Judgement

ITAT allowed deduction of Rs. 1.06 crore interest expense under Section 57(iii), holding that interest paid on borrowed funds used to earn interest income is a valid allowable expense.

ITAT Upholds Section 57(iii) Deduction for Interest Paid on Borrowed Funds; Favours Assessee

Announcement

ICAI has announced the schedule, registration process, and download guidelines for Mock Test Paper Series I & II for CA Final May 2026 Exams.

ICAI Announces Mock Test Paper Series I and II for CA Final May 2026 Aspirants

Court holds Section 18(3) of the CGST Act to be permissive, allowing refund claims for pre-amalgamation exports even without full ITC transfer.

High Court Sets Aside Rejection of Refund to Amalgamated Company: ITC Transfer Not Mandatory

ITAT held that gratuity and leave encashment provisions qualify as a valid application of income for charitable trusts under Section 11, dismissing the Revenue’s appeal.

ITAT Mumbai Allows Gratuity and Leave Provisions as Valid Income Application for Charitable Trust

Gujarat HC ruled that Income Tax reassessment cannot reopen an assessment year beyond 10 years, even if a later search reveals new material.

Gujarat HC: Income Tax Reassessment Beyond 10 Years Invalid Even After Search

Press Release

The India-EU Free Trade Agreement marks a major step toward a future-ready, rules-based partnership.

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ITAT Upholds Section 57(iii) Deduction for Interest Paid on Borrowed Funds; Favours Assessee

ICAI Announces Mock Test Paper Series I and II for CA Final May 2026 Aspirants

High Court Sets Aside Rejection of Refund to Amalgamated Company: ITC Transfer Not Mandatory

ITAT Mumbai Allows Gratuity and Leave Provisions as Valid Income Application for Charitable Trust

Gujarat HC: Income Tax Reassessment Beyond 10 Years Invalid Even After Search

India-EU Free Trade Agreement: Building a Future-Ready Trade Partnership