The ITAT ruled that additions under Section 69 based solely on third-party statements and unverified documents cannot stand. Key takeaway: credible, corroborated evidence is essential for tax ...

Disallowances under Section 40A(3) were challenged as cash payments were made on holidays and for labor. Tribunal directs reassessment considering business exigency and genuine ...

ITAT Jaipur held that addition towards unaccounted commission based on seized digital sheet without corroborative evidence is not sustainable. Accordingly, addition is deleted and said ground raised ...

ITAT Chennai held that an appeal filed under the Black Money Act with a 5-day delay cannot be condoned without a notarised affidavit supporting the delay. The appeal was dismissed in limine, ...

The import of unstudded platinum jewellery (HS 71131921) is now restricted until April 2026, requiring DGFT approval for ...

The IBBI proposes measures to enhance transparency, disclosure, and accountability in corporate insolvency resolution, including allottees’ inclusion and CoC ...

Since the CIT(E) had already accepted the assessed income by issuing Form 4 under the DTVSV Scheme, initiating revision later was held impermissible. Key takeaway: once settled under DTVSV, the ...

IBBI seeks public input on requiring directors/partners in Insolvency Professional Entities to hold a minimum shareholding or capital contribution, aiming to improve governance and ...

Explains how ESG factors now influence valuation premiums, investor confidence, and risk assessment, making sustainability a core determinant of business ...

The appeal filed by the Revenue for AY 2019-20 was dismissed as the assessee submitted all relevant documents to the AO. Written submissions and VAT summaries are not additional ...

ITAT Delhi held that the PCIT’s sanction under section 151 was granted before the AO recorded reasons to reopen the assessment, violating mandatory procedural requirements. As the jurisdictional ...

ITAT Ahmedabad held that the AO had conducted detailed enquiries into long-term capital gains from penny stock transactions, and the PCIT’s revision under section 263 was based only on an audit ...