Delta Goods appeal against tax dismissal is remanded by Calcutta HC for fresh consideration after missing response deadlines and filing limits.
An enquiry was initiated by Haryana State Tax Department with regard to wrongful availment of Input Tax Credit against assessee-company and also by multiple DGGI Zonal Units.
Section 263 cannot be invoked without substantial grounds, particularly when the AO has followed due process during the assessment.
The GST registration was cancelled due to non- filing of returns for a period of six months. Assessee argued that, due to health issues, assessee relied on his accountant to file returns, but later discovered they were not filed on time.
Madras High Court held that Settlement Commission not authorized to rectify the order under section 154 of the Income Tax Act as power of rectification vested to Settlement Commission only with effect from 01.06.2011.
Gujarat High Court held that issuance of cryptic notice and order of cancellation of GST registration is also passed without giving any reason by the authorities is unsustainable. Accordingly, order cancelling registration is liable to be quashed.
ITAT Ahmedabad grants stay of tax recovery in Siddhi Parag Patel vs ITO case. The dispute centers on unexplained land investments and tax demand revisions.
ITAT Mumbai held that the Finance Act, 2022 amended section 14A of the Income Tax Act doesn’t have retrospective effect. The said amended provisions are effective from 1st April 2022.
ITAT Mumbai held that invocation of revisionary proceeding u/s. 263 justified as AO was fully ignorant about verification of unsecure loan and addition of 10% unsecured loan by AO was baseless hence assessment order turned out to be erroneous and prejudicial to the interest of revenue.
CESTAT Bangalore held that no excise duty is leviable on the subject goods i.e. [imported ‘Insoluble Sulphur’] and therefore no additional duty will be levied. Accordingly, levy of CVD @10% unsustainable.
