Section 7 insolvency application filed by State Bank of India (SBI) was admitted against Martina Bio Genics Private Limited and held that pending winding-up proceedings could not override the objective of corporate revival under the Insolvency and Bankruptcy Code, 2016 (IBC).
Appellants activity of providing trailers along with drivers, crew, fuel, insurance and retaining effective control and possession thereof was appropriately classifiable under the category of Supply of Tangible Goods Service” and not under Goods Transport Agency Service.
This guide outlines the complete ITR filing checklist for AY 2026-27, from AIS reconciliation to e-verification. It helps salaried taxpayers avoid errors, notices, and refund delays.
The Madras High Court set aside an ex parte GST assessment after the taxpayer claimed that notices were served only through the GST portal. The key takeaway is that taxpayers may receive a fresh opportunity to contest proceedings where effective participation was lacking.
The Madras High Court set aside an ex-parte GST assessment against a second-hand mobile phone dealer who claimed taxation should apply only to the margin under Rule 32(5).
ITAT Chennai held that reopening an assessment after four years based on issues already examined during scrutiny amounted to an impermissible change of opinion. The key takeaway is that reassessment cannot be used as a tool to review a concluded assessment without fresh tangible material.
This guide explains how taxpayers can select the correct ITR form based on their income profile and tax status. It highlights eligibility conditions and common mistakes that may lead to defective return notices.
The Assessing Officer examined the audited books, balance sheet, and supporting records but did not identify any discrepancy or reject the accounts. ITAT held that, in such circumstances, invoking Section 115BBE was unsustainable.
The Tribunal deleted the addition after finding that the taxpayer had furnished complete documentary evidence of purchase and sale of shares. The ruling emphasizes that suspicion, however strong, cannot replace legally admissible evidence.
ITAT Delhi held that reassessment based solely on Investigation Wing reports without independent enquiry is invalid. The ruling emphasizes that borrowed satisfaction cannot justify reopening under Section 147.
