Judgement

Reassessment quashed as AO acted on vague SFIO inputs without tangible material or escaped income

HC Dismisses Revenue Appeal in Client Code Modification Case Where Assessee Paid Full Tax

Income Tax Department cannot retain recovered dues without producing or serving the underlying assessment order

Delhi HC Orders Refund of Tax Recovered Without Assessment Order

The HC quashed the demand issued against the company's vessels, holding that no customs duty could be imposed on vessels imported before the date of Notification No. 12/2012, i.e., March 17, 2012.

Madras HC Rules Customs Duty Cannot be Demanded on Vessels Imported Before 2012 Notification

The audit report was claimed to be incomplete, as it did not disclose public deposits and issues like "evergreening of assets", making the company look financially more stable than it actually was.

Delhi High Court Upholds Removal of CA from ICAI Members List for Furnishing Incorrect Audit Report

ITAT upheld the Rs. 2.07 crore addition, holding that fully repaid loans routed through banking channels with proper documentation cannot be treated as unexplained cash credits.

Genuine Loan Transactions Cannot Be Treated as Bogus: ITAT Deletes Rs. 2.07 Crore Addition 

Notifications

MCA has amended the NFRA Part-Time Members Rules, 2022, updating the list of appointed part-time members.

MCA Notifies Amendment in NFRA Part-Time Members Rules, 2022

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