Calcutta High Court issues interim order on ITC denial when suppliers are insolvent. It examines if tax authorities’ failure to claim in IBC proceedings affects ITC reversal.
Calcutta High Court voids GST assessment and appeal dismissal for Ram Kumar Sinhal, citing violation of natural justice, improper notice communication via GST portal, and condonable delay.
The Supreme Court of India dismissed a challenge to the retrospective application of an amended GST Rule 89(5) for Inverted Duty Structure (IDS) refunds, affirming a Gujarat High Court judgment.
Disallowance of trading losses due to SEBI’s ad-interim order and lack of detailed scrutiny by tax authorities.
Gauhati High Court directs immediate restoration of a resort’s GST registration, cancelled due to non-filing, contingent on filing pending returns and paying all statutory dues.
Assessee was engaged in agro-based trading, faced reassessment for Assessment Year (AY) 2017-18 based on information from a survey under Section 133A conducted at premises linked to Shri Ashok Kumar Gupta and associates.
Madras High Court held that imposition of penalty u/s. 112 of the Customs Act, 1962 based on case of the person from whom gold was seized without independently considering the case of the petitioner is not justifiable. Accordingly, court directed to grant one more opportunity to the petitioner.
ITAT Pune held that disallowance under section 40(a)(ia) of the Income Tax Act cannot be sustained interest income is already reflected in the return of the deductee and tax is already paid on the same. Accordingly, appeal allowed to that extent.
Jammu and Kashmir High Court granted bail to the petitioner caught in alleged illicit drug on the ground of medical condition of the petitioner. Accordingly, the writ allowed and bail granted.
The balance tax demand was also paid. Later, the Revisional Authority issued a notice under Section 64, claiming the appellate order was prejudicial to revenue. Assessee objected, stating that once benefits under the Scheme were granted, revision was not permissible.
