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    April 29, 2026   Case Laws Customs
    Therapeutic plant extract classification under Chapter 30 denied concessional customs duty tied to vegetable extracts.
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    April 29, 2026   Case Laws Income Tax
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    April 29, 2026   Case Laws Income Tax
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    April 29, 2026   Case Laws Income Tax
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April 29, 2026   Case Laws Customs
Therapeutic plant extract classification under Chapter 30 denied concessional customs duty tied to vegetable extracts.
April 29, 2026   Case Laws IBC
Corporate guarantee claims as financial debt upheld; rejection for verification and stamping defects set aside as perverse.
April 29, 2026   Case Laws IBC
Back-to-back contract receivables held outside liquidation estate; sub-contractor dues treated as CIRP costs, with limited interest awarded.
April 29, 2026   Case Laws FEMA
Foreign exchange contravention upheld, but penalty reduced after corroborative evidence confirmed unauthorised currency dealing.
April 29, 2026   Case Laws GST
Statutory university affiliation fees were held outside GST as a non-commercial educational function and, alternatively, exempt educational services.
April 29, 2026   Case Laws Income Tax
Corporate personality protects company income from shareholder taxation absent statutory authority to disregard separate legal identity.
April 29, 2026   Case Laws Income Tax
Dividend Distribution Tax and DTAA benefit: conflicting High Court views on whether DDT is tax on company profits or shareholder income.
April 29, 2026   Case Laws Income Tax
Reassessment beyond four years fails when based on the same record and no specific non-disclosure is shown by the assessee.
April 29, 2026   Case Laws Income Tax
Binding DRP directions barred a section 40(a)(i) addition, and writ relief was granted despite an alternate appeal remedy.
April 29, 2026   Case Laws Income Tax
Search material can support reassessment of a third party even if the underlying search is later challenged.
April 29, 2026   Case Laws Income Tax
TDS credit on SARFAESI sale proceeds upheld where the bank was only a custodian, not the owner of the secured asset.
April 29, 2026   Case Laws Income Tax
Bogus political donation claim led to denial of section 80GGC deduction, with the Tribunal affirming disallowance.
April 29, 2026   Case Laws Income Tax
Business loss, MAT credit and rectification under DRP directions: tribunal remands verification, admits claim in principle, and upholds appealability.
April 29, 2026   Case Laws Income Tax
Agricultural income from sale of old rubber trees during replantation was exempt, as plantation operations were the ative test.
April 29, 2026   Case Laws Income Tax
Co-operative society interest deduction allowed under section 80P(2)(d) for deposits with a co-operative bank
April 29, 2026   Case Laws Income Tax
Depreciation on goodwill and captive power pricing accepted under consistent earlier rulings, sustaining the tax deduction claim.
April 29, 2026   Case Laws Income Tax
CBDT jewellery guidelines can protect explained family holdings, and addition for unexplained investment was deleted to the prescribed extent.
April 29, 2026   Case Laws Income Tax
TNMM comparable selection in medical-equipment trading: functional similarity, RPT checks, and margin verification guided ITAT's approach.
April 29, 2026   Case Laws Income Tax
Recorded satisfaction is essential for section 271D penalty initiation; absence of it renders the penalty invalid.
April 29, 2026   Case Laws Income Tax
Higher depreciation for medical equipment denied where assets were not covered by the notified life-saving category; rectification upheld.

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Income Tax

In the case, ITAT decided on two main issues: 1. Addition on...

Tax Tribunal Orders Deletion of Jewelry and Cash Additions Due to Reasonable Explanations and Lack of Evidence.

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Income Tax June 18, 2024 Case Laws AT
In the case, ITAT decided on two main issues: 1. Addition on account of Gold and Silver Jewellery u/s 69A: Assessee disclosed Rs. 70,00,000 as unexplained investment during search. ITAT found the disclosed gold and silver quantities reasonable based on CBDT guidelines. Assessee declared gold ornaments and silver items in HUF for deduction. ITAT directed AO to delete Rs. 28,96,104 addition. 2. Addition of cash found u/s 69A: Assessee explained Rs. 1,50,000 belonged to M/s. Sarvodaya Agrotech. AO added Rs. 3 lac cash found. CIT(A) sustained Rs. 2 lac addition, considering savings of Rs. 2 lac. ITAT found no merit in sustaining Rs. 2 lac addition, as assessee cooperated, disclosed income, and had wealth tax history. ITAT directed AO to delete the Rs. 2 lac cash addition.
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