Entities advancing general public utility could engage in trade or business only if such activities were incidental to their primary charitable objectives and adhered to specific quantitative thresholds.
ITAT Delhi upholds penalty under Section 271(1)(b) against Sanjay Dalmia for not signing consent waiver form related to undisclosed HSBC bank account details.
ITAT Kolkata rules on property valuation under Section 56(2)(vii)(b) and jurisdiction in limited scrutiny cases for AY 2014-15, allowing Nisha Gupta’s appeal.
ITAT Chandigarh deletes ₹32 lakh addition against Pawan International, ruling cash deposits from opening stock sales cannot be treated as unexplained income.
ITAT Chennai remands ₹36.5 lakh unexplained loans case for reconsideration after assessee fails to provide sufficient evidence of creditors’ financial capacity.
NCLAT held that contempt proceedings can only be maintained if non-compliance is attributable to an individual, rather than company as an inanimate juristic person
NCLAT Chennai dismisses appeal in P. Jayagovind vs Bijoy Prabhakaran case due to full implementation of the resolution plan under IBC Sections 30 & 31.
NCLAT Chennai rules against Lanco Infratech Employees Welfare Association’s claim for retention allowance, emphasizing lack of legal entitlement.
The ITAT Mumbai dismissed the Revenue’s plea on Section 14A disallowance, ruling that the amendment introduced in Finance Act 2022 is not retrospective.
Bombay High Court dismissed PCIT’s appeal in Pravin U. Parmar’s case, upholding ITAT’s 7% gross profit addition on alleged bogus purchases due to lack of evidence.
