Denial of Foreign tax credit - belated filing of Form No. 67 HELD THAT: - Following the co-ordinate Bench decision Surendra Kumar Goenka [2024 (12) TMI 558 - ITAT KOLKATA] in materially similar facts, the Tribunal held that foreign tax credit could not be denied solely because Form No. 67 had not been filed within the due date for furnishing the return. [Paras 11] The orders denying the foreign tax credit and the consequential levy of interest were set aside, and the Assessing Officer was ... ... ...

Assessment of bank transactions in the hands of the correct person - transactions wrongly reported with the PAN of the Firm instead of individual PAN - Erroneous PAN linkage of bank accounts Addition of bank credits as unexplained business income of a partnership firm where the bank accounts bore the firm's PAN but were used for a partner's proprietary business - HELD THAT: - The banker's confirmation and the corroborating business and tax records established that the business und... ... ...

Contingent liability - performance bank guarantees not claimed as expenditure - Additional evidence-material already forming part of assessment record Prima facie adjustment of unclaimed contingent liability - Performance bank guarantees - Validity of the adjustment treating performance bank guarantees, disclosed as contingent liabilities but not debited to the profit and loss account, as disallowable expenditure - HELD THAT: - The return, audit report and computation showed that the bank gua... ... ...

Reassessment beyond three years - sanction by the specified authority Validity of reassessment initiated beyond three years for disallowance of deduction claimed for a donation to a political party, where approval was granted by the PCIT instead of the Principal Chief Commissioner or Chief Commissioner - HELD THAT: - Where more than three years have elapsed from the end of the relevant assessment year, section 151(ii) requires sanction by the specified authority, namely the Principal Chief Co... ... ...

Suppressed sales - taxability of gross profit element Taxability of differences in sales reflected in the live billing and backup databases of the retail-garment business as entire income or only as the gross profit embedded therein - HELD THAT: - Sales constitute gross trading receipts comprising the cost of goods and the profit margin and cannot, without proof of a wholly profit-bearing transaction, be equated with income. The sales manipulation was confined to the sales tables; matching in... ... ...

Applicability of the COVID-19 exclusion of limitation period to the statutory time limit for completing a final assessment after DRP directions - HELD THAT: - The Department was required to complete the final assessment within the time prescribed by the Income-tax Act. COVID-19 exclusion of limitation period did not apply to statutory assessment proceedings undertaken by the Department. Consequently, the earlier order quashing the final assessment as time-barred did not warrant recall. [Paras... ... ...

This is a neutral professional article. The judgment is analysed in the context of its factual background, issues framed, and conclusions reached by the Court. 2026 (5) TMI 1715 - ITAT BANGALORE At a Glance • The tribunal held that, for the year governed by the statutory text applied in the appeal, a resident individual under section 115BAC(1A), whose total income did not exceed Rs. 7,00,000, could claim rebate under section 87A against tax on short-term capital gains chargeable u... ... ...

This commentary provides doctrinal analysis and practical insights on the legal issue discussed below. The judgment is analysed in the context of its factual background, issues framed, and conclusions reached by the Court. 2026 (6) TMI 40 - ITAT PUNE Introduction The validity of reassessment proceedings often turns on a sequence of distinct jurisdictional safeguards: the statutory basis for reopening, the limitation applicable to the notice, approval by the competent authority, service ... ... ...

Favourable testing by an accredited laboratory required release of the detained goods despite the department's pending appeal. Earlier directions for representative sampling and laboratory testing had attained finality because no appeal was filed against them. A proposed referral test could not justify continued withholding of the goods or negate those directions. The High Court required release within 48 hours and issuance of a detention certificate for the entire detention period until release.

Under the former reassessment framework, the time or extended time allowed for responding to a Section 148A(b) show-cause notice is excluded when computing limitation for the consequential notice. If the period remaining immediately after that exclusion does not exceed seven days, the sixth proviso supplies a seven-day residual period. The Section 148A(d) order and reassessment notice form a linked statutory sequence and must be completed within the resulting limitation period.

For restaurant services supplied through e-commerce operators, the operator pays GST under section 9(5), including where the restaurant is unregistered. Tax must be discharged entirely in cash, without using input tax credit. The operator need not collect tax at source or file GSTR-8 for these supplies, but tax collection at source continues for supplies not notified under section 9(5). Operators issue restaurant-service invoices and report the supplies in GST returns; registered restaurants include the value in aggregate turnover and make specified return disclosures.

Mandatory representative sampling of seized ganja requires records to identify source packets, show sampling from each packet or prior homogenisation, and document prescribed sample quantities. Standing Order No. 1/89 also requires sampling in the presence of witnesses and the person from whom the substance was recovered. Material non-compliance may justify an adverse inference against the prosecution and support release on bail where seizure records do not establish representative sampling.

Section 107(1) of the Act of 2017 made the challenged order appealable through the statutory appellate route, leading to non-entertainment of the writ petitions. The writ petitions were dismissed, while petitioners remained free to raise all questions in appeal. The appellate authority is to consider and decide those questions expeditiously in accordance with law.

Ganja under the NDPS Act comprises only flowering or fruiting tops of the cannabis plant, excluding seeds and leaves unless accompanied by such tops. Where seized material includes leaves, seeds and stalks without separate quantification of qualifying tops or prima facie proof that excluded components were accompanied by them, commercial quantity under Section 20(c) remains doubtful. Mixing material from two separately seized bags before drawing samples also prevents the forensic sample from reliably representing each bag's contents. These deficiencies can support bail by creating prima facie doubt about commercial quantity and the reliability of sampling.

Section 44 of the PMLA removes committal to the Special Court but does not exclude the criminal complaint procedure incorporated through Sections 46 and 65. Section 71 gives priority to the PMLA only where an actual inconsistency exists. Where the BNSS governs cognizance, the first proviso to Section 223(1) requires a meaningful hearing for the proposed accused before cognizance. The safeguard is distinct from exemptions from complainant examination, is mandatory and substantive, and permits submissions on legal sufficiency and prima facie material without converting the stage into a merits trial.

GST adjudication resulted in an order after the company did not respond to the show-cause notice or participate in the personal hearing. Following expiry of the appeal limitation, a rectification application was filed and remains pending. The issue concerns recourse during pendency of rectification where the show-cause notice is alleged to be vague and to contain repeated demands on the same issues.

Late-filing charges for Bills of Entry are calculated by excluding 4 September 2019 from the delayed-presentation period. The limited exemption applies only to that date and addresses filing difficulties caused by heavy rainfall. Presentation time limits remain governed by section 46 of the Customs Act, 1962, and regulation 4(1) of the Bill of Entry (Forms) Regulations, 2018. The directions operate as a standing order for officers and staff.

Related-party status under the IBC extends to indirect corporate control through a subsidiary chain. Section 5(24)(i), read with the Companies Act definitions incorporated through Section 3(37), recognises a corporate debtor as a step-down subsidiary where an upstream holding company controls it through another subsidiary; direct shareholding is not required. Board-composition control is an independent basis for related-party classification under Section 5(24)(l), supported by appointment rights, voting arrangements, management rights and substantive control evidence. A related financial creditor is excluded from representation, participation and voting in the Committee of Creditors under the first proviso to Section 21(2), while remaining able to pursue adjudication of its claim.

Temporary continuation of outside-laboratory testing applies to pending Group-I customs samples, particularly first-check samples, to address testing delays. Specified food, petroleum and feed-related samples may be tested by one designated laboratory, while organic chemicals, dyes, pigments, pharmaceutical products and certain metal samples may be tested by another. Importers or owners must bear testing costs. Operational difficulties may be raised with the customs officer in charge, and implementation measures are treated as standing instructions.

Inherent jurisdiction to quash criminal proceedings is limited to determining whether a complaint prima facie discloses offences; it cannot be used for a mini-trial requiring evaluation of evidence. Allegations that company directors were appointed without authority and forged documents were uploaded with the Ministry of Corporate Affairs to secure control of the company disclosed serious offences requiring trial. Parallel civil disputes did not eliminate the criminal character of those allegations. Criminal proceedings therefore remained liable to proceed rather than be quashed.