ITAT Chennai held that the assessee is entitled for its claim of additional depreciation qua amounts not claimed in the preceding year. Thus, claim of the additional depreciation made during the year is allowed.
The ITAT Ahmedabad has ruled that the Finance Act 2022 amendment, which removed the one-year extension for trust income utilization, applies prospectively, not retrospectively.
ITAT Bangalore quashes assessments against Blueline Foods, ruling that a survey is not a valid search and that a panchanama in the company’s name is required.
The ITAT Ahmedabad has remanded a case to the AO to re-examine a taxpayer’s claim for a Section 54B deduction on capital gains from a contingent sale, noting that a critical escrow arrangement was not considered.
The ITAT Delhi has remanded a charitable society’s case to the AO after finding that the CIT(A) violated Rule 46A by not allowing the AO to examine additional evidence.
The Calcutta High Court has set aside a GST demand against P.G. Exim, remanding the case for fresh adjudication after the company claimed earlier proceedings were dropped without their knowledge.
The Calcutta High Court has stayed a GST demand against P.G. Exim, citing the lack of a constituted Appellate Tribunal for the company to file an appeal.
Andhra Pradesh High Court held that revision order passed beyond time prescribed under section 108(2) of the AP GST Act, 2017 is barred by limitation. Further, extension of limitation granted during COVID is available to litigants and not to the authorities.
ITAT Mumbai held that trade receivable shown as net of provision for doubtful debts would not be hit by section 115JB(i) of the Income Tax Act. Accordingly, addition of provision of bad and doubtful debts to book profits computed u/s. 115JB not sustained.
The present petitions were filed challenging the impugned order dated 28thApril, 2025 passed by the High Court at Calcutta. The issue pertains to release of the goods which were seized by the police after registration of First Information Report.
