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Amendment by Finance Act 2021 by inserting Explanation to Sec 36(1)(va) and Sec 43B prospective: ITAT

Merely filing bank statement would not prove creditworthiness of creditor and genuineness of transaction: ITAT

Amendment to Sec 36(1)(va) and 43B of Income Tax Act will not have application for AY 2019-20: ITAT

Receipt which do not fall under definition of 'income' would not be includible in ‘book profit' u/s 115JB: ITAT

ITAT restore the matter to CIT(A) to decide it on merits when assessee is not interested in pursuing appeal
