ITAT Delhi directs segment-wise ALP, includes Fiberfox comparable, and rejects notional interest on AE dues for Opterna Technologies, remits Section 68 issue.
ITAT Jaipur held that reopening under section 148 r.w.s. 148A is bad-in-law and liable to be quashed in as much as reopening was merely on the basis of change of opinion. Accordingly, appeal of assessee allowed and reopening quashed.
Supreme Court rejects resolution plan of JSW since Successful Resolution Applicant (JSW) did not implement the Resolution Plan for about two years since its approval by the NCLAT, though there was no legal impediment in implementing the same.
ITAT Bangalore held that disallowance of entire royalty payment by taking ALP at NIL not justified since there is no change in facts, circumstances or functions and hence principle of consistency should be applied.
Supreme Court held that a married daughter may be considered a legal representative, but, she will not be eligible for loss of dependency compensation unless it is proven by the daughter that she was financially dependent on the deceased.
Delhi High Court held that Magistrate not empowered to order/ direct fresh revaluation of smuggled goods at the preliminary stage of investigation. Accordingly, direction for revaluation of goods is unsustainable in law.
ITAT Bangalore held that delay of 38 days caused due to mistaken belief of Chartered Accountant (CA) is a sufficient cause and hence condonable. Accordingly, delay condoned and appeal to be decided on merits.
Supreme Court sets aside customs duty on imported crude degummed soyabean oil, ruling it’s not an agricultural product under the exemption. Your Taxguru Consultancy & Online Publication
ITAT rules surcharge not applicable for private trust income below ₹50 lakh for AY 2023-24 & 2024-25, citing Araadhaya Jain Trust precedent.
Gujarat AAR rules Indian company cannot claim GST credit on imported warranty parts where foreign supplier paid the import tax, value not in outward supply.
