Gujarat High Court held that since provisions of DTAA would override the provisions of the Domestic Act where the provisions of the DTAA are more beneficial to the assessee. Thus, section 206AA of the Income Tax Act doesn’t override the provisions of 90(2) of the Income Tax Act.
ITAT Mumbai held that denial of claim of Foreign Tax Credit [FTC] for delayed filing of Form No. 67 not sustainable. Accordingly, order set aside and matter restored to file of AO to verify genuineness of the claim.
ITAT Delhi held that interest income from fixed deposits and loans given to employees is eligible for claiming benefit under section 10AA of the Income Tax Act. Accordingly, AO allowed to claim deduction u/s. 10AA and appeal of assessee allowed.
Supreme Court halts ocean freight service tax refunds, linking compliance to the outcome of a pending appeal on the levy’s constitutional validity.
Allahabad High Court held that filing of Form 10-IC prior to filing of return is not mandatory and if “genuine hardship” is shown then delay may be condoned. Accordingly, delay in filing Form 10-IC condoned and order quashed.
Bombay High Court held that offences under the Bharatiya Nyaya Sanhita, 2023 [BNS] can be recognized as scheduled offences under the Prevention of Money Laundering Act, 2002 [PMLA] without a specific amendment of the PMLA Schedule.
The Allahabad High Court ruled that misclassification of goods alone does not warrant a Section 129 penalty under U.P. GST Act, requiring refund of any deposited penalty.
NCLAT Delhi held that no new claims including statutory dues can be allowed post approval of resolution plan. Accordingly, the belated claim of GST department rightly dismissed by the adjudicating authority.
Notices issued to a taxpayer on the ground that the Income Tax Department failed to issue them in compliance with the mandatory faceless assessment procedure, thus disregarding binding judicial precedents that have adjudicated on the matter was invalid.
Delhi High Court held that proper opportunity of being heard not got as petitioner was unaware about issuance of SCN which was uploaded on GST portal under ‘Additional Notices Tab’. Accordingly, matter remanded back and order set aside.
