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Judiciary

CESTAT Allows Interest on Auction Sale Proceeds: From Receipt to Disbursal

June 15, 2023 219 Views 0 comment Print

CESTAT Delhi allows interest on auction sale proceeds from date of receipt by Customs Department, till the date of disbursal, in Oriental Trimex Limited vs Commissioner of Customs (Import) case.

ITAT Delhi Directs AO to Re-adjudicate: Dispute over Loan Amount Addition

June 15, 2023 393 Views 0 comment Print

ITAT Delhi has ordered a fresh adjudication in the case of TSP Engineers Pvt. Ltd. Vs ITO, challenging the addition of a loan amount to the outstanding balance without proper evidence and documentation.

ITAT Chennai Upholds Interest on Refund U/s. 244A: Focus on Fairness & Equity

June 15, 2023 1320 Views 0 comment Print

ITAT Chennai’s upholds entitlement of assessee to interest on tax refund under Section 244A, emphasizing principles of fairness and equity

ITAT Annuls Penalty u/s 273B for Cash Payment of Defaulted EMI

June 15, 2023 498 Views 0 comment Print

ITAT Chennai quashed a penalty on cash payment of defaulted EMI, arguing that case presented a ‘reasonable cause’ under Section 273B.

Orissa HC Denies Anticipatory Bail to Khageswar Patra: PMLA Violation

June 15, 2023 369 Views 0 comment Print

Orissa High Court’s judgment rejecting Khageswar Patra’s anticipatory bail plea due to a failure to comply with Section 45 of Prevention of Money Laundering Act (PMLA)

NCLAT Ends CIRP on Principal and Interest Payment

June 15, 2023 648 Views 0 comment Print

NCLAT’s decision to end the CIRP against Bhagwandas R. Bhattad, following their complete payment of the principal amount and interest

CESTAT Overturns Dismissal due to Lack of Delivery Evidence

June 15, 2023 288 Views 0 comment Print

CESTAT Chandigarh overturns dismissal of Johnsons Controls-Hitachi’s appeal by Commissioner of CGST on limitation grounds, citing lack of evidence for order passed and served date being the same.

Delhi HC Quashes Penalty Order for Failure to Consider Email of Assessee

June 15, 2023 1050 Views 0 comment Print

Delhi High Court quashes the penalty order issued under Black Money Act, citing the department’s failure to consider assessee’s email.

Penalty u/s 271B unsustainable as reasonable cause shown

June 14, 2023 2058 Views 0 comment Print

ITAT Delhi held that imposition of penalty under section 271B of the Income Tax Act unsustainable as reasonable cause shown for non-submission of audit report.

TDS Credit eligible in Assessment Year Corresponding to Income Assessment

June 14, 2023 1338 Views 0 comment Print

ITAT Chennai held that as per the provisions of Sec.199(3) of the Act r.w.r.37BA(1) of the Income Tax Rules, 1962, credit for TDS shall be given for assessment year for which such income is assessable.

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