CESTAT Hyderabad held that gold pendant are finished gold jewellery hence classifiable under Customs Tariff Heading [CTH] 7113 and not under CTH 7108. Accordingly, benefit of exemption from payment of customs duty admissible.
The Tribunal ruled that the amended reassessment law does not revive assessment years that had become time-barred under the earlier statutory provisions.
Reopening notices under Section 148 were quashed as the petitioner’s depreciation claims on a slump sale of an injectable business were valid and fully disclosed.
Court considered whether admissions made by seller in settlement proceedings could affect purchaser’s depreciation claim. It held that such admissions do not undermine depreciation claimed on a bona fide slump sale.
Delhi HC held that issuing multiple reassessment notices under Section 148 based on same ‘reasons to believe’ is valid. Petition challenging notices for A.Y. 2021-22 was dismissed.
The ITAT Jaipur held that joint ownership of a new property does not bar full exemption under Section 54F if the assessee funds the purchase and retains control over the asset.
Karnataka High Court quashed a GST revision order, holding that revisional powers under Section 108 cannot be invoked without initiating proceedings under Section 73 or 74
The Bombay High Court set aside a GST cancellation order, highlighting the need for reasoned decisions and proper consideration of submissions in accordance with natural justice
Court rejected writ petition challenging GST demand, directing petitioner to pursue appeal under Section 107 due to alleged fraudulent Input Tax Credit transactions.
The High Court quashed a Section 148 notice issued by the Jurisdictional Assessing Officer, confirming that such notices must follow the faceless assessment procedure.
