ITAT Delhi quashed reassessment proceedings for AY 2013-14 and 2015-16, ruling that notices issued after the extended final deadline of June 24, 2022, were time-barred under Section 149, following the Rajeev Bansal ruling.
Tribunal held that where Form 67 is submitted before the completion of assessment, foreign tax credit must be allowed even if the filing was delayed. It observed that neither the Act nor Rule 128(9) imposes disallowance for delay.
ITAT Indore deleted a ₹2 lakh addition for cash deposited during demonetisation, citing CBDT Instruction No. 3/2017 which bars verification for deposits up to ₹2.5 lakhs by individuals.
Levy of Integrated Goods and Services Tax (IGST) on ocean freight under Cost, Insurance, and Freight (CIF) contracts was unsustainable in law as such a tax constituted double taxation contrary to the principle of composite supply under the GST law.
Delay of 447 days by the Income Tax Department in filing an appeal was condoned against the acquittal of an accused in a tax evasion case, observing that the delay was caused by a bona fide mistake and disruptions during the COVID-19 pandemic.
Madras High Court held that non-responding to notice and non-appearance on hearing due to fact that notices were uploaded only through GST portal and there was no service of notice via physical mode. Accordingly, order set aside on ground of violation of principles of natural justice.
ITAT Pune held that since object of the trust are charitable in nature and genuineness of activity is established by documents, assessee is eligible for registration under section 12A read with section 12AB of the Income Tax Act. Accordingly, appeal of assessee allowed.
Gujarat High Court held that Commissioner of Customs doesn’t have jurisdiction to reassess into bond bill of entry in respect of clearances effected from private bonded warehouse. Accordingly, appeal of the revenue is dismissed.
ITAT Mumbai held that payment towards bandwidth service without transfer of right to use equipment or process could not be characterized as ‘royalty’ under section 9(1)(vi) or Article 12 of India-UAE DTAA. Thus, appeal decided in favour of assessee.
NCLT Cuttack held that application under section 9 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Resolution Process [CIRP] against Corporate Debtor [ASB Energy Systems and Construction Pvt. Ltd.] is admitted as operational debt and default thereon is admitted.
