In a recent case, ITAT Guwahati ruled on ‘Income other than business/profession mismatch,’ setting aside the assessment order. Detailed analysis of the decision.
Bombay High Court quashes assessment order, directs JAO to provide specific information for Section 148A(b) notice. Detailed analysis and implications of the judgment.
Bombay High Court’s landmark judgment nullifies Income Tax assessments for AY 2016-2017, citing improper sanction under Section 151(i) instead of Section 151(ii) of the Income Tax Act 1961. Read the full text and implications.
Discover the latest update from IBBI as Mr. Jithesh John assumes the role of Executive Director. Uncover his extensive experience in economic services and insights into India’s financial landscape.
Explore the JCIT vs S.V. Balasubramani HUF case at ITAT Chennai. Learn why bonus payment disallowance under section 40A(3) of the Income Tax Act was challenged and the outcome of the appeal.
Explore the Supreme Court judgment on Commissioner of Customs vs. Godavari Drugs Ltd. as it dismisses the customs appeal, citing increased monetary limits according to the CBIC Circular.
In a Customs case, CESTAT Chennai instructs the adjudicating authority to verify EODC for Solar Soles Pvt Ltd, potential benefits to follow upon production.
Read about recent CESTAT Chennai order in case of K. Mayakrishnan vs. Commissioner of Central Excise and Service Tax. Tribunal ruled that a Service Tax demand without specifying service category in Show Cause Notice is not maintainable.
Stay informed on SEBI’s extension of the deadline for implementing the SCORES Redressal Circular. Learn about the impact on investor grievance procedures and the new April 01, 2024, deadline
ITAT Chandigarh held that initiation of reassessment proceeding merely on the fact that AO has not carried out independent enquiries of confirmations from the creditors, without pointing out any deficiency or inaccuracy, cannot be a base to hold that order was erroneous in so far as prejudicial to the interest of revenue. Accordingly, reassessment unsustainable.
