AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The ITAT ruled that the Revenue was unable to prove the taxpayer's ownership of the property, resulting in the deletion of capital gain additions. This decision highlights the burden of proof on the tax authorities.
The Reserve Bank of India has announced an auction of state government securities amounting to ₹13,600 Crore. The details of the offerings and their terms are crucial for potential investors.
ITAT quashes a Section 263 revision order, reinforcing that adequate inquiries by the AO cannot be overruled based on mere preferences for additional verification.
The Pune ITAT dismissed a ₹10 lakh addition, ruling that unsubstantiated cash payment claims cannot outweigh documented banking transactions.
An overview of the abolition of angel tax for certain taxpayers and ongoing scrutiny under Section 56(2)(viib) for the assessment year 2026-27.
A comprehensive guide for NRIs on compliance surrounding Indian income tax, detailing taxable income and obligations related to ITR filing.
This article examines whether a tax audit is mandatory under Section 58(3) of the Income-tax Act when profits fall below 6%, emphasizing the need for legislative clarification.
The ITAT has ruled that a Chartered Accountant (CA) acting as a conduit for client tax payments cannot be taxed on funds deposited through their bank account as unexplained income.
The Income Tax Appellate Tribunal (ITAT) has ruled that a return filed in response to a Section 148 notice still necessitates a subsequent notice under Section 143(2) before reassessment can occur.
The Calcutta High Court differentiates between tax evasion and extortion claims while granting anticipatory bail to a former MLA. The court evaluated the gravity of the accusations against the accused’s personal circumstances.
The CESTAT ruled that Customs must pay interest on delayed refunds of Extra Duty Deposit, emphasizing that delays attract statutory interest regardless of litigation.
The CESTAT determined penalties on an importer were inappropriate because all relevant documents were submitted, including a certificate from an authorized agency. The Tribunal attributed any assessment failures to customs authorities.
The article provides guidelines for Chartered Accountants (CAs) on essential GST compliance checks necessary before signing audit reports to ensure accurate financial disclosures and mitigate risks.