The court held that parties cannot introduce additional evidence as a matter of right under Rule 29. The ITAT’s acceptance of Revenue-filed evidence and remand order was set aside as beyond jurisdiction.
The issue involved rejection of an appeal against GST cancellation on limitation grounds. The Court granted relief by following consistent precedents, allowing restoration subject to compliance conditions.
The issue involved denial of exemption on sale of agricultural land. The Tribunal held that the land met conditions of Section 2(14)(iii), making gains non-taxable. The case examined whether land sale constituted business income. The Tribunal ruled that absence of development or trading intent invalidated such classification.
Tribunal holds buyer’s intended industrial use does not alter land classification; gains from sale of agricultural land held non-taxable.
The court held that revision under section 263 requires independent satisfaction by the PCIT. Acting merely on the Assessing Officer’s view renders the revision order invalid.
The circular addresses the need for standardized regulatory knowledge among intermediaries. It mandates certification for key personnel to ensure compliance and improve operational standards.
The issue concerns identification of systemically important insurers. The regulator retained the same entities, emphasizing their critical role and need for enhanced supervision.
IRDAI directs insurers to follow anti-dark pattern guidelines and submit compliance reports. The move strengthens consumer protection in digital insurance platforms.
SEBI noted that earlier concerns on unequal taxation have been addressed under the new capital gains regime. The proposal aims to restore open market buy-backs with safeguards ensuring fairness and transparency.
RBI now permits residents to exchange Indian Rupees at forex counters located beyond immigration in airport departure areas. This move enhances convenience for outbound travelers by enabling last-minute currency exchange.
