The Tribunal observed that reliance on third-party statements without providing cross-examination rendered the additions legally unsustainable. The judgment highlights the procedural safeguards available to taxpayers in search-related proceedings.
The key issue was whether the absence of corresponding entries in Form 26AS justified denial of TDS credit. The ITAT held that employees should not suffer adverse consequences due to the employer’s failure to comply with TDS obligations.
The Tribunal ruled that reassessment proceedings initiated on the basis of an invalid Section 148 notice were void ab initio. It observed that where jurisdiction itself is lacking, the proper course is to annul the proceedings rather than remand the matter. The decision underscores the mandatory nature of statutory limitation periods.
Bangalore ITAT held that the Revenue cannot deny the fifth-year deduction under Section 35D after consistently allowing the claim in previous years. The ruling reinforces the principle of consistency in tax assessments.
Statutory audit offers exposure to accounting, taxation, compliance, internal controls, and business operations during articleship. The key takeaway is that it helps CA students build a versatile skill set and a strong professional foundation.
The Revenue treated a ₹2 crore accumulation disclosed in Form No. 10 as unaccounted income of the trust. The Tribunal ruled that procedural filings cannot substitute evidence of actual income and deleted the addition.
The issue concerns confusion regarding the purpose and sequencing of GSTR-1 and GSTR-3B filings. The key takeaway is that GSTR-1 should be filed first to ensure proper ITC flow and avoid reconciliation mismatches and scrutiny.
The First Appellate Authority found that the appellant had indeed paid Rs. 2,500 to the IBBI despite the CPIO stating otherwise. The Board was directed to refund the amount in accordance with applicable grievance regulations.
Drug Licenses are essential for businesses involved in selling, distributing, manufacturing, or importing medicines. The licensing system safeguards public health and ensures regulatory compliance.
The IBBI held that while information available with a public authority can be accessed under the RTI Act, the CPIO is not required to collate or present it in a format preferred by the applicant. Publicly available information need not be recompiled for RTI purposes.
