Judgement

The ITAT Delhi quashed penalties imposed under sections 271(1)(c) and 270A against Ajay Vision Education Pvt Ltd, holding that the notices did not specify the correct limb of the penalty charge.

ITAT Deletes Penalties u/s 271(1)(c) & 270A for Defective Penalty Notices

Articles

The spillover effect happens when transactions from the previous financial year are reported in the current financial year by mistake

GST Annual Return 2024-25: Understanding Spillover Adjustment

he Tribunal agreed with the NFAC order, saying that mere reclassification of the loss does not result in under-reporting of income under Section 270A.

Mere Re-Classification of Loss Nature Can't be Considered as Under-Reporting of Income: ITAT

Notifications

RBI’s proposed directions to help maintain stability in the credit system during trade-related stress.

RBI Announces Reserve Bank of India (Trade Relief Measures) Directions, 2025

Result

The Institute of Examinations of ICAI has officially announced the expected result declaration date for the ISA Assessment Test November 2025, access at isaat.icai.org.

ICAI ISA Assessment Test November 2025: Results Likely to be Declared on This Date

The Income Tax Appellate Tribunal (ITAT) reviewed the case and found that the reimbursement from NHAI was not income but an expense reimbursement.

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ITAT Deletes Penalties u/s 271(1)(c) & 270A for Defective Penalty Notices

GST Annual Return 2024-25: Understanding Spillover Adjustment

Mere Re-Classification of Loss Nature Can't be Considered as Under-Reporting of Income: ITAT

RBI Announces Reserve Bank of India (Trade Relief Measures) Directions, 2025

ICAI ISA Assessment Test November 2025: Results Likely to be Declared on This Date

ITAT Allows TDS Credit on Reimbursement Received From NHAI