Judgement

ITAT Delhi quashes reassessment as no addition made on original reason; also allows business expenses where no exempt income.

ITAT Quashes 2.58 Cr Addition as Beyond Scope of Reopening, Carry Forward of Losses Allowed

Tribunal holds standalone audited financials decisive for tax computation; deletes additions made using group consolidated figures.

ITAT Quashes Rs. 49.79 Cr Additions; Held Consolidated Accounts Ignored

Announcement

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The ICAI is inviting feedback on its Study Material for CA Course.

ICAI Invites Feedback on Study Material for CA Course

News

A major GST fraud involving Rs. 266 crore bogus invoices and Rs. 48 crore fake ITC by shell companies, led by a CA mastermind, has been exposed by DGGI Bengaluru.

Chartered Accountant Busted in 266 Cr GST Scam: 48 Cr Fake ITC via Bogus Invoices

ITAT upholds CIT(A)’s deletion of Section 68 addition; finds unsecured loans genuine and no material linking assessee to entry operations.

ITAT: No Section 68 Addition Where Loans Duly Proven

Tribunal holds PCIT cannot invoke Section 263 when reassessment completed on specific recorded reasons; no addition made on unrelated issue.

Explore Our Blogs

ITAT Quashes 2.58 Cr Addition as Beyond Scope of Reopening, Carry Forward of Losses Allowed

ITAT Quashes Rs. 49.79 Cr Additions; Held Consolidated Accounts Ignored

ICAI Invites Feedback on Study Material for CA Course

Chartered Accountant Busted in 266 Cr GST Scam: 48 Cr Fake ITC via Bogus Invoices

ITAT: No Section 68 Addition Where Loans Duly Proven

ITAT Allows Appeal, Says PCIT Can’t Expand Scope of Reassessment via Section 263