ITAT quashes reassessment against Mauritius-based FPI, ruling that sanction from correct authority under section 151 was mandatory.
ITAT Mumbai quashes a reassessment notice, ruling it was invalid as the sanction was granted by the wrong authority under Section 151 of the Income-tax Act.
The Bombay High Court has quashed a reassessment notice for AY 2018-19, ruling the sanction was improperly granted by a lower authority, the PCIT.
GSTAT ruled that Raj & Company failed to pass on GST rate cut from 28% to 18% on cosmetics, profiteering ₹3.31 lakh. Distributor directed to deposit with interest.
Tribunal ruled that non-deposit in Capital Gains Account does not bar 54F relief if funds are used for construction within Section 139(4) timeline.
Investigation findings are not binding on GST adjudicating authority, and to be decided through proper adjudication: Madhya Pradesh High Court
The ITAT Bangalore has deleted a ₹27 lakh addition to a wife’s income, ruling it was double taxation as her husband had already declared the full capital gains.
Mumbai ITAT rules 10% tolerance limit under Section 50C is retrospective from 2003, deleting an addition. It also allows deduction for stamp duty paid by seller.
Cochin ITAT remanded ₹25 lakh addition, holding CIT(A) erred by invoking Section 68 without notice. Matter sent back for fresh adjudication after hearing assessee.
Delhi High Court ruled that a penalty under Section 271E was time-barred, clarifying that limitation period begins with Assessing Officer’s initiation.
