ITAT Bangalore restored ₹4.19 crore claimed as revenue loss to CIT(A) for fresh examination. The Tribunal emphasized that proper assessment under Sections 37(1) and 28 is essential before allowing write-offs.
The SC upheld reopening of completed assessments where key agreements were not disclosed. It held that failure to place primary documents enables reassessment beyond the four-year limit.
The Orissa High Court held that while writ petitions can be entertained if the GSTAT is non-functional, once the tribunal is operational with extended filing timelines, statutory compliance under Section 112(8) is mandatory.
ITAT Bangalore condoned a 247-day delay in filing appeals caused by email miscommunication and change of accountants. The Tribunal restored Section 80P(2)(a)(i) deductions for cooperative society interest income.
The court directed the Board of Advance Rulings to expedite the disposal of a pending application under Section 245Q, ensuring timely filing of tax returns by the petitioner.
The court directed the refund of TDS erroneously deducted from an arbitral award, ruling that interest on the TDS is not payable. The Execution Petition was disposed of accordingly.
The Tribunal held that foreign investments disclosed in Schedule FA and backed by sufficient income cannot be treated as unexplained. Mechanical application of section 69 was rejected.
While allowing proceedings to continue, the Court restrained enforcement of any final order arising from the show cause notice pending further directions.
ITAT held PCIT cannot revise assessment where penny stock LTCG transactions were fully examined and AO adopted a permissible view.
The High Court upheld the tribunal’s decision, emphasizing that statements of pancha witnesses and co-notices cannot be relied upon without allowing cross-examination, ensuring fair adjudication under the Central Excise Act.
