The Tribunal confirmed deletion of additions where the AO made no effort to verify consignees, transporters, or stock movement. Proper documentation and bank-received sale proceeds proved transaction ...

The agreement removes or reduces duties on most traded goods. It significantly improves export competitiveness and bilateral market ...

The Tribunal examined suspicion surrounding a large cash advance for property. It ruled that suspicion alone cannot replace evidence, and once the transaction is substantiated, section 68 addition ...

Spectro Analytical Labs Private Limited Vs AU Income Tax Department (ITAT Delhi) Final Assessment Ignoring DRP Directions Held Void; No Post-Limitation Cure ...

Courts have held that the two-year limit under Section 54 is not mandatory in all cases. Where the refund claim is genuine, bonafide, and causes no revenue loss, procedural delay cannot defeat ...

The authority held that an advance ruling cannot be issued when the same classification issue is already pending before customs officers. Since a show cause notice had been issued earlier, the ...

The Tribunal held that no profiteering arose where the ITC-to-cost ratio declined after GST. The key takeaway is that absence of GST-led savings defeats section 171 ...

It was ruled that the date of recording the satisfaction note is the deemed search date for a non-searched person. The ten-year limitation must be counted from this date, not from the original ...

The Tribunal held that reassessment initiated after three years without approval from the statutorily specified higher authority is invalid. Improper sanction under Section 151 vitiates the entire ...

This piece analyses why a proposed alternative to existing global institutions has faced resistance. It highlights that unilateral ambitions and past geopolitical actions undermine confidence in peace ...

Clarifies that constitutional court judgments declare the law retrospectively by default. Holds that tax authorities cannot treat such rulings as merely ...

The note highlights gaps in existing tax provisions affecting families, seniors, and small investors. It suggests targeted reforms to make tax outcomes more balanced and ...