ITAT Delhi allowed travelling and visa expenses paid by assessee’s sons as wholly & exclusively for business purposes in overseas education consultancy. The Tribunal emphasized that procedural delay ...

The Tribunal held that conflicting judicial views on Section 10(38) exemption made the issue debatable. Since the assessee disclosed all facts, penalty for concealment could not survive despite later ...

ITAT held that reassessment notices issued after the surviving period, as clarified by Rajeev Bansal, are time-barred for AY 2015-16. The ruling emphasizes that procedural compliance with limitation ...

ITAT Delhi held that a single Section 153D approval for multiple assessees and years is impermissible, rendering all 153A and 153C assessments void ab ...

ITAT ruled that a Section 50C addition cannot stand without a DVO reference where market value is disputed. Matter remanded for fresh valuation and ...

The ITAT held that income appearing in Form 26AS cannot be taxed unless actually received when the assessee follows cash accounting. The ruling confirms that 26AS entries alone cannot justify ...

ITAT Delhi restored the matter to AO, allowing the assessee to submit evidence on share and agricultural status of land to correctly determine capital ...

The Supreme Court held that the corporate debtor’s alleged pre-existing dispute lacked any factual basis and reinstated NCLT’s CIRP admission. The ruling reaffirms that illusory or unsupported ...

The Court held that once the statutory deadline expires, an arbitrator becomes functus officio and cannot be granted a fresh extension. It ordered substitution under Section 29A(6), reinforcing strict ...

Court ruled that FEMA summons issued under Section 37 operate within a civil-procedural framework and are not subject to gender-based safeguards under Section 160 CrPC. The key takeaway is that a ...

The Tribunal held that Section 44AD could not be applied to a goods carriage business excluded under Section 44AE and restored the matter for fresh examination. The AO must verify conditions under ...

SC emphasized that contempt power is not a sword to silence criticism but includes the power to forgive when remorse is genuine. The High Court wrongly imposed punishment despite an unconditional ...