Delhi High Court held that denial of benefit of Input Tax Credit [ITC] due to non-filing of TRAN-1 not justified since the ...

ITAT Delhi emphasized that FAR analysis governs segmentation for transfer pricing purposes. Artificial aggregation without ...

The dispute involved penalties on bank interest earned by a mutual entity prior to a change in law. The Tribunal held that a bona fide claim based on settled law cannot be treated as concealment, ...

ITAT Hyderabad held that interest paid on account of delayed remittance of TDS cannot be treated as business expenditure under section 37(1) of the Income Tax Act. Accordingly, order disallowing the ...

The ITAT held that cancellation of provisional registration merely for non-compliance with notices is unsustainable when lapses are not deliberate. The case was remanded to allow the applicant a fair ...

The Tribunal examined whether reassessment beyond three years was valid when the assessed escaped income was only ₹13.98 lakh. It held that failure to meet the ₹50 lakh threshold under section ...

The ITAT held that a technical error in selecting an incorrect clause of section 12A(1)(ac) cannot justify rejection of registration. Where activities are genuine, authorities must allow rectification ...

The High Court ruled that wilful default and pending recovery proceedings do not, by themselves, justify Look Out Circulars. Without criminal cases or proof of higher economic harm, restricting travel ...

The RBI has issued comprehensive directions governing how UCBs can undertake financial services beyond core banking. The framework tightens governance, eligibility, and risk controls across ...

The case examined whether assessments under Section 153C were valid without proper recording of statutory satisfaction. The Court remanded the matter, holding that jurisdiction must be decided before ...

The ITAT held that additions based on incorrect and unreconciled bank data cannot be sustained. The assessment was remanded for fresh verification of actual cash deposits and ...

The ITAT held that reassessment based on a duplicate PAN, despite disclosure under a valid PAN, suffers from jurisdictional infirmity. Ex parte orders passed without addressing such objections violate ...