Delhi ITAT deleted a 69C unexplained expenditure addition for alleged bogus purchases, ruling that when corresponding sales are accepted and payments made via banking channels, the purchase cannot be disallowed without tangible proof of manipulation.
Bombay HC clarified Section 276C(2), holding that mere failure to pay self-assessment tax is not willful evasion, quashing prosecution after tax was paid belatedly.
The ITAT deleted a protective addition under Section 68 for cash deposits after finding the same income was already declared and taxed in the partners’ individual returns, rendering the firm’s assessment redundant.
ITAT Delhi rules DigiCert Inc’s receipts from Indian resellers for digital security certificates aren’t royalty or FTS. It’s a non-taxable sale of a copyrighted article.
upreme Court held that a trust is not a separate legal entity under the Indian Trusts Act, 1882, and only its trustees can be held accountable. A criminal complaint under the NI Act can proceed against the chairman without naming the trust.
A company’s right to TDS credit was upheld despite the tax being erroneously reported under its former firm’s PAN and not in Form 26AS. The Tribunal ruled the credit follows the income.
The Supreme Court ruled that recording reasons to believe is mandatory for all warrantless searches under special laws, reinforcing due process and preventing arbitrary action.
Pune ITAT deletes disallowance of cash-based remuneration to partners and salaries to employees, finding no legal bar or evidence of inflated expenses.
ITAT Delhi rules Section 68 inapplicable as purchases were genuine and creditors identified. ₹3.36 Cr addition deleted in Shiv Hari Singla vs ITO case.
The 56th GST Council meeting reduces tax rates on essentials, insurance, autos, medicines, and more while introducing a simplified two-rate GST structure.
