The Tribunal held that rural agricultural land excluded from capital asset under Section 2(14) cannot be taxed under Section 56(2)(vii)(b). Addition based on stamp duty valuation was therefore deleted in full.
The Tribunal held that serving notices on an outdated email ID violates principles of natural justice. The assessment was set aside and the matter restored for fresh adjudication after proper service.
The authority ruled that carbon pultruded plates are not carbon fibre under the amended exemption notification and therefore cannot claim concessional duty as raw materials, clarifying the limited scope of the revised entry.
AAR Mumbai held that architecturally finished stainless steel wall panels retain the character of flat-rolled products and must be classified under Heading 7219, not as structural parts or miscellaneous articles.
The authority examined whether a plastic nozzle connector should be taxed as a general plastic article or as machinery parts. It held that exclusive and indispensable use in washing machines requires classification as a machine part under heading 8450.
The ITAT held that income addition based solely on Form 26AS differences cannot survive when books are audited and no defects are found.
NCLAT held that a rights issue offering proportionate shares to existing shareholders does not by itself dilute a corporate debtor’s stake and refused to restrain the proposed EGM.
The tribunal ruled that unpaid municipal property tax backed by a statutory first charge qualifies as secured debt in liquidation. The key takeaway is that statutory charges under municipal law can confer secured creditor status under the IBC.
The Tribunal ruled that cash deposits arising from regulated liquor sales are a normal business incident. Where bank reconciliations explain the source, Section 69A cannot be invoked.
GSTAT upheld that the benefit of GST reduction from 28% to 18% was not passed on to consumers and directed recovery of ₹19.32 lakh as profiteering, to be deposited in Consumer Welfare Funds.
