The Tribunal held that once the assessee provided prima facie evidence of identity, creditworthiness, and genuineness, the ...

Learn how to manage your new credit card responsibly. From timely payments to avoiding unnecessary cash withdrawals, these ...

ITAT Surat relied on precedents (Hari Gopal, Marksans Pharma, Boparai P. Ltd.) to hold that ad-hoc or percentage-based additions do not trigger Section 271(1)(c) penalty. Appeal allowed, penalty ...

CIT(A) set aside penalties imposed for violations of Sections 269SS and 269T, as they were issued beyond the statutory limitation period. The ruling reaffirms that late penalty orders are invalid even ...

The ITAT Pune remanded a case where the first appellate authority dismissed an appeal ex-parte.  taxpayers must be given a fair hearing before dismissal, reinforcing the principle of natural ...

Court held that a consolidated SCN covering different financial years violates Section 73 and renders related demand orders void. Fresh notices may be issued within extended ...

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 deleted Rs. 59.39 lakh added under Section 69A, holding that the assessee’s cash deposits during demonetisation were fully explained via cash books and bank statements. The ruling reinforces ...

Appeal delayed by 252 days due to counsel’s oversight was condoned by ITAT citing reasonable diligence. Tribunal then reduced unexplained cash addition under Section 69A to ₹1.8 lakh using a fair ...

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

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 ...

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 ...