![Reversal of Interest u/s 23 of MSMED Act Cannot Attract Addition In Absence of Deduction Claim: ITAT Directs AO to Verify [Read Order]](https://images.taxscan.in/h-upload/2026/01/12/500x300_2118411-reversal-interest-msmed-act-addition-deduction-claim-itat-ao-taxscan.webp "Reversal of Interest u/s 23 of MSMED Act Cannot Attract Addition In Absence of Deduction Claim: ITAT Directs AO to Verify [Read Order]")
Reversal of Interest u/s 23 of MSMED Act Cannot Attract Addition In Absence of Deduction Claim: ITAT Directs AO to Verify [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that the reversal of interest provided under Section 23 of the Micro, Small and...
![Export Confiscation Order of Rs. 34 Cr set aside on Procedural Grounds: CESTAT Emphasizes Mandatory Nature of Section 138B in Customs Proceedings [Read Order]](https://images.taxscan.in/h-upload/2026/01/12/250x150_2118399-export-confiscation-order-procedural-grounds-cestat-emphasizes-section-138b-customs-proceedings-taxscan.webp "Export Confiscation Order of Rs. 34 Cr set aside on Procedural Grounds: CESTAT Emphasizes Mandatory Nature of Section 138B in Customs Proceedings [Read Order]")
![TOLA cannot Revive Reassessment Bar After 6 Years: ITAT Sets Aside ₹1.09 Cr Demand [Read Order]](https://images.taxscan.in/h-upload/2026/01/12/250x150_2118405-tola-cannot-revive-reassessment-bar-taxscan.webp "TOLA cannot Revive Reassessment Bar After 6 Years: ITAT Sets Aside ₹1.09 Cr Demand [Read Order]")
![Mistaken Self-Disallowance u/S.36 in Income tax Return Can Be Rectified: ITAT Orders Fresh Review [Read Order]](https://images.taxscan.in/h-upload/2026/01/12/250x150_2118414-mistaken-self-disallowance-income-tax-return-rectified-taxscan.webp "Mistaken Self-Disallowance u/S.36 in Income tax Return Can Be Rectified: ITAT Orders Fresh Review [Read Order]")
![Purchases Disallowed Merely Because Suppliers Failed to File ITR: ITAT Rejects Disallowance [Read Order]](https://images.taxscan.in/h-upload/2026/01/12/250x150_2118406-itat-mumbai-disallowance-purchase-disallowance-itat-on-purchase-disallowance-disallowance-under-income-tax-act-itat-rejects-disallowance-of-purchases-income-tax-appellate-tribunal-ruling-taxscan.webp "Purchases Disallowed Merely Because Suppliers Failed to File ITR: ITAT Rejects Disallowance [Read Order]")
Failure to Hold Minimum Four Board Meetings as per S 173(1): MCA Imposes Penalty on Company and its Directors [Read Order]
The Ministry of Corporate Affairs (MCA) has imposed a penalty of Rs 10,000 each on the company and its directors for failing to conduct a minimum of four meetings as required under Section 173(1)...
![Failure to Hold Minimum Four Board Meetings as per S 173(1): MCA Imposes Penalty on Company and its Directors [Read Order]](https://images.taxscan.in/h-upload/2026/01/10/500x300_2118192-failure-hold-minimum-four-board-meetings-per-s-1731-mca-imposes-penalty-company-and-its-directors-taxscan.webp "Failure to Hold Minimum Four Board Meetings as per S 173(1): MCA Imposes Penalty on Company and its Directors [Read Order]")
Object Clause Allowing Overseas Fund Use Rectifiable: ITAT Remands Rotary Club's Registration for Fresh Review [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) remanded a Rotary Club Trust’s registration under Section 12AB and approval under Section 80G for fresh adjudication, holding that if there...
![Object Clause Allowing Overseas Fund Use Rectifiable: ITAT Remands Rotary Clubs Registration for Fresh Review [Read Order]](https://images.taxscan.in/h-upload/2026/01/10/500x300_2118191-object-clause-allowing-overseas-fund-use-rectifiable-itat.webp "Object Clause Allowing Overseas Fund Use Rectifiable: ITAT Remands Rotary Clubs Registration for Fresh Review [Read Order]")
Non-disclosure of Secured Creditors in Capital Reduction Petition: NCLT Imposes 5 lakh Penalty on Lifestyle [Read Order]
The National Company Law Tribunal (NCLT), Bangalore bench has slapped a penalty of Rs 5,00,000 on Lifestyle International Private Ltd for the non-disclosure of secured creditors in a capital ...
![Non-disclosure of Secured Creditors in Capital Reduction Petition: NCLT Imposes 5 lakh Penalty on Lifestyle [Read Order]](https://images.taxscan.in/h-upload/2026/01/10/500x300_2118161-site-image-o4.webp "Non-disclosure of Secured Creditors in Capital Reduction Petition: NCLT Imposes 5 lakh Penalty on Lifestyle [Read Order]")
No Exclusion of Limitation Period u/s 14 for Bills Not Prosecuted in Refund Proceedings: CESTAT Dismisses Appeal as Time-Barred [Read Order]
The Principal Bench of Customs, Excise & Service Tax Appellate Tribunal (CESTAT) at New Delhi held that Section 14 of the Limitation Act cannot be invoked where earlier proceedings did not...
![No Exclusion of Limitation Period u/s 14 for Bills Not Prosecuted in Refund Proceedings: CESTAT Dismisses Appeal as Time-Barred [Read Order]](https://images.taxscan.in/h-upload/2026/01/10/500x300_2118164-no-exclusion-limitation-period-bills-not-procecuted-refund-proceedings-cestat-dismisses-appeal-time-barred-taxscan.webp "No Exclusion of Limitation Period u/s 14 for Bills Not Prosecuted in Refund Proceedings: CESTAT Dismisses Appeal as Time-Barred [Read Order]")
CESTAT Upholds Rs 19.5 Lakh Customs Penalty: Viscose Fabric Declared but Polyester Imported, Supplier Error Claim Rejected [Read Order]
The Principal Bench of Customs, Excise & Service Tax Appellate Tribunal (CESTAT) at New Delhi, upheld a ₹19.53 lakh penalty for mis-declaration of imported fabric. The goods declared as...
![CESTAT Upholds Rs 19.5 Lakh Customs Penalty: Viscose Fabric Declared but Polyester Imported, Supplier Error Claim Rejected [Read Order]](https://images.taxscan.in/h-upload/2026/01/10/500x300_2118165-cestat-upholds-rs-195-lakh-customs-penalty-viscose-fabric-declared-polyester-imported-supplier-error-claim-rejected-taxscan.webp "CESTAT Upholds Rs 19.5 Lakh Customs Penalty: Viscose Fabric Declared but Polyester Imported, Supplier Error Claim Rejected [Read Order]")
Income Tax Reassessment Passed in Violation of Calcutta HC Stay: SC dismisses SLP refusing to Condone 730-day Delay [Read Judgement]
In a recent ruling, the Supreme Court rejected the Income Tax Department’s plea for condonation of a 730-day delay in filing a Special Leave Petition against a Calcutta High Court judgment that had...
![Income Tax Reassessment Passed in Violation of Calcutta HC Stay: SC dismisses SLP refusing to Condone 730-day Delay [Read Judgement]](https://images.taxscan.in/h-upload/2026/01/11/500x300_2118353-income-tax-reassessment-calcutta-hc-sc-slp-taxscan.webp "Income Tax Reassessment Passed in Violation of Calcutta HC Stay: SC dismisses SLP refusing to Condone 730-day Delay [Read Judgement]")
