ITAT Lucknow dismisses revenue appeal, annulling reassessment against Mohd. Ayub Mohd. Yaqub Perfumers, citing lack of nexus and concrete evidence.
ITAT Ahmedabad ruled on Unimed Technologies’ software license and renewal expenses, classifying them as revenue. The tribunal also addressed interest expenditure disallowance.
Delhi ITAT nullifies an assessment, ruling that an Assessing Officer lacks jurisdiction without a valid Section 127 transfer order. Absence of the order makes proceedings invalid, affirming procedural adherence.
ITAT Bangalore dismisses revenue’s appeal, ruling that income addition based on third-party seized document lacks corroboration and cannot use search presumptions.
SEBI extends the implementation date for its circular on safer retail investor participation in algorithmic trading from August 1 to October 1, 2025.
ITAT Ahmedabad upholds reassessment validity despite technical error, but incomplete text prevents full summary on undisclosed income addition.
SEBI updates rules for Specialized Investment Funds (SIF), outlining procedures for monitoring minimum investment thresholds and actions for active breaches, including unit freezing and auto-redemption.
Calcutta High Court issues interim order on ITC denial when suppliers are insolvent. It examines if tax authorities’ failure to claim in IBC proceedings affects ITC reversal.
Calcutta High Court voids GST assessment and appeal dismissal for Ram Kumar Sinhal, citing violation of natural justice, improper notice communication via GST portal, and condonable delay.
The Supreme Court of India dismissed a challenge to the retrospective application of an amended GST Rule 89(5) for Inverted Duty Structure (IDS) refunds, affirming a Gujarat High Court judgment.
