Judgement

The Tribunal confirmed the CIT(A)'s order and held that only the profit element embedded in such purchases can be added to the income and not the entire purchase.

Only Profit Element Embedded in Alleged Bogus Purchases Must be Taxed: ITAT Upholds CIT(A)'s Order

News

The Directorate General of Commercial Intelligence and Statistics teams inspect factories and residences in Aligarh and Hathras over suspected large-scale GST evasion.

DGGI Raids LD Goyal’s Factories in Hathras and Aligarh Over Suspected Rs. 20 Crore Tax Evasion

The AO was directed to determine whether the surrender of PAN was informed before reassessment and whether the impugned investments were actually connected to the surrendered PAN.

Mistake in Quoting PAN won’t Invalidate Income Tax Proceedings: ITAT

SC rules that mere mention of the word “arbitration” in a contract clause does not create a binding arbitration agreement; upholds P&H High Court’s finding in Alchemist Hospitals case.

SC Clarifies: “Mediation Between Chairmen” Clause Not Arbitration Agreement Under A&C Act

A Central GST operation in Bareilly uncovers Rs. 5 crore in unaccounted cash, sending shockwaves through the city’s business community.

Central GST Team Recovers Rs. 5 Crore from Bareilly Industrialists Tarun and Varun Agarwal

Supreme Court sets aside MP High Court’s quashing of 498A FIR; rules that courts cannot assess truth of allegations at FIR stage and must avoid “mini trials.”

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Only Profit Element Embedded in Alleged Bogus Purchases Must be Taxed: ITAT Upholds CIT(A)'s Order

DGGI Raids LD Goyal’s Factories in Hathras and Aligarh Over Suspected Rs. 20 Crore Tax Evasion

Mistake in Quoting PAN won’t Invalidate Income Tax Proceedings: ITAT

SC Clarifies: “Mediation Between Chairmen” Clause Not Arbitration Agreement Under A&C Act

Central GST Team Recovers Rs. 5 Crore from Bareilly Industrialists Tarun and Varun Agarwal

At FIR Stage, Courts Must Only Examine Prima Facie Case, Not Assess Truth or Reliability of Allegations: Supreme Court