Articles

As per a media report, the income tax officials have received documents during the raid that suggest that the company was involved in distributing large amounts of money, gold, silver coins, and expensive gifts to many senior officials in Bihar.

Bihar: Company Under Investigation for Allegedly Bribing Bihar Officials 

Company Under Investigation for Allegedly Bribing Bihar Officials

Judgement

The ITAT dismissed the appeals filed by the revenue and quashed the reassessment proceedings for A.Y. 2015-16 and the order of CIT(A) for A.Y. 2014-15.

ITAT Quashes Time-Barred Notice and Upholds CIT(A)'s Approach of Taxing Only Profit on Purchases

The Income Tax Appellate Tribunal (ITAT), Mumbai, in one of its orders, ruled in favour of an assessee trust by granting Approval under 80G of the Income Tax Act, 1961, which was earlier rejected by the ld. CIT(E).

ITAT Clarifies: Financial Aid in India, Even for Studies Abroad, Not Foreign Application of Funds

The ITAT Mumbai ruled that the Assessing Officer had conducted proper verification of ESOP expenses, making the PCIT’s Section 263 revision order invalid.

ITAT Mumbai Quashes Section 263 PCIT's Revision Order As AO Had Made Due Enquiry on ESOP Claim

ITAT Mumbai ruled that the Rs. 70 lakh cash payment allegation in a property purchase was unsubstantiated, granting relief to the assessee.

ITAT Deletes Rs. 70 Lakh Addition on Cash Property Purchase, Citing Lack of Evidence

News

A Kerala-based flower export firm was exposed for secretly routing Rs. 330 crore through cryptocurrency in a hawala-style money laundering network.

Explore Our Blogs

Stay updated with the latest insights, tips, and industry trends from our experts

Company Under Investigation for Allegedly Bribing Bihar Officials

ITAT Quashes Time-Barred Notice and Upholds CIT(A)'s Approach of Taxing Only Profit on Purchases

ITAT Clarifies: Financial Aid in India, Even for Studies Abroad, Not Foreign Application of Funds

ITAT Mumbai Quashes Section 263 PCIT's Revision Order As AO Had Made Due Enquiry on ESOP Claim

ITAT Deletes Rs. 70 Lakh Addition on Cash Property Purchase, Citing Lack of Evidence

IT Dept. Cracks Down on Rs. 300 Crypto Hawala Racket in Kerala; Digital Wallets Used to Move Illicit Funds