Judgement

The ITAT Ahmedabad deletes the addition of Rs. 50 lakh received by the company through bank transfers, on the grounds of a genuine bank transaction, interest and TDS were properly paid, and the loan was repaid later.

Loan Routed Through bank, Interest Paid with TDS, and Fully Repaid Cannot Be Treated as Unexplained Cash Credit: ITAT

The ITAT Mumbai granted partial relief by deleting the shop addition and directing a fresh review of the deemed rent calculation.

No ad hoc estimate allowed; MRV must be basis for deemed rent computation

Notifications

Govt. of India has notified the implementation of the amended India–Belgium Double Taxation Avoidance Agreement effective June 26, 2025.

Government notifies Amended India-Belgium Agreement on Avoidance of Double Taxation

High Court dismisses writ seeking defreezing of a salary account frozen during a cyber-crime investigation, holding the bank acted lawfully under Section 106 BNSS on investigating agency’s directions.

HC Upholds Validity of Bank Account Freezing Ordered During Cyber-Crime Investigation

High Court allows appeals, restores complaints dismissed for want of jurisdiction, and directs expeditious disposal on merits with costs of Rs. 50,000.

High Court Holds that the “Status of the Employee” is not the Sole Determinant of Jurisdiction under the MRTU Act

News

Here's a comprehensive guide of even high-value financial transactions that are closely monitored by the Income Tax Department and can trigger scrutiny if they exceed specified limits.

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Loan Routed Through bank, Interest Paid with TDS, and Fully Repaid Cannot Be Treated as Unexplained Cash Credit: ITAT

No ad hoc estimate allowed; MRV must be basis for deemed rent computation

Government notifies Amended India-Belgium Agreement on Avoidance of Double Taxation

HC Upholds Validity of Bank Account Freezing Ordered During Cyber-Crime Investigation

High Court Holds that the “Status of the Employee” is not the Sole Determinant of Jurisdiction under the MRTU Act

Beware! 10 Key Financial Transactions That May Trigger Income Tax Scrutiny