Relying on the spirit of Section 62, the Court ruled that compliance after delay nullifies best judgment assessments, though interest liability may remain.
With the seizure order set aside, the Court ordered refund of amounts deposited. The decision reinforces proportionality in GST enforcement actions.
The ITAT held that reassessment under Sections 147/148 is invalid if based solely on investigation reports, emphasizing the need for independent AO satisfaction.
The AO was directed to recompute capital gains based on DVO valuation but had ignored indexation. The Tribunal ruled that recomputation without indexation is legally impermissible.
ITAT held that CSR expenditure disallowed under section 37 can still qualify for deduction under section 80G. The ruling clarifies that both provisions operate independently.
PVDF used as a cathode binder was held classifiable under tariff item 3904 69 90. The ruling clarifies treatment of fluoropolymers lacking a specific tariff entry.
ITAT Ahmedabad ruled that credit entries in the assessee’s account were correctly assessed, even though initial cash deposits belonged to a company, ensuring proper attribution of income.
The authority ruled that a heater used in frost-free refrigerators remains classifiable as an electric heating resistor. The key takeaway is that functional heating identity prevails over end-use.
CAAR held that wheat seed oil ceramides subjected to purification and standardisation cannot be treated as simple vegetable extracts under Heading 1302.
The Revenue relied only on the builder’s settlement disclosure to tax the buyer. The ITAT held that third-party admissions, without corroboration or cross-examination, cannot fasten liability on the assessee.
