Tribunal emphasizes requirement of notice under section 153C for assessments in block period, quashing AY 2021-22 assessment framed without jurisdiction.
The ITAT remitted the issue to the CIT(A), noting that exemption provisions were wrongly applied to a non-qualifying investor. The takeaway is that exemption claims in share premium cases must match statutory definitions and evidence.
ITAT held that a protective addition under section 56(2)(vii)(b) could not survive once related substantive addition had been deleted in subsequent year. Ruling confirms that protective additions cannot stand independently when their basis no longer exists.
The Orissa High Court set aside the rejection of a GST appeal, allowing it to be heard on merit after the petitioner deposited the required pre-deposit amount under Section 107(6).
HC ruled that industry’s predominant activity was not chemical processing, rendering cess assessments without jurisdiction. It ordered all assessments to be quashed and directed refund of cess collected.
The Commission found prima facie evidence that restrictive actions and refusal of approval may have denied market access to private event organizers. It ordered a DG investigation into alleged violations of Sections 3 and 4 of the Competition Act.
CAAR held that crude rapeseed and canola oil meet statutory definition of low erucic acid oil and must be classified under 1514 11 20. It also confirmed a CEPA duty rate of 8% for 2025–26.
The case examines whether rig components leased from an FTWZ to a DTA unit qualify for IGST exemption under Serial No. 557B. The ruling focuses on conditions for claiming the exemption and the treatment of SEZ-based leasing transactions.
CAAR held that power recliners used exclusively in motor vehicle seats fall under Heading 9401, as seat parts are more specifically classified there than under general motor-vehicle parts. The key takeaway is that specific tariff entries prevail over general ones.
Supreme Court dismissed SLPs, confirming that DTAA rates override Section 206AA for non-residents without PAN. The case follows the Air India ratio, providing legal finality on TDS obligations.
