Tribunal remanded the case to the AO to reassess ULIP maturity receipts treated as unexplained investment after the exemption claim was not evaluated earlier.
The Court ordered respondent No. 4 to consider and decide the petitioner’s GST refund representation. No findings were made on merits, and all issues remain open.
The case concerns enforcement of a bank guarantee after failure to meet EPCG export obligations. The Court declined to examine merits but directed completion of adjudication on the show-cause notice, clarifying that further action depends on the outcome.
The High Court held that Section 130 cannot be invoked for excess stock found during survey; authorities must follow Sections 73/74 for tax determination. Orders under Section 130 were quashed.
The Tribunal confirmed recovery of erroneously refunded CVD amounts with interest, following the Supreme Court ruling. The appellant’s reliance on prior Tribunal orders was invalidated.
Since valid service of notice was a mandatory jurisdictional requirement before initiating reassessment proceedings, therefore, purported notices issued under Section 148 including reassessment proceedings under
ITAT Bangalore held that mere delay in filing the return of income cannot be construed as a violation so grave as to justify cancellation of registration under Section 12AA(4). Delay in return was unintentional hence cancellation of registration u/s. 12AA not justified.
Telangana High Court held that amount paid towards cancellation of agreement is liable to be disallowed under section 48(i) of the Income Tax Act since the no condition was stipulated in original Memorandum of Understanding hence in absence of contractual obligation the disallowance of said amount is justified.
The Court held that GST registration cannot be cancelled merely for non-filing of returns if the taxpayer has fully paid the tax, interest, and late fees. Authorities must permit return filing and revoke cancellation upon compliance.
Tribunal held that AO did not establish any defect in identity, genuineness, or creditworthiness of share subscribers. Addition under Section 68 was deleted.
