ITAT Chennai ruled in Gokulakrishna’s favor, deleting capital gains tax on funds received from a profit-sharing realignment during an LLP’s reconstitution. The court determined that a reduction in profit share for existing partners upon new partner admission does not constitute a taxable transfer of capital assets.
The Jharkhand High Court has ruled in favor of R.K. Transport & Constructions Ltd., directing GST authorities to act against a vendor who collected GST but failed to deposit it, leading to ITC denial for the petitioner.
Delhi High Court dismisses GST petitions after discovering forged Aadhaar cards & fabricated SCNs. Court mandates FIR registration & new verification protocols.
The appellant-company has deducted TDS as per sec.194H of the Act on commission payment to Agent, however, not deducted any TDS on sales promotion and cash incentives paid to the retailers.
The Corporate Debtor never contested the debt or offered any kind of restructuring or settlement plan, according to the Financial Creditor. Since the purported date of default on October 1, 2021, no partial payments have been paid.
Assessee by bypassing the statutory mechanism, had misused the process of law as IBC, 2016 was a codified and time-bound legislation enacted to ensure the expeditious resolution or liquidation of corporate debtors, with specific timelines prescribed at each stage.
Calcutta High Court remands Bajaj Wheels tax case to adjudicating authority for fresh decision, citing appellate order’s lack of explicit directions.
Delhi High Court rules only one pre-deposit needed for GST appeal when tax liability is duplicated across two orders, preventing double payment for the same amount.
Delhi High Court directs GST department to grant personal hearing for registration suspension but limits writ relief for re-inspection, advising assessee to approach adjudicating authority.
ITAT Jaipur held that since reasons for incomplete details in Form No. 10AB are curable in nature, assessee is given one more chance to advance documents before CIT(E) as to application for registration u/s. 12AB. Accordingly, matter restored for fresh registration.
