While upholding ALP adjustment on LOC in case of Axis Bank, the Ahmedabad ITAT rules on difference between letter of comfort (LOC) and guarantee commission. With respect to LOC being equated to.
The Gujarat High Court in a recent ruling underscored the importance of tangible evidence and a valid reason to believe that income has escaped assessment in a significant decision regarding the.
The Gujarat High Court has delivered a significant ruling, asserting that reassessment on suspicion for making further inquiry is unsustainable under section 148 of the Income Tax Act.The division.
A three judge Supreme Court bench comprising of Chief Justice U. U. Lalit, Justice S. Ravindran Bhat and Justice P.S. Narasimha, pronounced a landmark ruling on exemptions claimed by Charitable Institutions under Income Tax Act, 1961 on October 19, 2022.