The Tribunal held that a notice under section 148 issued beyond three years requires sanction from PCCIT under section 151(ii). Approval from PCIT was held insufficient, leading to quashing of the ...

ITAT held that delay in filing Form 9A cannot automatically result in denial of exemption under Section 11. The issue was ...

The Tribunal ruled that Section 148A(b) requires a minimum of seven days for the assessee to respond. Failure to grant this statutory period renders the notice and subsequent reassessment proceedings ...

GSTAT directed the DGAP to re-examine the profiteering computation after questions were raised about ignored cost increases, ...

CDSCO approval is required before drugs, medical devices, and related products can be manufactured or sold in India. The ...

The MCA amended AS 22 to incorporate provisions related to OECD Pillar Two global minimum tax rules. The amendment exempts ...

ITAT Chennai rules 60% tax under Section 115BBE not applicable to AY 2017-18 transactions before 01-04-2017; directs tax on ₹30.43 lakh addition at ...

The Competition Commission of India held that allegations of airlines jointly fixing cancellation charges were unsupported by evidence of any agreement or concerted action. As a result, no violation ...

Income Tax: The Tribunal examined a case where the assessee failed to substantiate purchases and sundry creditors with supporting documents. I ...

The Tribunal examined a case where the assessee failed to substantiate purchases and sundry creditors with supporting documents. It upheld estimation of income at 8% of turnover as a reasonable method ...

The Tribunal held that when the difference between purchase price and DVO valuation falls within the 10% tolerance band, no addition can be made under section 56(2)(vii). The addition based on stamp ...

The Tribunal examined a case where the assessee failed to substantiate purchases and sundry creditors with supporting documents. It upheld estimation of income at 8% of turnover a ...