The ruling emphasizes that registering numerous FIRs in mass fraud cases is unnecessary and burdensome. Courts must focus on whether the acts constitute the same transaction under criminal procedure law.
The Supreme Court held that an undertaking to arrange fund infusion does not amount to a guarantee under contract law. Without a clear promise to discharge the borrower’s debt, no liability can be enforced against the promoter.
The ruling highlights that immunity under DTDRS is general to penalty proceedings. Consequently, revising penalties merely because a different section might apply is impermissible.
The Revenue sought to tax total on-money collected under section 69A. The ITAT ruled that on-money forms part of business receipts and must be assessed on a profit basis. The key takeaway is that taxation cannot ignore unaccounted expenses linked to such receipts.
ITAT Mumbai held that alleged bogus purchases cannot be disallowed when the assessee provides invoices, receipts, bank proofs, and GST compliance. The ruling confirms that suppliers’ non-filing alone is insufficient for disallowance.
The Revenue sought to reopen completed assessments under section 153A without fresh incriminating evidence. The Tribunal ruled that such additions are barred, following Kabul Chawla and Abhisar Buildwell.
The Tribunal upheld reassessment based on Investigation Wing material alleging accommodation entries. It ruled that such tangible inputs justified reopening despite a completed scrutiny assessment.
The Tribunal held that delayed filing of an audit report cannot justify wholesale disallowance of expenses at the CPC processing stage. Such action falls outside the limited scope of Section 143(1) adjustments.
NCLAT Delhi held that remedial directions contained in earlier judgement will apply to WhatsApp user data collection and sharing for all non-WhatsApp purposes which includes non-advertising and advertising purposes. Accordingly, application of commission is allowed.
The Tribunal held that reassessment initiated beyond three years requires approval from the Principal Chief Commissioner or Chief Commissioner. Sanction granted by the PCIT was invalid, rendering the entire reassessment void.
