The Delhi High Court dismissed an appeal challenging the ITAT’s rejection of a rectification plea to recall an appeal order; the court found no mistake apparent on record and upheld the ITAT’s finding of no prejudice to the assessee.
ITAT Pune ruled that the late filing of the Form 10B audit report is not fatal to the charitable trust exemption if filed before assessment completion. The court reversed the disallowance of application of income solely based on procedural delay.
India extends anti-dumping duty on flax fabric from China and Hong Kong for five years to prevent continued dumping and protect domestic industry.
An Official Liquidator Report filed in the Gujarat High Court was disposed of, approving a final settlement payment of Rs 90 lakh to PNB and GIIC as unsecured creditors in the liquidation of Aesculapius Remedies Ltd. The funds are to be distributed under Section 530 after a CA-verified claim report confirmed the creditors’ unsecured status.
High Court ruled against petitioner, stating that offense of possessing significant cash and a gold bar is outside protection afforded by Section 218 of BNSS. Ruling affirms lower court’s order taking cognizance under Prevention of Money Laundering Act.
CBDT notifies Ayodhya Vikas Pradhikaran as exempt under Section 10(46A) of the Income Tax Act, effective from AY 2024-25, with retrospective effect.
The High Court set aside CESTAT’s remand orders, ruling that the legal challenge to DRI jurisdiction is resolved by the Supreme Court’s definitive judgment. The court condoned the substantial filing delay conditional on the deposit of ₹10,000/- in costs per appeal.
CBDT grants tax exemption to Haryana Building and Other Construction Workers Welfare Board for specific income types under Section 10(46) from FY 2025-26 to 2029-30, with compliance conditions.
The Supreme Court admitted a PIL seeking nationwide prohibition of online gambling and betting and the application of strict regulatory measures. The Court requested assistance from the Revenue’s panel counsel before proceeding with directions on taxation, blocking, and data protection reliefs.
The ITAT Rajkot set aside the addition of ₹16.99 lakhs in Long Term Capital Gain (LTCG) against the assessee, who acted only as a Power of Attorney (POA) holder for the property sale. The Tribunal remitted the matter to the Assessing Officer for fresh adjudication, noting the assessee was not the property owner or seller.
