ITAT Hyderabad held that re-assessment under section 148 merely based on borrowed satisfaction, without any independent verification and application of mind, is invalid and liable to be quashed. Accordingly, notice u/s. 148 and consequent order quashed.
Analysis of US tariffs on India’s textile industry: reduced exports, pricing pressure, competitive disadvantage, and potential strategic responses.
Supreme Court quashes rape case, citing consensual relationship from the beginning despite a promise of marriage. Court emphasizes lack of deceit or force.
ITAT Pune allows 80P(2)(d) deduction for cooperative society’s interest income from cooperative bank investments.
Kolkata High Court grants stay on tax recovery in Adani Wilmar case, pending Appellate Tribunal formation, following Finance Ministry circular.
Rajasthan High Court held that initiation of proceedings under section 153C of the Income Tax Act based on WhatsApp chats with specific inputs cannot be said to be vague or hit by the strict parameters of Section 153C of the Income Tax Act.
Kerala High Court directs consideration of Section 74 CGST/SGST invocation as a preliminary issue in Honey Rose Varghese vs. State of Kerala.
ITAT Jaipur quashes penalty under Section 271E of the Income Tax Act in Anil Sharma vs. ITO due to absent recorded satisfaction.
Madras High Court held that re-opening u/s. 148 read with section 147 of the Income Tax Act not sustained as there is no failure on the part of assessee to fully and truly disclosure all the material facts. Thus, notice and order quashed.
Patna High Court held that Faceless Assessment Procedure as prescribed under section 144B of the Income Tax Act is duly followed and in course of faceless assessment at every stage approval from competent authorities have been obtained.
