The ITAT set aside the appellate order after finding that the appeal was dismissed without proper hearing or examination of the assessee’s case.
The case addressed whether recorded purchases of ₹4.55 crore could still be treated as unexplained income. The Tribunal held that without evidence of off-book investments, section 69 has no application.
The High Court rejected a long-pending challenge, holding that DRI officers are competent to issue show cause notices under Section 28 of the Customs Act.
The High Court set aside the appellate order rejecting the petitioner’s delayed GST appeal, recognizing the death of the engaged Advocate and family circumstances as sufficient grounds for delay.
ITO Vs Srichand Mandhyan (Supreme Court of India) Supreme Court considered a Special Leave Petition challenging an order passed by the Bombay High Court. After hearing the learned counsel for the parties and examining the material on record, the Supreme Court found no valid ground to interfere with the High Court’s decision. Accordingly, the Special […]
Bombay HC held that reassessment notices issued with sanction under an incorrect statutory provision are invalid, leading to quashing of notices, assessments, and consequential demands.
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The Tribunal held that Bills of Entry cannot be reassessed after goods are cleared merely to claim a refund based on a later Supreme Court decision in another case.
NFRA requires statutory auditors to assemble, archive, and submit audit files promptly, ensuring audit documentation is authentic, complete, and retrievable under professional standards.
The analysis holds that FEMA treats NRIs and OCIs identically for acquisition, transfer, and repatriation of immovable property, ensuring continuity of property rights despite a change in status.
