The article examines how ambiguities in parking allotment, ownership, and management continue to generate litigation despite RERA’s transparency measures. The key takeaway is that compliance with sanctioned plans and clear documentation remain essential.
The ITAT Pune held that a genuine claim for exemption under Section 10(20) cannot be rejected merely because the assessee mistakenly claimed a deduction under a different provision in its return.
NTA supports temporary Telegram restrictions and message-editing curbs till June 2026 to address fraud and misinformation ahead of NEET UG re-exam.
RBI has simplified the regulatory framework for NBFCs undertaking agency business by removing prior approval requirements in certain cases. The key takeaway is that easier market access now comes with stricter conduct and customer protection obligations.
The ITAT Mumbai held that when the reason recorded for reopening an assessment does not ultimately result in any addition, the Assessing Officer cannot make an addition on a completely different issue.
The RBI has consolidated key regulations governing payment system operators into a single master framework. The Directions introduce perpetual authorisation, stricter eligibility norms, and enhanced compliance requirements.
The Mumbai ITAT held that an addition under Section 68 cannot be made solely on the basis of a retracted statement alleging accommodation loans when documentary evidence proves identity, creditworthiness, and genuineness.
The Mumbai ITAT held that Section 263 cannot be invoked merely because the Assessing Officer accepted income without making an addition after conducting enquiries. The ruling clarifies that revisionary powers require a lack of enquiry, not just a difference of opinion over the adequacy of verification.
The Court held that damages paid under an arbitral award do not qualify as consideration for a taxable service under GST. The ruling clarifies that the “toleration of an act” provision requires a separate agreement and cannot cover compensation payments.
The Mumbai ITAT held that reassessment proceedings under Section 147/148 were invalid where the case was based on search material requiring action under Section 153C. The ruling reinforces that search-related assessments for third parties must follow the special procedure under Section 153C, not regular reassessment provisions.
