The tribunal confirmed liability for Hawala transactions under FEMA but reduced the penalty from Rs. 23 Cr to Rs. 7 Cr, emphasizing proportionality in ...

The issue was whether handwritten lists and affidavits of relatives were sufficient to explain cash deposits. The Tribunal ruled that self-serving documents without independent corroboration carry no ...

The Supreme Court ruled that denying regularization to certain ad-hoc employees while others were regularized was discriminatory. The Court reinstated the affected staff and granted full employment ...

The case involved reassessment based on alleged cash payment for property. The Tribunal held that basic fact-checking is mandatory before confirming a ₹71.23 lakh addition under Section ...

The Supreme Court held that High Courts cannot examine whether a cheque was issued for a debt while quashing proceedings. The statutory presumption under Section 139 must be rebutted only during ...

The ITAT held that documented share transactions through recognised exchanges cannot be treated as bogus without contrary proof. General investigation reports and suspicion were held insufficient to ...

The Tribunal held that operational suspension and status quo directions do not permit nil valuation of stock. Proper valuation is mandatory under the mercantile ...

The ITAT held that once an assessee’s premises are searched, proceedings must be under Section 153A. Invoking Section 153C in such cases is a jurisdictional ...

The central bank has laid down fresh directions requiring transparent, Board-approved interest rate frameworks for urban co-operative banks. The key takeaway is stronger safeguards against excessive ...

If you’ve ever wondered whether Bitcoin deserves a place alongside your stocks, bonds and cash, you’re in good company. Over ...

Delhi High Court held that denial of benefit of Input Tax Credit [ITC] due to non-filing of TRAN-1 not justified since the ...

The tribunal ruled that buying property through a court-supervised auction does not shield a transaction from benami law.