Notifications

The ICAI Disciplinary Committee has removed the name of a Chartered Accountant from the registrar of members for the period of one year, with effect from April 15, 2026.

ICAI Disciplinary Committee Notifies Removal of a CA Name from Register of Members for One Year

Judgement

The Tribunal quashed the reassessment, holding that the Mohali Assessing Officer lacked jurisdiction because there was no valid transfer order under Section 127.

Tribunal Holds AO Cannot Transfer Case Without Competent Authority’s Approval Under Section 127

The ITAT allows Section 80P deduction on interest from statutory funds, staff loans, and surplus investments.

Interest on Surplus Funds Eligible for Section 80P Deduction; Rules ITAT

The Tribunal noted that the reopening was done on the wrong facts, as the AO incorrectly claimed that no return was filed.

ITAT Quashes Reopening Due to Incorrect Facts and Absence of Evidence

ITAT deletes the cash deposit addition, accepting the family source explanation supported by the affidavit and surrounding circumstances.

ITAT Deletes Demonetisation Addition; Accepts Explained Family Cash Source

ITAT holds that sales supported by invoices, bank trail and C-Forms cannot be treated as unexplained cash credit merely based on investigation reports.

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ICAI Disciplinary Committee Notifies Removal of a CA Name from Register of Members for One Year

Tribunal Holds AO Cannot Transfer Case Without Competent Authority’s Approval Under Section 127

Interest on Surplus Funds Eligible for Section 80P Deduction; Rules ITAT

ITAT Quashes Reopening Due to Incorrect Facts and Absence of Evidence

ITAT Deletes Demonetisation Addition; Accepts Explained Family Cash Source

ITAT Deletes Rs. 1.88 Cr Section 68 Addition on Sales; Commission Addition Also Quashed