Supreme Court overturns Bombay High Court order, addressing delay condonation and interpretation of ‘sufficient cause’ under Section 5 of the Limitation Act.
ITAT Delhi ruled in Rekha Rani vs. DCIT that penalty under Section 271(1)(b) cannot be imposed for each non-compliance of Section 143(2) notices, only for the first default.
ITAT Delhi quashes Section 271(1)(b) penalty against Charu Modi Bhartia, citing lack of evidence on alleged foreign bank account ownership with HSBC Geneva.
Gujarat High Court quashes cryptic GST cancellation order against Shreeji Rubtech Pvt. Ltd., remanding the case for fresh examination with detailed reasoning.
Assessee being a real estate developer, allotted 10060 equity shares as per the fair market value (FMV) computed in accordance with Sec.56(2)(viib) read with Rule 11U / 11UA.
Karnataka High Court held that proceedings initiated against deceased person are null and void and the same cannot be continued against his/her legal representative. Accordingly, order of Single Judge not interfered.
ITAT Mumbai held that addition towards bogus purchases unwarranted as GP rate on sale of alleged bogus purchases is more than the GP rate of other purchases. Accordingly, appeal allowed the addition deleted.
CESTAT Allahabad held that imposition of penalty u/s. 114AA of the Customs Act not justified since customs broker was not held responsible for forging any documents for clearance of goods. Accordingly, penalty imposed u/s. 114AA set aside.
Kerala High Court held that revisionary proceedings by PCIT u/s. 263 rightly exercised since claim of provision for bad and doubtful debts was assumed by assessing officer to be correct without adequate enquiry. Accordingly, appeal dismissed.
ITAT Agra held that addition towards interest paid on CC is liable to be deleted since interest free advance given to potato growers (farmers) were out of the business expediency. Accordingly, addition deleted and appeal allowed.
