The Tribunal held that absence of a mandatory notice under Section 143(2) vitiates the entire reassessment. Participation by the assessee cannot cure a jurisdictional defect.
NGO Darpan creates a central identity for trusts and NGOs. A valid Darpan ID is now essential for grants, CSR funding, and FCRA compliance.
Consolidated GST notices are common but risky. Their validity depends on strict compliance with year-wise limitation and clear allegations for each period.
The ROC held that uploading incorrect data and attachments in a statutory return constitutes a completed contravention. Later correction requests cannot wipe out penalty liability.
Section 194T mandates 10% TDS on salary, interest, and remuneration paid to partners. Firms must now deduct tax at source once partner-wise payments exceed Rs. 20,000 annually.
The Tribunal upheld that quarry expenses represented the cost of procuring raw material under a valid business arrangement. Denying such costs would lead to unrealistic profit margins.
The Tribunal ruled that an issue conclusively settled by ITAT, High Court, and Supreme Court cannot be revisited by the AO under Section 254. Deduction under Section 10A was ordered to be allowed.
This article outlines key GST and Income Tax resolutions for 2026. Following them helps taxpayers avoid penalties and stay compliant year-round.
The Tribunal rejected full disallowance of alleged bogus purchases and adopted a balanced approach by estimating profit at 10%. Section 68 was held to be wrongly invoked.
ITAT Ahmedabad held that the assessee is entitled to the benefit of indexed cost of acquisition while computing book profit under section 115JB of the Income Tax Act. Accordingly, AO directed to recompute book profit after allowing indexation.
