News

CBI conducts searches at multiple Mumbai locations in connection with an alleged Rs 58.48 crore SBI loan fraud involving Avaya Industries Ltd and its directors.

CBI Conducts Searches at Multiple Locations in Mumbai Over Alleged Rs 58.48 Crore SBI Loan Fraud Involving Avaya Industries

The CBI has registered a case against Chandra Proteco Limited and its directors over an alleged Rs 210.13 crore bank fraud involving diversion of funds and misuse of credit facilities worth Rs 541.46 crore.

CBI Registers Case Against Chandra Proteco and Its Bank Fraud of Over Rs 210.13 Crore 

Judgement

The ITAT Delhi held that repayment of Rs 1 Crore loan before reassessment notice supports genuineness.

ITAT Holds Repaid Loan Cannot Be Treated as Bogus Accommodation Entry Merely on Suspicion

The ITAT Delhi directs AO to reconsider taxability of plot surrender compensation after granting the assessee a fair opportunity of hearing.

ITAT Remands Addition for Fresh Assessment After Setting Aside Ex-Parte Orders

The ITAT condones 349-Day Delay in Appeal by Small Farmer and directs AO to reconsider penalty proceedings.


ITAT Remands Case for Fresh Decision After Granting Hearing Opportunity

Snowman Logistics’ income tax penalty for AY 2024-25 has been reduced by Rs 34.43 lakh to Rs 1.72 crore following a rectification order, while the company’s appeal against the penalty remains pending.

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CBI Conducts Searches at Multiple Locations in Mumbai Over Alleged Rs 58.48 Crore SBI Loan Fraud Involving Avaya Industries

CBI Registers Case Against Chandra Proteco and Its Bank Fraud of Over Rs 210.13 Crore

ITAT Holds Repaid Loan Cannot Be Treated as Bogus Accommodation Entry Merely on Suspicion

ITAT Remands Addition for Fresh Assessment After Setting Aside Ex-Parte Orders

ITAT Remands Case for Fresh Decision After Granting Hearing Opportunity

Snowman Logistics Receives Income Tax Rectification Order, Penalty for AY 2024-25 Reduced from Rs 2.06 Crore to Rs 1.72 Crore