Bombay High Court overturns income tax reassessment notice for NuPower Renewables, citing no new information and prior scrutiny of share capital.
Delhi High Court held that where notice is sent electronically, the date of dispatch of e-mail is to be considered as date of issue of notice and date of digital signature is irrelevant. Accordingly, petition dismissed.
Patna High Court rules GST recovery without waiting period illegal, orders refund with interest. Remands ITC claim case due to new Section 16(5) CGST Act
CESTAT Chennai held that delay of 20 days in passing review order without extension order of the Board is not condonable. Accordingly, order passed by Commissioner of Customs (A) upheld.
ITAT Jodhpur held that reassessment notice under section 148 of the Income Tax Act issued by Jurisdictional Assessing Officer is bad and invalid since the same needs to be issued by National Faceless Appeal Centre. Thus, assessment order passed thereon is quashed.
As stated earlier, appellant had raised objection on 15.01.2022 against re-opening but the same was not disposed of by AO by passing a speaking order as per guidelines issued by SC in case of KGN Driveshafts.
ITAT Pune rules excess stock found at Kolhapur Timber during survey is business income, not unexplained, directing normal tax rates. Cites multiple precedents.
On the other hand, it was submitted by the that the state-of-the-art Auditorium is used for conducting seminars, workshops which is integral part of scientific research work by IISc, Bangalore and therefore, assessee is eligible for deduction u/sec.35(1)(ii).
ITAT Chennai held that waiver of amount of loan, whether principal or interest component, cannot be brought to tax under section 41(1) of the Income Tax Act. Accordingly, appeal of assessee allowed and addition directed to be deleted.
ITAT Pune rules excess stock declared during survey is business income, not unexplained income under 115BBE, if linked to regular business activities.
