Calcutta High Court orders National Jute Manufactures Corporation (NJMC) to refund pre-bid earnest money, deeming forfeiture unfair and arbitrary.
Calcutta High Court allows GST appeal to be heard on merits despite delay, affirming Section 5 of Limitation Act applies, unaffected by Supreme Court’s stay on a precedent.
Gujarat High Court recently clarified that the omission of Rule 96(10) of the CGST Rules, effective October 8, 2024, applies to all pending IGST refund cases for exporters. This ruling addresses difficulties faced by exporters claiming refunds on IGST paid on exported goods.
ITAT Chennai rules Section 6 of the Income Tax Act prevails over a Tax Residency Certificate (TRC) for determining Indian residency. Global income taxable if an individual meets the specified days in India, irrespective of TRC.
Bombay High Court held that in compulsory purchase order declaration of abrogation was not barred by virtue of section 269-UH and/ or section 293 of the Income Tax Act. Accordingly, order passed by Single Judge not sustainable.
Supreme Court held that no priority of interest can be claimed by the Secured Creditors against the properties attached under Maharashtra Protection of Investors and Depositors Act, 1999 [the MPID Act].
Delhi High Court held that Larger Bench of Delhi High Court will decide the whether provisions of section 149(1)(c) of the Income Tax Act inserted by virtue of the Finance Act, 2012 will be applicable retrospectively in concluded assessment.
ITAT Jaipur held that addition under section 68 towards cash deposit in bank as unexplained cannot be sustained since source of cash deposited duly explained. Accordingly, addition of around Rs. 8.60 Crores deleted.
Delhi High Court held that IT/ITeS would fall within the definition of ‘Industrial Building’ as envisaged under Bye-law 9(e) of DMC Property Tax bye-law 2004 and therefore, demand of property tax rightly set aside.
Madras High Court held that block assessment order passed u/s. 143(3) r.w.s. 158BC of the Income Tax Act has been passed within the period prescribed u/s. 158BE(1)(b) of the Income Tax Act and hence not barred by limitation.
