ITAT deletes tax addition on Priya Enterprises’ bullion trades, ruling genuineness was settled in prior litigation and delivery proved non-speculative nature.
Mumbai ITAT rules on TDS credit for joint property sale where full TDS was in one co-owner’s name but income taxed by all heirs.
MCA amends Ind AS 21 from April 1, 2025, clarifying currency exchangeability, requiring estimated spot rates for non-exchangeable currencies, and adding disclosure rules.
CBI conducts searches at 11 locations in Jaipur, Ahmedabad, Gandhinagar in a disproportionate assets case against an IRS officer and his wife.
CBI apprehended a CGST Inspector in Ghaziabad for demanding and accepting ₹2 lakh bribe related to a GST return issue. Searches underway.
India’s government develops Climate Finance Taxonomy framework to guide climate investments. Public comments invited by June 25, 2025.
ITAT Delhi ruled an income tax assessment invalid, quashing the order. The assessment was completed by an officer lacking jurisdiction without a valid Section 127 transfer order.
Karnataka High Court issues directives to state authorities to prevent elephant deaths by electrocution, focusing on fixing power lines, removing illegal fences, and improving monitoring.
ITAT Mumbai held that addition foisted upon the assessee in injudicious manner by the lower authority demonstrates lack of requisite care and caution since neither the initiation of reassessment proceedings nor the consequent addition was warranted.
Assessee, i.e., the father of the minor, Mr. Yogesh Mafatlal Bhansali had originally filed his income tax return declaring a total income of ₹2,71,630, which was accepted after a limited scrutiny assessment under Section 143(3).
