ICAI’s proposal for optional joint ITR for couples faces hurdles in policy, technology, and administration. Here’s why the government remains hesitant.
ITAT Delhi upheld deletion of additions under Section 68 after the assessee proved identity, creditworthiness, and genuineness of lenders. Interest disallowance was also deleted as loans were repaid and taxed transactions verified.
ITAT Delhi held that assessments for A.Ys 2011–12 and 2012–13 were invalid since they fell outside the ten-year block reckoned from the date of receipt of seized material. The Tribunal followed CIT v. Jasjit Singh (SC) and Ojjus Medicare (Del HC) rulings.
The Supreme Court partially set aside the Enforcement Directorate’s attachment order, restoring properties to the resolution applicant for the benefit of genuine homebuyers while maintaining attachment over 11 identified units linked to alleged proceeds of crime.
ITAT Chennai held that addition under section 68 of the Income Tax Act rightly deleted by CIT(A) since cash deposit during demonetization duly reflected as cash sales and there was no abnormal spike in sales during demonetization.
High Court permits taxpayer to apply for revocation of cancelled GST registration within two weeks, directing authority to decide per law.
NCLT Ahmedabad waived the one-tenth shareholding requirement under Section 244(1)(a), allowing former ICEX promoters to proceed with an oppression and mismanagement petition.
The Delhi High Court directed Customs to enforce the 31 January 2025 Order-in-Original and release jewellery seized from two Uzbekistan nationals after payment of redemption fine and compliance with conditions.
The Delhi High Court condoned a 273-day delay in filing an appeal before CESTAT, holding that there was no evidence of deliberate inaction or mala fides by the importer.
ITAT Delhi held that comparable controlled transaction cannot be taken as comparable to benchmark the international transaction. Accordingly, transfer pricing adjustment in respect of international transaction towards payment of royalty deleted.
