Madras High Court ruled that mere possession of proceeds of crime is enough to invoke PMLA. It dismissed a discharge petition, stating the act’s scope is not limited to projecting the money as untainted.
The ITAT Visakhapatnam quashed a revisionary order against the Andhra Pradesh Pollution Control Board, confirming its unutilized surplus is exempt under Section 10(46).
Visakhapatnam ITAT has remanded a tax case to AO after CIT(A) accepted new evidence without following proper procedure under Rule 46A.
ITAT Cochin has ruled that banks can claim a bad debt deduction under Section 36(1)(vii) even if their claim under Section 36(1)(viia) is disallowed. This is a crucial precedent.
Delhi High Court dismisses an appeal from the PCIT, upholding the acquittal of an assessee in a prosecution case for failure to file returns under Section 276CC.
ITAT Hyderabad rules against the re-taxing of a gift, stating that revisiting the same facts to make a new addition is an impermissible “change of opinion.”
Delhi High Court allows prosecution of Raj Kumar Kedia in a Rs. 700 crore accommodation entry scam, confirming the authority of the Principal Director (Inv.) to grant sanction.
NCLT Mumbai admits Avendus Finance’s insolvency petition against Acute Retail Infra. The court found debt and default, rejecting the corporate debtor’s objections, including the argument about a lack of specific board resolution.
Addition under section 68 for Long-term capital gains (LTCG) from sale of shares allotted pursuant to a demerger scheme as bogus and alleged that price manipulation based on a report from the Investigation Wing of the Income tax Department was not justified as the assessee proved genuineness by comprehensive documentary evidence.
ITAT Ahmedabad rules that employer contributions to an annuity plan are not taxable for VRS retirees until the benefits are actually received, providing relief from double taxation.
