Gujarat High Court held that issuance of notice u/s. 143(2) of the Income Tax Act, after six months from the end of financial year in which return u/s. 139(1) was filed, is barred by limitation and cannot be sustained.
NCLT Mumbai held that the Advance received by the Corporate Debtor against future supply of goods is an Operational Debt. Petition u/s. 9 of Insolvency and Bankruptcy Code admitted since Corporate Debtor failed to pay operational debt.
ITAT Mumbai held that deduction under section 80G of the Income Tax Act eligible towards donations, even if donations are part of Corporate Social Responsibility [CSR] expenditure. Thus, appeal of revenue dismissed.
Kerala High Court declares GST amendments taxing club-member transactions unconstitutional, citing conflict with constitutional definition of supply and service.
Karnataka High Court held that total consideration under composition scheme doesn’t include amount received from customer towards land. Thus, consideration for works contract under composition Scheme of KVAT doesn’t include receipt for land cost.
NCLAT Delhi held that as per section 33(2) of the Insolvency and Bankruptcy Code, CoC is empowered to take decision to liquidate the Corporate Debtor thus resolution passed with 100% vote share directing for liquidation of Corporate Debtor [Go Airlines] justified.
Madras High Court held that denial of cenvat credit on capital goods due to non-production of User Test Certificate not justifiable since revenue has never doubted over the utility or usage of the capital goods. Thus, writ appeal of revenue dismissed.
ITAT allows co-operative society’s appeal for 80P(2)(a)(i) exemption, stating registration under Co-operative Societies Act prevails without RBI license.
ITAT Pune sets aside penalty on Kishor Patil under Section 270A, citing lack of clarity in notice and non-specification of misreporting conditions.
ITAT Mumbai cancels penalty on Smita Ashok Thakkar citing invalid notice under Section 271(1)(c) due to non-striking of relevant limb in penalty notice.
