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    August 28, 2026   Case Laws Income Tax
    Leave encashment exemption: beneficial enhanced ceiling applies retrospectively to earlier assessment years, removing related taxable additions.
    August 28, 2026   Case Laws Income Tax
    Jurisdictional notice defect allows collateral challenge to assessment and nullifies consequential penalty proceedings despite assessment finality.
    August 28, 2026   Case Laws Customs
    Delayed pronouncement of reserved judgments prompted release of an indirect-tax writ petition, while interim status quo continued temporarily.
    August 28, 2026   Case Laws Customs
    Customs Broker licence revocation requires serious regulatory breach; procedural lapses warrant penalties but not loss of licence.
    August 28, 2026   Case Laws Customs
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    August 28, 2026   Case Laws Money Laundering
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    PMLA attachment requires surviving scheduled offences and cannot be confirmed through a later, unrecorded FIR
    August 28, 2026   Case Laws Service Tax
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    August 28, 2026   Case Laws Central Excise
    Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
    August 28, 2026   Case Laws Central Excise
    Recovery of suo motu excise credit as erroneous refund is time-barred after the applicable limitation period expires.
    August 28, 2026   Case Laws Indian Laws
    Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sus...
    August 27, 2026   Notifications Indian Laws
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    August 27, 2026   Circulars SEBI
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    August 27, 2026   Circulars SEBI
    IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monito...
    August 27, 2026   Circulars Customs
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    August 27, 2026   Case Laws GST
    Show-cause notice limits penalty liability: imposing a handler's proposed penalty on the petitioner required fresh adjudication.
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August 28, 2026   Case Laws Income Tax
Leave encashment exemption: beneficial enhanced ceiling applies retrospectively to earlier assessment years, removing related taxable additions.
August 28, 2026   Case Laws Income Tax
Jurisdictional notice defect allows collateral challenge to assessment and nullifies consequential penalty proceedings despite assessment finality.
August 28, 2026   Case Laws Customs
Delayed pronouncement of reserved judgments prompted release of an indirect-tax writ petition, while interim status quo continued temporarily.
August 28, 2026   Case Laws Customs
Customs Broker licence revocation requires serious regulatory breach; procedural lapses warrant penalties but not loss of licence.
August 28, 2026   Case Laws Customs
Voluntary Section 108 statements and original electronic invoices supported customs-value rejection for under-invoiced imported food products.
August 28, 2026   Case Laws Companies Law
Subsisting judicial orders require immediate company restoration despite a proposed review, subject to any later review direction.
August 28, 2026   Case Laws IBC
Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural justice objections.
August 28, 2026   Case Laws Money Laundering
Substitution of attached proceeds with a bank guarantee cannot secure release where PMLA confiscation objectives would be defeated.
August 28, 2026   Case Laws Money Laundering
PMLA attachment requires surviving scheduled offences and cannot be confirmed through a later, unrecorded FIR
August 28, 2026   Case Laws Service Tax
Reverse charge requires a service provider-recipient relationship; foreign bank deductions and regulatory dossier preparation escaped service tax.
August 28, 2026   Case Laws Service Tax
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax liability.
August 28, 2026   Case Laws Central Excise
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment bar.
August 28, 2026   Case Laws Central Excise
Recovery of suo motu excise credit as erroneous refund is time-barred after the applicable limitation period expires.
August 28, 2026   Case Laws Indian Laws
Vicarious liability for cheque dishonour requires specific allegations of responsibility and cheque signatory; generic director allegations cannot sustain prosecution.
August 27, 2026   Notifications Indian Laws
Tribunals Reforms Act provisions become fully operational, activating the statutory framework for tribunal-related reforms from the notified date.
August 27, 2026   Circulars SEBI
Cyber incident reporting adopts the FIRE format, requiring regulated entities to submit structured lifecycle updates through the reporting portal.
August 27, 2026   Circulars SEBI
IT Resilience Index requires market infrastructure institutions to automate resilience scoring, early warnings, and continuous service-delivery monitoring.
August 27, 2026   Circulars Customs
Customs cargo custodianship covers imported and export goods at the container freight station until statutory clearance or export.
August 27, 2026   Circulars Customs
Customs Area designation permits specified container freight station premises to handle import and export cargo under prescribed customs procedures.
August 27, 2026   Case Laws GST
Show-cause notice limits penalty liability: imposing a handler's proposed penalty on the petitioner required fresh adjudication.

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Home › Highlights › Income Tax › 2025 › January, 2025 › This
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Income Tax

PCIT issued revision notice under s263 based on audit objections...

Tax Revision Notice u/s 263 Quashed: Previous Assessment Officer's Investigation of Property and Bank Details Found Complete.

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Income Tax January 29, 2025 Case Laws AT
PCIT issued revision notice under s263 based on audit objections regarding unexplained property investments and bank deposits. The second notice dated 17.2.2022 introducing new issues exceeded statutory two-year limitation period. AO had previously examined property investments and ICICI bank account through s148 proceedings, conducting specific inquiries with documented evidence. ITAT determined this wasn't a case of inadequate inquiry as AO had performed necessary investigations and maintained proper records. Following precedents from SC and ITAT Chandigarh, the revision proceedings were deemed invalid both procedurally and substantively. The PCIT's order was quashed, and assessee's appeal was allowed, confirming that AO's original assessment addressing both disputed issues was proper and complete.
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Acts Income Tax
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