AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Orissa HC has condoned an 18-day delay in filing Form 10B necessary for claiming exemptions under Section 12A of the Income Tax Act, acknowledging genuine hardship faced by the petitioner. This ruling is significant for non-profit organizations and trusts.
The Calcutta High Court ruled that writ petitions concerning DVO references are premature if they have not culminated in a final assessment order under the Income Tax Act.
The Income Tax Department has initiated a nationwide verification process targeting suspicious foreign remittances, scrutinizing 394 entities and 36 professionals to address discrepancies between reported turnover and remittances.
The ITAT ruled that cash deposited by a husband from his disclosed income cannot be added to the taxable income of his wife under Section 69A, finding that sufficient evidence existed regarding the source of the funds.
The Calcutta High Court ruled that a writ petition challenging a DVO reference is premature unless it culminates in a final assessment order. This decision emphasizes the procedural requirements necessary for challenging income tax determinations.
The Telangana High Court has permitted a fresh application for GST registration revocation after a cancellation due to non-filing of returns.
This week's ITAT round-up covers significant cases and decisions impacting income tax law.
The Gujarat High Court has ruled to allow a delay in Form 10 filing for AY 2016-17, highlighting that the first-time e-filing oversight warrants condonation. This decision emphasizes the court's approach towards leniency for procedural errors in tax compliance.
The Pune ITAT has granted a reduction of ₹5 lakh from the ₹13.76 lakh addition due to cash deposits under Section 69A, rejecting the taxpayer's peak-credit theory for lack of evidence. This decision emphasizes the necessity of substantiation in tax claims.
The Kerala High Court has ruled that delays in filing a rectification application do not provide sufficient grounds to deny a taxpayer's entitlement to Input Tax Credit (ITC), affirming taxpayer rights under the GST regime.
The Central Government has revised central excise duties on petrol, diesel, and ATF exports, effective August 15, reducing the Special Additional Excise Duty on ATF exports. These changes can impact exporters significantly.
The Delhi High Court has rejected the revival and impleadment applications regarding a reassessment challenge. The court allowed writ amendments while maintaining the status quo on recovery and penalty proceedings.
The Allahabad High Court quashed a VAT demand of Rs. 5 lakhs, stating that enhancements in turnover cannot be justified without any adverse material. This ruling is pertinent for businesses facing VAT assessments.