ITAT Indore held that rate of interest on secured loan from banks cannot be compared with the rate of interest on unsecured loan. Accordingly, disallowance of interest u/s. 40A(2)(b) of the Income Tax Act deleted.
Bombay High Court held that half-hearted approach on the part of AO to make additions on the issue of bogus purchase would not be conducive. Bogus purchase addition also cannot be on the basis of superficial inquiry.
Bombay High Court held that issuance of notice under section 148A of the Income Tax Act by Jurisdictional Assessing Officer and not by a Faceless Assessing Officer as required by the provisions of section 151A of the Income Tax Act is liable to be quashed.
Madras HC sets aside dismissal of GST appeal for delay, remands case to the appellate authority for fresh consideration despite the time-barred filing.
Delhi HC grants interim protection to a petitioner alleging misuse of GST credentials for ITC claims, pending further investigation and hearing.
NCLT Amravati held that application filed by SBI (creditor) u/s. 95 of the Insolvency and Bankruptcy Code, 2016 for initiation of insolvency procedure dismissed as demand notice not served to Personal Guarantor on correct address.
Bombay High Court held that amount payable has been quantified before 30th June 2019 and hence eligible to avail benefit under Sabka Vishwas Legacy Dispute Resolution Scheme (SVLDRS).
Karnataka High Court held that settlement commission, accepting additional income offered as reasonable and giving immunity from penalty and prosecution, by accepting the explanation ‘in the spirit of settlement’ cannot be faulted.
Rajasthan HC ruled that appeals should be considered on merits, even if filed late, quashing a CGST order dismissing an appeal as time-barred.
Allahabad High Court stays a demand of Rs. 47 crores in service charges against IIT Roorkee by Municipal Corporation.
