ITAT Hyderabad held that notices issued under Sections 148 and 148A by a Jurisdictional Assessing Officer were invalid, stressing only FAOs can issue such notices under the faceless assessment scheme.
Discover common mistakes in GSTR-9 and GSTR-9C filings and learn strategies to prevent scrutiny, penalties, and disputes with thorough reconciliations and documentation.
The RBI grants SRO status to FIDC, enabling NBFCs to be supervised through a co-regulatory framework, improving compliance, transparency, and sectoral stability.
The MCA now mandates e-Adjudication for corporate penalties, streamlining notices, filings, and orders. This reform accelerates compliance, enhances transparency, and reduces litigation delays.
A slump sale involves transferring an undertaking for a lump-sum consideration without breaking down individual asset values. It simplifies business restructuring but triggers capital gains tax for the seller.
Detailed seized agreement and subsequent sale deed considered strong corroboration. Addition under Section 69A sustained in search-based reassessment.
Breaks down how the law protects taxpayers who misclassify supplies between intra-State and inter-State, highlighting refund rights and interest relief.
Tribunal holds that working capital impact must be examined by the TPO when comparables are selected by the Department. If adjustment is granted, no separate interest addition is warranted.
Explains how systemic reforms across banking, markets, insurance, pensions and fintech underpin India’s path toward a resilient, inclusive developed economy. Highlights the core regulatory and technological changes that drive growth and stability.
The Tribunal ruled that interest could not be disallowed when ample interest-free funds existed and no link was shown between overdraft borrowings and partners’ drawings. The key takeaway is that presumption of utilisation of own funds applies when mixed funds are available.
