Since assessee was not allowed an opportunity to present all Bank Realization Certificates (BRCs) for the concerned shipping bills and produced documents before the authorities to substantiate that they were not liable to return the drawback amount.
Resolution plan for Steadfast Shipping Private Limited was approved under Section 31 of the Insolvency and Bankruptcy Code, 2016, after finding that the plan met all requirements under Section 30(2) of the Code and was approved by the Committee of Creditors (CoC) with 100% voting share.
Export incentives in terms of Notification No.19/2015-20 dated 17.08.2021 couldn’t be denied for inadvertent error in shipping bill as merely because of a software system was introduced, it would not mean that the software would override the principles of natural justice and rights of the parties.
State could not blacklist a company after approval of a resolution plan under the Insolvency and Bankruptcy Code, and that the new management could not be punished for the actions of the old management.
ITAT Mumbai rules that a lack of response to notices cannot justify a disallowance under Section 40A(2)(b). The AO must prove payments are excessive.
ITAT Bangalore rules that CIT(A) cannot dismiss an appeal for non-prosecution, setting aside an order in the case of Yasmeen Shaikh vs. ITO and remanding the matter for fresh adjudication.
ITAT Delhi deletes credit card addition and remands the mutual fund investment issue for fresh verification in the case of Promilla Mathur vs. CIT.
ITAT Ahmedabad dismisses Revenue appeals in ACIT vs Ashokbhai Kheni, ruling that jurisdiction lies with ITAT Surat as per the Supreme Court’s guidance.
Jaipur ITAT rules that a clerical error in a tax return cannot be grounds for collecting tax on non-existent income, directing the department to rectify the mistake.
Mumbai ITAT partly allows a CA’s appeal, disallowing 50% of his gold coin gift expenses, stating that lack of business nexus and recipient details is a valid reason.
