CBDT notifies NCCL’s Core Settlement Guarantee Fund under Section 11 and Schedule III of the Income-tax Act, 2025, subject to specified conditions.
ITAT Pune restricted estimated income to 3% of bank credits for a transport booking agent, upheld deletion of the Section 68 addition, and partly allowed the appeal.
CBDT notifies NCCL’s Core Settlement Guarantee Fund for Section 10(23EE) exemption for AYs 2019-20 to 2026-27, subject to specified conditions.
GSTAT upheld ITC profiteering findings under Section 171, ordered refund with 18% interest, and held Section 171(3A) penalty inapplicable to pre-2020 contraventions.
Vodafone Idea Limited Vs ACIT (ITAT Mumbai) Conclusion: Only the net profit element embedded in the unaccounted sales was taxable and directed the AO to compute the addition by applying a 2% net profit rate, recognising both direct and indirect business expenses evidenced by the seized material. Held: Pursuant to a search, AO found incriminating material […]
Entire central excise duty demand was set aside, permitted adjustment of excise duty already paid against the customs duty liability, quashed the confiscation of marble blocks and redemption fine, and set aside all penalties, holding that the Department had full knowledge of the assessee’s activities and that the conditions for invoking extended limitation or penal provisions were not satisfied.
ITAT Pune upheld Section 10(35) exemption on mutual fund dividend, affirmed deletion of the Section 68 addition, and dismissed the Revenue’s appeal.
Explains how Section 87A rebate and marginal relief operate above Rs. 12 lakh under the new tax regime for FY 2025-26, with calculation examples.
ITAT Pune quashed a Section 148 notice based on vague information and directed deletion of a ₹51.35 lakh addition for lack of supporting material.Cases Discussed
The article outlines factors lawyers consider when selecting criminal defence counsel, including courtroom experience, file handling, communication, and guidance.
