NCLAT set aside NCLT Kolkata’s order and held that ICICI Bank’s overdraft facility backed by fixed deposits constituted a valid security interest.
Madras High Court remitted GST assessments to authorities after finding that Hind Aluminium failed to substantiate its replies and VAT turnover was included.
Understand tax implications of Joint Development Agreements (JDA) under Section 45(5A). Learn how capital gains, consideration value, period of holding, and TDS under Section 194-IC are calculated for individuals and HUFs.
Learn how to calculate tax relief under Sections 89 and 89A of the Income Tax Act for arrears, gratuity, pension, and foreign retirement income. Understand eligibility, computation steps, and filing forms 10E & 10EE.
Bombay High Court quashed reassessment notices and order for AY 2018 19 after finding they were issued to a deceased individual, explaining that jurisdiction requires serving a living person.
Delhi High Court directed payment of ₹ 36.85 lakh plus interest after Income-Tax Department delayed acting on ITAT order on indexation for inherited asset of AY 2016-17.
The Delhi High Court held that reassessment under Section 153C cannot exceed the ten-year block calculated from the date of handover of seized materials, setting aside notices for AYs 2010–11 to 2015–16.
The ITAT Mumbai held that income already taxed in the hands of a trust cannot be taxed again in the hands of its beneficiary, deleting an addition of ₹1.24 crore.
AO must apply their own mind to the contents of the DVO report and any other available material as relying solely on a DVO’s report without any independent inquiry or satisfaction was a fundamental jurisdictional flaw that invalidated the entire reassessment proceeding from the start.
Disallowance under section 40(a)(ia) and liability under section 201 operated independently, and assessee could not escape TDS liability merely by making a partial disallowance in its return.
