ITAT Cochin held that imposition of penalty u/s. 271D and 271E of the Income Tax Act in consolidated manner is unjustified as AO has to point out each entry where such acceptance or repayment is Rs. 20,000/- or more.
ITAT Delhi held that addition u/s. 68 of the Income Tax Act towards share application money, as unexplained credit, deleted as identity, genuineness and creditworthiness of the shareholders proved.
Calcutta HC sets aside rejection of delayed GST appeal due to age-related issues; directs Appellate Authority to reconsider with conditions.
Calcutta High Court quashes GST assessment order for Phuljhora Agro due to lack of opportunity for hearing. Case remanded for fresh proceedings under Section 73.
The Allahabad High Court ruled that excess stock in a GST survey should trigger proceedings under Sections 73 & 74, not confiscation under Section 130.
Allahabad High Court sets aside GST orders against Shree Om Steels, ruling that proceedings under Section 130 of the UPGST Act were improperly initiated.
The ITAT Ahmedabad ruled on the disallowance of TDS credit to Theo Desh Consultants due to non-inclusion of corresponding income in the relevant assessment year.
Madras High Court quashes assessment and rectification orders against Srinithi Enterprises, citing jurisdiction issues; directs Assistant Commissioner to review case.
Assessee-partnership firm had filed its income tax return declaring income. The case was selected for limited scrutiny, focusing on the issues such as investment in immovable property and share capital/other capital.
Held that any step of reduction in the pay scale and recovery from a Government employee would tantamount to a punitive action because the same has drastic civil as well as evil consequences.
