ITAT Deletes Additions: Cash Deposits Upheld with Proper Records, No Income Estimation Without Rejecting Books

ITAT Deletes Additions: Cash Deposits Upheld with Proper Records, No Income Estimation Without Rejecting Books ITAT Ahmedabad held that cash deposits cannot be treated as unexplained if supported by proper records and evidence. It also ruled that additional income cannot be estimated without rejecting the books of accounts, thereby deleting both additions made by the tax authorities. The assessee, Bhurabhai, had...

When Law Specifies Authority, Others Cannot Act: ITAT Cancels 271D Penalty

When Law Specifies Authority, Others Cannot Act: ITAT Cancels 271D Penalty The Tribunal agreed with the appeal and said that the penalty under Section 271D...

Bombay High Court Seeks Compliance on Income Tax Refund and Interest Payment

Bombay High Court Seeks Compliance on Income Tax Refund and Interest Payment The Bombay High Court heard the matter of Lintas India Pvt Ltd vs...

Big Update for Taxpayers: Offline Filing for Forms 145, 146 Now Available

Big Update for Taxpayers: Offline Filing for Forms 145, 146 Now Available The Income Tax Department on April 15, 2026, rolled out an offline utility...

IPO

Stock Market

V-Guard Industries Receives GST Show Cause Notice Over Alleged Excess ITC Claim

V-Guard Industries Receives GST Show Cause Notice Over Alleged Excess ITC Claim V-Guard Industries Limited, a prominent Indian manufacturer specialising in electrical products, recently issued...

ITAT Sets Aside Rs 92.67 Crore Income Tax Addition for Violation of Natural Justice

ITAT Sets Aside Rs 92.67 Crore Income Tax Addition for Violation of Natural Justice The ITAT Kolkata condoned the delay of 58 days in filing...

Finance

Business

GST

Personal Finance

Retirement Planning in Focus: NPS Equity Funds Outshine Large-Cap Mutual Funds in 2025

Retirement Planning in Focus: NPS Equity Funds Outshine Large-Cap Mutual Funds in 2025 With inflation on the rise and life expectancy growing, retirement planning has emerged as an important aspect of financial planning for Indian investors. Amongst the...

Top Investment Options for Your Child to Ensure His Future

Top Investment Options for Your Child to Ensure His Future Financial security for a child is a key responsibility of parents. Financial help is needed...

Smart Tax-Saving Strategies: 7 Investment Options for Maximum Benefits

Smart Tax-Saving Strategies: 7 Investment Options for Maximum Benefits Tax planning is an important aspect of financial management, enabling individuals to lower their taxable income...

NSC vs. Bank FDs: Which Offers Better Tax Savings and Greater Returns?

NSC vs. Bank FDs: Which Offers Better Tax Savings and Greater Returns? In seeking secure investment options that are additionally tax deductible, the National Savings...

Tax-Saving for ITR Filing in AY 2025-26: Tax Loss Harvesting a Smart Strategy to Reduce Tax Liability in a Falling Market

Tax-Saving for ITR Filing in AY 2025-26: Tax Loss Harvesting a Smart Strategy to Reduce Tax Liability in a Falling Market With the end of...

Income Tax Officers can Gain Access to your Emails and Social Media Profiles From April 2026

Income Tax Officers can Gain Access to your Emails and Social Media Profiles From April 2026 The new bill is allowing tax officers to gain...

IRDAI released Claim Settlement Ratios for all Indian Life Insurance Companies in 2025

IRDAI released Claim Settlement Ratios for all Indian Life Insurance Companies in 2025 The Insurance Regulatory and Development Authority of India (IRDAI) has released the...

Special-Tenure FD Schemes That Offer Rates up to 8.05%; Invest before March 31, 2025

Special-Tenure FD Schemes That Offer Rates up to 8.05%; Invest before March 31, 2025 Several banks have introduced special fixed deposit (FD) schemes that offer...

5 Changes in March Will Affect Your Wallet; Know How?

5 Changes in March Will Affect Your Wallet; Know How? As the financial year is about to end, it is time to finish a number...

Income Tax

Unifi Mutual Introduces Flexi Cap Fund with Growth and Diversification Orientation

Unifi Mutual Introduces Flexi Cap Fund with Growth and Diversification Orientation Unifi Mutual Fund launched its second scheme, the Unifi Flexi Cap Fund. The New Fund Offer (NFO) for investment was opened till May 30, 2025. This is an open-ended equity...

Cryptocurrency

CBI Arrests Co-Founder of Darwin Labs for Role in Rs 20,000 Crore GainBitcoin Scam

CBI Arrests Co-Founder of Darwin Labs for Role in Rs 20,000 Crore GainBitcoin Scam The Central Bureau of Investigation (CBI) arrested Darwin Labs co-founder Ayush...

Audit Firm Director Arrested for Stealing Seized Digital Assets of Rs 30 Crore

Audit Firm Director Arrested for Stealing Seized Digital Assets of Rs 30 Crore Mumbai Police, on Friday, arrested a key official in a forensic audit...

Government Mandates Cybersecurity Audits for Crypto Exchanges to Prevent Cyber Theft

Government Mandates Cybersecurity Audits for Crypto Exchanges to Prevent Cyber Theft In an effort to control the rising cyber thefts in the country, the government...