declared in its books, cannot be taxed a second time.
The ITAT has denied a deduction under Section 80ID for Ramesh Bhatia HUF, ruling that a previously used hotel building doesn’t qualify as a new business for tax purposes.
The ITAT has ruled a reassessment notice against AP Goyal Charitable Trust was invalid because it was issued after the deadline, as per Supreme Court rulings on extended timelines.
The Chattisgarh High Court granted a stay on GST penalty against Ultratech Cement, questioning the use of Section 74 without proven fraud or suppression of facts.
Cash deposits made by assessee during the demonetization period were explained as being sourced from earlier withdrawals and household savings, and deleted the addition of ₹10,46,500 made under section 69A.
The ITAT Visakhapatnam ruled in favor of a commission agent, directing tax authorities to grant full TDS credit, reinforcing a key distinction between turnover and commission.
The NCLAT has dismissed an appeal by Saurabh Premprakash Chugh, upholding a lower court’s decision that his second insolvency application was barred by res judicata.
NCLT Hyderabad has ordered the liquidation of Neocortex Life Sciences Pvt Ltd after the Resolution Professional cited non-cooperation from creditors and a lack of assets.
NCLT Mumbai rejected the application u/s. 30(6) of the Insolvency and Bankruptcy Code [IBC] seeking approval of resolution plan since the same didn’t meet all the criteria laid down in sub-section (2) of Section 30 of the Code read with Regulations 36A and 39 of the CIRP Regulations.
The Supreme Court has transferred multiple high court petitions regarding the levy of service tax on royalty payments, consolidating them for a unified hearing with a pending case.
