Delhi High Court set aside a Rs.20 Cr GST demand, holding that ITC refund on exports cannot be denied if total foreign exchange proceeds are realized, even if FIRCs don’t match invoices transaction-by-transaction.
ITAT Delhi quashes the assessment for Carissa Investment Pvt. Ltd., holding that an AO who ignores a previously accepted correct address forfeits the presumption of valid service.
ITAT Ahmedabad ruled that reopening an assessment u/s 147 is invalid if based on general, unverified portal information lacking a “live link” to the assessee’s escaped income. Case dismissed.
ITAT Delhi dismissed Revenue’s appeal against Satya Prakash Gupta regarding an addition of ₹1.61 crore for alleged bogus Short Term Capital Loss, as tax effect was below CBDT’s monetary limit.
Delhi HC held that indexation benefit on Long Term Capital Gain for flat sale begins only from the date Builder Buyer Agreement is signed & not from Provisional Allotment Date
Judgment highlights that responsibility to respond to notices under Sections 94 & 179 of under BNSS 2023 lies with company’s current authorized representatives, not former directors.
ITAT Delhi quashes reassessment, deleting Rs. 85 lakh Sec 69C addition. AO cannot travel beyond recorded reasons if the original reason for reopening is not sustained.
Mumbai ITAT quashes ₹1.76 Cr unexplained investment tax on NRI homemaker, ruling joint registration doesn’t justify addition when funds came solely from husband.
ITAT Delhi held that reopening under Section 148 on an incorrect PAN and with mechanical sanction by PCIT is invalid, quashing the Rs. 3.50 crore addition under Section 68 and setting aside reassessment proceedings.
ITAT Delhi quashes search assessments, ruling consolidated S. 153D approval for multiple assessees was mechanical, violating judicial mandate for independent application of mind.
