The prima facie satisfaction u/s 148 cannot be stretched to a non-existing information or incorrect information – ITAT In a Recent judgment, ITAT Hyderabad has held that the prima facie information considered by the AO for issue of notice u/s 148 cannot be stretched to a non-existing information …

Mutual Funds to value physical Gold and Silver by using the polled spot prices published by the recognized stock exchanges SEBI has issued Circular on the valuation of physic al Gold and Silver held by mutual fund scheme As per the extant regulatory framework, physical Gold and Silver …

Supreme Court allows simultaneous CIRP proceedings against principal debtor and its corporate guarantor, declines to frame any guidelines In a recent judgment, the Hon’ble Supreme Court allowed appeals against order of Adjudicating Authorities (NCLT/NCLAT) holding that simultaneous proceedings for Corporate Insolvency Resolution Process under IBC against the principal …

Merely because assessee had declared sales for only one month, the same cannot be treated as bogus on the basis of suspicion. In a recent judgment, ITAT Agra has held that merely because the assessee had declared sales for only one month during the year, the same cannot …

ITAT deleted addition as the method of accounting had been accepted by the department in earlier years and the entire exercise was revenue neutral In a recent judgment, ITAT Delhi deleted addition made as the method of accounting had been accepted by the department in earlier years and …

Orders passed under Benami Act cannot be challenged under Insolvency and Bankruptcy Code, 2016 – SC In a recent judgment, Hon’ble Supreme Court has held that orders passed under Benami Act cannot be questioned before authorities under the Insolvency and Bankruptcy Code, 2016 ABCAUS Case Law Citation:5054 (2026) …