Allahabad High Court discusses amendments to the Income Tax Act regarding reassessment proceedings, emphasizing the authority’s discretion in initiating proceedings.
NCLT convicts Port Authority officers for contempt of court in ICICI Bank Ltd Vs Lanco Babandh Power Ltd case. Detailed analysis of the disobedience of court orders and legal implications.
In Bal Krishan Das Mundhra Vs ITO case, ITAT Kolkata permits deduction of Rs. 34.2 lakhs under section 57 of Income Tax Act as taxpayer consistently follows mercantile system.
ITAT Chennai analyzes the applicability of Section 115BBE to seized cash and gold coins in the case of Uthangarai Sri Vidya Mandir Educational Trust. The trust argued that Section 115BBE applies only if no explanation is provided for the income.
ITAT Delhi dismisses DCIT’s appeal against DLF Urban Pvt. Ltd. TPO failed to apply industry filter for ALP of interest, resulting in the deletion of Rs. 6.29 crores addition.
Maddikunta Sanjeeva Reddy Vs ITO (ITAT Hyderabad): Analysis of ITAT’s decision to delete additions made by AO due to incomplete notice under section 148.
NCLT Mumbai rules that CIRP can be initiated against Prime Cargo Movers despite their claim of being a mere agent, holding them liable for debts.
ITAT Kolkata deletes Rs. 40 Lakh addition against City Shoppe Estates, affirming identity, creditworthiness of share subscribers, and transaction genuineness.
ITAT Ahmedabad rules no addition based on third-party documents in Smt. Lilaben Rameshbhai Savaliya Vs. DCIT. Detailed analysis of the case and implications.
CESTAT Chennai sets aside order rejecting customs refund for Doowon Electronics, citing lack of proper communication and natural justice violations.