The adjudicating authority held that omission of related party disclosures violated statutory audit obligations. The key takeaway is that auditors must ensure full compliance with AS-18 and SA-550.
The authority held that non-numbering of minutes violates Secretarial Standard-1. The key takeaway is that statutory minute-keeping requirements must be strictly followed.
The issue was whether interest on enhanced compensation could be spread over earlier years. The Court held it taxable as income from other sources in the year of receipt, subject to statutory deduction.
The court examined whether assessment orders could survive when DRP directions lacked a DIN. It held that such directions were invalid, leading to dismissal of the Revenue’s appeals.
The issue was whether ITC could remain blocked under Rule 86A for nearly three years. The Court ruled that the restriction must cease after one year and directed unblocking of the credit ledger.
The order allows lenient scrutiny of appeal documents and simplifies certification requirements. Digitally generated GSTN documents need no certification, easing compliance.
The court held that the 2025 GST exemption applies only to individual and family floater health policies. Group insurance, even when taken by seniors, remains taxable at 18%.
The issue was whether Section 153C proceedings could continue when seized material was handed over after 01.04.2021. The Tribunal ruled that such notices are barred by law, rendering the assessment void.
The case examined whether the Assessing Officer could reject a DCF valuation. The Tribunal held that commercial valuation choices, if legally prescribed and supported, cannot be second-guessed.
The Revenue treated seized cash entries as unexplained income under Section 69A. The Tribunal ruled that receipts from agricultural activities are exempt and cannot be taxed merely based on seized notings.
