ITAT Vishakhapatnam held that addition u/s. 69 r.w.s. 115BBE of the Income Tax Act merely on the basis of excel sheet seized from third party without any independent enquiry and independent corroborative evidences is unsustainable in law.
ITAT Chennai held that corrigendum issued by AO to rectify the mistake made while issuing original assessment order is legal and valid. Accordingly, matter remanded back to CIT(A) for adjudication on merits.
ITAT Ahmedabad restored the matter back to the file of CIT(A) after imposing cost of Rs. 5,000 on the assessee for negligence in diligently prosecuting the appeal before CIT(A). It is directed that amount is to be deposited in the Prime Minister’s Relief Fund.
Delhi High Court held that re-assessment proceedings set aside as assessment in respect of the AY 2015-16 falls beyond the period of ten years as stipulated u/s. 149 read with Section 153C of the Income Tax Act.
The Supreme Court rules that demolishing a house solely based on criminal accusations violates the rule of law, requiring due process and judicial oversight.
Registration for foreign food manufacturing facilities mandatory from Sept 2024 for specific food categories. Check FSSAI’s guidelines for compliance.
DGFT’s Public Notice No. 33/2024-25 introduces SION A-3682 for Clobetasol Propionate, detailing input-output norms for Chemical and Allied Products exports.
Notification No. 81/2024-Customs designates Chhara Port in Gujarat for import unloading and export loading under CBIC’s Customs Act amendments.
SEBI study reveals 1 in 4 listed companies pay royalty exceeding 20% of net profits to related parties, raising concerns over transparency and governance.
DGFT issues draft for harmonized Schedule-II Export Policy based on 8-digit ITC(HS) codes, inviting feedback from stakeholders by November 27, 2024.
