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Judiciary

Mauritius Fund Allowed to Carry Forward Capital Losses Despite DTAA Exemption on Gains

April 27, 2025 720 Views 0 comment Print

ITAT Mumbai allows Mauritius fund to carry forward capital losses under Indian law while claiming DTAA exemption on pre-2017 share gains.

GST Appellate Authority Must Consider Condonation of Delay Beyond One-Month

April 27, 2025 1716 Views 0 comment Print

Calcutta High Court restores GST appeal in Phonex Traders case, condoning delay due to valid reasons and directing fresh hearing within 12 weeks.

Reassessment on deceased assessee declared void ab initio: ITAT Surat

April 27, 2025 1830 Views 0 comment Print

ITAT Surat ruled that reassessment of deceased person is void ab initio, quashing the order and allowing the appeal in Bharat Ranchod Vs ITO case.

Section 12A Registration Granted to Charitable Trust Despite Trustee Remuneration Clause: ITAT Cochin

April 27, 2025 7524 Views 1 comment Print

ITAT Cochin grants 12A registration to Naughty’s Pet Sanctuary, ruling against CIT(E)’s decision over trustee honorarium clause.

GST Registration cannot be cancelled Based on HSN/SAC Code Without Rule 21 Compliance

April 26, 2025 10137 Views 0 comment Print

Allahabad High Court held that cancellation of GST registration without following condition prescribed under Rule 21 of GST Rules merely on the bass of reflection of HSN/SAC Code in registration application is not sustainable.

Penny Stock & Manipulated Transactions: ITAT denies LTCG Exemption Claim

April 26, 2025 1698 Views 0 comment Print

ITAT Mumbai rules on Usha Chandresh Shah’s appeal against treating share sale proceeds as cash credit instead of long-term capital gains.

HC Upholds Addition on Bogus Share Transactions Due to Rapid, Structured Dealings

April 26, 2025 714 Views 0 comment Print

Punjab & Haryana HC dismisses Balbir Chand Maini’s appeal, upholding ITAT’s finding of a non-genuine share sale transaction and income addition.

Section 68 Addition justified if Share purchase & sale transactions were deemed bogus

April 26, 2025 1098 Views 0 comment Print

Punjab & Haryana HC affirms ITAT order, treating Chandan Gupta’s share sale gain as unexplained income (Sec 68) due to bogus transactions.

No LTCG Exemption on Sale of Shares if Purchase was Bogus: ITAT Mumbai

April 26, 2025 936 Views 0 comment Print

ITAT Mumbai upholds treating Ratnakar Pujari’s share sale proceeds as unexplained cash credit due to a previously established bogus share purchase.

LTCG exemption cannot be denied on penny stock sale without adverse evidence

April 26, 2025 996 Views 0 comment Print

ITAT Delhi hears Shikha Dhawan’s appeal against LTCG denial on penny stock sale, deemed unexplained income. Accommodation entry alleged.

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