The ITAT Bangalore has condoned a 353-day appeal delay and set aside an ex parte order, emphasizing that the cause of the delay matters more than its length.
Bombay High Court acquits an accused in a POCSO case, highlighting that DNA reports alone are not sufficient for conviction if the chain of custody is flawed.
ITAT Chennai held that arm’s length price of interest paid on Fully Compulsory Convertible Debentures [FCCDs] issued in Indian denominated currency is to be determined by adopting average SBI Prime Lending Rate [PLR].
ITAT Jodhpur rules that the CPC cannot deny an 80P deduction on belated returns for assessment years before 2021-22, as it lacked the authority under Section 143(1).
ITAT Mumbai has ruled that when sales are genuine but purchases are bogus, only the embedded profit, typically 3%, should be added to income. The tribunal dismissed a revenue appeal, confirming the principle that entire bogus purchases cannot be disallowed.
The Mumbai ITAT quashed a penalty under section 271(1)(c) against Ideal Energy Projects, citing that merely claiming a deduction is not furnishing inaccurate particulars.
The Allahabad High Court directed the tax department to refund 90% of a disputed tax amount, citing an arbitrary and premature recovery.
Mumbai ITAT rules that late fees under Section 234E are applicable for delayed TDS statement filings that occurred after June 1, 2015, upholding a Rs. 85,200 penalty.
Delhi High Court held that when the transaction is one of trading in land and no specific remuneration is fixed in the deal for acquisition of land, the same would not be liable to service tax. Accordingly, appeal of revenue dismissed.
NCLAT Chennai held that time limit prescribed under Regulation 2B of the IBBI (Liquidation Process) Regulations, 2016 for completing and operationalising scheme of arrangement u/s. 230 of the Companies Act is only directory and not mandatory. Accordingly, extension of further 90 days granted.
