ITAT Chennai held that PCIT cannot term order passed by AO as erroneous and prejudicial to the interest of revenue merely for non-production of Form 3CL for claiming weighted deduction under section 35(2AB) of the Income Tax Act.
Madras High Court held that works contract services pertaining to railways is covered by Notification 11 of 2017 CGST (RATE) dated 28.06.2017 as amended vide Notification No. 20/2017 dated 22.08.2017, Notification No.8 of 2017 Integrated Tax (Rate) dated 28.06.2017 and hence concessional tax rate of 12% applicable instead of 18%.
Bombay High Court held that once search action u/s. 132 of the Income Tax Act is the foundation of the case, assessment could be initiated only under section 153A/ 153C. Thus, initiation of reassessment proceedings u/s. 147 is liable to be quashed.
Kerala High Court held that recovery proceedings in the matter of applicability of TDS u/s. 192 in case of consultant doctors being employees of hospital is to be kept in abeyance pursuant to pending final disposal of appeal.
SEBI introduces amendments to Insider Trading Regulations 2025, refining definitions and disclosure requirements for improved market transparency.
ITAT Bangalore held that addition under section 28(iv) of the Income Tax Act for receiving fixed assets from sister concern on free of cost basis unjustified as no benefit is derived from the same. Accordingly, order of CIT(A) upheld and appeal of revenue dismissed.
An employee should be employed for 300 days or more during the previous year should be applied cumulatively across the year of hiring and the following year, rather than restricting it to the first year.
Kerala HC directs expedited appeal disposal for Ajas N Shamsu, addresses property attachments and stay of garnishee proceedings.
Kerala HC orders Income Tax Dept to resolve Janayugam Publications’ 2016 appeal within four months, provided required documents are uploaded within 30 days.
Bombay HC directs IT Dept to review H.K. Jewels’ plea on seized gold, citing Section 132(1)(iii) of the IT Act. Petitioners granted time to file representations.
