Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The statement of facts is critical in GST litigation, serving as the foundational element of every GST appeal and emphasizing accurate documentation.
The ITAT Delhi ruled that negative cash balances do not automatically establish undisclosed income and upheld addition only to the peak negative balance.
The Kerala High Court stayed the adjustment of income tax refunds, directing that pending rectification applications be resolved before any recovery actions.
The Madras High Court ordered that a draft assessment ignoring a filed return be set aside for fresh consideration, emphasizing the need for proper assessment processes.
The Punjab & Haryana High Court upheld Section 153C notices, confirming that the satisfaction note was not belated and limitations objections must first be raised before the AO.
The ITAT Pune held that the option exercised under Section 115BAC continues for subsequent years unless withdrawn or invalid under the Act, allowing for the new tax regime for AY 2023-24.
The ITAT Agra held that Section 44AD could not apply where turnover exceeded the limit, adopting past profit history instead, allowing telescoping and deleting Section 43B addition.
The ITAT Delhi ruled that Section 68 does not apply to sale proceeds of disclosed investments already recorded in the books. The Revenue's appeals were dismissed, setting a precedent on the interpretation of disclosed investments.
The article provides a comprehensive checklist for ITR-2 filing for AY 2026-27, focusing on capital gains and foreign assets. Taxpayers can download a PDF to prepare necessary documents in advance.
This week's roundup covers recent decisions from the Income Tax Appellate Tribunal (ITAT) including various significant rulings that impact tax assessment procedures.
The ITAT has remanded a case regarding bad debt provisions back to the Assessing Officer for verification of rural branch advances, emphasizing the necessity for accurate data assessment in tax deductions.
The CBDT has authorized jurisdictional PCIT or CIT to review and approve delayed Form 10AB applications for Section 80G approval renewal until December 31, 2026.