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Archive: 26 July 2025

Posts in 26 July 2025

AO Cannot Reopen Assessment Beyond Grounds Mentioned in Section 148A(b) Notice

July 26, 2025 1341 Views 0 comment Print

Delhi High Court sets aside tax action against Rajat Sharma’s Independent News Service Pvt. Ltd. over alleged unaccounted foreign remittances for AY 2017-18.

Insurance Policies Must Be Read Holistically: NCDRC

July 26, 2025 267 Views 0 comment Print

The NCDRC ruled that an insurance policy’s grace period starts from the electronic clearing system (ECS) dishonour date, not the premium due date, holding LIC liable for a death claim.

Understanding Critical Illness Riders in Insurance

July 26, 2025 351 Views 0 comment Print

Learn how critical illness riders in insurance offer extra coverage, types of riders available, and key terms like waiting period, exclusions, and payouts.

Occupancy Certificate Not Final for Kerala Luxury Tax if Re-measurement Shows Larger Area

July 26, 2025 330 Views 0 comment Print

Kerala High Court rules Occupancy Certificate isn’t the sole basis for building tax. Authorities can re-measure plinth area for luxury tax under Kerala Building Tax Act.

Income Tax Reassessment Beyond 3 Years Barred If Escaped Income Below ₹50 Lakhs

July 26, 2025 1101 Views 0 comment Print

Kerala High Court invalidates income tax reassessment for AY 2016-17, citing a statutory time bar as escaped income was below the ₹50 lakh threshold.

CESTAT Grants Interest on Sanctioned CENVAT Refund Claim for Delay Beyond Three Months

July 26, 2025 288 Views 0 comment Print

CESTAT Delhi rules BHEL is entitled to 6% interest on delayed CENVAT refund, overturning Commissioner (Appeals) decision.

Kerala HC Quashes Income Tax Reassessment Notice Issued on Cancelled PAN

July 26, 2025 804 Views 0 comment Print

Kerala High Court sets aside reassessment against co-operative bank, ruling proceedings based on a cancelled PAN denied effective opportunity to contest.

ITAT Upholds Addition for Agricultural Income Jump Deemed Unbelievable

July 26, 2025 804 Views 0 comment Print

Ahmedabad ITAT dismisses Jigar Patel’s appeal, affirming Rs. 49.55 lakh addition as unexplained cash credit from agricultural income, citing flood impact and lack of proof.

Portal Drop-Down Issue: ITAT Permits Re-Filing of Section 10(23C) Registration Application

July 26, 2025 291 Views 0 comment Print

ITAT Kolkata has remanded the Senate of Serampore College’s tax exemption application to the CIT(E) due to an incorrect section code, allowing college to refile.

SARFAESI Act Remedy Under DRT Bars HC Writ Petition Challenging E-Auction Notice

July 26, 2025 930 Views 0 comment Print

Kerala High Court dismisses writ petition challenging SARFAESI e-auction, citing Supreme Court precedents on alternative remedies and judicial restraint.

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