News

The Anti-Corruption Bureau (ACB) has nabbed a state tax inspector of the GST Department for allegedly accepting a bribe of Rs 10,000 from an individual seeking a GST registration.

ACB Catches Maharashtra GST Inspector Red Handed While Accepting Rs 10,000 Bribe

Announcement

ICAI has denied social media claims of a data leak, stating that examination records remain secure and that the reported website is only an examiner training portal.

Examination Records Safe and Secure, ICAI Clarifies Amid Data Leak Claims

Judgement

The ITAT held that taxpayers can claim indexed cost of improvement while computing capital gains under Section 50C and directed the AO to verify the deduction amount.

Taxpayer Entitled To Indexed Cost Of Improvement Even Under Section 50C Capital Gains Computation, Holds ITAT

Articles

A simple guide to common ITR filing mistakes and the key documents taxpayers should prepare to ensure correct and hassle-free tax return submission.

Income Tax Return Filing: Mistakes to Avoid And Documents Needed

The ITAT has granted partial relief to a taxpayer by restricting the addition of disputed agricultural income to Rs 28.79 lakh while recognising genuine agricultural activities.

Farmer Declared Rs. 33.64 Lakh Agricultural Income; ITAT Treats Rs. 28.79 Lakh as Unexplained Income Due to Lack of Evidence

The ITAT held that the AO cannot make additions on issues unrelated to the reason for reopening when no addition is made on the original escapement ground, deleting a Rs 5.75 crore disallowance.

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ACB Catches Maharashtra GST Inspector Red Handed While Accepting Rs 10,000 Bribe

Examination Records Safe and Secure, ICAI Clarifies Amid Data Leak Claims

Taxpayer Entitled To Indexed Cost Of Improvement Even Under Section 50C Capital Gains Computation, Holds ITAT

Income Tax Return Filing: Mistakes to Avoid And Documents Needed

Farmer Declared Rs. 33.64 Lakh Agricultural Income; ITAT Treats Rs. 28.79 Lakh as Unexplained Income Due to Lack of Evidence

Real Estate Company Faced Rs. 5.75 Crore Tax Addition After Reassessment; ITAT Deletes Addition as It Was Not Part of Reopening Reasons