The notification exempts defined categories of income of a legal services authority, while warning that violations may lead to penalty and withdrawal of relief.
The Tribunal held that revision under section 263 is invalid where the Assessing Officer has already conducted enquiries and taken a conscious view. Mere inadequacy of enquiry does not justify revision.
The Tribunal held that cash withdrawn from disclosed bank accounts and duly recorded in books cannot be treated as unexplained money merely due to doubts on utilisation, in the absence of adverse evidence.
The issue was whether the appellate authority could bypass jurisdictional objections by remanding the case. The tribunal held that legal grounds striking at jurisdiction must be adjudicated first.
The dispute arose from purchases made from vendors with weak tax profiles. The Tribunal held that vendor defaults do not justify section 69C when the assessee proves the source and recording of expenditure.
The Assessing Officer accepted multiple loan transactions but treated only one as unexplained. The tribunal held that selective rejection without consistent reasoning was unsustainable.
The Tribunal confirmed that licence fees for use of immovable property fall under house property income. It emphasized that once included in computation, the same amount cannot be added again.
CBIC has operationalised capacity-based excise duty on specified tobacco goods from February 2026. The update outlines declarations, monthly filings, inspections, and abatement rules.
The post-2021 regime makes limitation a jurisdictional threshold, not a curable defect. Notices issued beyond time are void regardless of merits, reinforcing finality in assessments.
The UK overhauled crypto promotion laws after widespread misleading ads. Only FCA-approved firms can now market cryptoassets.
