ITAT held that scrap trading does not follow a fixed sales pattern and income declared under Section 44AD cannot be rejected on suspicion. Addition under Section 68 was deleted.
The Tribunal held that Customs cannot reject a higher transaction value to redetermine a lower value for imposing anti-dumping duty. Rule 12 does not authorize downward revision merely to levy ADD.
ITAT Mumbai deleted the Section 68 addition on LTCG from listed shares, holding that documentary evidence, STT payment, and banking trail were not disproved by the Revenue.
The High Court recorded that the new PAN had been cancelled and directed the petitioner to apply for restoration of the old PAN. The Income Tax Department was asked to provide a copy of the cancellation order.
The Supreme Court held that penalty for delayed compensation payment under the EC Act is due to employer’s personal fault. Insurers remain liable only for compensation and interest, not penalty.
The Delhi High Court held that issuance of notice within limitation is sufficient, and an inadvertent attachment of another assessee’s document is a curable defect, not a jurisdictional flaw.
The Court held that a genuine mistake in revised TRAN-1 and TRAN-2 filings cannot nullify substantive transitional ITC claims. It permitted rectification and directed fresh adjudication after verification.
The High Court granted regular bail in a GST evasion case, noting that the arrest memo did not specifically allege fraud or intentional evasion. The offences were triable by a Magistrate with a maximum five-year sentence.
The Court held that voluntary cancellation of GST registration does not wipe out liabilities for earlier tax periods. It upheld tax and penalty imposed for 2018-19 due to non-response to notices.
The Calcutta High Court held that Section 263 cannot be invoked merely due to disagreement with the Assessing Officers view. Since the AO conducted proper inquiry and followed CBDT instructions, revision was quashed and LTCG treatment on unlisted shares was upheld.
