Subsequently asserted that the twin conditions under Section 263 were absent as the AO had conducted due inquiry. Revenue contended that Section 37(1) disallowed CSR expenses which were not wholly and exclusively for the purpose of business.
Demanding of tax which was over three times the tax proposed in the original show cause notice (SCN) was not justifies as the order was passed in complete violation of natural justice and beyond the scope of the SCN.
Car imported into India remained “new” for customs purposes even if it was registered abroad before export, provided the registration was a legal requirement and the car was unused, therefore, the question of demanding any duty short paid on account of re-determination of the assessable value did not arise.
Calcutta High Court grants bail to Gopal Rathi, arrested for alleged GST fraud, citing failure to issue prior notice under BNSS and a period of 40 days in custody.
The Supreme Court directed NCR authorities to immediately create dog shelters and remove all stray dogs from public areas to protect citizens from dog bites.
Since no new material or facts had come to light and the AO had already applied his mind during the original assessment, the reassessment proceedings were invalid in law accordingly, Section 148 notice was quashed.
Delhi and Rajasthan HC precedents cited as ITAT Jaipur rules that reassessment for ‘other persons’ must be year-specific and limited to incriminating material found during search
NCLT Ahmedabad held that application for initiation of Corporate Insolvency Resolution Process [CIRP] filed by Financial Creditor [SBI] u/s. 7 of IBC against Corporate Debtor [Raninga Paper Mills Private Limited] is admitted as existence of financial debt and default demonstrated.
The Madras High Court remits a Rs.214 crore tax case, giving a petitioner one last opportunity to submit documents, citing financial hardship.
ITAT Mumbai dismissed revenue’s appeal against Thirumalai Chemicals, allowing gratuity, bad debts, and other expenses while also allowing the assessee’s cross-objection.
