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Assessing Officer’s ‘Change of Mind’ Not Valid Ground for Reopening Assessment : Madras HC [Read Order]

The Madras High Court has held that a mere ‘change of mind’ by the Assessing Officer (AO) cannot justify the reopening of a completed income tax...

Relief for Castrol India: CESTAT Rules SAD Refund Cannot Be Denied Solely Due to Brand Name Change...

Central Govt Confirms Appointment of New Chief Justices for 5 High Courts

ITAT Quashes Tax Assessments, Citing Mechanical and invalid approval under section 153D

Important Update: RBI Extends Annual Foreign Liabilities and Assets Returns Filing Deadline

ITAT Condones Significant Appeal Delay for Elderly Directors Citing Health Concerns Due to Pandemic [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has granted relief to an assessee by condoning a substantial delay in their appeal noting the health circumstances of the company's...

NCLAT Rejects Financial Creditor Claim as No Valid Guarantee Was Executed or Invoked Under IBC [Read Order]

The Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) held that the appellant failed to prove that a valid and binding corporate guarantee was executed by the corporate debtor and...

CBI Extradites Fugitive in ₹2.36 Crore 2002 Import-Export Fraud Case from USA

The Central Bureau of Investigation ( CBI ) has successfully secured the extradition of Ms. Monika Kapoor, a fugitive wanted in a major 2002 import-export fraud case, from the United States. ...

DGFT Calls for Stakeholder Comments on Draft Internal Compliance Programme for Export Controls [Read Notification]

The Directorate General of Foreign Trade ( DGFT ) has issued a Trade Notice inviting comments and feedback from stakeholders on its newly drafted Internal Compliance Programme (ICP) for export...

ITAT Rules Domain Registration and web Hosting not Royalty Income [Read Order]

The Delhi bench of Income Tax Appellate Tribunal has held that the Domain name registration services receipts and web hosting services receipts incomes are not taxable as royalty citing consistent...

40K Taxpayers Withdraw ₹1,045 Crore in Bogus ITR Deductions & Exemptions as Income Tax Department Strengthens Crackdown

The Central Board of Direct Taxes (CBDT) has doubled down on its nationwide campaign against taxpayers who had fraudulently claimed bogus exemptions and deductions in their Income Tax Returns. ...

ITAT Remands Ex Parte Tax and Penalty Appeals citing delays and denied opportunity [Read Order]

The Mumbai bench of Income tax Appellate Tribunal (ITAT) has ordered the tax related additions and penalties were sent back to CIT(A) for fresh adjudication.The matter will be reconsidered based...

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