ITAT Pune held that a claim of agricultural income cannot be accepted without supporting records. Complete non-compliance at ...

The High Court held that assessment orders under Section 62 of the CGST Act automatically lapse once pending returns are ...

The analysis holds that FEMA treats NRIs and OCIs identically for acquisition, transfer, and repatriation of immovable ...

Courts are divided on whether the DRP-specific deadline under Section 144C(13) overrides the general assessment time bar in Section ...

The government clarified that shell companies are not defined in company law, but inactive entities are removed through statutory strike-off provisions. The key takeaway is that enforcement relies on ...

The government disclosed large-scale strike-offs of inactive and non-compliant companies. The key takeaway is stricter enforcement of filing and operational ...

This explains when investment values must be written down under AS 13 and Ind AS, and why recognising impairment is essential for accurate financial ...

The ITAT held that revision under Section 263 cannot be invoked merely because the PCIT disagrees with the Assessing Officer’s view. Once enquiries are made and explanations accepted, substitution of ...

The ITAT held that additional evidence filed under Rule 46A cannot be brushed aside without examination. Since the documents were vital to Section 68 requirements, the matter was remanded for fresh ...

The Tribunal held that an ex-parte capital gains addition could not be sustained where the assessee was denied a meaningful opportunity. Considering comparable treatment in a related case, the matter ...

The Tribunal held that an appeal cannot be dismissed solely on limitation without examining reasons for delay. The matter was remanded to decide condonation first, reinforcing natural justice ...

ITAT held that disclosures in an election affidavit cannot, by themselves, justify reopening an assessment. The ruling reinforces that reassessment requires fresh tangible material and a live link to ...