ITAT Mumbai dismisses Revenue’s appeal against Kotak Mahindra Life Insurance, citing precedents favoring the insurer on taxation of surplus and negative reserves.
Bombay High Court allows Karnataka Sangha’s appeal, condoning a 15-day delay in filing Form-10B under the Income Tax Act, citing reconstruction and COVID-19 disruptions.
Calcutta High Court orders GST authorities to grant AGP Enterprise a hearing before adjudication, citing procedural lapses in show-cause notice issuance.
Madras High Court quashes GST demand against R A Metal Finishers, citing violation of natural justice due to a non-speaking order without considering reconciliation data.
Rajasthan HC allows partial relief in reassessment dispute, directing a 20% deposit for stay on demand recovery while cases await further hearing.
Allahabad High Court rules that absence of an e-tax invoice due to a GST portal glitch does not justify penalty if other transit documents are valid.
Additional income offered by assessee on account of cash and excess stock is liable to be taxed as business income and not unexplained investment under section 69A at special rates of 115BBE.
ITAT Ahmedabad affirms CIT(A) order canceling ₹1.2 Cr penalty on Priya Blue Recycling LLP, citing lack of international transactions.
Compare Fixed Deposits with Mutual Funds, Stocks, Gold, and Real Estate. Understand risks, returns, and liquidity to make an informed investment choice.
Explore February 2025’s key income tax rulings covering issues like R&D deductions, secondment taxability, trust exemptions, and demergers under the Income Tax Act.
