![PNB Seeks Insolvency Resolution Against Rice Mills Over ₹74.35 Crore Outstanding Debt: NCLT Considers Section 7 Plea [Read Order]](https://images.taxscan.in/h-upload/2025/12/31/500x300_2116289-pnb-seeks-insolvency-resolution-against-rice-mills-taxscan.jfif "PNB Seeks Insolvency Resolution Against Rice Mills Over ₹74.35 Crore Outstanding Debt: NCLT Considers Section 7 Plea [Read Order]")
PNB Seeks Insolvency Resolution Against Rice Mills Over ₹74.35 Crore Outstanding Debt: NCLT Considers Section 7 Plea [Read Order]
The Allahabad Bench of National Company Law Tribunal (NCLT) moved Punjab National Bank (PNB) to initiate CIRP Proceedings under section 7 against...
![Accident Surcharge Not Insurance Service: CESTAT Sets aside Rs 2.2 Crore Service Tax Demand on Rajasthan SRTC [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/250x150_2116412-accident-surcharge-not-insurance-service-taxscan.webp "Accident Surcharge Not Insurance Service: CESTAT Sets aside Rs 2.2 Crore Service Tax Demand on Rajasthan SRTC [Read Order]")
![Unauthenticated Excel Sheets and Emails Sent by Lenders deemed Dumb Documents for interest Addition: ITAT quashes order [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/250x150_2116429-unauthenticated-excel-sheets-emails-sent-lenders-deemed-dumb-documents-interest-addition-itat-quashes-order-taxscan.webp "Unauthenticated Excel Sheets and Emails Sent by Lenders deemed Dumb Documents for interest Addition: ITAT quashes order [Read Order]")
![Assessment quashed without granting Liberty of Reopening to AO: ITAT rectifies order as per SC Judgement [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/250x150_2116402-assessment-quashed-without-granting-liberty-reopening-ao-itat-rectifies-order-sc-judgement-taxscan.webp "Assessment quashed without granting Liberty of Reopening to AO: ITAT rectifies order as per SC Judgement [Read Order]")
![Third-Party Statements and Documents Insufficient for S. 153A Jurisdiction: ITAT Quashes Assessments for Multiple Unabated Years [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/250x150_2116406-third-party-statements-and-documents-insufficient-for-s-153a-jurisdiction-itat-quashes-assessments-for-multiple-unabated-years-taxscan.webp "Third-Party Statements and Documents Insufficient for S. 153A Jurisdiction: ITAT Quashes Assessments for Multiple Unabated Years [Read Order]")
Alleged Cash Receipts deleted in Hands of Lenders like UK Paints: ITAT upholds deletion of unaccounted interest expenditure [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) held that where the alleged recipients of cash interest have been judicially cleared of receiving such payments, the corresponding...
![Alleged Cash Receipts deleted in Hands of Lenders like UK Paints: ITAT upholds deletion of unaccounted interest expenditure [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/500x300_2116416-cash-receipts-itat-taxscan.jfif "Alleged Cash Receipts deleted in Hands of Lenders like UK Paints: ITAT upholds deletion of unaccounted interest expenditure [Read Order]")
Consolidated Approval u/s 153D for Multiple Taxpayers and Years in a Mechanical Manner: ITAT Invalidates Search Assessment [Read Order]
The Guwahati Bench of the Income Tax AppellateTribunal (ITAT) quashed search assessments and held that providing consolidated approval for multiple taxpayers and years in a mechanical manner is...
![Consolidated Approval u/s 153D for Multiple Taxpayers and Years in a Mechanical Manner: ITAT Invalidates Search Assessment [Read Order]](https://images.taxscan.in/h-upload/2025/12/31/500x300_2116272-consolidated-approval-us-153d-for-multiple-taxpayers-and-years-in-a-mechanical-manner-itat-invalidates-search-assessment-taxscan.webp "Consolidated Approval u/s 153D for Multiple Taxpayers and Years in a Mechanical Manner: ITAT Invalidates Search Assessment [Read Order]")
EOU Licence from DoC Not Equivalent to DPIIT Licence for Defence Tenders: Delhi HC dismisses Bidder’s Challenge [Read Order]
The Delhi High Court, recently has dismissed a batch of writ petitions filed by bidders confirming that EOU ( Export oriented Unit) Licence from DoC ( Department of Commerce ) not equivalent to...
![EOU Licence from DoC Not Equivalent to DPIIT Licence for Defence Tenders: Delhi HC dismisses Bidder’s Challenge [Read Order]](https://images.taxscan.in/h-upload/2025/12/31/500x300_2116283-eou-licence-doc-equivalent-dpiit-licence-defence-tenders-delhi-hc-dismisses-bidder-challenge-taxscan.webp "EOU Licence from DoC Not Equivalent to DPIIT Licence for Defence Tenders: Delhi HC dismisses Bidder’s Challenge [Read Order]")
Post-Decisional Hearing Cannot Cure Lack of Proper Hearing: Calcutta HC Quashes GST Registration Cancellation by Different Authority [Read Order]
The Calcutta High Court, rejecting the suggestion of the GST ( Goods and Services Tax ) department to provide Post-decisional hearing, said that the same could not be directed by the court and it is...
![Post-Decisional Hearing Cannot Cure Lack of Proper Hearing: Calcutta HC Quashes GST Registration Cancellation by Different Authority [Read Order]](https://images.taxscan.in/h-upload/2025/12/31/500x300_2116298-post-decisional-hearing-cure-lack-proper-hearing-calcutta-hc-quashes-gst-taxscan.webp "Post-Decisional Hearing Cannot Cure Lack of Proper Hearing: Calcutta HC Quashes GST Registration Cancellation by Different Authority [Read Order]")
MCA Amends Rules on Striking Off Companies: New Indemnity Bond Requirement for Government Companies [Read Notification]
On 31st December 2025, the Ministry of Corporate Affairs (MCA) pursuant to the powers granted under Section 248 and Section 469 of the Companies Act, 2013 enacted a procedural amendment to the...
![MCA Amends Rules on Striking Off Companies: New Indemnity Bond Requirement for Government Companies [Read Notification]](https://images.taxscan.in/h-upload/2025/12/31/500x300_2116299-mca-mca-striking-off-rules-mca-amendment-mca-amends-striking-off-rules-taxscan.webp "MCA Amends Rules on Striking Off Companies: New Indemnity Bond Requirement for Government Companies [Read Notification]")
Form 10BB Requirement is Directory, Not Mandatory: ITAT Holds Late Filing Cannot Deny S. 11 Exemption [Read Order]
The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) has held that delay in filing the audit report in Form 10BB cannot be used as a ground to deny exemption under Section 11 of the Income...
![Form 10BB Requirement is Directory, Not Mandatory: ITAT Holds Late Filing Cannot Deny S. 11 Exemption [Read Order]](https://images.taxscan.in/h-upload/2025/12/31/500x300_2116276-itat-jaipur-form-10bb-itat-form-10bb-10bb-late-filing-itat-10bb-judgement-form-10bb-directory-not-mandatory-taxscan.webp "Form 10BB Requirement is Directory, Not Mandatory: ITAT Holds Late Filing Cannot Deny S. 11 Exemption [Read Order]")
Third-Party Ledger Entry Insufficient Basis for Tax Addition: ITAT Deletes ₹5.5 Lakh Addition under section 69A [Read Order]
The New Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) held that third-party seized ledger entries alone cannot justify additions under Section 69A without proof of the assessee’s possession...
![Third-Party Ledger Entry Insufficient Basis for Tax Addition: ITAT Deletes ₹5.5 Lakh Addition under section 69A [Read Order]](https://images.taxscan.in/h-upload/2025/12/31/500x300_2116294-income-tax-addition-taxscan-.jfif "Third-Party Ledger Entry Insufficient Basis for Tax Addition: ITAT Deletes ₹5.5 Lakh Addition under section 69A [Read Order]")