Supreme Court disposes of ACIT vs. Sangeeta Bhoolabhai case, following rulings in Rajeev Bansal and Siemens Financial Services.
Telangana HC directs authorities to act on MTS Vallabha’s de-notification request for land wrongly listed as prohibited due to attachment.
Karnataka High Court quashed an ex-parte GST order against Nakoda Auto Distributors, allowing them to respond to notices after their father’s illness prevented timely action.
Gujarat High Court overturns ITAT, upholds tax reassessment notices based on suppressed sales data from Central Excise investigation in PCIT vs Gokul Ceramics.
Gujarat High Court upholds tax reassessment notice for AY 2010-11 against Jayant Security And Finance Ltd. over alleged bogus loan transactions.
Supreme Court overturns penalty on PwC for a genuine error in income tax return, noting clear disclosure in tax audit report negated intent to conceal.
Delhi High Court directs CA Yogendra Singh Balyan to appeal penalty order in alleged fraudulent duty drawback case; declines writ petition.
Kerala High Court held that penalty under section 117 of the Customs Act cannot be sustained since no reasons are assigned for imposition of the same. Further, since main allegation against employee set aside, penalty u/s. 117 cannot be sustained.
ITAT Ahmedabad held that addition u/s. 69A towards unexplained money [on-money transaction] simply on the basis of presumptions without any concrete evidence is liable to be deleted. Accordingly, addition u/s. 69A deleted as it lacks a valid basis.
ITAT Kolkata held that re-assessment proceedings initiated under section 148 of the Income Tax Act without any tangible material and without independent application of mind is not sustainable in law. Accordingly, reassessment is quashed.
