The Tribunal observed that delays in completion of housing projects by builders cannot deprive a taxpayer of Section 54 benefits when the investment was made within the prescribed time. Deduction was allowed despite non-delivery of possession.
ITAT Delhi held that additions based on documents seized from a third party cannot be made under Section 143(3) without invoking reassessment proceedings under Section 148. The Tribunal quashed the assessment for non-compliance with mandatory statutory safeguards.
ITAT Delhi held that higher TDS under Section 206AA applied where the seller’s PAN was not linked with Aadhaar. However, the Tribunal observed that the tax department should have incorporated system alerts for inoperative PANs and remanded the matter for fresh verification.
The Allahabad High Court held that SGST authorities of a pure transit State cannot impose penalties under Section 129 where no tax incidence arises in that State. The ruling protects inter-State trade from excessive GST enforcement during transit movement.
The article explains that success before appellate forums depends not only on legal knowledge but also on preparation, courtroom etiquette, and communication skills. Proper presentation and strategic handling significantly strengthen a representative’s case.
The Insolvency and Bankruptcy Code (Amendment) Act, 2026 introduces creditor-led insolvency, group insolvency, and cross-border resolution mechanisms to modernize India’s insolvency framework. The article explains how the reforms aim to speed up resolutions and strengthen creditor confidence.
The MCA’s Companies Compliance Facilitation Scheme, 2026 provides major relief by reducing additional filing fees for pending annual compliances by 90%. The article explains how companies can regularize filings, avoid penalties, and reduce compliance costs.
The Bangalore ITAT held that indexation benefit for capital gains must be allowed from the year the property was first rented and income was offered to tax, not from the date of occupancy certificate.
Delhi ITAT upheld deletion of addition made under Section 69A after finding that the assessee produced complete documentary evidence for purchase and sale of LDPL shares. The Tribunal ruled that suspicion and investigation reports alone cannot override genuine DEMAT, bank and broker records.
The Supreme Court held that allegations that GPAs were executed only as loan security failed because the appellant produced no proof of loan repayment, interest payment or discharge of debt. The burden initially remained on the person alleging fraud and sham transactions.
