The initial assessment for this year was completed ex parte by the Assessing Officer (AO) on November 7, 2019, under Section 144 of the Income Tax Act, 1961. An ex parte assessment is carried out when ...

Pursuant to certain news reports and review of certain legal proceedings against the promoter of a SEBI registered SM REIT, namely Strata SM REIT having Registration Number IN/SM-REIT/24-25/0004 in ...

CBIC Reports Customs Cooperation, GST Grievance Mechanism, and ITC Fraud Detection; Weekly newsletter from Chairman, CBIC dated 13/05/2025 ...

The Central Board of Indirect Taxes & Customs (CBIC) has issued Instruction No. 10/2025-Customs, dated May 13, 2025, to revise the formats used for reporting arrests and incidents where no arrest is ...

Central Board of Direct Taxes (CBDT), under the Ministry of Finance, has issued Notification No. 47/2025-Income Tax dated 13th May 2025, granting tax exemption to the Telangana State Pollution Control ...

Bangalore bench, has ruled in favour of M/s Veer-0-Metals Pvt Ltd, a 100% Export Oriented Unit (EOU), directing the tax authorities to grant a cash refund of unutilized Cenvat credit for the period ...

Key proposals include aligning the Know Your Customer (KYC) review cycle for these FPIs (termed IGB-FPIs) with the timelines prescribed by the Reserve Bank of India for regulated entities, which are ...

Regarding the Section 23 addition, the assessee contended that the meager business income did not negate the fact that the premises were used for business. It was also argued that ...

Given the trust’s failure to provide any explanation for its non-compliance, the ITAT decided to impose a cost of Rs. 5,000 on the trust. The trust is required to pay this amount to the Income Tax ...

The Commissioner (Appeals) had dismissed the company’s appeal (Appeal No. 212 of 2024) on the sole ground that the mandatory pre-deposit required under Section 107 of the Central Goods and Services ...

Income Tax Appellate Tribunal (ITAT), Delhi bench, has registered the dismissal of an appeal filed by Flovel Energy Pvt. Ltd. for the assessment year 2017-18. The action was taken by the tribunal ...

Subsequently, the AO estimated the company’s income by applying a net profit rate of 20% on the declared turnover of Rs. 8,76,17,876, arriving at an estimated income of Rs. 1,75,23,575. This resulted ...