The High Court rejected the challenge to reassessment notices issued by the Jurisdictional Assessing Officer. It held that the issue was already settled against the assessee.
NBFCs must disclose detailed loan and contract exposures to related parties, including NPAs and provisions, enhancing transparency and risk oversight from the new effective date.
The Tribunal remanded the case because the Commissioner (Appeals) decided a Section 248 appeal without hearing the Assessing Officer. The ruling highlights that statutory hearing requirements under Section 250 must be followed.
The High Court held that Fringe Benefit Tax and Section 14A disallowance cannot be added while computing MAT under Section 115JB. The ruling confirms that only adjustments expressly permitted by law can alter book profits.
The issue was whether share sale proceeds could be taxed as unexplained based on general investigation reports. The Tribunal held that without concrete evidence linking the assessee to manipulation, additions cannot survive.
RBI has amended financial statement disclosure norms to include granular reporting of related party exposures. The move strengthens oversight of credit risk and governance.
The issue was whether penalty could be sustained when the notice alleged under-reporting but the order punished misreporting. The Tribunal held such variance impermissible, rendering the penalty void.
The issue was whether LTCG could be taxed in a search assessment without incriminating evidence for the year. The Tribunal held that, absent such material, additions under section 153A are unsustainable.
This guide explains how to log in, download, install, and run the Secure Examination Browser. It highlights key precautions like disabling pop-up blockers and ensuring stable internet connectivity.
Regulators have opened the door for banks to independently set up pension funds under strict eligibility norms. The move is aimed at improving competition, governance, and subscriber protection in the NPS.
