Supreme Court examines Bombay High Court’s decision on deemed conveyance under MOFA. Case involves property partition, developer obligations, and competent authority’s jurisdiction.
ITAT Raipur held that reopening of proceedings under section 148 of the Income Tax Act beyond a period of 4 years without failure on the part of the assessee to disclose fully & truly all the material facts is liable to be annulled.
Karnataka High Court held that reassessment order under section 148 of the Income Tax Act is bad-in-law since passed without following mandatory procedure of disposal of objections. Accordingly, order of reassessment set aside.
ITAT Ahmedabad held that addition invoking provisions of section 50C(2) of the Income Tax Act without referring the valuation of the capital asset to the valuation officer is not justifiable. Accordingly, matter restored back to AO to refer the matter to valuation officer for determining Fair Market Value.
Madras High Court held that writ against order confirming demand towards difference between Input Tax Credit (ITC) availed in GSTR -3B and ITC available as per GSTR – 2A dismissed due to availability of efficacious remedy.
Mumbai ITAT held that CIT(A) cannot dismiss Mechanically an appeal solely on delay grounds without adjudicating the issues raised on merits. Tribunal condoned delay after noting that the assessee’s father had passed away and directed fresh disposal on merits.
Tribunal remanded the matter after finding that the appellate authority dismissed the appeal mechanically without examining the assessee’s grounds.
NCLAT Delhi held that the communication of Section 8 Demand Notice via registered email address of Corporate Debtor is valid service of demand notice. Accordingly, admission of application under section 9 of the Insolvency and Bankruptcy Code justifiable.
Chhattisgarh High Court held that upholding of addition by CIT(A) and ITAT merely on the basis of non-appearance without deciding the same on merits and complying with provisions of section 250(4) and 250(6) of the Income Tax Act is not justified.
SEBI penalty on Deccan Chronicle’s Company Secretary overturned. Tribunal rules Company Secretary not responsible for verifying audited financial statements in buyback offer.
