Judgement

The ITAT agreed with the CIT(A), ruling that the High Court in the case of Karnataka Bank [2009] 316 ITR 345, already stated that the non-rural debts are not required to be adjusted against such provisions.

ITAT Upholds CIT(A) Decision Allowing Bad Debt Deduction Under Section 36(1)(vii) for Non-Rural Branches

The case of Sri Srinivasa Educational & Charitable Trust (supra) was cited, where it was ruled that relying only on search material without conducting an inquiry appears to be the case of borrowed satisfaction.

ITAT Quashes PCIT's Registration Cancellation Order Due to AO's Borrowed Satisfaction

The ITAT remanded the case back to CIT(A) after imposing a Rs. 10,000 cost on the assessee for non-cooperation, allowing a fresh opportunity to explain unexplained investments and cash deposits.

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

News

Tejas Mundada secures AIR 2 in CA Final 2025, showcasing remarkable consistency, commitment, and balance between academics, articleship, and innovation.

Hyderabad’s Tejas Mundada Secures AIR 2 in CA Final 2025: A Journey of Consistency and Commitment

ITAT Bangalore held that excess stock found during a survey in a jewellery firm should be taxed as regular business income, not as unexplained investment under Section 69B.

ITAT Rules Excess Stock in Jewellery Business to Be Taxed as Regular Business Income, Not Unexplained Investment

Court affirms conviction of three accused who facilitated and participated in a premeditated group assault ju8leading to a fatal stabbing during a family wedding in Pune

SC Upholds Life Imprisonment for Pune Wedding Murder; Common Object Under Section 149 IPC Fully Proven

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