Judgement

Tribunal holds Supreme Court’s Checkmate ruling applies retrospectively and validates adjustments made under Section 143(1)(a)

ITAT Upholds CPC Disallowance of Delayed PF & ESI Contributions Despite Pre-Return Payment

Articles

The government has proposed significant amendments to the earlier 60-year-old Income Tax Act of 1961, scheduled to effect from April 01.

New Income Tax Act 2025 Replacing Earlier 60-Year-Old Income Tax Rules; Effective April 01

New Income Tax Act 2025 Replacing Earlier 60 Year Old Income Tax Rules to Effect from April 01

ITAT allowed deduction of Rs. 1.06 crore interest expense under Section 57(iii), holding that interest paid on borrowed funds used to earn interest income is a valid allowable expense.

ITAT Upholds Section 57(iii) Deduction for Interest Paid on Borrowed Funds; Favours Assessee

ITAT held that gratuity and leave encashment provisions qualify as a valid application of income for charitable trusts under Section 11, dismissing the Revenue’s appeal.

ITAT Mumbai Allows Gratuity and Leave Provisions as Valid Income Application for Charitable Trust

Gujarat HC ruled that Income Tax reassessment cannot reopen an assessment year beyond 10 years, even if a later search reveals new material.

Gujarat HC: Income Tax Reassessment Beyond 10 Years Invalid Even After Search

Supreme Court issues notice on Delhi HC order to decide if employers can claim PF/ESI deductions when employee contributions are deposited late.

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ITAT Upholds CPC Disallowance of Delayed PF & ESI Contributions Despite Pre-Return Payment

New Income Tax Act 2025 Replacing Earlier 60 Year Old Income Tax Rules to Effect from April 01

ITAT Upholds Section 57(iii) Deduction for Interest Paid on Borrowed Funds; Favours Assessee

ITAT Mumbai Allows Gratuity and Leave Provisions as Valid Income Application for Charitable Trust

Gujarat HC: Income Tax Reassessment Beyond 10 Years Invalid Even After Search

Timely Deposit Vs. Delayed Contribution Debate: Supreme Court to Examine Delhi HC Ruling on PF/ESI Deduction