GSTAT Chandigarh Allows Deltron to Claim ₹2.90 Lakh Transitional ITC on Imported Capital Goods

GSTAT Chandigarh allows Deltron ₹2.90 lakh transitional ITC on imported capital goods received after GST implementation but rejects ₹6.99 lakh export-related credit. The Goods and Services Tax Appellate Tribunal (GSTAT), Chandigarh, has partly allowed a transitional Input Tax Credit (ITC) …

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Thiruvananthapuram GSTAT Allows ₹19.79 Lakh IGST Refund to Cashew Exporter for Duplicate Tax Payment

Thiruvananthapuram GSTAT allows a ₹19.79 lakh IGST refund to Associated Cashews, ruling that a genuine clerical error cannot justify denial of excess tax refund. Introduction In a significant ruling concerning GST refunds and errors in return filing, the Thiruvananthapuram Bench …

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Rights Shares Issued Below Market Value Are Not Automatically Taxable: Bombay High Court Quashes Grasim Industries’ Reassessment

The Bombay High Court has ruled that the difference between the subscription price and fair market value of proportionately allotted rights shares cannot, by itself, be taxed under Section 56(2)(x) of the Income-tax Act, 1961. The decision came in a …

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ITAT Mumbai Rules Sale of Trademark Need Not Include Entire Corporate Identity, House Marks or Packaging

ITAT Mumbai deletes ₹433.14 crore royalty addition in Novartis case, ruling that trademark assignment need not include corporate identity, house marks or packaging. Introduction The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has delivered an important ruling on …

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ITAT Chennai Deletes 75% of Cash Receipt Additions Against IG3 Infra Over Unverified Excel Entries

ITAT Chennai upholds deletion of 75% cash receipt additions against IG3 Infra, highlighting the need for verification of seized Excel entries and transaction-wise identification. Introduction The Income Tax Appellate Tribunal (ITAT), Chennai, has delivered an important ruling on additions made …

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GST Appeal Cannot Be Dismissed for Pre-Deposit Shortfall Without Giving Taxpayer an Opportunity of Hearing: Bombay High Court

Bombay High Court rules that GST appeals cannot be dismissed for pre-deposit shortfall without giving taxpayers an opportunity of hearing. Read the judgment summary and its implications. The Bombay High Court has reaffirmed an important principle of natural justice in …

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