Judgement

ITAT accepts TNMM for royalty, remands commission benchmarking, and grants relief on Section 54G claim.

ITAT Deletes TP Royalty Adjustment, Orders Fresh Review of Commission Benchmarking

HC quashed the reassessment notice, ruling that reopening an assessment without fresh tangible material amounts to an impermissible change of opinion.

HC Rules Income Tax Reopening Illegal Without Fresh Tangible Material and Based on Mere Opinion Change

News

EOW arrests two men for allegedly generating and passing on fraudulent ITC worth Rs 4.17 crore through a fake GST-registered firm.

Two Arrested for Generating Rs 4.17 Crore Bogus ITC Through Fake GST Firm

The Gujarat High Court upholds the retrospective benefit of CBEC Circular No. 35/2010

High Court Holds Merchant Exporters Entitled to 1% AIR Customs Duty Drawback

The Gujarat High Court has held that ITAT Cannot Recall Its Final Order Under Section 254(2) by Re-hearing Case on Merits

High Court Holds Rectification Power Under Section 254(2) Cannot Be Used as a Review Jurisdiction

HC invalidates entire reassessment proceedings, holding that there was no new tangible material indicating income escapement and the reopening was merely a change of opinion. 

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ITAT Deletes TP Royalty Adjustment, Orders Fresh Review of Commission Benchmarking

HC Rules Income Tax Reopening Illegal Without Fresh Tangible Material and Based on Mere Opinion Change

Two Arrested for Generating Rs 4.17 Crore Bogus ITC Through Fake GST Firm

High Court Holds Merchant Exporters Entitled to 1% AIR Customs Duty Drawback

High Court Holds Rectification Power Under Section 254(2) Cannot Be Used as a Review Jurisdiction

High Court Holds Assessment Reopening Based On Mere Change Of Opinion and Lacked Fresh Tangible Material