Addition for excessive shortage not sustainable if trading account of assessee are accepted to be correct and complete and AO Cannot make addition of profit under Section 41(2) on assumptions and presumptions
Read the full text of the judgment/order by Allahabad High Court regarding levy of late fees/interest where errors by bank/GSTN don’t involve the assessee.
In a landmark ruling, the Supreme Court imposes Rs 5 lakh cost on the Union Govt for filing frivolous petitions, cautioning against future abuses of legal process.
Explore the Bombay High Court’s ruling on the refund issue in Grace Associates Vs Union of India case. Detailed analysis and implications discussed.
Detailed analysis of ITAT Delhi order in Instrumentation Laboratory India Pvt. Ltd. vs. DCIT, addressing assessment order dispatch after the limitation period, leading to partial allowance of appeal.
Explore Supreme Court’s directive on vacant posts in pollution control boards and the Municipal Solid Waste crisis in Delhi. Detailed analysis and directives provided.
Explore the CESTAT Ahmedabad ruling on liability for duty on fire bricks dismantled from kilns. Analysis, precedent, and conclusion provided in this detailed article.
Madras High Court remands GST assessment order challenged on grounds of lack of communication. Detailed analysis of the case and conditions for remand.
Supreme Court dismisses appeal filed by CIT (International Taxation) against Bharti Airtel Limited due to delay in filing. Court finds explanation regarding delay insufficient.
Learn about the Supreme Court’s rejection of review petitions by the Commissioner of Income Tax, reducing tax liability of foreign software sellers to 2% equalisation levy from the 10%-15% royalty tax.
