If you’ve ever wondered whether Bitcoin deserves a place alongside your stocks, bonds and cash, you’re in good company. Over ...

This case explains why related party transactions require heightened audit scrutiny under SA-550. The key takeaway is that influence and control, not just legal structure, determine audit risk and ...

The issue addressed was the need for a consolidated regulatory framework for UCB credit operations. The key takeaway is that RBI has standardised credit norms to ensure stability, depositor protection ...

The tribunal ruled that buying property through a court-supervised auction does not shield a transaction from benami law.

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

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 the appellate authority mechanically affirmed reassessment additions without independent examination of merits. The matter was remanded to grant the assessee a fair and effective ...

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 ...

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 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 ...