Legal Compliance – smeaccountant

ITAT Delhi Quashes Reassessment as ACIT Lacked Jurisdiction Under CBDT Income Limits

ITAT Delhi rules ACIT lacked jurisdiction for reassessment when income fell below CBDT limits, affirming ITO's exclusive authority in such cases.

Prasenjit Bhowmik June 8, 2026

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Navigating Post-Registration PRGI Compliance and Regulatory Obligations

Publishers operating within the digital and print media landscape must now navigate a rigorous framework of post-registration compliance requirements following the acquisition of their Press and Registration of Books and…

Prasenjit Bhowmik May 31, 2026

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CIT(E) Cannot Act Merely on AO’s Recommendation – Independent Satisfaction Mandatory for Grant or Rejection of U/s 12AB Registration

In a significant ruling, the Income Tax Appellate Tribunal (ITAT) has clarified that the Commissioner of Income Tax (Exemption) [CIT(E)] cannot reject applications for registration under Section 12AB of the…

Prasenjit Bhowmik May 30, 2026

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The Taxability of Standing Timber: Navigating GST Implications in Forest Auctions

Understanding the Tax Status of Forest AuctionsThe Goods and Services Tax (GST) landscape for forest auctions has undergone significant clarification, with tax authorities and judicial bodies increasingly focusing on the…

Prasenjit Bhowmik May 30, 2026

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ITAT Invalidates Reassessment Notices Issued Without Proper Statutory Sanction

ITAT rules reassessment notices issued after 3 years without proper PCCIT/CCIT sanction are invalid, impacting tax proceedings.

Prasenjit Bhowmik May 30, 2026