The Central Board of Direct Taxes ( CBDT ) has notified the ITR ( Income Tax Return ) Form 7 for the Assessment Year (AY) 2025-26 vide notification no. No. 46/2025 dated 9th May 2025. The Income-tax (Eighteenth Amendment) Rules, 2025 will come into effect from April 1, 2025. The form 7 shall be filed […]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) held that reassessment proceedings initiated after four years under Section 147 of the Income Tax Act, 1961, are not valid unless the Assessing Officer (AO) proves that the assessee failed to disclose all material facts necessary for the assessment. Read More: GST Portal Glitches: A […]
The Kolkata Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) set aside an excise duty demand raised solely on input-output norms without any evidence to support allegations of clandestine manufacture or clearance. Pooja Sponge Pvt. Ltd., the appellant, is engaged in the manufacture of sponge iron at its facility in Sundargarh, Odisha. […]
The Bangalore Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that a refund of excess Countervailing Duty (CVD) paid on imported goods can be granted even if the self-assessed Bills of Entry are not challenged, provided unjust enrichment is not established. Nokia India Sales Pvt. Ltd., the appellant, imported mobile phones […]
