Calcutta High Court held that deemed dividend under Section 2(22)(e) can be taxed only in the hands of a registered or beneficial shareholder. The Revenues appeal was dismissed following binding judicial precedents.
The Delhi High Court held that the period granted to an assessee for filing a reply under Section 148A(b) must be excluded while calculating limitation under Section 149. Since the Assessing Officer acted within the permissible period, the reassessment proceedings were upheld.
ITAT Bangalore held that exemption under Section 54F cannot be denied merely because the sale deed was registered after two years. Substantial investment and acquisition of rights in the property within the prescribed period were considered sufficient compliance.
The Tribunal held that long-term capital losses can be carried forward even when long-term capital gains are exempt under the India–Mauritius DTAA. Exempt gains do not enter the computation of total income and therefore cannot absorb the losses.
The Surat ITAT held that for assessment years prior to AY 2013-14, the DVO had no authority under Section 55A to reduce the fair market value adopted by an assessee based on a registered valuer’s report. The resulting LTCG addition was therefore deleted.
The Tribunal held that business promotion, petrol, and travel expenses cannot be disallowed merely on assumptions of possible personal use. In the absence of specific defects or evidence, ad hoc disallowance under Section 37(1) was deleted.
The Mumbai ITAT held that reassessment initiated beyond three years was invalid because the alleged escaped income was only ₹5 lakh, far below the ₹50 lakh requirement under Section 149(1)(b). As a result, the reassessment and consequential assessment order were quashed.
Gross GST collections reached ₹1.94 lakh crore in May 2026, registering 3.2% growth. The increase was driven largely by a 19.1% rise in GST revenue from imports despite a decline in domestic collections.
Following representations from the Bharat InvITs Association, SEBI has proposed amendments to NDCF computation rules. The draft includes safeguards such as unitholder approval and enhanced disclosures.
Section 12(3) of the Companies Act, 2013 mandates specific disclosures on company letterheads. Failure to mention the CIN and other prescribed details can result in statutory penalties.
