News

The RBI has imposed a Rs 9 lakh penalty on MobiKwik for permitting PPI transfers to non-pre-registered beneficiaries beyond the prescribed time limit and failing to report certain frauds within the stipulated timeframe.

RBI Imposes Rs 9 Lakh Penalty on MobiKwik for Violating PPI and Fraud Reporting Norms

Judgement

The ITAT Delhi holds satisfaction recorded after April 1, 2021, requires Reassessment under amended provisions.

ITAT Holds AO Should Have Invoked Sections 147 And 148A After April 2021 Amendment

The ITAT deleted Section 69C additions, holding that third-party GST data and unsupported allegations could not justify purchase additions when the books of accounts were not rejected.

ITAT Deletes Rs 1.70 Crore Additions, Says Purchases Cannot Be Disallowed Without Rejecting Book

The ITAT quashed the assessment against Pioneer Town Planners Pvt. Ltd., holding that the ACIT could not assume jurisdiction without a valid transfer order under Section 127 of the Income Tax Act, 1961.

ITAT Quashes Assessment Order as ACIT Lacked Jurisdiction Without Transfer Order under Section 127 

The ITAT Delhi holds outsourcing manufacturing work to Karigars within SEZ does not disqualify the assessee from Tax Exemption.

ITAT Holds Handmade Production Through Karigars Eligible

The ITAT Delhi permitted Assessee to withdraw appeals after filing application before Tribunal.

Universal Unity Trust Withdraws Appeals Against CIT(E) Order

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