Gujarat High Court quashes assessment order citing violation of faceless assessment rules and natural justice under Section 144B of Income Tax Act.
Delhi HC sets aside income tax assessment for AY 2018-19 due to non-issuance of mandatory show cause notice and draft order under Section 144B of the IT Act.
Prop trading firms in India, also known simply as propfirms, are entering 2025 with a renewed focus on navigating tax reforms and regulatory updates.
IRDAI warns Heritage Health Insurance TPA for closing claims and issuing repudiations directly, violating regulations. Action report due in 90 days.
Karnataka High Court sets aside GST order against Balaji Packaging, allowing reconsideration under Section 73 to avail Amnesty Scheme benefits.
ITAT Mumbai addressed cash deposits during demonetization and alleged bogus diamond purchases. AO relied on investigation report without cross-examination.
ITAT Delhi held that the approval granted u/s. 153D in the nature of a ‘technical approval’ in symbolic exercise of powers under s. 153D. Hence, the consequential assessment orders based on such repugnant approval under s. 153D is bad in law in tune with earlier years.
ITAT Ahmedabad allows appeal despite 1607-day delay citing medical hardship. Penalty u/s 271(1)(c) questioned over income assessment.
Rajasthan High Court held that, in terms of section 151A of the Income Tax Act, Jurisdictional Assessing Officer [JAO] doesn’t have jurisdiction to issue notices under section 148 of the Income Tax Act. Accordingly, notices u/s. 148 are liable to be quashed.
Courts and tax authorities differ on GST applicability to leasehold rights in land, creating legal uncertainty and compliance challenges for businesses.
