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CESTAT Ruling Challenges Reliance on Visual Estimation in Excise Audits
CESTAT's Kolkata ruling states excise authorities cannot solely rely on visual estimation for stock discrepancies, impacting manufacturers' audit defense.
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CESTAT Ruling Clarifies CENVAT Credit Reversal in Excise Disputes
A new CESTAT ruling clarifies CENVAT credit reversal in excise disputes, impacting manufacturers and Rule 6 interpretations.
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ITAT Rules Cash Deposits in Medical Business Are Not Fully Taxable Under Section 69A
Clarifying Tax Treatment for Business Cash DepositsIn a significant ruling for small-scale retailers, the Income Tax Appellate Tribunal (ITAT) has clarified that cash deposits made into a medical store's bank…
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ITAT Condonation Ruling: Prioritizing Substantial Justice Over Procedural Delays
The Income Tax Appellate Tribunal (ITAT) recently issued a landmark ruling, condoning a nearly three-year delay in filing an appeal after the taxpayer cited erroneous professional advice as the primary…
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ITAT Ruling Provides Crucial Relief for Trusts Facing Section 11(2) Exemption Denials
A New Procedural Path for Charitable TrustsThe Income Tax Appellate Tribunal (ITAT) recently issued a landmark ruling providing a procedural lifeline to charitable trusts that have failed to file Form…
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ITAT Limits Rectification Powers: Section 154 Cannot Overturn Debatable Section 80P Deductions
ITAT rules Section 154 cannot overturn debatable Section 80P deductions, safeguarding taxpayers from rectification of opinion changes.
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ITAT Rules Technical Errors in ITR Filing Do Not Void Section 80P Deductions
Discover how a new ITAT ruling protects Section 80P deductions for cooperative societies despite minor technical ITR filing errors.
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ITAT Rules Against Automatic Rejection of Chapter VI-A Deductions Following Filing Errors
ITAT rules against automatic rejection of Chapter VI-A deductions for tax return errors, ensuring fair assessment and verification.
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ITAT Ruling Strengthens Taxpayer Defense Against Section 68 Additions
The Income Tax Appellate Tribunal (ITAT) recently ruled in favor of an assessee, deleting a contentious addition under Section 68 of the Income Tax Act after determining that a mere…
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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.