ITAT Pune held that the Section 263 revision was unsustainable as the AO conducted adequate scrutiny and expenses were recovered from associated enterprises. Expenditure classification did not make ...

The Tribunal held that the original assessment was not erroneous or prejudicial except for TDS verification and PF/ESI disallowance. The assessee’s claim under Section 10AA was rejected. Compliance ...

Discover AI applications that streamline compliance, tax filings, and audits, helping CA firms save hours daily while improving ...

Receipt and repayment of Rs. 2.02 crore via proper banking channels establishes genuineness of the transaction; Section 68 addition was deleted despite non-materialisation of ...

Learn how Section 67 of the CGST Act empowers authorities to inspect and seize goods or documents, and how taxpayers’ rights are ...

The Tribunal held that the reassessment was invalid because the AO relied on outdated investigation data without linking it to the assessee’s transactions. Since the information pertained to a period ...

The DGFT amended procedures to allow import and export of gems and jewellery parcels through Ahmedabad Airport. The update expands approved airports under Paras 4.87(a) and ...

ITAT Mumbai held that transaction of sale of shares is not business income since assessee was never involved in the business affairs of the company. Further, consideration is treated as capital gain ...

Explains why denial of an SPL-02 waiver under Para 4(4) is incorrect when interest and penalty stem from a Section 73 adjudication. Clarifies that such cases rightly qualify for Section 128A ...

The circular introduces Life Cycle 75 and Aggressive options, expanding NPS investment choices to six. The update allows higher equity exposure with structured age-based ...

The ITAT Ahmedabad quashed PCIT’s revisionary orders, holding that Section 263 powers cannot be used when the AO has made thorough enquiries. Revision requires demonstrable error prejudicial to ...

The ITAT held that without a condonation petition, a 300-day delay cannot be excused. The ruling underscores that delay must be justified before merits—including Section 80P—can be ...