ITAT Delhi deleted penalties against Sahara India Commercial, citing a defective “omnibus” notice and a time-barred, invalid reassessment based on “borrowed satisfaction.”
A professional analysis of interim financial reporting under AS 25 and Ind AS 34, covering key principles, regulatory context, and practical applications in India.
ITAT Delhi held the reopening of an assessment invalid for Viramgam Mahesana Project Limited, ruling against borrowed satisfaction and a “change of opinion” by the Assessing Officer.
Understand why off-market transactions appear in your Annual Information Statement. Learn how to verify, correct, and accurately report capital gains for tax filing.
The Himachal Pradesh High Court granted anticipatory bail to a man accused of stalking, ruling that taking a woman’s photos doesn’t always meet the legal definition of stalking.
Mere initiation of reassessment proceedings, which remain unfinalized, could not be a ground to deny an assessee the benefits available under the Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024.
Addition of cash withdrawal under Section 69C in relation to the legitimate gold loan intermediary business was not justified observing that the documentary evidence including gold loan recorded validated gold loan business, thus there was no unexplained nature in the withdrawal.
Anybody carrying on the business of Digital Marketing with cash transactions both on the aspect of receipts and payments in cash below 5% of the turnover, which was below Rs.5 Crores as per the proviso to Section 44 AB (a), the said assessee was not required to file an audit report and they were exempted.
