News

The ED searched 20 locations across Kerala in three cooperative society fraud cases involving alleged fake loans, depositor fraud and illegal property transfers.

ED Conducts Searches at 20 Locations Across Kerala in Three Cooperative Society Fraud Cases Involving Alleged Fake Loans and Illegal Property Transfers

Judgement

The ITAT Ahmedabad held failure to furnish books and supporting details justifies fresh examination of abnormal loss and increase in salary.


ITAT Remits Profit Estimation and Salary Disallowance Matter for Fresh Adjudication

ITAT condones a 656-day delay but upholds Rs 31.80 lakh interest disallowance after the assessee fails to establish a direct nexus between overdraft interest and FDR income under Section 57(iii).

ITAT Rules Interest on FDR-Backed Overdraft Not Deductible Without Direct Nexus Under Section 57(iii)

The ITAT held that mere difference between physical and book stock cannot justify search penalty. 


ITAT Deletes Section 271AAA Penalty on Diamond Stock Discrepancy for Failure to Establish Undisclosed Income

The Gujarat High Court held that mere allegation of tax evasion cannot justify extended five-year limitation under Section 74.

High Court Quashes GST Section 74 Notice Issued Beyond Limitation 

Delhi ITAT condones a 783-day delay in filing an income tax appeal and restores the Rs 1.87 lakh penalty matter to CIT(A) for fresh adjudication.

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ED Conducts Searches at 20 Locations Across Kerala in Three Cooperative Society Fraud Cases Involving Alleged Fake Loans and Illegal Property Transfers

ITAT Remits Profit Estimation and Salary Disallowance Matter for Fresh Adjudication

ITAT Rules Interest on FDR-Backed Overdraft Not Deductible Without Direct Nexus Under Section 57(iii)

ITAT Deletes Section 271AAA Penalty on Diamond Stock Discrepancy for Failure to Establish Undisclosed Income

High Court Quashes GST Section 74 Notice Issued Beyond Limitation

ITAT Takes Liberal View on 783-Day Delay, Allows Appeal Against Rs 1.87 Lakh Penalty to Be Heard on Merits