The issue was whether contingent liabilities disclosed only in the tax audit report could be added under Section 143(1). The Tribunal held that such additions require factual verification and remanded the matter for fresh adjudication.
The issue was whether a mismatch between ledger sales and P&L sales justified a major addition. The Tribunal held that reconciliation explaining VAT, service tax, and other receipts removed the difference, making the addition unsustainable.
Learn how the November 2025 wage code implementation impacts ESI, PF, gratuity, and payroll calculations, and what immediate steps employers must take.
The Gujarat High Court ruled that Section 130 can be invoked only when there is clear evidence of intent to evade tax. Routine or mechanical confiscation during transit was held impermissible.
The issue was whether appeals could be dismissed outright for delay without examining the merits. The Tribunal held that justice required restoration where plausible reasons for delay were cited and directed reconsideration.
Form 26AS helps taxpayers verify TDS, taxes paid, and refunds before filing returns. Matching it with your records reduces errors and tax notices.
Learn why regulators now require formal valuation of corporate guarantees to avoid tax, FEMA, and transfer pricing issues.
ITAT Delhi directed that a trust lacking 12A registration cannot be taxed on gross receipts; only surplus income applied outside charitable purposes is taxable.
LL Global Inc. Vs ACIT (ITAT Delhi) ₹50 Lakh Threshold Is Mandatory: ITAT Delhi Quashes Reassessment of Foreign Company as Time-Barred Delhi ITAT (Bench ‘D’) quashed the reassessment proceedings initiated u/s 147 r.w.s. 148, holding them to be barred by limitation under the amended law. The Tribunal noted that the notices u/s 148 were issued […]
The issue was whether appeals dismissed for an extraordinary delay could be restored. The Tribunal held that, despite the assessee’s lapses, justice required giving an opportunity to seek condonation and have the case decided on merits.
