The High Court restrained coercive GST recovery as the show cause notice spanned six years in one proceeding. The key takeaway is that consolidated SCNs under Section 74 raise serious legal ...

Mumbai ITAT held that unexplained bank credits are fully taxable under Section 68 when beneficiaries of accommodation entries are not identified. Mere claim of acting as an entry operator does not ...

Courts have held that bona fide recipients cannot be penalised for supplier defaults. Using Section 64 against compliant buyers is disproportionate and legally ...

The Tribunal confirmed that once goods are shown to be sold, purchases cannot be treated as wholly fictitious. A limited addition to cover possible inflation was held ...

ITAT Mumbai held that a block of assets does not cease if a new asset is added before 31 March. Consequently, no short-term capital gain under Section 50 can be ...

This guide explains how life insurance needs change from youth to retirement. The key takeaway is matching coverage type and ...

The Tribunal ruled that additions under section 69 cannot exceed the amount actually invested during the relevant year. Where most payments were loan-funded, only the year-specific payment required ...

ITAT Delhi quashed reassessment issued beyond three years where alleged escapement was only ₹35 lakh. Section 149 bars reopening unless the ₹50-lakh threshold is ...

The Tribunal held that deletion of long-term capital gains without examining original partnership records was premature. The matter was remanded for fresh verification of facts and ...

The Tribunal held that additions based solely on third-party statements and seized digital data cannot survive without allowing cross-examination. The matter was remanded for fresh adjudication after ...

ITAT Chennai held that loss on sale of shares must be treated as long-term capital loss. Wrong accounting classification cannot convert it into a disallowable ...

ITAT Delhi held that reassessment based on mechanical approval is invalid in law. Sanction must reflect independent application of mind by the approving ...