Chhattisgarh High Court allows the bail application in Rs. 4000 Crore liquor scam case in the absence of any distinguishing material against the applicant. Accordingly, the present bail application is allowed.
Jharkhand High Court held that levy of electricity duty on the basis of ‘net charges’ as introduced by the 1st Amendment Act, 2021 is ultra vires to the Bihar Electricity Duty Act, 1948. Accordingly, 1st Amendment Act, 2021 and the Rules, 2021 are declared ultra vires to the Act, 1948.
The Supreme Court examined whether shares received on amalgamation can be taxed as business income when held as stock-in-trade. It ruled that tax arises only if the substitution results in a real, commercially realizable gain, not a mere statutory replacement.
The issue was denial of regular 80G approval due to an inadvertent filing under an incorrect clause. The Tribunal held that a procedural mistake should not bar substantive adjudication.
The issue was whether total purchases could be treated as unexplained expenditure under section 69C. The Tribunal held that only the profit element is taxable in a small retail trading business.
he revision targeted 80G deduction and interest under TDS/TCS provisions. The Tribunal found that the Assessing Officer had examined both issues and no prejudice was shown.
The assessee challenged a large section 14A disallowance on procedural and factual grounds. The Tribunal upheld satisfaction but ordered recomputation after excluding mutual fund investments.
Holding that there was no real delay, the Tribunal directed grant of section 80G approval. The decision stresses practical and reasonable interpretation of filing timelines.
An addition based on a third-party statement was challenged for denial of cross-examination. The Tribunal held that natural justice must be followed and directed a fresh hearing.
The issue was whether reassessment beyond three years was valid without approval from the correct authority. ITAT held the notice void as sanction was taken from the wrong officer, reaffirming strict compliance with Section 151.
