No re-assessment proceedings beyond 3 years if the escaped income exceeds ₹50 lakh is not represented in the form of an asset

Bogus Purchase: Addition sustained at reduced rate not under Section 69C, but as a trading addition by ITAT Delhi

ITAT Jaipur Estimated Profit at 1.52% on Turnover of Rs. 7.96 Crores amid Audit Lapses and Cash Irregularities”

Non-Compliance with CBDT’s 143(2) Notice Format Renders Assessment Invalid: Kolkata ITATA

GST Registration Not a Precondition for Expense Deduction: Delhi ITAT

Relief on GST Input Tax Credit for Real Estate-Linked Services – Supreme Court Upholds Safari Retreats Ruling

Once an LLP opts for audit under Rule 24(8), the due date of filing the income tax return is 30th September: ITAT Agra

Compliance Calendar for June’2025

The benefit of lower rate of income tax of 15% under Section 115BAB allowed to Company by Kolkata ITAT

Jurisdictional Assessing Officer Vs. Faceless Assessing Officer: Telangana High Court Quashes Reassessment Notices

Legal fiction created in Section 50 is confined to the computation of capital gains and does not alter the nature of the asset or affect eligibility for exemptions under other sections

Non-Complince with CBDT’s 143(2) Notice Format Renders Assessment Invalid: Kolkata ITAT

ITAT Jaipur Estimates Profit at 1.52% on Turnover of Rs. 7.96 Crores Amid Audit Lapses and Cash Irregularities

Entire purchases cannot be disallowed; only profit embedded in unverifiable purchases can be taxed: ITAT Delhi

Controversy surrounding section 194T- TDS on Interest & Remuneration to the Partners

Multiple Floors in a Single Building Constitute One Residential House Under Section 54F

Expenditure towards salaries and wages could not be represented as ‘asset’ as per section 149(1)(b)- Reassessment proceedings beyond 3 years quashed by Delhi HC

Review Petition filed by the Revenue against the judgment in Safari Retreats dismissed by SC