NCLAT Delhi held that CoC decision to liquidate the Corporate Debtor is acceptable as corporate debtor has no assets and thus CIRP Period only implies zero returns. Thus, adjudicating authority order accepting liquidation upheld.
ITAT Surat quashes CIT(A) order for not considering assessee’s submissions, directing the AO to reassess the case with due opportunity for the assessee.
The assessee is into development and construction of a project. The case was selected for scrutiny and AO issued notices u/s 142(1) and 143(2) of the Act, calling for certain details.
CESTAT Chennai ruled that Volvo can import internal combustion engines under DFIA license without restrictions to tractor-related parts.
ITAT Delhi invalidates reassessment due to non-application of mind in approval under Section 151 of the Income-tax Act, impacting jurisdiction under Section 147.
ITAT Mumbai held that disallowance under section 40(a)(ia) of the Income Tax Act unjustified when reimbursement of expenses is considered as receipts in total income and tax is paid on the same therefore no disallowance in terms of proviso to section 201.
ITAT Bangalore rules co-op societies can’t claim Sec. 80P(2)(d) deduction for interest from co-op bank deposits, citing Totgars Society case precedents.
ITAT Ahmedabad held that the development rights in the land were not the land itself and, therefore, the provision of section 50C of the Income Tax Act was not applicable on transfer of development rights in the land.
ITAT Delhi dismisses Revenue’s appeal on cash deposits and liability cessation, citing CBDT’s monetary limits for tax disputes under Circular No. 09/2024.
Jammu & Kashmir High Court directs tax authorities to correct PAN errors in challans and release pending refund to Kashmir Tubes. Read the case summary here.
