The Tribunal held that where disallowance was accepted and taxes paid during revision under Section 263, penalty under Section 270A was not warranted. The appeal was allowed and penalty deleted.
Madras High Court held that affiliation fee collected by the Universities does not fall within exemption hence such fees collected by the University from the Colleges as affiliation fees is amenable for levy of GST.
GSTAT held that proceedings under Section 74 could not be sustained in absence of fraud or suppression and remanded the matter for fresh determination under Section 73 by the Proper Officer.
The Tribunal observed that ₹99.10 lakh allegedly added as unexplained credits may represent earlier year balances. The matter was remanded for verification to avoid wrongful taxation in the current assessment year.
ITAT ruled that a 76/23 split in chats reflected proposed refurbishment costs, not undisclosed cash consideration. In absence of corroborative material, addition under Sections 69 and 115BBE was held unsustainable.
The Tribunal emphasized that approval from the correct specified authority is mandatory where reopening exceeds three years. Failure to comply rendered the reassessment proceedings void ab initio.
Observing that the assessee invested the entire share of sale proceeds within two years and obtained possession, ITAT Pune allowed Section 54B exemption. The addition under Section 69A was consequently deleted.
ITAT Mumbai held that even if Section 11 exemption is denied due to lack of registration, the Assessing Officer cannot tax entire gross receipts without examining expenditure. Only net income, if any, can be brought to tax.
The High Court set aside a tax demand arising from foreign tax credit mismatch because no valid intimation under Section 143(1) was produced or served. It held that recovery cannot be enforced without mandatory service of notice of demand.
The Tribunal held that year of acquisition is determined by payment and handing over of possession under Section 2(47)(v), not by later registration date. Earlier CII was allowed for capital gains computation.
