Delhi High Court ruled that prosecution under Income Tax Act Sections 276C and 278E can proceed when evaded tax exceeds Rs.25 crores, even if appeals are pending, confirming proper authority delegation.
The ITAT ruled that property sold by a discontinued partnership must be taxed in the firm’s hands, not its former partners, emphasizing correct ownership for capital gains assessment.
The Court held that a notice fixing a hearing merely for uploading an order serves no purpose and violates procedural norms. It directed the authority to issue a valid notice and decide the appeal afresh.
The ITAT upheld the deletion of a ₹305.49 crore penalty imposed on a bank, ruling that section 115JB (MAT) does not apply to banks under the Banking Regulation Act. The decision emphasizes that penalties linked to inapplicable provisions cannot be sustained.
The Commissionerate seeks experienced audit firms to undertake statutory Special Audits covering turnover, ITC, tax payments and potential evasion. The framework outlines duties, conflict-of-interest safeguards, reporting requirements and fee slabs based on turnover.
The High Court took suo motu cognizance of an incident where a lawyer was assaulted by police, emphasizing mutual respect and cooperation between advocates and law enforcement.
Discover common mistakes in GSTR-9 and GSTR-9C filings and learn strategies to prevent scrutiny, penalties, and disputes with thorough reconciliations and documentation.
Breaks down how the law protects taxpayers who misclassify supplies between intra-State and inter-State, highlighting refund rights and interest relief.
The ROC penalised the company and its officers for failing to disclose title deed details in the Board Report. Although decriminalised for the relevant years, the violation was recorded and statutory penalties were imposed under Section 454.
The Tribunal held that agricultural income cannot be disallowed merely due to a year-on-year increase. Since land ownership, crop details, and receipts were undisputed, the addition was deleted.
