ITAT allowed increased exemption of Rs. 25 lakhs u/s 10(10A) to non-government employees in view of CBDT retrospective notification. In a recent judgment, ITAT Lucknow allowed benefit of CBDT retrospective notification enhancing the exemption u/s 10(10A) to Rs. 25 lakhs to non-government employees also. ABCAUS Case Law Citation:5074 …

PCIT has revisionary jurisdiction u/s 263 over the cases irrespective of the fact that the relevant assessment was completed physical mode or faceless mode – ITAT In a recent judgment, ITAT Delhi has held that the PCIT has revisionary jurisdiction u/s 263 over the cases passed by the …

Appellate court interfering with Motor Accidents Claims Tribunal findings on assessment of disability and loss of earning capacity must undertake a thorough reappreciation of evidence In a recent judgment, Hon’ble Supreme Court while enhancing compensation for functional disability held that when an appellate court interferes with findings of …

When period of delay is not very huge and involve huge monetary liability on the assessee, a lenient approach should be taken In a recent judgment, High Court held that when period of delay was not very huge a lenient approach ought to have been taken as it …

Ratification by EoGM of the company can not give legality of the diversion of the fund raised by preferential issue. In a recent judgment, Hon’ble Supreme Court has held that ratification by EoGM of the company can not give legality of the diversion of the fund raised by …

CBIC prescribes procedures for return of export cargo from international waters due to closure of the Strait of Hormuz where the vessel has landed at an Indian port other than the original port of departure Return of export cargo from international waters due to closure of the Strait …