News

A social media user has slammed ICAI’s leadership for introducing harmful exam reforms, warning that frequent CA exams could damage the profession’s quality and future.

ICAI in Controversy: ICAI Leadership Criticised for Risking CA Profession’s Future with Reckless Reforms

Articles

The ICAI has proposed to make amendments that will allow a practising chartered accountant to provide services as a Research Analyst

ICAI Proposes to Allow CA to Work as SEBI Research Analyst

Judgement

ITAT Ahmedabad deletes Rs. 1.02 crore addition after accepting that the loan was used for genuine business repayment.

ITAT Ahmedabad Quashes Rs. 1.02 Crore Loan Addition, Validates Business Transaction

The court clarified that rewards for informants are not a legal right and cannot be claimed as a right.

Reward for Informing Authorities About GST Evasion is Optional: Delhi High Court 

Depositing over Rs. 10 lakh in your bank account can trigger scrutiny from IT Dept. so always maintain clear proof of money’s source to avoid notices and penalties.

Red flags of bank Deposits that can invite Income Tax Notice

The ITAT Ahmedabad, in one of its orders, upheld a disallowance made by the assessing officer (AO) of subcontract expenses because the assessee company did not submit enough explanations and details.

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ICAI in Controversy: ICAI Leadership Criticised for Risking CA Profession’s Future with Reckless Reforms

ICAI Proposes to Allow CA to Work as SEBI Research Analyst

ITAT Ahmedabad Quashes Rs. 1.02 Crore Loan Addition, Validates Business Transaction

Reward for Informing Authorities About GST Evasion is Optional: Delhi High Court

Red flags of bank Deposits that can invite Income Tax Notice

ITAT Upholds Disallowance of Subcontract Expenses, Remands TDS Matter to AO