Tax Guru

Karnataka HC Remands JAO Reassessment Cases in View of Supreme Court’s Section 147A Ruling; Assessees Permitted to Challenge Retrospective Amendment

Karnataka HC remanded reassessment proceedings, allowed challenge to Section 147A, and followed the Supreme Court's directions on retrospective ...
Tax Guru

Karnataka HC: Search Additions Cannot Rest on Statements Alone; Corroborative Evidence Essential for Suppression of Sales and Section 69A Additions

Karnataka HC rejected Revenue's appeals, holding statements alone could not sustain suppression of sales or Section 69A additions without corroborative ...
Tax Guru

Karnataka HC Reaffirms Engineering Analysis: Ancillary Software Services Not Taxable as FTS or Royalty

Karnataka HC dismissed Revenue's appeal, following Engineering Analysis and holding no substantial question of law arose on ancillary software ...
Tax Guru

NFAC Reassessment Before Section 151A Notification Quashed: ITAT Kolkata

ITAT Kolkata quashed NFAC reassessment and consequential penalty, holding faceless reassessment lacked jurisdiction before ...
Tax Guru

GST Assessment Order Set Aside for Absence of Officer’s Signature: AP HC

Andhra Pradesh HC set aside an unsigned GST assessment order, holding that absence of the assessing officer’s signature ...
Tax Guru

SEBI Amends LODR Regulations on Securities Transfer & Transmission

SEBI's Second Amendment Regulations, 2026 revise Regulations 40(7) and 61(4), omit Schedule VII Clause C, and take effect on Gazette ...
Tax Guru

E-Way Bill Detention & Confiscation Under GST: Latest Changes

Explains GST e-way bill provisions, CBIC Circular 64, judicial trends, latest system changes, compliance measures and detention ...
Tax Guru

Section 148A Order Quashed for Ignoring Assessee’s Reply: Calcutta HC

The Calcutta High Court considered a writ petition challenging the order dated 30.06.2025 passed under Section 148A(3) of the Income-tax Act, 1961, and the consequential notice dated 30.06.2025 issued ...
Tax Guru

Section 69A Addition Reduced from ₹2.26 Crore to ₹5 Lakh as Cash Deposits Explained: ITAT Delhi

ITAT Delhi reduced the Section 69A addition to ₹5 lakh, holding the cash deposits were substantially supported by withdrawals and available ...
Tax Guru

IRDAI Clarifies Ind AS Implementation, Validation & Actuarial Requirements

IRDAI clarifies the Appointed Actuary's role, Independent Validation, Ind AS consolidation and FAQs on implementation under ...
Tax Guru

Customs Penalty Upheld for Undervalued Embroidery Thread Imports: CESTAT Mumbai

CESTAT Mumbai upheld customs duty demand and penalties after finding undervaluation proved through supplementary invoices and the director’s voluntary ...
Tax Guru

Allotment Letter Not Agreement for Sale Under Section 56(2)(x): ITAT Mumbai

ITAT Mumbai held an allotment letter is not an agreement for sale under Section 56(2)(x) but restricted the addition to the ...