CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Revenue's appeal challenging allowance of carry forward of business losses under section 79(2)(c) was dismissed by ITAT. The Tribunal upheld CIT(A)'s finding that change in shareholding pursuant to NCLT-approved resolution under IBC did not bar loss carry forward in absence of any contrary legal embargo, and AO was rightly directed to allow carry forward of losses. ITAT also noted that the tax effect was NIL and the appeal was independently not maintainable in view of CBDT Circular No. 9/2024. On the assessee's challenge to disallowance of employees' PF and ESI contributions, ITAT affirmed CIT(A)'s order sustaining the disallowance, following binding SC law.
Revenue's appeal challenging allowance of carry forward of business losses under section 79(2)(c) was dismissed by ITAT. The Tribunal upheld CIT(A)'s finding that change in shareholding pursuant to NCLT-approved resolution under IBC did not bar loss carry forward in absence of any contrary legal embargo, and AO was rightly directed to allow carry forward of losses. ITAT also noted that the tax effect was NIL and the appeal was independently not maintainable in view of CBDT Circular No. 9/2024. On the assessee's challenge to disallowance of employees' PF and ESI contributions, ITAT affirmed CIT(A)'s order sustaining the disallowance, following binding SC law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
