ITAT held that the Assessing Officer must implement the terms of the later APA covering royalty payments to the AE. The ruling required fresh effect to be given based on the modified return.
The Tribunal held that transfer pricing adjustments must be based on international transactions and not entity-level figures. It remanded the matter after finding errors in the computation of the arm’s length price.
The Supreme Court held that once an earlier SLP has been dismissed and a subsequent review petition also fails, a fresh SLP is not maintainable without specific liberty from the Court. The ruling reinforces the principle of finality in litigation.
The Delhi High Court held that the amended limitation provision under Section 54 cannot be applied retrospectively to deny refund claims relating to earlier periods. It ruled that vested rights under the unamended law must be preserved.
The Bombay High Court held that recovery proceedings cannot continue while the statutory period to file an appeal under Section 112 of the CGST Act remains available. It ruled that premature recovery would render the statutory appellate remedy ineffective.
The Jaipur Tribunal held that every foreign asset or remittance cannot be treated as undisclosed wealth under the Black Money Act. Penalties cannot be imposed where the source is genuine, explained, and there is no intention to conceal.
Expenditure of ₹4.49 crore incurred on maintenance dredging for removal of natural siltation and restoration of the existing operational depth of the jetty constituted revenue expenditure allowable under section 37(1). Accordingly, the disallowance made by AO and sustained by CIT(A) was deleted.
The newly constructed storage tanks used for storing hazardous raw materials and finished products constituted an integral part of plant and machinery and were eligible for additional depreciation under section 32(1)(iia). Accordingly, the disallowance of ₹91.12 lakh was deleted.
The MCA has introduced temporary relief measures extending name reservation validity and e-form resubmission deadlines affected by the 05.06.2026 fire incident. Relief for previously expired cases is available through the MCA Helpdesk, subject to verification.
Explore what IBA framework says about working capital lending and its importance for stock auditors in finance discussions.
