The ₹8.49 lakh credited for household expenditure from husband was deleted as non-taxable. The unexplained ₹17.80 lakh in the capital account is sent back to the AO for proper verification and opportunity to furnish evidence.
ITAT found that reopening relied on wrong bank deposits, incorrect assessee details, and a mechanical sanction under section 151. The reassessment under sections 144/147 and the ₹15 lakh unexplained cash addition were deleted.
ROC Kolkata penalized company directors for exceeding the permissible gap between board meetings under Section 173(1) of the Companies Act, emphasizing strict adherence to statutory timelines.
High Courts have ruled that ITC cannot be denied to buyers with valid invoices even if the supplier’s GST registration is cancelled retrospectively. Maintain proper records to protect your claim.
SC holds that unexplained delays in filing chargesheets violate the right to speedy trial under Article 21 and can justify quashing criminal proceedings.
Supreme Court condoned a 524-day delay after noting inefficient internal procedures and repeated scrutiny steps. The ruling stresses need for streamlined administrative processes in filing appeals.
SFIO mandates digitally generated summons with QR codes and DINs, enabling online verification to prevent impersonation and misuse.
The ITAT found the AO’s valuation incorrect, emphasizing that FMV must be determined on the date of transfer, leading to the restoration of the long-term capital loss for the Assessee.
Karnataka High Court quashed several notices, assessment orders, and bank garnishments issued under sections 148A, 147, 156, and 226(3), allowing the cooperative federation’s petition.
The Tribunal directed AO to compute Section 14A disallowance only for investments generating exempt income, following Rule 8D. The decision reinforces the need for precise calculation of disallowances against exempt income.
