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Adani Green Energy Limited informed stock exchanges that Gautam Adani and Sagar Adani have jointly sought a final judgement in the ongoing US SEC civil complaint matter.

Gautam Adani and Sagar Adani File Settlement Request Before US Eastern District NY Court

Judgement

This case clarifies that once delayed GST returns are filed, the earlier assessment order loses effect. The court protected the taxpayer from recovery actions under Section 62(2).

GST Best Judgement Assessment automatically withdrawn After Return Filing: HC

The Set aside The GST assessment order because the taxpayer filed return letter and directed the authorities to make a press assessment after considering those returns.

Best Judgement Assessment to be quashed once Belated GST Returns are Filed: High Court

ITAT relied on the judgement of the Delhi HC where it was clarified that the penalty for concealment of income cannot be levied if the income is assessed under MAT provisions.

Concealment Penalty Cannot be Imposed When Income Assessed Under MAT Provisions: ITAT

HC rules best judgement assessment lapses once returns are filed and dues are fully paid.

HC Holds Section 62 GST Assessment Void After Return Filing

The Tribunal cited previous judgements and held that the joint ownership at the time of sale of assets does not disqualify the assessee from claiming a deduction under Section 54F.

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Gautam Adani and Sagar Adani File Settlement Request Before US Eastern District NY Court

GST Best Judgement Assessment automatically withdrawn After Return Filing: HC

Best Judgement Assessment to be quashed once Belated GST Returns are Filed: High Court

Concealment Penalty Cannot be Imposed When Income Assessed Under MAT Provisions: ITAT

HC Holds Section 62 GST Assessment Void After Return Filing

Joint Ownership of More than One Residential Property Does Not Disqualify Deduction Under Section 54F: ITAT