Revenue issued 153C notices for years far preceding the satisfaction date. Following binding judicial precedent, the tribunal ...

The core question was whether DDA could be treated as a non-exempt payee for TDS purposes. The tribunal reaffirmed that DDA ...

The dispute centered on jurisdiction to assess under Section 153A. The Tribunal clarified that Kabul Chawla principles do not bar additions in abated assessments and ordered a de novo ...

Applying the timelines prescribed in Rajeev Bansal, the Tribunal found the notice issued after the permissible window. The ruling reinforces strict adherence to limitation in reassessment ...

The Tribunal held that a notice dated 31.03.2021 but dispatched after 01.04.2021 is governed by the new reassessment regime. Failure to follow section 148A procedures rendered the entire reassessment ...

Delhi ITAT ruled that purchases from paper companies cannot be treated as normal business expenses under Section 37(1). Fraudulent transactions with no goods delivered attract unexplained expenditure ...

The updated Directions mandate stronger customer due diligence and monitoring for NBFCs. They align domestic practices with global AML/CFT standards and take effect immediately upon ...

The trust sought exemption by invoking later registration under section 12AA. The tribunal ruled that exemption cannot be granted retrospectively through section 154 when no assessment was pending on ...

The GST system has moved to strict ledger-based validation of ITC claims. Excess or unsupported ITC will now result in GSTR-3B filing blocks and possible cash ...

Delhi High Court held that application of income tax department for release of FDR towards tax liability not entertained until conclusion of trial under Prevention of Money Laundering Act, 2002 [PMLA] ...

ITAT Pune held that provision of interest on loan from state government is ascertained liability and hence couldn’t be disallowed under section 37 of the Income Tax Act. Accordingly, the appeal is ...