Judgement

ITAT remanded the matter to the AO for fresh verification, citing possible duplication in additions made on bank credits and alleged accommodation entries.

Entire credit entries appearing in bank without considering debit entries cannot be taxed as Cash Credits: ITAT

News

Delhi's Chief Minister, Rekha Gupta, conducted a surprise inspection at the State GST office in ITO, and found several officials absent from their duties.

Delhi CM Conducts Surprise Inspection at State GST Office, ITO; Several Officials Found Absent

ITAT Mumbai ruled that tax authorities cannot arbitrarily apply a higher presumptive income rate when a taxpayer has correctly declared income under Section 44AD.

No Arbitrary Higher Tax Can Be Imposed When Presumptive Income Is Properly Declared: ITAT

It was observed that profits from one client were shifted to another by changing the codes. This suggested that there was no punching mistake but a deliberate attempt.

ITAT Upholds Addition Due to Non-Genuine Client Code Modifications

The ITAT Bangalore held that interest earned from temporary surplus funds is business income eligible for Section 80P deduction, not “income from other sources".

Interest earned by Cooperative society from temporary deployment Surplus business Funds eligible for Section 80P Deduction: ITAT

The handbook explained GST returns, payment procedures, filing timelines, and compliance rules. It included updates on ITC, IMS, Rule 88C, and ISD, helping users understand practical aspects easily.

Explore Our Blogs

Stay updated with the latest insights, tips, and industry trends from our experts

Entire credit entries appearing in bank without considering debit entries cannot be taxed as Cash Credits: ITAT

Delhi CM Conducts Surprise Inspection at State GST Office, ITO; Several Officials Found Absent

No Arbitrary Higher Tax Can Be Imposed When Presumptive Income Is Properly Declared: ITAT

ITAT Upholds Addition Due to Non-Genuine Client Code Modifications

Interest earned by Cooperative society from temporary deployment Surplus business Funds eligible for Section 80P Deduction: ITAT

ICAI Issues March 2026 Edition of Handbook on Returns and Payments Under GST