CESTAT Delhi held that lending of IEC Code is not an offence under the Customs Act. Accordingly, penalty under section 114AA of the Customs Act imposed for the same is not sustainable and liable to be set aside.
ITAT Bangalore held that order rejecting application for approval under section 80G of the Income Tax Act passed by CIT(E) under incorrect name has resulted into confusion and procedural irregularity. Hence, matter remanded for fresh adjudication.
CESTAT Chennai held that that the PVC Regrind is a single thermoplastic material and cannot be classified as waste/scrap. Thus, import of PVC Regrind is not restricted under Foreign Trade Policy.
NCLAT Delhi held that debt and default on the part of Corporate Debtor proved and hence application under section 7 of the Insolvency and Bankruptcy Code duly admissible. Thus, appeal dismissed and order of adjudicating authority upheld.
ITAT Delhi held that addition under section 68 of the Income Tax Act not justified as genuineness and identity of shareholders proved. Accordingly, appeal of revenue dismissed and CIT(A) upheld.
The Odisha High Court ruled that only one valid assessment order can exist for a single tax period, quashing an ex parte order when a merit-based order for the same period already existed.
ITAT Ahmedabad rules an email notice is invalid if the assessee opted for physical notice in Form 35, setting aside an ex-parte order.
ITAT Ahmedabad remands Ratansinh Solanki’s case, setting aside Section 69A additions. Fresh adjudication ordered, allowing admission of additional evidence for cash deposits.
Allahabad High Court sets aside tax penalty on Goverdhan Oil Mill, citing no tax evasion intent in stock transfers despite HSN discrepancy.
Jaipur’s Income Tax Appellate Tribunal rules for Sita Ram Saini, stating cash withdrawn and re-deposited cannot be treated as turnover for profit estimation.
