ITAT Kolkata restricts disallowance of painting business expenses to 20%, ruling that entire disallowance for lack of vouchers was excessive given the ongoing business activity.
Calcutta High Court allows SREI Finance’s arbitration plea for Rs.130 Cr loan default, ruling that NCLT fraud allegations are triable issues for the arbitrator, not a bar.
Orissa HC dismisses writ against Rs.72 Lakh GST ITC rejection based on ‘fake invoices’ and ‘non-existent suppliers,’ directing the taxpayer to pursue the statutory appellate remedy.
ITAT Indore remands assessment orders for AYs 2013-14 to 2018-19 to the AO for de novo consideration, finding that non-compliance during proceedings occurred due to the COVID-19 pandemic and an inoperative email ID, violating natural justice.
Gujarat AAAR rules Zydus Lifesciences must reverse ITC on inputs linked to mutual fund transactions, treating them as exempt supplies under GST law.
ITAT Delhi sets aside reassessment, ruling the PCIT’s ritualistic S. 151 approval for S. 148 notice invalidates the proceedings; “mechanical approval is fatal.”
An assessment order passed in the name of a non-existent entity, such as a company that has been amalgamated into another, was a fundamental jurisdictional error and was null and void from the beginning.
Telangana High Court held that genuineness and validity of will are civil disputes and should not be adjudicated by TSGST authorities since appropriate jurisdiction in such matter lies with the Civil Court.
ITAT Delhi deletes ₹11.54 crore addition on loan transactions, ruling the S. 147 reassessment invalid and confirming “suspicion is not proof” for genuine loans.
Delhi ITAT rules reassessment valid due to Assessee’s HC undertaking, but deletes Rs. 8.31 Cr addition, finding Revenue failed to prove raw material purchases were bogus.
