Author: administrator
Jurisdiction of ITAT is determined not by the place of business or residence of assessee but by the location of the AO – ITAT In a recent judgment, Agra ITAT has dismissed the appeal of the assessee observing that the ordinary jurisdiction of the Bench will be determined …
Notice u/s 148 set-aside and remitted back since the assessee’s e-mail was inactive leading to all notices go un-noticed In a recent judgment, Karnataka High Court has set-aside notice u/s 148 and order passed u/s 147 since the assessee’s e-mail was inactive and therefore all notices went un-noticed …
AO after dropping an issue in assessment u/s 143(3) for lack of evidence is competent to re-open such issue upon gathering necessary information – Calcutta High Court In a recent judgment, Hon’ble Calcutta High Court has held that the jurisdictional assessing officer after having dropped an issue on …
Merely because jewellery is converted into solid gold / gold biscuits, it cannot be presumed to be unexplained or in excess of permissible limit – ITAT In a recent judgment, ITAT Ranchi has held that merely because the jewellery has been converted into solid gold / gold biscuits, …
Assessee cannot be given a second innings to make good its case – ITAT declines to remand the case second time In a recent judgment, ITAT Panji has held that a luxury litigant assessee cannot be given a second innings to make good its case and declined to …
When cash deposits represent business receipts, income to be estimated by applying a reasonable profit rate. In a recent judgment, ITAT Ranchi has held that when cash deposits represent business receipts, it would be appropriate to estimate income by applying a reasonable profit rate. ABCAUS Case Law Citation:4955 …
Every resolution plan to include a statement of beneficial-ownership of all natural persons who ultimately owns or controls the resolution applicant Insolvency and Bankruptcy Board of India Notification New Delhi, the 22nd December, 2025 Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Seventh Amendment) …
Change in the address of Debts Recovery Appellate Tribunal, Allahabad with effect from 11.12.2025 Ministry of Finance(Department of Financial Service) Notification New Delhi, the 18th December, 2025 S.O. 5956E.—In exercise of the powers conferred by Section 3 of the Recovery of Debts and Bankruptcy Act, 1993 (51 of …
Updated list of banks authorised by Reserve Bank of India to import only gold for FY 2025-26 with effect from 01,04.2025 and valid upto 31,03.2026 Amendment in Appendix 4B of Handbook of Procedures 2023 In exercise of the powers conferred under paragraphs I .03 &2.04 of the Foreign …
Under percentage completion method, selling/Admin costs are allowable despite no revenue declared as per guidance note of ICAI. In a recent judgment, ITAT Delhi has held that under percentage completion method, selling costs like advertisement, business promotion and commission expenses are allowable despite that assessee had not declared …
