Judgement

The ITAT Delhi deletes most additions related to unexplained cash deposits, holding that once sales were accepted, the related cash deposits could not be treated entirely as unexplained income.

Once Sales Intially Accepted, Related Cash Desposits Cannot be Treated Entirely Unexplained: ITAT

Notifications

The Reserve Bank of India has granted scheduled bank status to four co-operative banks by including them in the Second Schedule of the RBI Act, 1934.

RBI Adds Four Co-operative Banks to Second Schedule Under RBI Act, 1934

The Delhi High Court grants compensation for the delayed release of seized KVPs and IVPs by the department.

Delhi High Court Awards Compensation for Delayed Release of Seized KVPs

The Delhi High Court quashes ad hoc disallowance of car and telephone expenses against the company assessee.

Delhi HC Rules Against Arbitrary Disallowance of Corporate Business Expenses

ITAT Bangalore holds bonus shares need not automatically assume stock-in-trade character for taxation purposes.

ITAT Bangalore Allows Exempt LTCG on Sale of Infosys Bonus Shares

ITAT quashes reassessment initiated beyond four years without fresh tangible material or disclosure failure.

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Once Sales Intially Accepted, Related Cash Desposits Cannot be Treated Entirely Unexplained: ITAT

RBI Adds Four Co-operative Banks to Second Schedule Under RBI Act, 1934

Delhi High Court Awards Compensation for Delayed Release of Seized KVPs

Delhi HC Rules Against Arbitrary Disallowance of Corporate Business Expenses

ITAT Bangalore Allows Exempt LTCG on Sale of Infosys Bonus Shares

ITAT Rejects Revenue Appeal Against Electrotherm in Section 147 Reopening Dispute