Delhi High Court held that repeated placing of the matter in the call book is not a valid justification for non-adjudication of show cause notice for about 15 years. Accordingly, order passed is liable to be quashed due to delay in adjudication.
AO had raised queries on two issues i.e. (i) assessee claimed only 15% depreciation on the Higher Efficiency Boilers (being energy saving device), when it was eligible for depreciation allowance of 80% on the Written Down Value (WDV).
NCLAT ruled that issue of whether workers were entitled to claim their dues under Industrial Disputes Act during layoff period should be decided by appropriate labour authorities and not within CIRP proceedings.
After considering submissions made by both parties it is held that there is no dispute that the appellant stood as a guarantor for the loan availed by the CD which has already been admitted into CIRP
Every deposit in the bank account cannot always be an income. Therefore, condition of deposit of advance tax could not be imposed blindly without considering contention of assessee that his income was below the taxable limit.
ITAT Surat allows appeal in the case of Kiwans Farsuram Bhamwala Vs ITO. Case remanded to AO for fresh examination, granting assessee another hearing opportunity.
Entities advancing general public utility could engage in trade or business only if such activities were incidental to their primary charitable objectives and adhered to specific quantitative thresholds.
ITAT Delhi upholds penalty under Section 271(1)(b) against Sanjay Dalmia for not signing consent waiver form related to undisclosed HSBC bank account details.
ITAT Kolkata rules on property valuation under Section 56(2)(vii)(b) and jurisdiction in limited scrutiny cases for AY 2014-15, allowing Nisha Gupta’s appeal.
NCLAT Delhi held that assignment agreement establishes absolute right of the corporate debtor over the property hence it is part of liquidation estate. Payment of unauthorised sub-letting charges doesn’t mean any valid sub-letting of property.
