Judgement

ITAT Sets Aside Rs. 33.59 Cr 80IA Adjustment for Steam Transfer, Finds Benchmarking Flawed

CUP Method Misapplied: ITAT Corrects TPO in Section 80IA Assessment

Tribunal remands revenue recognition issue to AO; confirms disallowance under Section 36(1)(va)

Delay in PF/ESI Deposit? ITAT Says No Relief, Cites SC’s Checkmate Judgment

No Income Tax Refunds for AY 2025-26 until Old ITRs are reviewed by Government

News

State Tax Department launches raids in Kashmir to curb fake ITC fraud, targeting sectors like iron, cement, and steel to protect GST revenue.

GST State Tax Department Cracks Down on Fake ITC Fraud in Kashmir

The Tribunal allowed a bad debt deduction of Rs. 1.91 crore, ruling that a simple write-off in the books is sufficient under Section 36(1)(vii), as per the TRF Ltd. vs CIT judgment.

Simple Write-Off is Enough: Tribunal Grants Rs. 1.91 Cr Bad Debt Deduction

Notifications

A new sub-regulation (ca) is added after sub-regulation, which covers Tugs or Tug Boats, Dredgers, and Vessels used for providing offshore support services.

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CUP Method Misapplied: ITAT Corrects TPO in Section 80IA Assessment

Delay in PF/ESI Deposit? ITAT Says No Relief, Cites SC’s Checkmate Judgment

No Income Tax Refunds for AY 2025-26 until Old ITRs are reviewed by Government

GST State Tax Department Cracks Down on Fake ITC Fraud in Kashmir

Simple Write-Off is Enough: Tribunal Grants Rs. 1.91 Cr Bad Debt Deduction

RBI Updates FEMA: Offshore Vessels Must Be Re-Imported