The Tribunal clarified that the institution existed solely for education and had no unrelated profit-oriented objects. Hence, the stricter test laid down in New Noble Educational Society did not ...

The Tribunal quashed the Assessing Officer’s action of taxing the entire purchase value after invoking Section 145(3). Only estimated profit embedded in such purchases, if higher than declared profit, ...

Income from property blended into an HUF remains taxable in the individual’s hands under section 64(2). The ruling highlights that blending cannot be used as a tool for income ...

The law recognises a Hindu Undivided Family as a creature of birth, not agreement, with the Karta deriving authority solely from coparcenary status. Management rights arise by operation of Hindu law ...

RBI has issued new Directions consolidating customer service and fair conduct norms for RRBs. The rules take effect immediately and aim to strengthen ethical banking practices. The key takeaway is ...

The issue involved denial of charitable registration citing delay and lack of evidence. The Tribunal ruled that the assessee deserved a final opportunity to substantiate activities before a fresh ...

RBI has notified comprehensive KYC Directions applicable to all RRBs with immediate effect. The rules aim to prevent money laundering and terrorist financing through stricter customer due diligence ...

RBI has issued binding Directions prescribing how Regional Rural Banks must present and disclose their financial statements. The Directions apply to all RRBs with immediate effect and aim to improve ...

RBI has notified new Directions governing miscellaneous regulatory and operational aspects of RRBs. Certain provisions also apply to sponsor banks, reinforcing shared oversight. The key takeaway is ...

ITAT Delhi emphasized that FAR analysis governs segmentation for transfer pricing purposes. Artificial aggregation without ...

The ITAT dismissed the appeal in limine after the assessee failed to rectify signing and verification defects despite multiple opportunities. Signing of appeal documents was held to be foundational to ...

The ITAT found that Rule 8D cannot be applied blindly without examining the nature of investments and income earned. The matter was restored to the Assessing Officer to verify whether investments were ...