The Tribunal considered whether RTGS credits constituted unexplained money. It ruled that once sale bills, customer ledgers, and bank entries align, Section 69A has no application.
Karnataka High Court held that jurisdiction under Article 226 read with section 482 of Cr.P.C. is exercisable only in exceptional circumstances. Thus, interim bail stands rejected since present matter cannot be termed as exceptional.
The decision reiterates that once the assessees death is known, proceedings must restart with a valid notice to the legal heir. Failure to do so makes the assessment unsustainable.
This case addressed whether tax appeals survive a moratorium under insolvency law. The ruling confirms that income tax proceedings stand stayed once a moratorium is imposed.
The Tribunal held that no profiteering arose where the ITC-to-cost ratio declined after GST. The key takeaway is that absence of GST-led savings defeats section 171 allegations.
The authority held that an advance ruling cannot be issued when the same classification issue is already pending before customs officers. Since a show cause notice had been issued earlier, the application was barred under Section 28-I of the Customs Act.
Emphasising settled law, the Tribunal ruled that properly documented loan transactions cannot be rejected without cogent contrary material. The CIT(A)s deletion of additions was therefore affirmed.
The Tribunal held that reassessment initiated after three years without approval from the statutorily specified higher authority is invalid. Improper sanction under Section 151 vitiates the entire proceedings.
Clarifies that constitutional court judgments declare the law retrospectively by default. Holds that tax authorities cannot treat such rulings as merely prospective.
The issue was whether final assessment orders passed after DRP directions were barred by limitation under section 144C read with section 153. The Tribunal held that such orders passed beyond the statutory time limit are without jurisdiction and must be quashed.
