The issue involved limitation for initiating proceedings where no statutory time limit exists. The Court upheld that actions must still be within a reasonable period. The takeaway is that absence of explicit limitation does not permit indefinite action.
The Tribunal held that delayed verification of an e-filed return is only a procedural lapse. Deduction under Section 80P cannot be denied when the return was filed within the due date.
The issue was whether cross-border satellite broadcasting could be taxed by a State. The Court upheld taxation based on consumption within the State, establishing that economic presence creates sufficient nexus.
Failure of the Board to appoint the first auditor within 30 days shifts the power to shareholders. The case clarifies strict adherence to statutory timelines and consequences of non-compliance under the Companies Act, 2013.
ITAT examined demonetisation cash deposits and accepted sales and withdrawals as valid sources. However, addition was partly sustained due to unsubstantiated claims like cash gifts.
The Tribunal held that disallowance of interest provision only increases business income, which remains eligible for Section 80P deduction. Hence, the addition was treated as tax-neutral and not taxable.
Gauhati High Court rules GSTR-1 vs GSTR-3B mismatch from clerical errors cannot trigger automatic tax recovery without Rule 88C process; ITC denial for FY 2018-19 invalid due to Section 16(5).
India cuts excise duty on petrol and diesel to offset global oil price surge amid war. Move aims to reduce fuel costs, curb inflation, and protect consumers and businesses.
The Tribunal held that absence of bills for agricultural sales cannot justify addition under Section 69A. Where cultivation and land ownership are undisputed, receipts cannot be treated as unexplained income.
India reduced excise duty on petrol and diesel to offset rising global crude prices due to geopolitical tensions. The move aimed to protect consumers and control inflation by limiting fuel price increases.
