Judgement

The ITAT Chennai quashed penalty order passed beyond 6 Month Limitation period under Section 275(1)(c).

ITAT Quashes Section 271D Penalty as Barred by Limitation

5paisa Capital secures Rs 40.03 crore relief in its AY 2023-24 income tax appeal, reducing the disputed disallowance to Rs 2.87 crore.

5paisa Capital Wins Major Relief in Income Tax Appeal, Disallowance Cut to Rs 2.87 Crore

The ITAT condones 349-Day Delay in Appeal by Small Farmer and directs AO to reconsider penalty proceedings.


ITAT Remands Case for Fresh Decision After Granting Hearing Opportunity

Max Healthcare Institute Limited has disclosed that the NCLT Cuttack Bench has adjourned the hearing of petitions involving its subsidiary Kalinga Hospital Limited to October 30, 2026.

Max Healthcare Subsidiary Kalinga Hospital Faces NCLT Proceedings; Hearing Adjourned to October 30

CBI conducts searches at multiple Mumbai locations in connection with an alleged Rs 58.48 crore SBI loan fraud involving Avaya Industries Ltd and its directors.

CBI Conducts Searches at Multiple Locations in Mumbai Over Alleged Rs 58.48 Crore SBI Loan Fraud Involving Avaya Industries

The ITAT Delhi directs AO to reconsider taxability of plot surrender compensation after granting the assessee a fair opportunity of hearing.

ITAT Remands Addition for Fresh Assessment After Setting Aside Ex-Parte Orders

The SC has ruled that income tax reassessment proceedings are invalid in the absence of a mandatory notice under Section 143(2), clarifying that taxpayer participation cannot cure the complete non-issuance of such notice.

Supreme Court: Income Tax Reassessment Invalid Without Mandatory Section 143(2) Notice Issuance Even If Taxpayer Participates

The ITAT Delhi held that repayment of Rs 1 Crore loan before reassessment notice supports genuineness.

ITAT Holds Repaid Loan Cannot Be Treated as Bogus Accommodation Entry Merely on Suspicion

The ITAT Ahmedabad rules that revision is invalid where assessing officer conducted due enquiries and adopted a plausible view.


ITAT Holds Audit Objection Cannot Alone Justify Reassessment Revision

The ITAT Ahmedabad rules that penalty under Section 270A requires revenue to establish misreporting under the specific categories given under Section 270A(9).


ITAT Holds Mere Disallowance of Employees’ PF/ESI Contribution Insufficient

Income Tax

Finance

ICAI

ITAT Delhi

ITAT

Chartered Accountant

CBDT

ITAT Mumbai

Rajshree Sugars & Chemicals receives a favourable order dropping all central excise proceedings involving Rs 62.83 crore in demand, penalty and interest, with no financial impact on the company.

Rajshree Sugars & Chemicals Wins Major Tax Relief as Chennai Commissioner Drops Rs 62.83 Crore Central Excise Proceedings

The RBI has imposed a total penalty of Rs 7.3 lakh on Canara Bank over ATM cashouts at 73 ATMs across Karnataka and Tamil Nadu.

RBI Imposes Rs 7.3 Lakh Monetary Penalty on Canara Bank Over ATM Cashouts at 73 ATMs in Karnataka and Tamil Nadu

The ITAT restored the matter to the AO for fresh assessment after finding that the CIT(A) had passed an ex parte order without adjudicating all grounds of appeal on merits, violating the principles of natural justice.

ITAT Quashes Section 271D Penalty as Barred by Limitation:

ITAT Quashes Section 271D Penalty as Barred by Limitation

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