In a recent judgment, the ITAT deleted the addition made by the Assessing Officer who classified agricultural expenses as undisclosed income under Section 69C. The tribunal found…
09/12/20241 min read
Read Sorted by Latest
In a recent judgment, the ITAT deleted the addition made by the Assessing Officer who classified agricultural expenses as undisclosed income under Section 69C. The tribunal found…
The ITAT ruled that the addition made by the Assessing Officer under Section 28 iv of the Income Tax Act was unwarranted, as the free test assets had either been returned or…
The Madras High Court held that the Settlement Commission cannot invoke Section 154 of the Income Tax Act to rectify concluded proceedings or levy interest prior to 2011. The…
The Delhi High Court ruled that tangible evidence is essential to substantiate allegations of clandestine clearance and production of goods. This judgment emphasizes the necessity…
In a significant ruling, the Income Tax Appellate Tribunal ITAT has directed the reassessment of undisclosed income amounting to ₹6.61 crore, attributed to fraud allegations…
The Madras High Court set aside a GST assessment order where the Input Tax Credit ITC claimed exceeded permissible limits, after noting that the taxpayer was not provided a…
The Bombay High Court has ruled that benefits under the Sabka Vishwas Scheme, aimed at settling indirect tax disputes, extend to the redemption of fines upon application…
SEBI has introduced new timelines for merchant bankers to upload documents in the electronic repository, enhancing the regulatory oversight of capital market transactions. This…
The NCLAT has ruled in favor of Union Bank of India UBI in a case where the declaration of a loan account as a Non-Performing Asset NPA was used as the date of default for filing…
The Madras High Court has ordered the reassessment of Input Tax Credit ITC claims filed after the prescribed deadline under Section 164 of the GST Act. The Court directed that…
The Rajasthan High Court has ruled that central tax officers and the Directorate General of GST Intelligence DGGI have nationwide authority to issue Show Cause Notices SCNs under…
The Kerala GST Appellate Authority GST AA has ruled in favor of taxpayers by deleting penalties on short-paid tax, following a retrospective amendment in Section 165 of the…
The Delhi High Court has stayed the transfer of GST proceedings following a challenge to the validity of a Show Cause Notice SCN issued by the Anti-Evasion Wing. The petitioner…
The National Company Law Appellate Tribunal NCLAT has ruled that a written agreement is not mandatory to prove a financial debt, provided other materials on record substantiate…
The Supreme Court dismissed a Public Interest Litigation PIL raising grievances related to the farmers' protest but allowed liberty for petitioners to assist in ongoing cases on…
The Supreme Court recently transferred the Krishna Janmabhoomi-Shahi Idgah case from the Allahabad High Court, following petitions seeking the removal of the Idgah mosque from the…
Pixxel, a space-tech startup backed by Google, has raised $24 million in additional funding as part of its Series B round. The funds will be used to accelerate the development of…
The Calcutta High Court ruled that an order passed under Section 11 of the Arbitration and Conciliation Act, which refers the parties to arbitration, cannot be recalled once it is…
The Kerala High Court dealt with a petition involving actor Dileep's alleged VIP darshan at the Sabarimala temple. The petition raised concerns over the special treatment given to…
The ITAT ruled that a revision order issued under Section 263 of the Income Tax Act against a deceased taxpayer was invalid due to procedural lapses. The case centered on the…
The Delhi High Court ruled that Section 21F of the Arbitration and Conciliation Act is non-derogable and cannot be excluded by mutual consent of the parties. The case involved an…
The Delhi High Court appointed a sole arbitrator to resolve a gas supply dispute and invalidated the previous arbitration clause. The court found that the previous arbitration…
The Delhi High Court set aside a claim of Rs. 15 lakh awarded by an arbitral tribunal due to lack of evidence. The case involved a dispute where an arbitral tribunal had awarded…
The NCLAT ruled that Section 43 of the Insolvency and Bankruptcy Code IBC cannot be attracted if no transaction was made by the corporate debtor. The case involved a dispute over…
The NCLAT ruled that approval of a resolution plan by the Committee of Creditors CoC cannot be interfered with, despite breaches of Section 302 of the Insolvency and Bankruptcy…
The Allahabad High Court ruled that placing funds in one account before transferring them to another does not attract provisions of Section 69A of the Income Tax Act. The case…
The Delhi District Consumer Commission dismissed a complaint against Body Care, stating that no relief does not amount to deficiency of service. The complainant had alleged that…
The Delhi State Consumer Commission held that FIITJEE, an educational institute, was liable for deficiency in service after a student complained of poor-quality services. The…
The National Consumer Disputes Redressal Commission NCDRC held that using poor-quality materials during construction amounts to deficiency in service, and the builder was liable…
The Goa State Consumer Disputes Redressal Commission ruled that banks cannot be held liable for cyber frauds if the fraud occurred due to the negligent actions of the complainant.…
The NCLAT ruled that the National Company Law Tribunal NCLT can set aside the fraudulent initiation of the Corporate Insolvency Resolution Process CIRP when hearing an appeal…
The ITAT set aside the order of the Commissioner of Income Tax Appeals for failing to provide a fair hearing, remanding the case for fresh adjudication. The taxpayer challenged…
The ITAT remanded an appeal back to the CIT A under Section 249 3 of the Income Tax Act, stating that the delay in filing the appeal was not a valid reason for dismissal. The…
The Directorate General of Foreign Trade DGFT launched the revamped Preferential Certificate of Origin ECOO 2.0 system. The new system aims to simplify the process of issuing…
The ITAT treated lease rental income from unsold manufactured goods as business income, rather than income from other sources, in the case of Inox India. The company had leased…
The ITAT ruled that deductions under Section 80HHC are not available if deductions under Section 80IA of the Income Tax Act have already been claimed. The case involved a taxpayer…
The NCLAT ruled that the liquidator under the Insolvency and Bankruptcy Code IBC cannot create sub-leases over public land without following statutory requirements. The case…
The ITAT directed fresh consideration in a case involving non-compliance with income tax filing requirements due to issues with the online portal. The assessee faced difficulties…
The Madras High Court ruled that Input Tax Credit ITC is not available for goods purchased for sales promotion activities under GST. The court held that sales promotion…
The CESTAT upheld the denial of Cenvat credit to PepsiCo concerning the use of manpower supply services and anti-termite pesticide treatment services in construction activities.…
The NCLAT ruled that no pre-CIRP Corporate Insolvency Resolution Process dues can be recovered after the admission of a corporate debtor into insolvency proceedings. The court…
The Kochi GST Appellate Authority disposed of multiple appeals related to the availment of Input Tax Credit ITC under Section 164 of the CGST Act and deadlines under Section 165.…
The ITAT set aside an ex-parte order under section 143 3 of the Income Tax Act, granting the assessee another chance to present their case. The order was passed due to the…
The ITAT ruled that Hyundai Rotem's appeal concerning a time-barred income tax matter, where the delay occurred due to DRP orders, is null and void. The company challenged the…
The Jammu and Kashmir High Court dealt with a case involving cow smuggling, religious sentiments, and public order. The petitioners argued that cow smuggling activities had become…
The Allahabad High Court dismissed a petition challenging the suit filed by Hindus for the construction of a temple at the disputed Jaunpur Atala Mosque site. The petitioners…
The Bombay High Court quashed a circular that prohibited trusts from using the terms "human rights" or "corruption" in their names. The circular was issued by the government to…
The Madras High Court allowed the accused in the Kodanad heist and murder case to examine former Tamil Nadu Chief Minister Edappadi Palaniswami and V.K. Sasikala. The case…
The Delhi High Court set aside a claim of Rs 15 lakh awarded by an arbitral tribunal due to lack of sufficient evidence. The case involved an arbitration award for a disputed…
The Karnataka High Court ruled on the recording of statements under Section 164 of the CrPC in a murder case, emphasizing that such statements can be crucial in the investigation…
In a recent judgment, the ITAT deleted the addition made by the Assessing Officer who classified agricultural expenses as undisclosed income under Section 69C. The tribunal found…
Showing 50 of 42930 updates