The ITAT ruled that tax authorities cannot deny the S.115BAB benefit after a detailed S.143(3) scrutiny order confirms the assessee as a manufacturer. The judgment emphasizes procedural consistency, overturning the CPC and CIT(A) orders.
The Tribunal remanded the case for de novo assessment to verify the reporting of cash deposits made during demonetisation under the assessee’s second PAN, citing a lack of proper opportunity for hearing.
The ITAT Agra set aside an ex-parte order dismissing a tax appeal, ruling that the CIT(A) must adhere to Section 250(6) by providing a reasoned order on the merits of the additions, even if the assessee is non-cooperative.
The Kerala High Court, in Poovachal Rural Housing Co-Operative Society Ltd. Vs JCIT, directed the Faceless Assessment Centre to use the Verification Unit for physical examination of a co-operative society’s voluminous cash book, acknowledging the difficulty of complete online submission.
While nations chase Mars and AI glory, China has quietly secured 90% control over refined rare earths—the core of all modern tech. By 2027, this dominance could paralyze global industries from EVs to defense.
After touching record highs in early October 2025, silver prices fell 8% as easing U.S.-China trade tensions and profit booking led investors to pull back. Experts say correction is healthy and offers long-term buying opportunities.
