Supreme Court declares the 25-year experience mandate for Chartered Accountants seeking ITAT positions unconstitutional, aligning with prior rulings on advocates.
Tribunal ruled that appeals delayed beyond a reasonable period without valid reasons cannot be admitted for consideration under Section 263.
The Tribunal held that notices sent to an incorrect email constituted a valid reason for delay, restored the matter to the AO, and emphasized the need for fair opportunity. Key takeaway: technical lapses in service cannot defeat substantive justice.
Tribunal emphasized reasonable opportunity of hearing and proper consideration of all evidence to resolve disputed reassessment under Section 147/144.
ITAT held that cash deposits during demonetization were explained through duly recorded cash sales supported by VAT returns and stock records. Key takeaway: When books are accepted, cash sales cannot be treated as unexplained.
Discover the major changes in the 2025 tax amendments, including exemptions, rebates, startup incentives, and digital compliance improvements.
Learn how to properly structure and account for business assets used personally to ensure tax compliance and accurate depreciation claims.
Understand how to structure contracts, manage income tax, GST, and banking when providing services from India to foreign clients.
SEBI’s 2025 amendments define roles for managing directors, executive directors, CTOs, and CISOs, strengthening governance and risk management for stock exchanges and clearing corporations.
SEBI’s 2025 amendments clarify appointments, roles, and responsibilities of managing directors, executive directors, CTOs, and CISOs in depositories to enhance governance and risk management.
