The Bombay High Court rules that for Section 32AB deductions, profit must be based on the Profit & Loss Account finalized under the Companies Act, not on adjusted figures.
ITAT Chennai grants Foreign Tax Credit to Lakshmi Sundararajan, ruling that the delayed filing of Form 67 is not a mandatory reason for disallowance.
The Supreme Court of India has restored Godway Funicrafts’ review application, directing the Andhra Pradesh High Court to reconsider the 100% penalty imposed under the CGST Act.
Azam Laminators Private Limited Vs Additional Director (Madras High Court) 5% GST on Nizam Pakku – Issuance of SCN and disputing position settled by SC and Binding AAAR Ruling tantamount to clear abuse of Law: Madras High Court The Madras High Court has struck down a Show Cause Notice (SCN) issued to M/s Azam Laminators […]
The ITAT Mumbai upholds deductions for Jyothy Labs, ruling that once allowed, they can’t be denied later. The court also addressed issues on interest allocation and capital gains.
The ITAT ordered a fresh hearing for Golden Liquor Agencies, stating that a technical glitch and a wrong email linked to an ex-employee were a reasonable cause.
ITAT deleted farm expense disallowances for Crystal Hatcheries, applying Abhisar Buildwell ruling that no incriminating material means no disallowance in unabated years.
ITAT Bangalore deletes ₹25.8L penalty under Section 271D as AO failed to record satisfaction in assessment order. Procedural lapse proved fatal.
An appellate tribunal upheld a penalty on an NRI for purchasing agricultural land, dismissing arguments on the ‘omission vs. repeal’ of a key FEMA provision.
The ITAT Delhi quashed a reassessment where a Section 148 notice was sent to a deceased person, reinforcing that notice must be served on the legal heir.
