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Priority Jewels secures Rs 3.54 crore tax relief after CIT(A) deletes additions and directs penalty proceedings to be dropped.

Priority Jewels Receives Favourable Income Tax Order From CIT(A), Gets Relief of Around Rs 3.54 Crore in Tax Demand

Judgement

The ITAT Mumbai finds no reason for Section 154 Rectification and deleted the disallowance.

ITAT Holds Partner Remuneration Allowable Where Partnership Deed Authorises Payment

The ITAT Mumbai allows final opportunity to assessee after ex parte assessment and appeal.

ITAT Remits Rs 1.65 Crore Unexplained Investment Case for Fresh Adjudication

The Supreme Court will examine whether regular Assessing Officers can legally issue reassessment notices under the retrospectively inserted Section 147A.

Supreme Court to Examine Section 147A Validity: Can Jurisdictional Assessing Officers Continue Issuing Reassessment Notices?

The ITAT Mumbai deletes major additions based on unverified excel sheets and restricts unaccounted sales to actual figures.

ITAT Holds Uncorroborated Excel Data and Selectively Matched Entries Cannot Sustain Additions

Haryana State Tax Bar Association has urged the Finance Ministry and CBDT to extend the Tax Audit Report due date for AY 2026-27 beyond 30 September 2026, preferably by at least 30 days, citing heavy compliance workload, transition-related challenges and portal issues

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Priority Jewels Receives Favourable Income Tax Order From CIT(A), Gets Relief of Around Rs 3.54 Crore in Tax Demand

ITAT Holds Partner Remuneration Allowable Where Partnership Deed Authorises Payment

ITAT Remits Rs 1.65 Crore Unexplained Investment Case for Fresh Adjudication

Supreme Court to Examine Section 147A Validity: Can Jurisdictional Assessing Officers Continue Issuing Reassessment Notices?

ITAT Holds Uncorroborated Excel Data and Selectively Matched Entries Cannot Sustain Additions

Haryana State Tax Bar Association Demands 30 Days Tax Audit Due Date Extension