Computer-Generated Return Rejection Quashed; HC Directs Review of ₹10 Crore Tax Audit Threshold Issue

Kasthuri Medias Private Limited Vs ACIT (Karnataka High Court) The petitioner challenged an order (Annexure-E) invalidating its income tax return for the assessment year 2024–2025 and sought a direction to process the return. The return was invalidated on the ground that the taxpayer had declared gross receipts or income exceeding Rs. 10 crores under the head “Profits and Gains of Business or Profession” without getting its books of account audited under Section 44AB of the Income Tax Act. The petitioner contended that its turnover could not be construed as exceeding Rs. 10 crores, as pa...