ITAT Bangalore directed the re-evaluation of a trust’s classification as religious and its denial of tax-exempt status, citing a failure to consider all relevant documents.
Madras High Court held that delay in filing of an appeal condoned since rectification application u/s. 161 of TNGST Act, 2017 was preferred first and due to rejection of the same the appeal was filed belatedly. Accordingly, delay condoned.
Assessee also moved an application for admission of additional evidence (sale deed, tripartite agreement, purchase document) under Rule 29 of the Income Tax Appellate Tribunal Rules, 1963.
CESTAT Delhi held that order revoking Customs Broker License set aside on account of breach of time limit contemplated under regulation 17 of the Customs Broker Licensing Regulation 2018. Accordingly, appeal of the assessee allowed.
ITAT Surat held that ex-parte order of CIT(A) set aside and restored back for fresh adjudication subject to payment of cost of Rs. 10,000 on account of non-cooperation/ non-compliance on the part of the assessee. Accordingly, appeal disposed of.
ITAT Hyderabad held that passing of assessment order without Document Identification Number [DIN] is invalid and nonest in the eye of law. Accordingly, order shall be treated to have never been issued.
NCLT Ahmedabad held that application under section 7 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process against the Corporate Debtor [Bhagirath Construction Company Private Limited] admitted as default provide and application filed within limitation period.
Law prescribes that tax shall be charged on income in respect of which such person is so liable at the maximum marginal rate. There is no provision in the law to charge specific discretionary trust bit lower than the rates of tax and surcharge applicable to a beneficiary individual.
ITAT Pune held that revisionary proceedings under section 263 of the Income Tax Act rightly invoked since AO failed to make necessary enquiries and verification. Accordingly, revisionary proceedings upheld and appeal of assessee dismissed.
NCLT Mumbai held that application u/s. 9 of the Insolvency and Bankruptcy Code admitted as allegation of pre-existing dispute pertaining to quality, quantity and defective nature of goods not proved.
