Judgement

ITAT dismissed Revenue’s appeals, upholding the allowability of prior-period expenses, Section 80-IA deduction, and treating subsidies and export incentives as capital receipts.

ITAT Upholds Allowability of Prior-Period Expenses and Capital Subsidies; Favours Assessee

ITAT cancels Rs. 1.15 crore addition as Section 153C reassessments for AY 2013-14 to 2015-16 were held beyond the permissible six-year limit.

Section 153C Reassessments Beyond Six-Year Limit Held Invalid; ITAT Quashes Rs. 1.15 Crore Addition

Since, the addition was made only on the basis of an Excel Sheet without the actual physical verification of inventory, the tribunal rejected Revenue's appeal. .

Addition Made Solely on Basis of Excel Sheet Without Actual Verification is Unsustainable: ITAT

News

Union Budget 2026 is set to be presented on February 1 by Finance Minister, marking her ninth consecutive budget and the second full budget of the Modi government’s third term.

Union Budget 2026: Nirmala Sitharaman to Present Ninth Consecutive Budget on Feb 1; A Record-Breaking Moment

The High Court upholds NSIC’s rejection of its PM Vishwakarma Scheme bid for failing to submit mandatory LoAs/WCCs despite providing a CA certificate.

CA Certificate Alone Not Sufficient for Private Institutional Sales Bid: HC

Shahjahanpur police busted a Rs. 10.77 crore GST fraud involving fake firms and forged documents, arresting two accused, including a private bank manager.

Shahjahanpur Police Unearths Rs. 10.77 Crore GST Fraud Racket; Private Bank Manager Among Two Arrested

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