Writ petition filed in connection with the misuse of a Goods and Services Tax Identification Number (GSTIN) was dismissed as assessee could not claim to be completely innocent for sharing OTP with an accountant which was allegedly misused to create multiple fake firms.
The NCLT Mumbai has ruled that Section 14 of the IBC does not prevent banks from classifying a company’s account as fraud, even while the Corporate Insolvency Resolution Process (CIRP) is pending. The tribunal dismissed a petition by the Resolution Professional of Rolta India.
Chhattisgarh High Court rejects bail for Anush Kumar Gangwani in a ₹5.53 crore GST fraud case, citing ongoing investigation and severity of the economic offense.
The Delhi High Court set aside a conflicting GST assessment order against Siemens Ltd., ruling that two separate, contradictory orders for the same period were impermissible.
ITAT Jaipur deletes additions on unsecured loans and partners’ capital for Vikas Oil Mill, citing sufficient evidence like ITRs and cash books to prove their genuineness.
ITAT Bangalore ruled that an omission to claim a tax rebate under Section 87A is a valid reason to file a revised return. The taxpayer was granted the rebate.
It is settled proposition of law that CBDT circulars are binding on department and it has to be strictly followed by officers of department. AO cannot be permitted to travel beyond the issues for which case was selected for limited scrutiny without taking mandatory permission from concerned PCIT or Pr.CCIT.
The Madras High Court has set aside a GST assessment order against Tvl Jai Nidhi Automation, ruling that raising new issues without prior notice violates natural justice principles.
Delhi ITAT deletes over ₹6 crore in additions, ruling that documents impounded from a property broker related to third-party transactions, not his own income.
Chennai ITAT rules that costs for interior work and utility connections for a new home can be included in the LTCG exemption under Section 54 of the IT Act.
