Month: May 2026

Merely because share prices doubled, it may not have given rise to any doubt to disbelieve the transaction – High Court In a recent judgment, Hon’ble High Court held that merely because the share prices have more than doubled that too over a long period of two years, …

It is the bounden duty of income tax authority to comply with the decision of the Supreme Court – High Court In a recent judgment, Hon’ble High Court while deleting penalty u/s 271D held that it is the bounden duty of income tax authority to comply with the …

ITAT allows withdrawal of appeal against rejection of registration u/s 12AB as assessee had been availing benefit of blanket exemption u/s 10(23C)(iiiad) In a recent judgment, ITAT Jodhpur allowed withdrawal of appeal against rejection of applications filed for registration u/s 12AB as assessee had been availing benefit of …

When explanation for delay does not smack of mala fide, right of hearing of appeal on merit ought not to be rejected – ITAT In a recent judgment, ITAT Delhi has held that when the explanation for delay does not smack of mala fide or it is not …