![Reassessment Based on Audit Objection without AO’s application of mind is Invalid: Supreme Court Decides in favour of Adani Power [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/500x300_2117585-reassessment-based-audit-objection-without-aos-application-mind-is-invalid-supreme-court-decides-favour-adani-power-taxscan.webp "Reassessment Based on Audit Objection without AO’s application of mind is Invalid: Supreme Court Decides in favour of Adani Power [Read Order]")
Reassessment Based on Audit Objection without AO’s application of mind is Invalid: Supreme Court Decides in favour of Adani Power [Read Order]
The Supreme court, in the matter of Adani Power Rajasthan has confirmed the principle that any income tax reassessment initiated based on Audit...
![No Addition Permissible in Unabated AY Without Incriminating Material Found During Search: ITAT Deletes Rs. 7.25 Crore Addition [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/250x150_2117591-itat-deletes-rs-725-crore-addition-taxscan.jfif "No Addition Permissible in Unabated AY Without Incriminating Material Found During Search: ITAT Deletes Rs. 7.25 Crore Addition [Read Order]")
![Security Cheque Defence Rejected: Himachal Pradesh HC upholds Conviction u/s 138 NI Act but Reduces Jail Term to 6 Months [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/250x150_2117536-security-cheque-security-cheque-defence-himachal-pradesh-high-court-security-cheque-defence-rejected-himachal-pradesh-high-court-judgment-cheque-bounce-conviction-taxscan.webp "Security Cheque Defence Rejected: Himachal Pradesh HC upholds Conviction u/s 138 NI Act but Reduces Jail Term to 6 Months [Read Order]")
![Supreme Court Grants Bail to Amtek Group Promoter in alleged ₹673 Crore Bank Fraud Case under PMLA [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/250x150_2117589-bank-fraud-case-taxscan.webp "Supreme Court Grants Bail to Amtek Group Promoter in alleged ₹673 Crore Bank Fraud Case under PMLA [Read Order]")
![GST Personal Hearing Fixed before Reply Date is Putting ‘Cart Before Horse’: Uttarakhand HC sets aside Order against Ad Agency [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/250x150_2117595-gst-personal-hearing-fixed-reply-date-cart-horse-uttarakhand-hc-order-ad-agency-taxscan.webp "GST Personal Hearing Fixed before Reply Date is Putting ‘Cart Before Horse’: Uttarakhand HC sets aside Order against Ad Agency [Read Order]")
Magistrate Cannot Take Cognizance of Time-Barred Cheque Dishonour Complaint Without Condoning Delay First: Supreme Court [Read Order]
In a recent decision, the Supreme Court said that a magistrate can't take notice of a cheque bounce case if it's filed late without condoning the delay first. The case was brought by S. Nagesh,...
![Magistrate Cannot Take Cognizance of Time-Barred Cheque Dishonour Complaint Without Condoning Delay First: Supreme Court [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/500x300_2117587-magistrate-cannot-take-cognizance-of-time-barred-cheque-dishonour-complaint-without-condoning-delay-first-supreme-court-taxscan.webp "Magistrate Cannot Take Cognizance of Time-Barred Cheque Dishonour Complaint Without Condoning Delay First: Supreme Court [Read Order]")
Denial of GST Appeal would Cost Taxpayer an Important Forum: Calcutta HC allows Appeal Subject to Conditions [Read Order]
The Calcutta High Court allowed the GST ( Goods and Services Tax )appeal stating that denying the same would cost the taxpayer an important forum. However, it directed to pay Rs.20,000/- to the State...
![Denial of GST Appeal would Cost Taxpayer an Important Forum: Calcutta HC allows Appeal Subject to Conditions [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/500x300_2117553-denial-gst-appeal-would-cost-taxpayer-important-forum-calcutta-hc-allows-appeal-subject-conditions-taxscan.webp "Denial of GST Appeal would Cost Taxpayer an Important Forum: Calcutta HC allows Appeal Subject to Conditions [Read Order]")
Supreme Court dismisses Revenue’s Plea on Income Tax Addition from Sale of Penny Stock Shares for 154-Day Delay [Read Order]
The Supreme Court of India recently dismissed a Special Leave Petition (SLP) instituted by the Principal Commissioner of Income Tax, noting that the case which pertained to additions on the basis of...
![Supreme Court dismisses Revenue’s Plea on Income Tax Addition from Sale of Penny Stock Shares for 154-Day Delay [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/500x300_2117584-supreme-court-dismisses-revenues-plea-income-tax-addition.webp "Supreme Court dismisses Revenue’s Plea on Income Tax Addition from Sale of Penny Stock Shares for 154-Day Delay [Read Order]")
VAT Appeal Delay: Supreme Court Condones Walmart’s Delay in Filing SLP, Issues Notice to Commercial Tax Dept [Read Order]
The Supreme Court has condoned the delay of Walmart India Private limited in filing the Special leave Petition ( SLP ) with regards to the VAT ( Value Added Tax )appeal delay. The court has issued...
![VAT Appeal Delay: Supreme Court Condones Walmart’s Delay in Filing SLP, Issues Notice to Commercial Tax Dept [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/500x300_2117592-vat-appeal-delay-supreme-court-condones-walmarts-delay-filing-slp-issues-notice-commercial-tax-dept-taxscan.webp "VAT Appeal Delay: Supreme Court Condones Walmart’s Delay in Filing SLP, Issues Notice to Commercial Tax Dept [Read Order]")
Delay of 304 Days in Filing INC‑20A: MCA Imposes Penalty of ₹50k on Company and ₹1 Lakh on Director [Read Order]
The Ministry of Corporate Affairs (MCA) has imposed a penalty of Rs 50,000 on a company and Rs 1 lakh on the director for a delay of 304 days in filing INC-20A as per Section 10A of the Companies...
![Delay of 304 Days in Filing INC‑20A: MCA Imposes Penalty of ₹50k on Company and ₹1 Lakh on Director [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/500x300_2117535-delay-of-304-days-in-filing-inc-taxscan.webp "Delay of 304 Days in Filing INC‑20A: MCA Imposes Penalty of ₹50k on Company and ₹1 Lakh on Director [Read Order]")
Wrong Selection of ITR 7 instead of ITR 5 is Mere Procedural Error: ITAT remits matter to Reassess Income as per ITR 5 [Read Order]
TheDelhi Bench of the Income Tax AppellateTribunal (ITAT)has held that the mere filing of an income tax return in an incorrect form cannot be a ground to disallow genuine expenditure. The Bench also...
![Wrong Selection of ITR 7 instead of ITR 5 is Mere Procedural Error: ITAT remits matter to Reassess Income as per ITR 5 [Read Order]](https://images.taxscan.in/h-upload/2026/01/07/500x300_2117487-wrong-selection-of-itr-7-instead-of-itr-5-is-mere-procedural-error-itat-remits-matter-to-reassess-income-as-per-itr-5-taxscan.webp "Wrong Selection of ITR 7 instead of ITR 5 is Mere Procedural Error: ITAT remits matter to Reassess Income as per ITR 5 [Read Order]")