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) …