Judgement

The ITAT  set aside the CIT(A)'s ex parte order and remanded derivative loss dispute for fresh adjudication on merits after granting the assessee a reasonable opportunity of hearing.

ITAT Sets Aside CIT(A)'s Ex Parte Order in Rs 1.78 Crore Bogus Derivative Loss Dispute After Finding Need for Fresh Hearing

News

Rajshree Sugars & Chemicals receives a favourable order dropping all central excise proceedings involving Rs 62.83 crore in demand, penalty and interest, with no financial impact on the company.

Rajshree Sugars & Chemicals Wins Major Tax Relief as Chennai Commissioner Drops Rs 62.83 Crore Central Excise Proceedings

The ITAT Chennai permits assessee to produce supporting documents under Rule 29 of ITAT Rules.

ITAT Allows Additional Evidence in Cash Deposit Case

The ITAT Chennai holds that penalty cannot be sustained merely on estimated additions and  directs deletion of penalties.

ITAT Deletes Penalty Under Section 271(1)(c) on Estimated Income

The ITAT deleted a Rs 4.42 lakh penalty under Section 270A, ruling that mere disallowance of delayed PF and ESI contribution deductions does not automatically constitute misreporting of income.

ITAT Deletes Rs 4.42 Lakh Penalty, Says PF and ESI Disallowance Does Not Amount to Misreporting

The RBI has imposed a total penalty of Rs 7.3 lakh on Canara Bank over ATM cashouts at 73 ATMs across Karnataka and Tamil Nadu.

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ITAT Sets Aside CIT(A)'s Ex Parte Order in Rs 1.78 Crore Bogus Derivative Loss Dispute After Finding Need for Fresh Hearing

Rajshree Sugars & Chemicals Wins Major Tax Relief as Chennai Commissioner Drops Rs 62.83 Crore Central Excise Proceedings

ITAT Allows Additional Evidence in Cash Deposit Case

ITAT Deletes Penalty Under Section 271(1)(c) on Estimated Income

ITAT Deletes Rs 4.42 Lakh Penalty, Says PF and ESI Disallowance Does Not Amount to Misreporting

RBI Imposes Rs 7.3 Lakh Monetary Penalty on Canara Bank Over ATM Cashouts at 73 ATMs in Karnataka and Tamil Nadu