ITAT Ahmedabad rejects revenue’s objection on additional evidence, affirming CIT(A) acted within Section 250(4) powers, deleting ad-hoc disallowance.
Bombay High Court dismisses Anil Ambani’s urgent plea against a tax notice, imposes ₹25,000 cost for creating artificial urgency.
Ahmedabad ITAT upholds deletion of ₹1 Cr addition for Radhika Diamonds, noting cash sales were duly recorded and business activity not doubted.
Madras High Court rules tax authorities must adhere to official clarifications from higher officials and cannot arbitrarily reclassify goods.
Surat ITAT partly allows Jayeshbhai Chovatiya’s appeal against unexplained bank credits addition and upholds part of AO’s assessment.
ITAT Ahmedabad quashes ₹4 crore addition against Amitsingh Bhadoriya as AO relied on a bank account not admitted by the taxpayer.
Huawei Telecommunications (India) withdraws its ITAT appeals after choosing the Direct Tax Vivad se Vishwas Scheme, 2024.
CESTAT Chennai held that demand for IGST on ‘lithium-ion batteries’ at the rate of 18%, however, demand for interest set aside since section 3(12) of the Customs Tariff Act incorporated interest only with effect from 16.08.2024.
CESTAT Delhi rules penalty amounts for contract breaches are not ‘services’ under Finance Act, thus not liable to service tax.
RBI proposes new guidelines for securitization of stressed assets in India. Key highlights include pool definitions, ReM roles, and reporting norms.
