Concessional tax regime for new manufacturing domestic companies - Form 10-ID and commencement of manufacturing Entitlement to the concessional tax regime u/s 115BAB where Form 10-ID was filed with the first return before commencement of manufacturing - HELD THAT: - The statutory scheme requires the option to be exercised through Form 10-ID with the first return, while manufacturing may commence by the stipulated later date. A harmonious construction does not require an assessee to certify co... ... ...

Compulsory manual scrutiny selection under CBDT Instruction -survey criterion - Validity of notice for scrutiny assessment - Validity of the notice for compulsory manual scrutiny where selection was made under the CBDT parameter applicable to assessments pertaining to a survey, though no survey had been conducted in the assessee's case HELD THAT: - The notice expressly recorded selection under paragraph 1(ii) of the CBDT Instruction, which applied to cases pertaining to a survey under sec... ... ...

LTCG computation - Fair market value of capital asset as on 01.04.1981 - Capital gains deduction for investment in specified bonds Fair market value of capital asset as on 01.04.1981 - Reverse indexation method of valuation - Adoption of the fair market value of the co-owned property as on 01.04.1981 for computing long-term capital gains - HELD THAT: - The guideline value reflected in Sub-Registrar records does not always represent fair market value. The assessee's valuation, based on the... ... ...

Transport-payment disallowance for non-furnishing of vehicle-owner declarations - disallowance u/s.40(a)(ia) - allegation of non Compliance with vehicle-owner declaration requirement - violation of provisions of section 194C(7) HELD THAT: - The requirement to obtain declarations from vehicle owners was held to be independent of the requirement for their prescribed filing. CIT(A) has categorically admitted that the Assessing Officer has clearly recorded that the declaration of the vehicle o... ... ...

Exemption u/s 11(2) - delayed filing of Form 9A Entitlement to exemption u/s 11(2) where Form 9A and the return were filed under section 139(4), after the due date under section 139(1), but were available during assessment - HELD THAT: - The requirement of furnishing the prescribed form within the due date under section 139(1) was treated as directory where the form was available on the assessment record. Since Form 9A was available when the original assessment was made and Forms 9A and 10 we... ... ...

Reassessment - non consideration of assessee's reply under section 148A - change of opinion Validity of reassessment initiated on alleged bogus expenditure relating to purchases from a supplier already examined in the original scrutiny assessment - HELD THAT: - An order under section 148A(d) must be founded on the material on record, including the assessee's reply to the show-cause notice. The Assessing Officer neither supplied the third-party statement relied upon nor considered the ... ... ...

Levy of penalty u/s.271B - Period of Limitation for penalty for failure to furnish tax audit report - Reasonable cause for delayed furnishing of tax audit report Limitation for penalty for failure to furnish tax audit report - Validity of penalty proceedings for failure to furnish the prescribed tax audit report for assessment years 2011-2012 and 2012-2013 when initiated after an inordinate delay - HELD THAT: - Penalty proceedings for failure to furnish the tax audit report were independent o... ... ...

Application of charitable income through donation to another charitable institution - Donation out of current income Treatment of a donation made out of current income by a charitable institution to another charitable institution having similar objects as application of income for charitable purposes - HELD THAT: - The donation made by a charitable institution to another charitable institution amounts to application of income for charitable purpose, as held in the case of CIT v. Aurobindo Mem... ... ...

Deduction under section 80P denied - return of income was not filed within the due date prescribed u/s 139(1) HELD THAT: - The jurisdictional High Court in M/S. NILESHWAR RANGEKALLU CHETHU VYAVASAYA THOZHILALI [2023 (3) TMI 1055 - KERALA HIGH COURT] had held that a co-operative society must claim deduction under section 80P in a return filed within the prescribed due date. Applying that binding ruling, which had distinguished the earlier contrary ruling in THE CHIRAKKAL SERVICE CO-OPERATIVE B... ... ...

Unexplained cash deposits during demonetisation - Cash deposits from business sale proceeds Addition of cash deposits in specified bank notes during the demonetisation period as unexplained money despite the assessee's explanation that they represented business sale proceeds - HELD THAT: - The Act does not compulsorily require every assessee to maintain books of account. The assessee had returned income from the business of dealing in recharge coupons and, in the absence of material to th... ... ...

Reassessment notice - sanction by specified authority - Validity of reassessment notice for AY 2017-18 issued after expiry of three years from the end of the relevant assessment year with approval of the Principal Commissioner HELD THAT: - Where more than three years have elapsed from the end of the relevant assessment year, sanction for issuance of a reassessment notice must be obtained from the higher specified authority under section 151. Approval obtained from the Principal Commissioner, ... ... ...

Condonation of delay in appeal against penalty for misreporting of income - Sufficient cause for delayed appeal HELD THAT: - The Tribunal held that the delay was not supported by a satisfactory or bona fide explanation. The claimed delayed receipt of the penalty order was unexplained, as was the subsequent interval between payment of appeal fee and filing of the appeal. The seafarer's service record did not support the explanation that the assessee was unable to act during the relevant pe... ... ...

Bogus purchases - estimation of profit element - HELD THAT: - In case of PCIT vs. Ramelex Pvt. Ltd. [2025 (10) TMI 808 - BOMBAY HIGH COURT] the Hon'ble jurisdictional Bombay High Court has upheld addition @15% in respect of bogus purchases. The Hon'ble Gujarat High Court in case of CIT vs. Simit Seth [2013 (10) TMI 1028 - GUJARAT HIGH COURT] has also upheld addition @15% of the impugned purchases. The Tribunal noted the consistent judicial approach of sustaining additions in bogus-purchase ca... ... ...

Specified amendments under the Arunachal Pradesh Goods and Services Tax (Eighth Amendment) Rules, 2021 become operative from 1 January 2022. The provisions brought into force are sub-rule (2), sub-rule (3), clause (i) of sub-rule (6), and sub-rule (7) of rule 2. The commencement is made under sub-rule (2) of rule 1 and applies only to the enumerated portions of rule 2.

Assam SGST rate schedules are amended to place biris in Schedule II at 9 per cent and specified tobacco-related goods in Schedule III at 20 per cent. The latter category includes pan masala, unmanufactured tobacco, tobacco refuse other than tobacco leaves, cigars, cigarettes, manufactured tobacco other than biris, tobacco substitutes, and specified non-combustible inhalation products. Schedule VII, prescribing a 14 per cent rate, is omitted. The amendments are deemed effective from 1 February 2026.

GST treatment of hostel accommodation supplied by an Indian university in India to students of a foreign university is considered where the stay is for at least 90 continuous days and monthly charges do not exceed Rs. 20,000 per person. The issue covers regularisation of GST liability on an "as is where is" basis for the earlier period and exemption from 15 July 2024, subject to the monthly-value and continuous-stay conditions.

Time of supply for spectrum usage and similar services under GST is to be clarified in Delhi through mutatis mutandis application of the Central Board of Indirect Taxes and Customs clarification. The approach applies for implementation of the Delhi Goods and Services Tax Act, 2017 and seeks uniformity in the treatment of time of supply for these services.

Withdrawal of the challenge to revision jurisdiction was sought because the assessee had already appealed against additions made in the consequential assessment completed pursuant to the revision order. The dispute concerned the Principal Commissioner's exercise of revisionary power and the treatment of the original assessment as erroneous and prejudicial to revenue interests. With no objection from the departmental representative, the appeal against the revision order was dismissed as withdrawn, leaving the challenge to the consequential assessment additions to be pursued separately.

Assam SGST rate schedules are amended to revise specified tariff classifications in Schedule I at 2.5% and Schedule III at 20%. Schedule I entries are substituted with tariff codes 2202 99 21, 2202 99 29, 2202 99 31 and 2202 99 39. Schedule III entries are substituted with tariff codes 2202 99 90, 2202 99 91 and 2202 99 99. The classification amendments are deemed effective from 1 May 2026.