- Case Laws Summary dated 10th January 2024 For Income Tax, GST and misc. including important Circulars
- HC grants stay on recovery of tax as AO didn’t wait for DVO’s report before making sec. 50C additions
- Revised Form 10 can be filed during reassessment proceedings to claim accumulation of income u/s 11: HC
- No reassessment to tax entire capital gain as 100% TDS was reflected in assessee’s name due to co-owner lacking PAN: HC
- SC dismissed SLP against HC’s ruling that notice issued in name of non-existing Co. was untenable
- SC rejected SLP against order granting stay as cancellation of Sec. 12A could disrupt ‘CPR’ ongoing programs
- Provisions of Sec. 50C can’t be invoked if there are diff. in valuation of property at same locality: ITAT
- ITAT restored matter as AO passed assessment order without incorporating DRP’s directions
- Reassessment order is defective if no notice u/s 143(2) was furnished before passing such order: HC
- CIT(A) has co-equal powers as that of AO; no interference if he deleted additions based on new evidence: HC
- SC granted an interim stay on HC’s order that Sec. 292B can’t rectify error of failure to mention DIN in order
- HC deletes penalty as no cash involved if lender repaid loan by paying to third party as per assessee’s instructions
- No substantial question of law arose once ITAT held that provision created by Co. was allowable as accrued liability
- 18% GST to be levied on construction of a community hall for Urban Improvement Trust: AAR
- HC dismissed writ petition as assessee has statutory remedy to challenge order rejecting ITC
- Demanding bank guarantee from assessee to grant GST refund is contrary to law: HC HC declined writ as order of refund rejection was based on inquiry conducted by revenue HC directs GST authorities to grant hearing opportunity to assessee as no details were mentioned in notice
- Delhi HC quashes cancellation order passed by AO solely on basis of a letter received from another authority
- HC permits assessee to approach appellate authority as he was unaware of proceedings due to death of his consultant
- ROC penalizes Club for non-compliance of Club’s articles while appointing directors on the Managing Committee
- Commission paid to foreign agents for securing orders not liable to TDS if services were utilised outside India: ITAT
- Deadlocked instant Bench on issue of forfeited sale consideration to be referred to third Judge for resolution: NCLAT
- PMLA agency doesn’t need permission for investigation of cases which is a settled principal of law; it’s their prerogative: HC
