The circular addresses gaps in online banking by laying down granular compliance norms for information, interactive, and ...

The Delhi ITAT (SMC), in KU Power Projects Ltd. v. ITO (ITA No. 7096/Del/2025, AY 2017-18; order dated 24.12.2025), has allowed the Assessee’s appeal in full, deleting both the addition u/s 68 and the ...

The Delhi ITAT (SMC), in Rajlaxmi Charitable Trust v. ITO (Exemption) (ITA No. 7582/Del/2025, AY 2016-17; order dated 24.12.2025), has allowed the Assessee-trust’s appeal and held that delay in ...

The case involved alleged bogus purchases backed only by invoices and bank payments. The Tribunal held that without confirmations, transport evidence, or delivery proof, such purchases cannot be ...

The issue was whether reassessment could be initiated while the time to file a belated return was still open. The Tribunal held such reopening premature and void, as income cannot be said to have ...

The case involved a massive section 68 addition sustained solely due to non-admission of evidence under Rule 46A. The Tribunal held that procedural lapses cannot override substantive justice and ...

The Tribunal held that a summary and presumptive approval under Section 153D vitiates the entire assessment. Lack of ...

The Tribunal reaffirmed that satisfaction must be recorded contemporaneously or immediately after the searched person’s ...

The tribunal ruled that section 263 cannot be invoked merely because the Commissioner believes further enquiry was possible.

NCLT Mumbai held that since existence of financial debt and default thereon is established, application filed under section 9 ...

The tribunal ruled that rejecting books and estimating profits bars further item-wise disallowances. Authorities cannot “blow ...

Explains the shift from Assessment Year to Tax Year, simplifying compliance and reporting. Takeaway: Taxpayers can now file for the same year income is ...