A summary of the ITAT Delhi ruling on cross-appeals involving International Tractor Ltd. covering key tax issues on depreciation, R&D, and other business deductions.
A GST Appellate Tribunal ruling finds that an approved resolution plan under the Insolvency and Bankruptcy Code (IBC) extinguishes anti-profiteering claims not listed in the plan.
In the instant case, the dispute pertained to promoter and inter-corporate loans advanced to the respondent-corporate debtor Palchan Bhang Power Private Limited (PBPPL) between 2011 and 2014 for the development of the Palchan Bhang Hydro Electric Project.
Customs department must reconsider an exporter’s application for renewal of a self-sealing licence when earlier violations had been settled and the exporter had not been given a chance to explain their case as there was clear violation of principles of natural justice.
Income tax penalty proceedings initiated against the company under Section271(1)(c) was quashed as no sufficient time was given for reply and a personal hearing rendered the proceedings procedurally unfair and legally unsustainable.
The ITAT Kolkata has dismissed the Bhaba vs CIT appeal concerning Section 12A registration. The appeal was ruled infructuous after the CIT granted the registration.
The ITAT ruled that an employee cannot be taxed on cash deposits that are found to be the employer’s funds, remanding the case for verification of the end-use of the money.
The Mumbai ITAT ruled that MLI provisions cannot be applied to deny treaty benefits under the India–Ireland DTAA without a specific notification under Section 90(1) of the Income Tax Act.
The Delhi High Court dismisses appeals against Maruti Suzuki, ruling that tax issues previously settled by the Supreme Court and other binding precedents cannot be reopened.
The ITAT Bangalore ruled that tax additions cannot be based on uncorroborated loose papers, reiterating a Supreme Court precedent that such documents have no evidentiary value.
