ITAT Delhi held that accumulation under section 11(1)(a) of the Income Tax Act is to be allowed at 15% of gross receipts. Accordingly, appeal of the assessee allowed.
ITAT Chandigarh held that treating capital gains earned on sale of shares as bogus merely on the basis of warning letter of SEBI without any incriminating material found during course of search demonstrating transaction as bogus is unjustified.
Bombay High Court invalidates reassessment notice under Section 148 of the Income Tax Act, citing failure to meet jurisdictional conditions under Section 147.
ITAT Jaipur held that exercise of revisionary power under section 263 of the Income Tax Act on the basis of audit objection is not tenable in law. Accordingly, initiation of proceedings liable to be quashed.
CESTAT Delhi rules customs duty exemption cannot be denied if export obligations are met and EODCs issued, overturning a ₹21 crore demand.
The IT Dept. has flagged high-risk non-filers for AY 2019-22 on the Insight Portal under RMS Cycle 5. Assessing Officers can review and take necessary actions.
Madras High Court rules on GST late fee under Section 47 & general penalty under Section 125, setting aside an additional penalty but upholding the late fee.
Learn the essential documents needed for an abroad education loan. Find out about identity, address, academic, financial, and collateral requirements for a smooth process.
Chhattisgarh High Court rejected bail application filed u/s. 483 of the Bhartiya Nagrik Suraksha Sanhita, 2023 as prosecution prima facie establishes link between accused in the coal scam. Accordingly, bail not granted to applicant.
Compare gold loan interest rates and EMIs before borrowing. Learn how to evaluate lenders, use an EMI calculator, and consider key factors for better loan decisions.
