ITAT Mumbai held that addition u/s. 68 of the Income Tax Act towards unexplained cash credit unjustified as sale consideration of shares duly reflected in the profit and loss account of the assessee.
NCLAT New Delhi held that prior NOC from stock exchanges under Regulation 37(1)(2) the SEBI (Listing Obligation and Disclosure Requirements), Regulations, 2015 [LODR] is not required for schemes for revival of companies undergoing liquidation under the Code.
ITAT Mumbai held that holding period of the capital goods includes the date on which asset is acquired and also date of sale/ transfer of the same. Accordingly, shares held for exactly 12 months treated as long term.
Calcutta High Court held that application for setting aside of an award under section 34 of the Arbitration and Conciliation Act, 1996 cannot be made after three months from the date of arbitral award. Thus, application made after the time period is barred by limitation.
CESTAT Delhi held that the amount of redemption fine imposed by the Commissioner in the impugned order is equal to the value of the goods itself, the same is harsh, accordingly, concluded that the amount of redemption fine must be reduced.
Delhi High Court held that as directed by Tribunal AO was required to verify and attend grievance of short credit of TDS. Thus, restricting TDS claim of petitioner to disclosures made in return unjustified.
CESTAT Bangalore held that rejecting request for amendment of declared value in bill of entry (BOE) without awaiting outcome of DRI investigation not justified. Accordingly, order set aside and matter remanded back to adjudication authority.
Supreme Court held that non-execution of sale deed is a civil wrong and a civil wrong cannot be given a criminal colour merely to coerce the appellants into registering the sale. Thus, criminal proceeding not allowed to be continued.
ITAT Raipur held that law will help only those who are vigilant and will not assist the one who are careless. Accordingly, request of assessee to restore matter back not granted as assessee has chosen not to represent its matter for more than 08 years.
Madras HC quashes GST order against Tvl. Zen Machine Tools for lack of personal hearing. Case remanded for reconsideration, bank account attachment lifted.
