Valuer suspended for six months due to failure in properly valuing financial and intangible assets during CIRP and liquidation, with inadequate due diligence cited by ...

The Tribunal held that the penalty under Section 271B must be deleted because the quantum addition on which it depended was no longer in existence. With the foundational assessment gone, the penalty ...

A registered valuer was suspended for three months by IBBI for failing to adequately value key financial assets and trade receivables during a corporate liquidation, highlighting the need for due ...

A valuer was suspended for three months by IBBI due to alleged non-inclusion of intangibles and disputed asset valuations during the CIRP of a corporate ...

SC ordered Department to comply with High Court directions and issue C-Forms and F-Forms after verification of indemnity bonds, leaving legal questions open for future ...

The ITAT Rajkot ruled that exporters with turnover below ₹10 crore are equally eligible for 80HHC deductions, following the Supreme Court’s Avani Exports ratio. The Tribunal held that retrospective ...

The High Court set aside a GST appellate order after finding that it lacked reasoning and failed to address the taxpayer’s ITC claim made in GSTR-9. The matter was remanded for fresh ...

Given the assessee’s admission of incorrect turnover and failure to get accounts audited, the Tribunal found income estimation justified. However, finding that the AO’s 4% rate was slightly high and ...

The Tribunal ruled that duty drawback income recognized on cash receipt basis cannot be taxed on accrual, as consistent accounting practice caused no revenue ...

ITAT held that reassessment notices under sections 147/148 were invalid as the reasons were vague and lacked tangible evidence. Reopening cannot be used merely to verify or scrutinize transactions ...

The Madras High Court ruled that Section 54F of the Income Tax Act can cover multiple residential units purchased from capital gains, reversing the ITAT’s single-flat ...

Delhi High Court ruled that both JAO and FAO have concurrent jurisdiction to issue reassessment notices under Sections 148/148A, aligning with TKS Builders ...