The Tribunal condoned a delay of 615 days after finding that the assessee was actively pursuing rectification remedies under Section 154. It held that such bona fide conduct constitutes sufficient cause and delay cannot be treated as negligence.
ITAT held that an unexplained delay of over 11 years cannot be condoned without valid reasons. The appeal was dismissed as no sufficient cause was proved.
The case examined whether sanction by JCIT was valid for reassessment beyond four years. The court held that such approval was invalid, making the notices unsustainable.
The case examined whether Tribunal approval was required for extending preference share redemption. It was held that such extension within 20 years does not require NCLT intervention and can be done with shareholder consent.
The amendment introduces imprisonment for failure to comply with NFRA orders. Auditors now face criminal consequences beyond financial penalties.
CESTAT Chennai held that clearance of personal computers from Special Economic Zone [SEZ] to Domestic Tariff Area [DTA] cannot be automatically classified as imported for personal use under CTH 9804 90 00 without discharging burden of proof. Accordingly, classification based on assumption set aside and appeal is allowed.
The amendment introduces a statutory route for AIF trusts to convert into LLPs. This enables better structuring but requires investor consent and careful liability assessment.
The article highlights how higher GST on battery rentals erodes cost advantages of BaaS. It emphasizes the need for tax alignment to support EV adoption.
ITAT held that late filing of Form 67 is only a procedural lapse and not a ground to deny FTC. The matter was remanded for verification and grant of eligible credit.
The continued use of old Form 13 instead of Form 128 reflects system lag. The issue underscores the need for synchronization between law and digital compliance tools.
