The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has set aside the assessment orders and ruled that the proceedings under Section 153A of the Income Tax Act, 1961, were invalid due to non-compliance with Rule 112F and CBDT Circular No. 10/2012. Vijay Madan Varma (assessee), an individual faced scrutiny following the seizure of […]
The Cochin Bench of Income Tax Appellate Tribunal ( ITAT ) restricts addition of construction cost disallowance to Rs. 10 lakh due to lack of documentary evidence and deletes the disallowance related to cost of improvement. Joseph Puthenpurayil Augusthy, appellant-assessee, was a non-resident who filed income tax return on 31st May 2013, declaring income of […]
The Delhi Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that the exemption under the EPCG notification for sericulture projects waives only the requirement to maintain average export performance and does not exempt exporters from meeting export obligations within specified time blocks. Kasare Vanya Silk Mills Pvt. Ltd., the appellant, set […]
The Central Board of Indirect Taxes and Customs (CBIC) through Notification No. 40/2025-Customs (N.T.), issued on 31st May 2025, announced an extension of the deadline for submitting sensitive item declarations under the Sea Cargo Manifest and Transshipment Regulations, 2018. The revised deadline is now set for 30th September 2025. It specifically modifies the timeline mentioned […]
