The Tribunal held that the appellate authority exceeded jurisdiction by restoring the matter to the Assessing Officer for fresh assessment. It directed the CIT(A) to decide the deemed dividend addition on merits as raised in appeal.
The Tribunal held that cash deposits made during demonetization cannot be treated as unexplained under Section 68 if sufficient cash balance is recorded in regular books of account.
IFSCA has prescribed a standard Net Worth Certificate format and detailed audit checklist for Global Access Providers. GAPs must submit certified net worth statements annually and undergo mandatory peer-reviewed audits to ensure regulatory compliance.
IRDAI has issued key clarifications allowing insurers to invest in AIFs using SEBI-compliant Excusal Rights, provided funds are not deployed overseas. The circular introduces strict documentation, audit, and certification safeguards under Section 27E.
The Tribunal held that after submission of primary creditor details, the burden shifted to the AO to disprove the claim. The case was remanded to ensure fair opportunity and proper inquiry.
The guide outlines eligibility, documentation, and ROC filing requirements for converting an LLP into a private company under the Companies Act, 2013.
The Tribunal held that treating part of the disclosed sale proceeds as unexplained cash credit amounts to double taxation. It directed deletion of the addition to the extent linked to the accepted sale consideration.
TAN requirement removed and PAN-based challan introduced for resident buyers purchasing property from non-residents, easing compliance procedures.
The new rules increase duty-free allowances by 50% and shift gold jewellery to a weight-only system, replacing value caps under the 2016 framework.
In a case involving delayed filing of annual returns for FY 2013–14, the ROC declined to impose penalty under Section 454. The order clarified that pre-2018 defaults fall under the fine regime, not the penalty regime, leaving compounding as the appropriate remedy.
