Allahabad High Court remands Kishori Lal Agrawal’s deemed dividend case, clarifying Section 2(22)(e) and ‘ordinary course of business’ for loans.
Delhi ITAT upholds Section 54 exemption for Vinod Gugnani, ruling that delayed deposit in CGAS does not bar relief if funds are invested within the statutory period.
Madras High Court rules Tamil Nadu Housing Board cannot demand extra 5% GST from flat allottees when the advertised price was “inclusive of GST,” upholding contractual promise and consumer protection.
ITAT Mumbai rules capital gains holding period begins on the date of the sale agreement, not possession. A key verdict on indexation benefits for property.
Madras High Court affirms reassessment in A. Sridevi case, citing failure of full disclosure and rejecting ‘change of opinion’ argument.
The Calcutta High Court ruled that taxpayers cannot be prejudiced by inadequate information in GST refund deficiency memos, allowing re-filing of applications.
ITAT Surat rules cash in real estate business isn’t automatically unexplained for demonetization deposits. Reduces ₹7.54L addition, cites Supreme Court on cash balances.
Madras High Court orders re-consideration of Tvl. Sri Hari Enterprises’ GST appeal, stating procedural defects in filing delay condonation should not defeat a taxpayer’s right to be heard.
Bombay High Court rules that interest subsidies received by banks from the RBI under the Export Credit Scheme are not taxable as ‘interest’ under Section 4 of the Interest Tax Act, 1974.
CESTAT Chennai set aside penalties against a CHA employee for not verifying exporter credentials, ruling that CHALR 2004 applies, not direct Customs Act penalties, for such lapses.
