ITAT Delhi held that re-assessment proceedings under section 147 of the Income Tax Act initiated due to change of opinion without having any fresh material on record is liable to be quashed. Accordingly, appeal of revenue dismissed.
Delhi High Court held that imposition of penalty under section 271DA of the Income Tax Act is justifiable since there is no inordinately and inexplicably delay in initiation of penalty proceedings. Accordingly, writ dismissed.
Delhi High Court held that reassessment order is liable to be set aside as it was based on information that was fully examined in the earlier round of reassessment u/s. 147 r.w.s. 144B of the Income Tax Act. Accordingly, appeal allowed and order set aside.
CCI dismissed allegations of anti-competitive practices in tender for an Olympic-standard pool in Maharashtra. Case highlights tender specifications and fair competition.
Delhi HC confirms Section 40A(3) inapplicable to property investments, affirming ITAT’s ruling in PCIT Vs Sanskar Homes Pvt. Ltd. Appeal dismissed.
ITAT Ahmedabad held that penalty u/s.271AA of the Income Tax Act cannot be levied without specifying the required documents failed to be maintained/furnished by the assessee. Thus, appeal of the revenue dismissed.
Explore India’s job generation history, challenges, and resilience. From colonial times to modern IT and healthcare, learn how India navigated employment dynamics.
ITAT Jaipur held that invocation of revisionary proceedings u/s. 263 of the Income Tax Act not sustainable since AO duly verified investment and payment of ESI/PF.
Compare Foreign Direct Investment (FDI) and Foreign Portfolio Investment (FPI). Understand their differences, benefits, risks, and impact on global economies.
Explore the benefits of buying an electric scooter with a zero down payment loan, including no upfront costs, low EMIs, immediate ownership, and reduced maintenance expenses.
