The government has extended wheat stock limits nationwide till 31 March 2026, prescribing clear caps for traders, retailers, chain stores, and processors.
The Central Government has notified a statutory development authority under Section 10(46A), granting income-tax exemption from AY 2024–25. The benefit is conditional on continued statutory status and specified public purposes.
The government has notified a statutory local authority for income-tax exemption under Section 10(46A). The key takeaway is that qualifying development authorities can claim tax relief from AY 2024–25 if statutory conditions are met.
The government notified an urban development authority for exemption under Section 10(46A). The benefit applies from AY 2025-26, subject to continued statutory status and prescribed objectives.
ITAT held that additions under Section 68 cannot be made for an unabated year unless incriminating material is found during search. Share premium additions based only on books and enquiries were rightly deleted.
The Tribunal upheld exemption where the assessee invested the entire capital gain within time but possession was delayed due to builder-related litigation. The ruling confirms that investment, not possession, is the key requirement under Section 54F.
Proceedings were closed after it was confirmed that GST ITC benefits had already been passed on to flat buyers. The decision emphasizes that resolved ITC benefit disputes do not warrant continued proceedings.
An anti-profiteering complaint was dismissed after investigation showed the project started after GST implementation. The decision highlights that Section 171 does not apply without a pre-GST to post-GST comparison.
The SC dismissed Revenue appeals holding reassessment notices unsustainable as the issue stood concluded by an earlier binding judgment. The ruling reinforces adherence to settled law in reopening cases.
The court set aside reassessment orders and notices as the issue was already covered by an earlier judgment. Consequential proceedings were also nullified, with other rights kept open.
