DCIT Vs Shikha Indrakumar Agrawal (ITAT Nagpur) The Nagpur Bench of the Income Tax Appellate Tribunal dismissed the Revenue’s appeal and upheld deletion of additions made under Sections 68 and 69C in respect of long-term capital gains claimed as exempt under Section 10(38) on sale of listed shares. The assessee had purchased 24,000 shares of […]
Jageswar Saw Vs Deputy Commissioner of Revenue (Calcutta High Court) The Calcutta High Court dismissed an appeal challenging detention of an excavator and levy of penalty under Section 129 of the West Bengal GST Act, 2017, holding that incorrect declaration in transport documents and improper execution of delivery challan justified action by the tax authorities. […]
The Tribunal held that unrecovered advances made in the ordinary course of business can be allowed as business loss, even if they do not qualify as bad debts under section 36.
The Tribunal held that courses imparting practical skills qualify as vocational training even without guaranteed employment, allowing exemption under the notification.
The Tribunal found that the assessee had furnished agricultural sale bills, revenue records, and bank details supporting the cash deposits. Considering the facts and circumstances, only a partial addition was sustained.
The NCLT Bengaluru admitted insolvency proceedings against the Corporate Debtor after finding that loan documents, statements of accounts, and recall notices established existence of debt and default. The Tribunal held that once default is proved under Section 7 of the IBC, admission of the petition follows.
The Delhi High Court held that CBDT Circular dated 18.11.2024 clearly prescribed a maximum period of three years from the end of the relevant assessment year for seeking condonation of delay. Since the application for AY 2020-21 was filed after 31.03.2024, the Court upheld its rejection as time-barred.
Alternative Investment Funds provide access to private equity, startups, infrastructure, and high-growth investment opportunities beyond traditional instruments. This guide explains how AIFs work and who should invest in them.
The Central Government has authorized the GSTAT Principal Bench, New Delhi, to hear appeals under Section 101B of the CGST Act. The notification gives retrospective effect from 1 April 2026 and strengthens the GST appellate mechanism.
SEBI stated that improved cyber resilience, alternate trading sites, and contingency trading frameworks made the IRRA platform unnecessary. The circular supersedes the earlier 2022 framework establishing the platform.
