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When Garg claimed that he still had the original locker key, the bank officials said that the locker number had been given to another customer.

2Cr Bank Locker of Chartered Accountant Found Missing in Faridabad; SBI Allegedly Allots It to Another Customer

Seven people were arrested after police exposed a fake GST invoice racket that caused a Rs. 7.03 crore loss to the govt.

Police Bust Fake GST Racket; Rs. 7.03 Crore ITC Fraud Uncovered

Judgement

Comparison of two controlled transactions impermissible; DRP directions found vague and contrary to Section 144C

ITAT Delhi Deletes Transfer Pricing Adjustment on Commission Paid; Rejects Ad Hoc Benchmarking By TPO

ITAT Delhi held that reassessment based solely on low profit without any tangible material is invalid and quashed the Section 148 notice.

ITAT: Reassessment Under Section 148 Set Aside for Absence of Live Nexus

The ITAT held that since the purchase records and stock in the books of both entities have not been questioned, the transfer of stock to a dormant entity by does not make the cash sales suspicious.

ITAT Upholds Cash Jewellery Sales During Demonetisation; Rejects Revenue's Appeal

Considering this, the tribunal ruled that the late supply of goods is not a crime or violation of law but a payment for breach of contract.

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2Cr Bank Locker of Chartered Accountant Found Missing in Faridabad; SBI Allegedly Allots It to Another Customer

Police Bust Fake GST Racket; Rs. 7.03 Crore ITC Fraud Uncovered

ITAT Delhi Deletes Transfer Pricing Adjustment on Commission Paid; Rejects Ad Hoc Benchmarking By TPO

ITAT: Reassessment Under Section 148 Set Aside for Absence of Live Nexus

ITAT Upholds Cash Jewellery Sales During Demonetisation; Rejects Revenue's Appeal

Penalty on Late Supply of Goods is Compensatory in Nature and is Allowable Business Expenses: ITAT