ITAT Mumbai quashes reassessment order in Raghunandan Bhomia vs DCIT case, citing failure to provide reasons for reopening assessment, violating legal precedents.
ITAT Chennai held that exemption under section 11 of the Income Tax Act is allowable inspite of certain errors while filing form 10B since the claim is supported by audited financials, revised audit report and revised computation.
CCI orders investigation into TASMAC’s alleged abuse of dominance, limiting beer brand access in Tamil Nadu, following informant’s complaint.
ITAT Delhi held that disallowance under section 14A of the Income Tax Act is liable to be deleted in as much as fresh investment is made out of sufficient own interest free funds in the shape of reserve and capital.
Madras High Court quashes GST assessment order, mandates personal hearing, and allows document submission after 10% tax deposit.
NCLT Delhi held that resolution plan of corporate debtor Dev Versha Publication Private Limited submitted by resolution professional is approved since the same was approved by 100% voting share of CoC.
ITAT allows depreciation on goodwill from Jet Airways slump sale citing SC precedent, but remits quantum calculation to AO for AY 2015-16.
ITAT Kolkata directs AO to allow Foreign Tax Credit for Jaspal Singh Bindra, ruling that delayed Form 67 filing is a procedural issue. Read the case summary.
ITAT Kolkata directs AO to allow Foreign Tax Credit to Debanjan Chatterjee, overturning CPC Bengaluru’s denial due to belated filing. Read the full case summary.
Assessee did not file a revised return in response to the Section 148 notice nor did she request the AO to treat her original return as the one filed under the said notice. The court cited the GKN Driveshafts judgment, stating that the assessee should file a return and then seek reasons for reopening.
