AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Rajasthan High Court has restored a delayed GST appeal and mandated the Appellate Authority to consider the merits of the case, underscoring a fair hearing.
This article delves into the reasons for GST registration cancellation along with the procedural aspects involved. It discusses the retrospective effects and compliance implications for affected businesses.
The ITAT Mumbai allowed an appeal where the taxpayer fully repaid a loan in the same year. The ruling clarifies that loan transactions cannot be construed as income under Section 68.
ITAT Bangalore has ruled that a non-cash benefit from acquiring land below its market value is taxable under Section 28(iv). This decision clarifies the tax implications of undervalued asset transactions.
ITAT Mumbai has deleted a ₹62 lakh addition under Section 69 due to inadequate corroborative evidence from third-party statements and Excel entries. This ruling underscores the importance of having substantiating documentation in tax assessments.
The Karnataka High Court has upheld a KVAT demand of ₹12.61 lakh against Yes Bank, finding no errors in the reported turnover discrepancies. This decision reinforces the importance of accuracy in VAT reporting.
The Bombay High Court clarified that interest on excise refunds under section 11BB begins from the expiry of three months from the date of the original application, not from the appellate order.
The Karnataka High Court has ruled that the limitation period for appealing a service tax adjudication order commences from the date of communication of the order. This decision quashes a garnishee order, emphasizing clarity on appeal timelines.
In a significant ruling, the NCLAT dismissed an appeal filed beyond the 45-day limit, reinforcing the legal principle that deadlines must be adhered to in insolvency proceedings. The decision underscores the tribunal's lack of jurisdiction to extend limitation periods.
The NCLAT has determined that the National Company Law Tribunal (NCLT) cannot issue notices to the Enforcement Directorate (ED) or the Central Bureau of Investigation (CBI) without satisfying the necessary legal conditions and hearing affected parties as mandated under Section 213(b) of the Companies Act.
In a significant ruling, the NCLAT dismissed a ₹18.85 crore claim against a corporate debtor due to insufficient evidence of a concluded agreement or banking trail. The decision reinforces the necessity for claimants to furnish adequate documentation to support financial claims.
The Income Tax Appellate Tribunal (ITAT) ruled that the department must substantiate the assessee's individual financial contribution before taxing the entire joint property acquisition.
In a recent judgment, the Delhi High Court allowed a belated revised return after it was determined that a taxpayer mistakenly paid tax on the same income in two different assessment years.