The Madras High Court held that penalty under Section 271(1)(c) cannot be imposed where a DTAA claim was made based on a bona fide interpretation of law and full disclosure of income.
The Tribunal held that AMC services involving indeterminate acts over a defined period must follow the straight-line method under Section 43CB. The addition of ₹4.26 crore towards AMC receipts was therefore deleted.
The High Court upheld a ₹7 lakh addition after finding a major discrepancy between stock recorded in books and the inflated stock statement submitted to the bank.
IRDAI launched five working groups to resolve operational inefficiencies between insurers and hospitals. The move aims to boost transparency, coordination, and patient-centric reforms across the ecosystem.
CESTAT ruled that communication from the supplier and supporting photographs clarified the actual quantity of imported memory modules, negating the charge of mis-declaration.
The Court directed authorities to submit an updated report on illegal encroachments along the River Ganga after finding that the existing data was outdated and insufficient for final directions.
The ITAT Raipur held that the assessee had already disclosed the sale of the old car in the return of income and paid tax on the profit from the transaction. Since the sale consideration and profit were recorded and taxed, the Tribunal noted that there was no loss to the Revenue.
The High Court set aside a tax demand issued under Section 156 because it was not based on any assessment or reassessment order. The ruling held that a demand notice cannot exist without a prior order determining tax liability.
The ITAT Delhi set aside the rejection of 12A registration, holding that the applicant should be given another opportunity to submit documents proving the genuineness of charitable activities.
The ITAT Mumbai held that when stamp duty value is disputed, the Assessing Officer should refer the property to the Departmental Valuation Officer. The matter was remanded for fresh assessment.
