TAT Mumbai holds that under Section 56(2)(viib), an assessee may adopt DCF or NAV method, and AO cannot substitute valuation with own estimate.
Calcutta High Court grants bail to Gopal Rathi, arrested for alleged GST fraud, citing failure to issue prior notice under BNSS and a period of 40 days in custody.
The Supreme Court directed NCR authorities to immediately create dog shelters and remove all stray dogs from public areas to protect citizens from dog bites.
Delhi and Rajasthan HC precedents cited as ITAT Jaipur rules that reassessment for ‘other persons’ must be year-specific and limited to incriminating material found during search
The ITAT Ahmedabad quashed reassessments for AYs 2017-18 & 2018-19, ruling notices issued beyond 3 years were invalid as the escaped income was below Rs. 50 lakhs.
A Punjab and Haryana High Court ruling mandates a customs duty refund and ₹50 lakhs compensation for perishable goods that were obstructed and ruined.
ITAT Jaipur quashes ₹1.5 crore addition against Amar Partap Steels, ruling that uncorroborated statements cannot prove bogus loans.
Delhi High Court allows prosecution of Raj Kumar Kedia in a Rs. 700 crore accommodation entry scam, confirming the authority of the Principal Director (Inv.) to grant sanction.
The Madras High Court ruled that the Commercial Tax Department can initiate proceedings to void the sale of a property if the original owner had sales tax arrears, citing Section 53 of the Transfer of Property Act.
ITAT Mumbai condones a 937-day appeal delay for Hydroair Tectonics PCD Ltd, citing elderly directors’ health and pandemic challenges, citing Supreme Court precedent.
