In the matter aforementioned ITAT deleted addition made on account of Client Code Modification after observing that assessee utilized its own funds to conduct transactions on NSEL platform and the profits from such transactions have already been offered to tax.
ITAT Mumbai rules that a Section 143(1) adjustment becomes infructuous once a regular assessment under Section 143(3) is completed, especially if the returned income is accepted as the assessed income.
Gujarat HC stays coercive action over GST on royalty payments for quarry leases under the Gujarat GST Act, pending related petitions.
In the recent ruling HC of Telangana have held that assessee is eligible to claim capital gain after observing that the possession of the immovable property has not been handed over to the developer as contemplated u/s 53A of the Transfer of the Property Act, 1882.
Delhi High Court sets aside GST demands on Metalax Industries, ruling that parallel proceedings by State GST and DGGI cannot proceed simultaneously.
ITAT Ahmedabad condones a 340-day delay in an appeal on unexplained cash deposits under Section 69A and remands the case for fresh adjudication.
Allahabad High Court quashes a GST revision order, finding it contradictory and unclear. The court clarifies the maintainability of revisions under Section 108 of the CGST Act, emphasizing that the mere availability of an appeal doesn’t bar a revision.
ITAT Mumbai quashes CIT(A)’s order dismissing HPCL’s appeal, citing non-compliance with prior tribunal directives. The case involves interest on refunds and the now-defunct Vivad Se Viswas Scheme. The tribunal mandates a fresh hearing on the merits of the case.
Key ITAT Delhi decision in ACIT Vs Hella India Lighting Ltd.: Analysis of Section 69C addition, expense disallowance, and foreign exchange loss claims for AY 2017-18.
Allahabad HC quashes two Section 154 tax orders, citing laconic reasoning and violation of natural justice. Fresh hearing ordered.
