The issue was whether reassessment initiated by the Jurisdictional AO was valid. The Tribunal held the notice invalid as it violated mandatory faceless assessment procedures, rendering the ...

The High Court upheld deletion of additions based solely on unsigned loose sheets seized during search. In absence of independent corroborative evidence, such documents were held to have no ...

The Court held that while Section 194H applies to supplementary commission, no tax demand survives once agents have paid tax. Recovery was limited to interest under section ...

The Tribunal held that when sales are undisputed, entire purchases cannot be disallowed and only the embedded profit can be taxed, upholding a 20% ...

The Tribunal held that additions based solely on third-party GST information and suspicion cannot be sustained without independent investigation, restricting estimation to 1% of ...

The tribunal held that once penalty is imposed for non-maintenance of books, a second penalty for non-audit cannot be levied. Levy of section 271B was held to be impermissible double ...

Additions based on third-party statements alleging circular trading were rejected as they did not refer to the assessee or show any cash trail. The ruling underscores that suspicion cannot replace ...

It was held that a proposed object-clause amendment cannot justify outright rejection of 80G renewal. What matters is actual application of funds, not a removable clause in the trust ...

The Tribunal ruled that compensation and hardship allowance received during redevelopment are capital receipts and cannot be taxed as income from other ...

Validity of reopening and quantum of addition for alleged bogus purchases. Reopening upheld; addition restricted to 5% profit element. Key takeaway: Where sales and quantities are accepted, only ...

The ITAT ruled that rectification proceedings cannot substitute for an appellate remedy against an addition under section 69A. Absence of a mistake apparent from the record justified ...

The article analyses gaps in India’s current tax incentives for ESG compliance. It concludes that existing measures are inconsistent, inefficient, and insufficient to drive meaningful sustainability ...