Emphasising settled law, the Tribunal ruled that properly documented loan transactions cannot be rejected without cogent contrary material. The CIT(A)s deletion of additions was therefore affirmed.
The article explains that a GST first appeal must be filed within three months plus a maximum one-month condonation. Any delay beyond this statutory window makes the appeal time-barred, regardless of merits.
The Tribunal held that reassessment initiated after three years without approval from the statutorily specified higher authority is invalid. Improper sanction under Section 151 vitiates the entire proceedings.
This piece analyses why a proposed alternative to existing global institutions has faced resistance. It highlights that unilateral ambitions and past geopolitical actions undermine confidence in peace initiatives.
The adjudicating authority held that omission of a registered valuer’s report in PAS-3 filings attracts penalty under section 39(5). Voluntary disclosure does not eliminate statutory liability.
The note highlights gaps in existing tax provisions affecting families, seniors, and small investors. It suggests targeted reforms to make tax outcomes more balanced and predictable.
Clarifies that constitutional court judgments declare the law retrospectively by default. Holds that tax authorities cannot treat such rulings as merely prospective.
The issue was whether final assessment orders passed after DRP directions were barred by limitation under section 144C read with section 153. The Tribunal held that such orders passed beyond the statutory time limit are without jurisdiction and must be quashed.
The Tribunal examined suspicion surrounding a large cash advance for property. It ruled that suspicion alone cannot replace evidence, and once the transaction is substantiated, section 68 addition must be deleted.
The Tribunal held that a final assessment passed without giving effect to binding DRP directions violates section 144C. Such an order is void ab initio and cannot be sustained once the statutory time limit has expired.
