ITAT remanded the matter where the assessee claimed PAN misuse leading to additions under Sections 68 and 69. It directed AO to verify the police report, holding that relief must be granted if misuse is substantiated.
The classification depends on whether there is actual crypto transfer. Cash-settled trades are generally treated as speculative business, not VDA income.
The Tribunal held that delay in filing Form 67 is a procedural lapse. It restored the matter to the AO to verify and allow Foreign Tax Credit if eligible.
The Tribunal held reassessment invalid as no proper sanction under Section 151 was produced. The notice under Section 148 was quashed, making all additions unsustainable.
The Court halted GST proceedings questioning mandatory 1/3rd land deduction. It held that jurisdiction is doubtful as the underlying notification has been challenged as ultra vires.
SEBI targets SPV status, borrowing ambiguity, and investment restrictions in REITs and InvITs. The reforms aim to enhance flexibility and market efficiency.
ITAT upheld addition under Section 68 as the assessee failed to prove identity, creditworthiness, and genuineness of unsecured loans. It ruled that mere submissions without proper evidence do not discharge the initial onus, and addition was rightly sustained.
GST liability depends on correct determination of place of supply. The rules define whether a transaction is intra-State or inter-State.
Companies cannot give loans or guarantees to directors or related parties. Exceptions apply only with strict conditions and disclosures.
ITAT held that interest earned by a co-operative society from deposits with a co-operative bank qualifies for deduction under Section 80P(2)(d). It ruled that such income remains eligible despite Section 80P(4), and addition made by CPC was deleted.
