ITAT Pune remands ESOP tax dispute, citing AO/CIT(A) failure to verify year of acquisition and valuation errors, directing fresh assessment to prevent double taxation.
Gujarat High Court rules tax cannot be recovered from employees when employer fails to deposit deducted TDS; directs CBDT to enforce Section 205 compliance.
Kerala High Court rules that Section 54F exemption applies only to new residential construction, not renovation or extension of existing houses.
Delhi High Court holds Section 54F exemption valid even if house construction began before sale of asset, reaffirming liberal interpretation of tax relief.
Calcutta HC dismisses a writ against a GST goods detention and penalty order, directing the taxpayer to use the statutory appellate remedy due to disputed facts and discrepancies in the driver’s statement.
Delhi High Court dismisses petitions, reiterating that both Jurisdictional Assessing Officers (JAO) and Faceless Assessing Officers (FAO) have concurrent jurisdiction to issue Section 148 reassessment notices, holding prior High Court ruling (T.K.S. Builders) is binding.
Gujarat High Court rules that GST payment credited to government via electronic cash ledger satisfies bail condition; rejects plea for bail cancellation.
ITAT Chennai held that interest received on enhanced compensation forms part of the compensation and hence entitled for exemption under section 10(37) of the Income Tax Act and accordingly, not taxable. Accordingly, appeal of the assessee allowed.
Madras High Court held that AO based on seized records and statement of dealer was justified in assessing the suppressed turnover. Accordingly, order of Assistant Commissioner and Tribunal set aside and addition upheld.
Delhi High Court held that Petitioner was clearly hand-in-glove with M/s. Balaji [non-existing supplier] and has enabled loss to the exchequer by fraudulently availing ITC without actual supply of goods or services. Accordingly, writ dismissed and order blocking of ITC in electronic cash ledger upheld.
