The High Court held that penalty under Section 271D cannot be levied without the Assessing Officer recording satisfaction regarding violation of Section 269SS. In the absence of such finding in the assessment order, the penalty was set aside.
The Tribunal held that mere acceptance of demonetized currency during the demonetization period cannot justify addition under Section 68 when identity, genuineness, and source are established. Revenue’s appeal was dismissed.
The Gujarat High Court held that when exported goods qualify as zero-rated supply and no tax is payable, penalty under Section 129 for E-way bill expiry is unsustainable. Refund of ₹18 lakh was directed.
The Tribunal initiated CIRP under Section 7 after finding undisputed debt exceeding ₹10.91 crore and admission of insolvency by the Corporate Debtor.
Supreme Court held that simultaneous proceedings for Corporate Insolvency Resolution Process [CIRP] under Insolvency and Bankruptcy Code against the principal debtor as well as corporate guarantor is maintainable.
The Supreme Court held that a delayed and inoperative scheme under the Companies Act cannot stall CIRP, restoring insolvency proceedings under Section 7 of the IBC.
Rule 81 prescribes dataset construction, weighted averages, and a 35th–65th percentile arm’s length range when multiple comparable prices arise, with the median applied if the transaction falls outside the range.
The Court declined to entertain a writ petition challenging GST registration cancellation because statutory remedies under Sections 30 and 107 were available. It directed the petitioner to pursue revocation or appeal under the State GST Act.
The AAR held that flavored non-alcoholic beverages without fruit pulp fall under tariff item 22029990 and attract 20% CGST plus 20% SGST under Schedule III.
The AAR held that although security services to FCI qualify as pure services related to Public Distribution System functions, exemption under Notification 12/2017 is unavailable as FCI is not Central/State Government or local authority.
