Assessee did not comply with subsequent statutory notices, leading to an ex-parte assessment order under section 144, where the entire cash deposit was added back to its income under section 69A.
AEO Certification faces delays due to misinterpretation of the SCN disqualification clause and an inefficient, multi-layered approval process, undermining the EoDB goal.
SEBI introduced the ‘purpose and effect’ test to RPT rules, bringing transactions with unrelated parties under RPT purview if the outcome or intent is to benefit a related party.
ITAT Hyderabad rules Excel sheets from an accountant’s laptop aren’t ‘books’ or ‘assets,’ quashing reassessment notices against Exel Rubber for mechanical sanction and insufficient evidence.
Rajasthan High Court granted a one-month extension for filing TARs under Section 44AB for AY 2025-26, citing delayed audit utility release and systemic e-filing portal glitches causing widespread hardship.
Recurring advisory/consultancy services without transfer of know-how/technical skill did not satisfy “make available” requirement under Article 12(4)(b) DTAA and therefore, payments couldn’t be taxed as FTS.
Analysis of GST rules on refund of accumulated ITC due to inverted duty structure after tax rate reductions, clarifying anti-profiteering under Section 171.
The ROC Patna imposed maximum penalties on GALAXIA TOWNSHIP & HOUSING PVT LTD and its directors for non-filing of the FY 2021-22 Annual Return under Section 92(5) of the Companies Act, 2013.
The ROC Mumbai decided not to penalize China Construction Sausum (India) Pvt. Ltd. for delayed filing as the company rectified the default before the notice was issued.
ITAT Kolkata deletes Rs.8.5 lakh addition for cash gift against Abdus Sattar. Tribunal ruled that the donor’s capacity must be judged by his balance sheet, not just current income, reversing the CIT(A)’s finding.
