Judgement

The AO was directed to examine the details of the nature and source of cash deposits in the assessee's bank account and then pass an assessment order.

ITAT Restores Assessment After AO Goes Beyond Scope of Limited Scrutiny in Cash Deposit Case

The ITAT held that the compensatory payments made out of contractual obligations are not a penalty, and the same can be allowed as a business expenditure.

ITAT: Payment for Goods Shortage in Transit Is Compensatory, Not a Penalty

Additional evidence admitted without remand report; interest disallowance deleted citing commercial expediency

ITAT Remands Rs. 3.80 Cr Addition for Fresh Verification; Upholds Deletion of Rs. 86.99 Lakh Interest Disallowance

No incriminating material was found in the Patel RPL Realty Group search; gross interest additions under Sections 69A/69C were rejected.

ITAT Quashes 153A Additions for Unabated Years; Restricts Interest Addition to Net Rs. 4.37 Lakh

The committee reprimanded the respondent, CA Ravi Khanna, under Section 21B(3)(a) of the Chartered Accountants Act, 1949.

ICAI Reprimands Chartered Accountant for Audit Reporting Lapses

The Allahabad High Court quashed the GST notice and demand order after finding that they were uploaded under the wrong tab on the GST portal.

Explore Our Blogs

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

ITAT Restores Assessment After AO Goes Beyond Scope of Limited Scrutiny in Cash Deposit Case

ITAT: Payment for Goods Shortage in Transit Is Compensatory, Not a Penalty

ITAT Remands Rs. 3.80 Cr Addition for Fresh Verification; Upholds Deletion of Rs. 86.99 Lakh Interest Disallowance

ITAT Quashes 153A Additions for Unabated Years; Restricts Interest Addition to Net Rs. 4.37 Lakh

ICAI Reprimands Chartered Accountant for Audit Reporting Lapses

HC Quashes GST Demand Over Improper Service on Portal; Case Remanded for Fresh Consideration