ITAT Mumbai rules against Section 56(2)(vii)(b) addition, stating property valuation should be based on the agreement date, not registration, when payments are made by banking channels.
ITAT Chennai remands Murugan Doraisamy’s case, allowing re-evaluation of Section 54F deduction despite a delay in Capital Gains Account deposit.
ITAT Mumbai ruled against reopening assessments for penny stock LTCG without independent proof of accommodation entries, emphasizing genuine investor transactions.
Madras High Court held that delay of more than 17 years in adjudication of show cause proceeding without justifiable reasons is arbitrary and offending under Article 14 of the Constitution of India. Thus, proceedings are dropped and writ petition is allowed.
Andhra Pradesh High Court sets aside GST assessment order lacking officer’s signature and Document Identification Number (DIN), citing judicial precedents. Case remanded for fresh assessment.
ITAT Jaipur held that newly inserted Explanation 2(a) to Sec. 263 does not give unfettered powers to Commissioner to revise each order. Held that revisionary proceeding u/s. 263 not justified as order not erroneous or prejudicial to interest of revenue.
Understand the Companies Act’s provisions for business commencement in India, including Form INC-20A filing, deadlines, penalties, and exemptions.
A recent Ministry of Steel order requires immediate BIS certification for steel input materials, disrupting imports and raising concerns for MSMEs due to the impractical three-day compliance window and potential cost increases.
Learn to extract capital gain details from your AIS for accurate ITR filing. This guide covers accessing the AIS, using the utility, and verifying transaction data.
NCLAT Delhi held that once moratorium is declared, suspended management is also strictly prohibited from directly or indirectly deploying the funds of the Corporate Debtor unilaterally, without the authorisation of IRP, to clear any dues of any Financial Creditor or Operational Creditor.
