The ITAT held that for a builder following the project completion method, income arises on handing over possession and not merely on registration of sale agreement. The addition of entire sale consideration under Section 2(47) was ruled unsustainable.
Pursuant to High Court observations and fresh investigation, GSTAT held that the developer did not gain additional ITC benefit warranting price reduction.
GSTAT held that proceedings under Section 74 could not be sustained in absence of fraud or suppression and remanded the matter for fresh determination under Section 73 by the Proper Officer.
The Tribunal held that Section 14A cannot be invoked when no exempt income is earned during the year. It deleted both the additional disallowance and the assessee’s own mistaken disallowance.
The ITAT held that leasing hospital property to a group company did not violate Section 13 since trustees’ shareholding was below statutory limits. Denial of exemption under Section 11 and substitution of notional rent were ruled unsustainable.
The Court held that Section 73 requires a minimum three-month gap between show cause notice and final order. Orders passed within a shorter period were quashed as violative of natural justice.
The High Court ruled that GST adjudication orders must contain detailed facts and reasons. Summary notices and orders lacking particulars were set aside as legally unsustainable.
The Tribunal held that statutory jurisdiction must be strictly followed in income-tax proceedings. In absence of proof of transfer to the assessing ward, the assessment was declared invalid and set aside.
The Tribunal held that failure to provide opportunity to cross-examine foreign information sources amounted to violation of natural justice. Additions based on unverified documents were therefore invalid.
The Tribunal held that interest income arising from working capital used in regular activities retains its character as business income. Section 80P relief cannot be denied merely because income arises as bank interest.
