Judgement

Since the grounds for reopening the assessment and final addition during the reassessment were made on entirely different facts, the ITAT quashed the reassessment order.

ITAT Quashes Reassessment as Final Addition Was Made on Different Grounds

News

As per ICAI, the proposals aim at easing the tax burden on taxpayers, curbing tax evasion, and boosting the tax collection efficiency.

ICAI Suggests Major Tax Reforms Ahead of Union Budget 2026-27

The Enforcement Directorate has provisionally attached Rs 1,885 crore worth of assets linked to Anil Ambani Group in a bank fraud case.

ED Attaches Assets Worth Rs 1,885 Crore of Anil Ambani Group in Bank Fraud Case

ITAT restored the Section 11 exemption claim after condoning a one-day delay in filing Form 10B and remanding the matter to the tax authorities for fresh review.

ITAT Delhi Restores Section 11 Exemption Case After One-Day Form 10B Delay Is Condoned

ITAT holds corpus character proved through donor intent and records; cash fee collections from students cannot be treated as unexplained

ITAT Grants Full Corpus Exemption to Educational Trust, Deletes Rs. 69 Lakh Cash Addition

The ITAT held that no demonetisation addition on cash sales can be made where the assessee maintained complete sales invoices, stock registers, VAT returns and audited accounts

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ITAT Quashes Reassessment as Final Addition Was Made on Different Grounds

ICAI Suggests Major Tax Reforms Ahead of Union Budget 2026-27

ED Attaches Assets Worth Rs 1,885 Crore of Anil Ambani Group in Bank Fraud Case

ITAT Delhi Restores Section 11 Exemption Case After One-Day Form 10B Delay Is Condoned

ITAT Grants Full Corpus Exemption to Educational Trust, Deletes Rs. 69 Lakh Cash Addition

No Demonetisation Addition on Cash sales where Assessee Maintained Proper Sales, Stock and Audit Records: ITAT