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Bank Deposits Linked to Business Activity: ITAT Pune Limits Addition to 8% Net Profit Estimate Under Section 44AD

Summary The ITAT Pune, in Ravindra Gajanan Mahadik Vs ITO, delivered a practically significant ruling affirming that bank deposits arising from ...
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Karnataka High Court Affirms Tribunal's Comparable Exclusion in Synamedia Transfer Pricing Dispute: Revenue's Challenge Falls Short

Summary The Karnataka High Court's decision in PCIT Vs Synamedia India Pvt. Ltd. ( Appeal No. 22 of 2021) reaffirms a foundational principle ...
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Physical Possession Under Section 14 of SARFAESI Act: Rights of Property Owners, Magistrate's Role and Available Remedies

Summary Section 14 of the SARFAESI Act is the legislative bridge between symbolic possession and actual physical dispossession. The Supreme Court has ...
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RBI MPC October 2026: Repo Rate Raised to 5.50%, Stance Shifts to Calibrated Tightening — Impact on NBFCs, Bonds and Borrowers

Summary The Reserve Bank of India's Monetary Policy Committee took a decisive step in October 2026 by raising the policy repo rate by 25 basis points to ...
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Service Tax Under RCM on Foreign Bank Charges: CESTAT Delhi Exonerates Indian Exporter in Sarda Energy Case

Summary The CESTAT Delhi decision in Sarda Energy And Minerals Ltd Vs Commissioner (Appeal) lays down a clear proposition: where an Indian exporter ...
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Section 68 Cannot Be Invoked Against Recorded Cash Sales Without Rejecting Books of Account: ITAT Agra Ruling

Summary The ITAT Agra's ruling in Jitendra Kumar Agarwal Vs DCIT reinforces a well-established legal boundary: Section 68 of the Income-tax Act, 1961 is ...
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Dishonour of Cheque Drawn on Merged Bank Does Not Attract Section 138 NI Act: Andhra Pradesh High Court

Summary The Andhra Pradesh High Court, in Ganta Kavitha Devi Vs State of Andhra Pradesh (Criminal Petition No. 8827 of 2022, decided on 25.10.2024), held ...
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NCLAT Delhi Sets Aside NCLT Order in VCare Technologies Oppression Case: Commercial Restructuring Label Cannot Substitute Specific Findings

Mr. Nikhil Rai ("A1") was a founding promoter, former Chief Operating Officer and former director of VCare Technologies Private Limited. He held 5,141 equity shares, representing approximately 7.93% ...
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Section 154 Cannot Be Used to Introduce a Fresh Section 14A Disallowance for the First Time: ITAT Chennai Ruling

Summary The ITAT Chennai, in Family Health Plan Insurance TPA Limited Vs DCIT (ITA No. 2366/Chny/2026), has delivered a clear and well-reasoned ...
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Section 56(2)(x) Cannot Be Invoked on Transfer of Tenancy Rights — ITAT Mumbai Rules in Favour of Assessee

Summary The ITAT Mumbai's decision in ACIT Vs Ashok Narendra Mehta, ITA No. 3373/Mum/2024, settles an important interpretive question: Section 56(2)(x) of ...
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Reassessment Quashed When No Addition Made on Reopening Grounds: ITAT Mumbai Ruling in Chandrakant Mohanbhai Patel Case

Summary The ITAT Mumbai's ruling in Chandrakant Mohanbhai Patel Vs ITO (ITAT Mumbai) [ITA No. 3431/MUM/2026] for AY 2020-21 reaffirms a foundational ...
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India's Revised Startup Recognition Rules Under DPIIT's 2026 Notification: A Complete Guide for Founders

Summary The 2026 startup notification under G.S.R. 108(E) delivers meaningfully expanded headroom for founders — a doubled turnover ceiling, a dedicated ...