ITAT Delhi removes addition of ₹2.9 Cr by AO in property transaction under Section 69A. CIT(A) accepts purchase and sale documents. Read the full judgment.
Madras HC condoned SKV Industries 5-day delay in filing an appeal against a GST assessment order and directed the Appellate Authority to review the case on merits.
Shri Shyam Industries Private Limited Vs Prosperity Steels Limited (NCLT Kolkata) In the case of Shri Shyam Industries Private Limited –vs.- Propserity Steels Ltd. [CP (IB) No. 998/KB/2018, Kol dated 18-02-2021], the Resolution Applicant sought various reliefs and concessions. In response to the same, NCLT has held as under: – With respect to waiver of […]
ITAT Mumbai grants partial relief to Ramniklal & Sons in the bogus purchase case, directing reassessment based on judicial precedents.
Bombay High Court allows revision under Section 264, addressing double taxation and rejecting the need for a revised return under Section 139(5).
PCIT’s revisionary order under Section 263 was unjustified if PCIT failed to demonstrate how the original assessment was erroneous and prejudicial to the interest of revenue
Madras High Court allows Ohm Srinivasa Paper Boards to pay pending excise tax dues in 12 monthly installments, directing partial payment starting August 2024.
Rajasthan High Court dismisses PCIT appeal under Section 263, citing tax demand below Rs. 2 crore in case of Pratap Technocrats Pvt Ltd for AY 2018-19.
The difference in the fair market value and the issue price of compulsory convertible preference shares was only 0.65%, therefore as per Rule 11UA issue price was deemed to be fair market value and hence no scope for addition required to be made u/s. 56(2)(viib).
Volvo Group India Pvt Ltd. Vs Union of India (Bombay High Court) Conclusion: The order of the original authority becomes merged with the order of the Revisionary Authority. Since the Revisionary Authority was located within the territorial jurisdiction of the Principal Seat of this Court, assessee had the option to file the petitions here or […]
