NCLAT Delhi held that application under section 7 of the Insolvency and Bankruptcy Code [IBC] filed by the security Trustee is duly admissible since application was filed after obtaining valid authorisation from the lender. Accordingly, appeal dismissed.
CESTAT Chennai held that burden of showing that the goods are marketable is on department. Since department has not discharged its burden of showing that the goods i.e. sugar invert syrup is marketable no excise duty can be levied. Accordingly, appeal allowed.
ITAT Rajkot’s ruling in Milind Pankajbhai Shroff vs. PCIT confirms the Principal Commissioner’s authority under Section 263 to revise an assessment where the AO failed to inquire into a ₹30 Lakh deduction claimed for bogus political donations,
Delhi High Court confirms GST Appellate Authority’s full power under Sec. 107(11) to re-adjudicate refund claims, consider new evidence, and prevent inconsistent, piecemeal orders.
The Gujarat High Court ruled in MC Bauchemie that a discrepancy between E-way bill turnover and GSTR-9 turnover is insufficient alone to invoke GST demand proceedings under Section 73. Authorities must establish fraud, willful misstatement, or suppression to assume jurisdiction.
Jewellers Get ITAT Relief: Inventory Software Unaccounted Income. ITAT Chennai restricts profit on unaccounted sales to 2.5% for Mohanlal Jewellers; deletes additions on Ghat, MC Khata, Byaj, and Vatav. Corroboration is key.
Chennai ITAT set aside the assessment for exceeding the limited scrutiny scope and disallowing 80P without a speaking order or SCN. Remanded the case for fresh, compliant adjudication.
Chennai ITAT rules Dividend Distribution Tax (DDT) is a company tax and not covered by DTAA, rejecting the refund claim. Separately, it capped the TDS disallowance at 30% under Section 40(a)(ia).
Delhi High Court held that seized amount is prima facie proceeds of crime and not lawful income hence to treat such amounts as taxable income recoverable by the Income Tax Department, prior to the conclusion of the PMLA trial or adjudication, would be erroneous. Accordingly, petition dismissed.
SCIPL Vs DCIT: ITAT Delhi deletes huge additions, ruling that WhatsApp Excel sheets are dumb documents. Suspicion isnt evidence; corroboration is mandatory in search assessments. Deletions on alleged foreign fund diversion & bogus expenses upheld.
