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ITAT Slams Revenue: Appeal Dismissed After AO’s Unexplained Truck Business Income Addition Found Baseless

ITAT Slams Revenue: Appeal Dismissed After AO’s Unexplained Truck Business Income Addition Found Baseless The present appeal has been filed by the DCIT, Circle 61(1),...

Allahabad HC Says GST Refund Can Be Claimed by Taxpayer, Not Just Depositor; Ambuja Cement Wins Relief

Allahabad HC Says GST Refund Can Be Claimed by Taxpayer, Not Just Depositor; Ambuja Cement Wins Relief Ambuja Cement cancelled its plant contract after paying...

ITAT Delhi Upholds Foreign Tax Credit Claim Despite Nil Indian Tax Liability Under Section 10A

ITAT Delhi Upholds Foreign Tax Credit Claim Despite Nil Indian Tax Liability Under Section 10A The ITAT Delhi recently held that a taxpayer can claim...

Income Tax Dept Slapped for Using MagicBricks to Inflate Rent: ITAT Orders Fresh ALV Calculation

Income Tax Dept Slapped for Using MagicBricks to Inflate Rent: ITAT Orders Fresh ALV Calculation The present appeal has been filed by a taxpayer named...

Govt. Notifies New Tolerance Range for Arm’s Length Price: 1% for Wholesale Trading, 3% for Others

Govt. Notifies New Tolerance Range for Arm’s Length Price: 1% for Wholesale Trading, 3% for Others The Ministry of Finance (Department of Revenue) has recently...

Bombay High Court Quashes Rs. 22 Crore Tax Notice Based on Fake AI-Generated Judgments

Bombay High Court Quashes Rs. 22 Crore Tax Notice Based on Fake AI-Generated Judgments The use of AI (artificial intelligence) is slowly growing day by...

Telangana Govt. Issues SOP to Prevent Issuance of Multiple GST Orders on Same Issue

Telangana Govt. Issues SOP to Prevent Issuance of Multiple GST Orders on Same Issue The Office of the Commissioner of Commercial Taxes has issued a...

ICAI in Controversy: ICAI Leadership Criticised for Risking CA Profession’s Future with Reckless Reforms

ICAI in Controversy: ICAI Leadership Criticised for Risking CA Profession’s Future with Reckless Reforms An individual at platform 'X' (formerly Twitter) has recently criticised the...

ITAT Ahmedabad Quashes Rs. 1.02 Crore Loan Addition, Validates Business Transaction

ITAT Ahmedabad Quashes Rs. 1.02 Crore Loan Addition, Validates Business Transaction The present appeal has been filed by a company named Nirbhay Consultants Private Limited...

ITAT Reverses Disallowance of Interest Expense, Rs. 7 Crore Loan Repayment Overlooked

ITAT Reverses Disallowance of Interest Expense, Rs. 7 Crore Loan Repayment Overlooked The current appeal has been filed by Mahadev Infracon (Appellant) against the Dy....

ITAT Ahmedabad Grants Second Opportunity to Assessee with a Cost; Case Remanded to CIT(A)

ITAT Ahmedabad Grants Second Opportunity to Assessee with a Cost; Case Remanded to CIT(A) The present appeal has been filed by an individual named Bhoomi...

ITAT Quashes Income Tax Addition for Cash Deposits During Demonetisation; Retired Officer Wins Relief

ITAT Quashes Income Tax Addition for Cash Deposits During Demonetisation; Retired Officer Wins Relief The present appeal has been filed by an individual named Karansinh...

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