The Tribunal held that purchases supported by invoices, GST records, and banking transactions cannot be treated as bogus. It ruled that documentary evidence outweighed doubts raised by the department.
The Tribunal held that the CIT(A) failed to provide reasons for rejecting books under Section 145(3). It remanded the matter for fresh examination of this issue.
The High Court held that no substantial question of law arose from the ITAT order deleting LTCG additions. It ruled that factual findings based on evidence cannot be disturbed without legal error.
The Tribunal held that LTCG cannot be treated as bogus merely based on investigation reports. It ruled that documented transactions through banking and stock exchange channels prove genuineness.
The Court set aside cancellation of GST registration as the notice failed to specify the proper officer and lacked legal validity. It held that such defects violate principles of natural justice.
The case involves whether limitation for assessment can be extended based on a DTAA information request. The High Court held such extension invalid as the request covered pre-2011 periods outside DTAA scope. The key takeaway is that invalid references cannot extend statutory limitation.
The Court held that blocking ITC without giving the taxpayer an opportunity to respond violates natural justice. It ruled that Rule 86A powers must follow due process and cannot be exercised arbitrarily.
The Supreme Court held that tax exemptions are concessions and can be withdrawn in public interest, rejecting claims of vested rights. However, it ruled that such withdrawal must be reasonable and provide a one-year notice period to avoid hardship.
Explains the full legal procedure for issuing bonus shares under Section 63 of the Companies Act, 2013. It highlights key approvals, timelines, and filings required to ensure compliance.
Section 247 now permits registered valuers to assist in search and seizure valuations. The key takeaway is expanded opportunities for professionals and improved accuracy in tax assessments.
