NCLT Ahmedabad waived the one-tenth shareholding requirement under Section 244(1)(a), allowing former ICEX promoters to proceed with an oppression and mismanagement petition.
The Delhi High Court directed Customs to enforce the 31 January 2025 Order-in-Original and release jewellery seized from two Uzbekistan nationals after payment of redemption fine and compliance with conditions.
The Delhi High Court condoned a 273-day delay in filing an appeal before CESTAT, holding that there was no evidence of deliberate inaction or mala fides by the importer.
ITAT Delhi held that comparable controlled transaction cannot be taken as comparable to benchmark the international transaction. Accordingly, transfer pricing adjustment in respect of international transaction towards payment of royalty deleted.
Madras High Court held that a trust’s legitimate tax exemption cannot be denied merely for delay in filing Form 10B, directing the Assessing Officer to allow benefits under Section 12A.
ITAT Indore held that activity of providing hostel/mess is part of main activity of imparting education. Hence, claim of 15% of gross receipts as eligible exemption under section 11(1)(a) of the Income Tax Act justified.
The Kerala High Court held that revisional powers under Section 263 cannot be invoked when the Assessing Officer has examined and accepted a deduction claim under Section 32AC after due inquiry.
The CESTAT Mumbai ruled that confiscation, fine, and penalty cannot be imposed on IGST demand arising from breach of pre-import conditions under the Advance Authorization Scheme.
CESTAT Chennai held that Enriched Omega 3 Fatty Acid (Fish Oil – Ethyl Ester) and Enriched Omega 3 Fatty Acid-Powder (Fish Oil – Ethyl Ester-Powder) are classifiable under CETH 1516 1000 and not under CETH 3824 9090 as contested by department.
The Madras High Court held that purchase tax under Section 7A of the TNGST Act cannot be imposed merely because the seller failed to remit sales tax.
