The issue was whether reassessment can proceed without furnishing recorded reasons despite a taxpayers request. The Tribunal held that failure to supply reasons is a jurisdictional defect that ...

The issue was whether a flat 12.5% disallowance on alleged bogus purchases was justified. The Tribunal ruled that when sales are accepted and books are not rejected, only a lower, reasonable ...

The tribunal held that suspicion, abnormal price rise, or third-party reports are insufficient to deny LTCG exemption. Revenue must establish direct involvement of the taxpayer in price ...

The Tribunal held that a Section 54 exemption can be claimed in a reassessment return if it directly relates to escaped income. Delay or non-filing of the original return under Section 139(1) alone ...

The issue was whether a recorded share investment can be treated as unexplained under Section 69. The Tribunal held that once an investment is recorded in the books and its source is not doubted, ...

The issue was whether penalty can survive once the underlying addition is deleted. The Tribunal held that penalty has no legs to stand when the quantum addition no longer ...

The reassessment relied entirely on allegations arising from a search on another entity. The Tribunal ruled that additions cannot survive without independent evidence directly linking the ...

The issue was whether reassessment is valid when reasons for reopening are not placed on record. The Tribunal held that non-recording of reasons under Section 148(2) vitiates jurisdiction, rendering ...

This ruling clarifies that an assessee can be treated as an agent of a non-resident only if income is received directly or indirectly for the NRI. In the absence of such receipt or business connection ...

The High Court held that a direct appellate challenge to the final removal order was not maintainable. The appeal was ...

The Court will examine whether corporate guarantees issued by a parent company to its subsidiaries amount to a taxable supply ...

Silver futures surged on import duty hike rumours, creating an unprecedented premium. The issue highlights risks of information leakage and the need for swift regulatory ...