Judgement

Tribunal holds standalone audited financials decisive for tax computation; deletes additions made using group consolidated figures.

ITAT Quashes Rs. 49.79 Cr Additions; Held Consolidated Accounts Ignored

Announcement

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The ICAI is inviting feedback on its Study Material for CA Course.

ICAI Invites Feedback on Study Material for CA Course

News

A major GST fraud involving Rs. 266 crore bogus invoices and Rs. 48 crore fake ITC by shell companies, led by a CA mastermind, has been exposed by DGGI Bengaluru.

Chartered Accountant Busted in 266 Cr GST Scam: 48 Cr Fake ITC via Bogus Invoices

ITAT upholds CIT(A)’s deletion of Section 68 addition; finds unsecured loans genuine and no material linking assessee to entry operations.

ITAT: No Section 68 Addition Where Loans Duly Proven

Tribunal holds PCIT cannot invoke Section 263 when reassessment completed on specific recorded reasons; no addition made on unrelated issue.

ITAT Allows Appeal, Says PCIT Can’t Expand Scope of Reassessment via Section 263

DRI carried out a codenamed operation called “Operation Fire Trail” in a major legal action against the smuggling of Chinese firecrackers into India.

Operation Fire Trail: DRI Busts Rs. 35 Crore Chinese Firecracker Smuggling Racket

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